Interest Rate Update

Interest rates are still looking good. Even with the .25% hike in the Federal Funds Rate long term interest rates remain at historic lows.

30 Year Fixed up to $417,000 3.50% to 3.75%
30 Year Fixed “Agency” up to $625,500 3.625% to 3.875%
30 Year Fixed FHA up to $417,000 3.25% to 3.50%
30 Year Fixed FHA “Jumbo” up to $729,500 3.25% to 3.50%

Freddie Mac Makes “Bold” Prediction

Officials from residential giant Freddie Mac are predicting that housing starts and home prices will reach their highest levels since 2006. That is a nationwide prediction. Low interest rates, an improving job market, and a gradual increase in housing supply will fuel a strong 2016. The chief economist for Freddie Mac stated “housing markets are poised for their best year in a decade”. The prediction also states that the housing markets should sustain their momentum through 2017 which is always good news.