Listen up…or read up…if you are a California homeowner, you need to know that the median price of homes in Cali is up 34 percent! This is the highest recorded annual home appreciation rate since 2013. What does this mean for you? If you are currently paying Mortgage Insurance as part of your monthly payment,
As a nice kick-off to summer, the survey of average mortgage rates showed a little improvement last week as we headed off for the long Memorial Day Weekend. According to Freddie Mac’s weekly survey, average mortgage rates fell by .05 percent in their survey. There’s lots of talk in the media about housing and whether
This week, as we head into the unofficial start of summer with the Memorial Day Holiday, I want to pause and honor all those and their families that have served our country with their military service. Thank you and we honor you! I hope you all have a fabulous long weekend and that wherever you
The big story since last week’s update has been inflation. With the economy reopening and the demand for goods and services increasing over these last few months, prices (thus inflation) have been rising. This also means that prices for mortgages – in the form of the interest rate – may rise as well. This is
We’ve watched as mortgage rates have remained rather steady over the past three weeks and according to Freddie Mac’s weekly survey, averages remained below 3 percent for the 30-year fixed. Friday’s job creation numbers dragged on markets showing a disappointing 266,000 new jobs created when a number much closer to 1 million was expected. Interestingly
Last week, mortgage rates remained rather steady. And according to the latest survey published by Freddie Mac, the average fixed rates remain below 3 percent, continuing to offer opportunities to refinance or purchase. However, there may be changes happening on the horizon that we need to be aware of. As we all know, inventory of homes remains a
Mortgage rates again improved slightly last week, although volatility this week could lead to rates bouncing around a bit. According to the weekly survey put out by Freddie Mac, the average rate for a 30-year fixed rate mortgage fell by .04 percent. Keep in mind that rates on average are still about .25 percent lower
Despite inflation pressures showing up in the data last week, mortgage rates rode a healthy down-trend last week, according to Freddie Mac’s weekly rate survey of average rates. Sam Khater, chief economist explained it this way, “the economy is improving on the demand side and on the supply side, a variety of goods and materials
Surprisingly, we actually saw mortgage rates drop a little last week, after seven consecutive weeks of increases, according to the latest survey of average rates put out by Freddie Mac. This week, however, could be a bit of a rocky road as we get more inflation news. The flow of stimulus money into the economy
Hope you are having a great week! We saw mortgage rates remain rather steady last week, even in the face of a very encouraging and robust Jobs Report. Friday’s report on the nation’s employment picture showed new job creation come in just shy of 1 million while the unemployment rate ticked lower and the number
