Since mortgage rates have returned to a more historically “normal” level, many are surprised that mortgage rates a bit higher than they may have been over the past few years. Mortgage rates have been pushed higher largely due to inflation. It’s expected by many industry experts that mortgage rates should improve to the mid-5% range somewhere between this summer to sometime next year. I do not expect to see mortgage rates for the 30 year fixed 4% anytime soon. [Read more…]
Should You Pay Points to Buy Your Interest Rate Down?
April 4, 2023 by Leave a Comment
Should you wait to buy a home or buy now?
February 9, 2023 by 2 Comments
Hear me out on my latest video and let me know if I can help you with your mortgage needs.
Mortgage Rates trending Lower
January 26, 2023 by Leave a Comment
Freddie Mac’s PMMS (Prime Mortgage Market Survey) was released this morning showing that mortgage rates have been trending lower.
Please remember, the rates posted above from the PMMS are based on a survey from LAST WEEK… so these interest rates are expired and really just show where interest rates are trending. Please contact me for current mortgage rates for your personal scenario. [Read more…]
Price Adjustments coming soon to Conforming Mortgages
January 24, 2023 by Leave a Comment
Last week, the FHFA (Federal Housing Finance Agency) announced changes to how conforming mortgages are priced with loan-level price adjustments (LLPAs). Some borrowers will find improved pricing where others will have to pay more in fees. The fees are typically incorporated into the interest rate for the mortgage.
From Fannie Mae’s Lender Letter dated January 19, 2023:
“We are implementing additional changes to our LLPA framework that represent the next step in our effort to increase support for borrowers historically underserved by the housing finance market…”.
LIVE: It’s FED Day! Fed increases rates by a half point.
December 14, 2022 by Leave a Comment
6:49 a.m. Well… it’s kind of a live post – I will be updating this post throughout the day. This morning, all eyes are on the FOMC (aka “the Fed”) as we wait to learn how much the Fed funds rate will be adjusted. It is anticipated that the Fed will push the rate 0.500% higher today. This will directly impact loans that are attached to the Prime interest rate, such as home equity loans and many credit cards with variable rates. [Read more…]
What are Seller Buydowns?
November 14, 2022 by Leave a Comment
“Seller Buydown” seems to be a very trendy phrase these days since interest rates have moved higher. There are a couple different types of Seller Buydowns that help make homes more affordable for potential home buyers. [Read more…]
Fannie Mae projects Mortgage Interest Rates around 4.5% in 2023
August 31, 2022 by 4 Comments
Fannie Mae recently released updated projections for interest rates next year. An average of 4.500% for a 30 year fixed would be an improvement from what home buyers and homeowners have experienced since the jump in interest rates that that happened the second quarter of this year. We have to remember that this is just a prediction and many factors influence the direction of mortgage interest rates. [Read more…]
Holy cats! My credit card interest rates!
July 15, 2022 by Leave a Comment
I decided to take my own advice that I’ve been dishing out about credit cards and debts. Today I reviewed my credit card accounts to see what my current interest rates are. I’m pretty lucky to have great credit and that I’m able to pay off my debts monthly. [Read more…]
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