I read an article today that I wanted to share with everyone. To preface the article home loan rates are typically about 1.5% to 2.5% higher than the 10 year treasury note. Many home buyers have either decided to hold off for rates to come back down, or they have been unwilling to lower their price range. If the actual
What is the difference between a Bank, Mortgage Broker and a Mortgage Banker? A General Banker works at a bank, which typically offers services such as home loans, student loans, car loans, checking and savings accounts, as well as other types of investments. Because of the retail space and overhead, the price you will pay for a mortgage through a
Is now a good time to buy a new property in Manhattan Beach, Redondo Beach, Hermosa Beach, or other areas of the South Bay? Or are rising mortgage interest rates good reasons to hold off on that purchase for now? The answer to this question is that now is still a good time to buy! Mortgage rates may be up,
On Friday, July 5th, mortgage markets reached another multi-year high for 30-year-fixed mortgages. This recent series of dramatic rises in mortgage rates will affect the market in numerous ways. Of course, mortgage applications will decline and refinancing is slowing down as rates rise, but the affordability of homes is also very different when interest rates go up even one full
Even though mortgage rates have recently soared to the highest level in two years, rising at the fastest pace since 1987, the housing market won’t be derailed. The average 30-year fixed-rate mortgage is now somewhere in the 4.5% range, and some economists predict it could soar to 5% over the next year. Prospective home buyers may be concerned that they
