What’s the Latest with Mortgage Rates?

Written by Boynton Beach Mortgage Syndicated User on March 27, 2024. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, Interest Rates.

Recent headlines may leave you wondering what’s next for mortgage rates. Maybe you’d previously heard there were going to be cuts this year that would bring rates down. That refers to the Federal Reserve (the Fed) and what they do to their Fed Funds Rate. While cutting, or lowering, the Fed Funds Rate doesn’t directly determine mortgage rates, it does tend to impact them. But when the Fed met last week, a cut didn’t happen — at least, not yet. There are a lot of factors the Fed considered in their recent decision and most of them are complex. But you don’t need to be bogged down by those...

What Mortgage Rate Do You Need To Move?

Written by Boynton Beach Mortgage Syndicated User on March 13, 2024. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, Buying Myths, For Buyers, Interest Rates.

If you’ve been thinking about buying a home, mortgage rates are probably top of mind for you. They may even be why you’ve put your plans on hold for now. When rates climbed near 8% last year, some buyers found the numbers just didn’t make sense for their budget anymore. That may be the case for you too.Data from Bright MLS shows the top reason buyers delayed their plans to move is due to high mortgage rates (see graph below): David Childers, CEO at Keeping Current Matters, speaks to this statistic in the recent How’s The Market podcast:“Three quarters of buyers said ‘we’re out’ due to...

Why We Aren’t Headed for a Housing Crash

Written by Boynton Beach Mortgage Syndicated User on March 1, 2024. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, Housing Market Updates, Interest Rates, Pricing.

If you’re holding out hope that the housing market is going to crash and bring home prices back down, here’s a look at what the data shows. And spoiler alert: that’s not in the cards. Instead, experts say home prices are going to keep going up.Today’s market is very different than it was before the housing crash in 2008. Here’s why.It’s Harder To Get a Loan Now – and That’s Actually a Good ThingIt was much easier to get a home loan during the lead-up to the 2008 housing crisis than it is today. Back then, banks had different lending standards, making it easy for just about anyone to qualify...

How Changing Mortgage Rates Impact You [INFOGRAPHIC]

Written by Boynton Beach Mortgage Syndicated User on February 24, 2024. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, Infographics, Interest Rates.

Some HighlightsIf you’re looking to buy a home, it’s important to know how mortgage rates impact what you can afford and how much you’ll pay each month.That’s because even a small change in mortgage rates can have a big impact on your purchasing power. 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 lender.

Some Experts Say Mortgage Rates May Fall Below 6% Later This Year

Written by Boynton Beach Mortgage Syndicated User on February 22, 2024. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, Housing Market Updates, Interest Rates.

There’s a lot of confusion in the market about what’s happening with day-to-day movement in mortgage rates right now, but here’s what you really need to know: compared to the near 8% peak last fall, mortgage rates have trended down overall.And if you’re looking to buy or sell a home, this is a big deal. While they’re going to continue to bounce around a bit based on various economic drivers (like inflation and reactions to the consumer price index, or CPI), don’t let the short-term volatility distract you. The experts agree the overarching downward trend should continue this year.While we...

What’s Really Happening with Mortgage Rates?

Written by Boynton Beach Mortgage Syndicated User on February 13, 2024. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, Housing Market Updates, Interest Rates.

Are you feeling a bit unsure about what’s really happening with mortgage rates? That might be because you’ve heard someone say they’re coming down. But then you read somewhere else that they’re up again. And that may leave you scratching your head and wondering what’s true.The simplest answer is: that what you read or hear will vary based on the time frame they’re looking at. Here’s some information that can help clear up the confusion.Mortgage Rates Are Volatile by NatureMortgage rates don’t move in a straight line. There are too many factors at play for that to happen. Instead, rates...

Don’t Wait Until Spring To Sell Your House

Written by Boynton Beach Mortgage Syndicated User on February 2, 2024. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, For Sellers, Interest Rates.

As you think about the year ahead, one of your big goals may be moving. But, how do you know when to make your move? While spring is usually the peak homebuying season, you don’t actually need to wait until spring to sell. Here’s why.1. Take Advantage of Lower Mortgage RatesLast October, the 30-year fixed mortgage rates peaked at 7.79%. In January, they hit their lowest level since May. That means you may not feel as locked-in to your current mortgage rate right now. That downward trend in rates has made moving more affordable now than it was just a few months ago.Another reason...

2 of the Factors That Impact Mortgage Rates

Written by Boynton Beach Mortgage Syndicated User on January 31, 2024. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, For Buyers, Interest Rates.

If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why?The answer is complicated because there’s a lot that can influence mortgage rates. Here are just a few of the most impactful factors at play.Inflation and the Federal ReserveThe Federal Reserve (Fed) doesn’t directly determine mortgage rates. But the Fed does move the Federal Funds Rate up or down in response to what’s happening with inflation, the economy, employment...

Why Mortgage Rates Could Continue To Decline

Written by Boynton Beach Mortgage Syndicated User on December 21, 2023. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, Housing Market Updates, Interest Rates.

When you read about the housing market, you’ll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed). But how do those two things impact you and your homebuying plans? Here’s what you need to know.The Federal Funds Rate Hikes Have StalledOne of the Fed’s primary goals is to lower inflation. In order to do that, they started raising the Federal Funds Rate to slow down the economy. Even though this doesn’t directly dictate what happens with mortgage rates, it does have an impact.Recently inflation has started to cool, a signal...

Invest in Yourself by Owning a Home

Written by Boynton Beach Mortgage Syndicated User on October 26, 2023. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Pricing.

Are you wondering if it makes sense to buy a home right now? While today’s mortgage rates might seem a bit intimidating, here are two compelling reasons why it still may be a good time to become a homeowner.Home Values Appreciate over TimeThere’s been a lot of confusion around what’s happened with home prices over the past two years. While they did dip ever so slightly in late 2022, this year they’ve been appreciating at a more normal pace, which is good news for the housing market. And while looking at price movement over just a year or two can make you worry prices are usually this...

Category: Interest Rates