by Stig Bergquist | Aug 17, 2023 | Advice for Homeowners, Budget Statistics, Buying a Home, Covid-19, Interest Rates, Mortgage Rates
The recent surge in mortgage rates has created what’s being called the “golden handcuff effect” for homeowners. Like financial incentives employers offer to keep employees from leaving, low mortgage rates have made many homeowners feel “locked in” to their existing...
by Stig Bergquist | Aug 17, 2023 | Advice For Buyers, Buyer, Buying a Home, Interest Rates, Mortgage Rates
If mortgage rates drop to 5%, prepare for some excitement in the housing market! According to a Zillow survey, nearly 40% of homeowners with mortgage rates above 5% are considering selling their homes within the next three years. This is almost twice the number of...
by Stig Bergquist | Jul 17, 2023 | Interest Rates, Mortgage Rates
Great news for prospective homebuyers and those looking to refinance! Despite minimal changes in June, mortgage rates, which had surpassed the 6.5% mark in late May, presented some minor dips that motivated borrowers eagerly took advantage of. According to...
by Stig Bergquist | Feb 8, 2023 | Housing Market Updates, Interest Rates, Mortgage Rates
Understanding mortgage rate interest is essential if you’re in the market for a home or just trying to get a better handle on your current mortgage loan. When it comes to mortgages, the interest rate can be confusing—it’s not always as straightforward as we might like...
by Stig Bergquist | Sep 13, 2022 | Budget Statistics, Costs, Housing Market Updates, Mortgage Rates, Real Estate Finances
During the pandemic, the U.S. housing market was red hot. Homebound people looked for new places to live, millennials were looking for their first homes, and low-interest record rates enticed buyers. When the slowdown came, it came quickly—spurred by inflation and the...
by Stig Bergquist | Aug 4, 2022 | Advice For Buyers, Advice for Renters, Buying a Home, Mortgage Rates
According to Freddie Mac, the 30-year fixed-rate mortgage averaged 5.30% in the week ending July 28, down from 5.54% the week before. While lower, it is still higher than the 2.80% recorded for last year at this time. Starting in January, mortgage rates rose quickly...
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