With mortgage rates climbing more than 3% so far this year, it is tricky to get the lowest interest rate mortgages these days; but not impossible. Business has slowed dramatically and solutions to find the lowest interest mortgages are necessary to encourage buyers to buy in this high rate environment. Some mortgage brokers are bringing […]
A Good Time to Buy a Summit County Home
The real estate market is in transition. I don’t think anyone would argue with that statement. So now that it is in transition, should buyers be moving forward with a home purchase? Is this a good time to buy a Summit County home? There are several factors to consider before answering this question. Home prices, […]
Real Estate Inventory Doubles in Summit County
2022 is continuing to tell a different story than the last two years. As we see interest rates increase substantially, we are watching sales slowing and real estate inventory climbing. Our real estate market was pegged so far into a seller’s market, we have a ways to go before the buyer has the advantage. Although, […]
Is a Real Estate Shift in Progress?
Just four months into 2022 we are seeing some significant signs of a real estate shift from the last two years. An increase in mortgage rates has made already high prices even more expensive when a loan is involved. Rarely seen during the last two years, decreases in listing price of properties are happening more […]
Is the Second Home Market Slowing?
Interest Rates on Second Homes Jump in an Instant
Freddie Mac & Fannie Mae recently made some changes to their loan requirements that impacts what loan products are readily available to consumers. One of those changes is making interest rates on second homes jump and another may make investment property loans more difficult to get. Second homes make up a huge portion of the […]
How much mortgage rates impact your monthly payments
If you are taking advantage of these phenomenally low rates and financing your real estate purchase you may be surprised to know how much mortgage rates impact your monthly payments. Everyone knows lower interest rates are better and will save you money. Not everyone realizes just how much though. 4.5% Interest rate vs 3% Let’s […]
Mortgage Rates Drop Again!
We’ve been saying it for years now, how long can these low interest rates last? Just when we think they are starting to climb they head back down again. Yes, housing prices are high nearly everywhere but that is being offset by ridiculously low mortgage rates. Especially now that mortgage rates dropped again! Megastar Financial […]
What Does a Fed Rate Hike Mean for Mortgage Rates?
There has been speculation for months and yesterday it happened. The Fed bumped interest rates .25%. The speculation also included two more rate hikes this year and more in 2018. There is no indication any of that has changed. As long as the economy continues on like it has, those hikes are very likely. Rate hikes are […]
What Happened to Interest Rates this Week?
Interest rates this week improved slightly when the stock market took a dip. Below I have quoted our friends Jeff and Renee Kneller at Mountain Equity Mortgage. Last week’s volatility in the stock market stabbed at the hearts of both the Stock and Bond markets, with home loan rates swinging higher and lower throughout the course […]