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Mortgage rates today, April 7, 2020 | Rates retreat
Multiple key mortgage rates dropped today. The average rates on 30-year fixed and 15-year fixed mortgages both dropped. The average rate on 5/1 adjustable-rate mortgages, meanwhile, ticked up. Mortgage rates change daily, but, overall, they are very low by historical standards. If you’re in the market for a mortgage, it could make sense to go ahead and lock if you see a rate you like. Just make sure you shop around first. 30-year fixed mortgages The average rate for the benchmark 30-year fixed mortgage is 3.77 percent, a decrease of 7 basis points over the last week. A month ago, the average rate on a 30-year fixed mortgage was lower,…
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Do low mortgage interest rates make it a good time to buy or refinance? Yes!
The world has changed in recent weeks as the financial impact from Corona Virus has shocked the markets and caused the Federal Reserve to lower mortgage interest rates by a half a point. This move has brought interest rates to their lowest point in 4 years and has made right now an ideal time to buy a home or refinance a mortgage. If you’ve been thinking about buying a home in the Austin TX area for your primary residence, or an investment property, now is a great time to buy since we may not see interest rates lower than this in our lifetimes. Current Mortgage Interest Rates Average mortgage rates actually…
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Reviewing the 2016 Housing Market
“Change in the Air”Reviewing the Housing Market 2016 proved to be another solid year for Texas home owners, sellers and buyers. Here in Central Texas, home values continued to climb to record numbers as did the total units and dollar volume sold. But with change hanging over heads all year long, it’s little surprise to see some rates of change slow to a more “normal” market, as yours truly projected last January. This time last year the Austin Board of Realtors reported that during 2015 the metro area saw 5% growth in terms of units closed and an appreciation rate of 8%, and citing it was “primarily due to our…
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Austin Market Watch
Once again, real estate sales in the Austin metro area are off to another fast start. While 2014 was a record breaking year, home sales are currently outpacing last year by at least 10% for single family dwellings with many listings still receiving multiple offers and selling over list price! And though early year projections for interest rates ranged from 4.0-4.2% with climbs throughout the year to between 5-5.4%, today the rates remain sub 4% for a 30 year fixed. WOW! I’ll never get tired of seeing rates in the 3’s though I’m afraid those days are numbered. With home values at historic highs and the cost of money still at historic lows home sellers and buyers are sure to be…
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Interest rates are up, but what does that mean?
Whether you’re in the industry, in the market to buy, or just watching the economical trends, you’re sure to know that interest rates are up over the past week, and they’re up significantly. January began around 3.25% and slowly rates crept up towards 4%. This week rates quickly spiked above 4.5%, after the fed announced it’s intentions to scale back on stimulus programs. From Frank E. Nothaft, Freddie Mac vice president, “Higher mortgage rates may dampen some housing market activity but the effect will be muted by the high level of buyer affordability, and home sales should remain strong,” That couldn’t be more true here locally where real GDP growth, population…
