Are Low Interest Rates Here to Stay?
Interest rates for a 30-year fixed rate mortgage have been on the decline since November, now reaching lows last seen in January 2018. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates came in at 4.12% last week!
This is great news for anyone who is planning on buying a home this spring! Freddie Mac had this to say,
“Mortgage interest rates have been steadily declining since the start of 2019. These lower mortgage interest rates combined with a strong labor market should attract prospective homebuyers this spring and could help the housing sector regain its momentum later in the year.”
To put the low rates in perspective, the average for 2018 was 4.6%! The chart below shows the recent drop, and also shows where the experts at Freddie Macbelieve rates will be by the end of 2019.
Bottom Line
If you plan on buying a home this year, let’s get together to start your home search to ensure you can lock in these historically low rates today!
What’s Ahead for Mortgage Rates and Home Prices?
Utah Realty Blog & News The Latest news for Real Estate both local and National. Buyers Sellers SeniorsWhat’s Ahead for Mortgage Rates and Home Prices? Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next...
The Majority of Americans Still View Homeownership as the American Dream
The Majority of Americans Still View Homeownership as the American Dream Buying a home is a powerful decision, and it remains a key part of the American Dream. In fact, the 2022 Consumer Insights Report from Mynd found the majority of people polled still view...
Key Factors Affecting Home Affordability Today
Key Factors Affecting Home Affordability Today Every time there’s a news segment about the housing market, we hear about the affordability challenges buyers are facing today. Those headlines are focused on how much mortgage rates have climbed this year. And while it’s...
Homeownership Wins Over Time
Homeownership Wins Over Time Some Highlights If you’re questioning whether or not to buy a home this year due to today’s cooling market, consider the long-term financial benefits of homeownership. As a homeowner, equity increases your wealth. On average, nationwide,...
Do You Believe Homeownership Is Out of Reach? Maybe It Doesn’t Have To Be.
Do You Believe Homeownership Is Out of Reach? Maybe It Doesn’t Have To Be. It turns out, millennials aren’t the renter generation after all. The 2022 Consumer Insights Report from Mynd says there’s a portion of millennial and Gen Z buyers who are pursuing...
Sell Your House Before the Holidays
Sell Your House Before the Holidays As you look ahead to the winter season, you’re likely making plans and thinking about what you want to achieve before the year ends. One of those key decision points could be whether or not you want to move this year. If the...
Taking the Fear out of Saving for a Home
Taking the Fear out of Saving for a Home If you’re planning to buy a home, knowing what to budget for and how to save may sound scary at first. But it doesn’t have to be. One way to take the fear out of budgeting is understanding some of the costs you might...
when one door closes
Applying for a Mortgage Doesn’t Have To Be Scary
Applying for a Mortgage Doesn’t Have To Be Scary Some Highlights Even with higher mortgage rates, the mortgage process doesn’t need to be something you fear. Here are some steps to help as you set out to buy a home. Know your credit score and work to build strong...
Millennials Are Still a Driving Force of Today’s Buyer Demand
Millennials Are Still a Driving Force of Today’s Buyer Demand If you’re thinking about selling your house but wondering if buyers are still out there, know that there are still people who are searching for a home to buy today. And your house may be exactly what...