Interest Rate Update

Interest Rate Update

WOW!!! Stock Market is down today over 400 points at 11am. Stocks have been losing ground every day this week and some think this is the big correction. Great for rates

How Will Lower Rates Impact Real Estate Sales?

As interest rates ease it is fairly obvious that more people can qualify for more homes. The affordability index measures the what percentage of people making the average wage can afford the average priced home. As rates ease that number goes up. It will become widely publicized that rates are falling as the government strives to keep the housing market in high gear.

How Does This Affect You ?

This is obviously GREAT news. Nobody can predict how long interest rates will stay under 4.0% but it could be into next year. The housing market has slowed due to recent increase in prices and a slight rise in interest rates above 4.0%. With home prices stabilizing and rates fall-ing below 4.0%, this could be a great opportunity for people to buy again. Get the word out to all your buyers, sellers, and anybody else you can find.

30 Year Fixed up to $417,000	3.625% to 4.0%
30 Year Fixed "Agency" up to $625,500	3.75% to 4.125%
30 Year Fixed FHA up to $417,000	3.25% to 3.75%
30 Year Fixed FHA "Jumbo" up to $729,500	3.375% to 3.875%