To understand where mortgage rates may be going, it’s helpful to look at where they’ve been in the past.
- If you’re looking to buy a home, you should know even a small change in mortgage rates has an impact on your purchasing power.
- These charts show how rates generally affect your monthly payment.
- The best way to navigate changing mortgage rates and make an informed buying decision is to rely on the expertise of a local real estate professional and mortgage
If you’re reading headlines about inflation or mortgage rates, you may see something about the recent decision from the Federal Reserve
Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press …
The National Association of Realtors declared that 2020's housing market was certainly outperforming 2019's, expressing that home sales would end up being higher than last year's.
As a result of the recovering economy and the Federal Reserve stimulus program that created an artificial cap, mortgage rates will inevitably rise. As this shift happens, homeowners who would usually consider selling their current homes to buy new homes actually hold onto them in order to keep their historically low mortgage rates, rather [...]
Mortgage Rates on the Rise!
Average U.S. mortgage rates rose modestly this week, a move that makes home-buying a bit less affordable. Still, rates remain near historically low levels.
Mortgage buyer Freddie Mac said Wednesday that the average rate on the 30-year loan increased to 4.29 percent from 4.22 percent last [...]