Mortgage

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Blog Friday Fun Facts – Does the Federal Reserve affect Mortgage Rates? The federal funds rate and mortgage rates are both types of interest rates, but they operate differently. The Fed directly controls the federal funds rate, which primarily influences short-term interest rates, while mortgage rates are determined by lenders based on long-term bond yields and various economic factors like inflation and market demand. This means that […]
Mortgage Foregone Conclusion For anyone worried that mortgage forbearance would eventually cause a flood of distressed properties to hit the market, there is good news this week.   The number of mortgages in forbearance continues to drop and hit its lowest point since April of 2020.   Loans in forbearance dropped 12% compared to one month ago.   It appears […]
Blog New Rate Prediction Windermere’s Chief Economist, Matthew Gardner has made his new mortgage interest rate prediction for 2021.   You can see his breakdown of interest rates and other economic factors by clicking on the image below and watching his newest video.   By the end of the year he predicts rates will rise to 3.63%.  By the […]
Blog 96 Weeks Mortgage rates have been below 4% for 96 weeks in a row.   Today, the average 30-year fixed mortgage rate sits at 3.17%.   This is 0.5% lower than January and exactly 1.0% lower than March 2020.   Rates recently ended a 31-week streak of being under 3%.   Over the last 5 years, rates […]
Blog Enormous Equity Hot off the press is the Core Logic Homeowner Equity Report.  This is their quarterly look at what is happening with homeowners’ equity across the country. Here are the staggering numbers coming out of their research: Collectively, U.S. homeowners with mortgages have realized a $1.5 Trillion gain in equity over the last 12 months. Only […]
Blog The Importance of Pre-Approval To set yourself up for a smooth and successful home purchase, getting pre-approved is perhaps the most productive first step you can take. It strengthens your buying credibility, informs your home search, and speeds up the closing process. The Pre-Approval Process  There is an important distinction to made between two important steps of your mortgage application process: pre-qualification […]
Fun Facts On Sale Money is on sale (again). 30-year mortgage rates now sit at 3.3%. This is less than half of the long-term, 40-year average. This is also almost a full percentage point lower than they were one year ago (which was still very low). Let’s put this in real numbers. A $300,000 loan at today’s rates has […]
Fun Facts Corona Rates Interest rates on a 30-year mortgage right now are just about the lowest they have ever been in history. The rate today is 3.45% The lowest-ever in November, 2012 was 3.31% A year ago they were 4.35% So, what gives?  Why are rates so low?  It turns out that the coronavirus is pushing rates down […]
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Economics 101 Rate Forecast Here is our interest rate Forecast for the next year. Our Chief Economist, Matthew Gardner, predicts that rates for a 30-year fixed mortgage will stay between 3.8% and 3.9% for 2020. He doesn’t see rates going above 4.0% until at least the first quarter of 2021. This is obviously great news for buyers as their […]
For Buyers The Risks and Rewards of Purchasing a Bank-Owned Home   The process of purchasing a home directly from a lender can be long and arduous, but could very well be worth it in the end. If you have your sights on a particular home or are looking to find a deal on your first, working directly with the lender may be your only option. […]
Blog Are You Better Off Paying Your Mortgage Earlier or Investing Your Money? Posted in Buying, Selling, and Living by Guest Author  Photo Credit: Rawpixel via Unsplash Few topics cause more division among economists than the age-old debate of whether you’re better off paying off your mortgage earlier, or investing that money instead. And there’s a good reason why that debate continues; both sides make compelling arguments. For many people, their mortgage is […]
Blog A History Lesson One of the most common questions we hear from clients is “Where do you think interest rates are going?” Virtually all of the experts we follow put rates above 5% going into next year and some see rates approaching 5.5% by the middle of 2019. What’s certain is that there are economic forces at work […]
Blog How Tax Reform Affects Homeowners   New tax legislation was signed into law at the end of 2017, and it included some significant changes for homeowners. These changes took effect in 2018 and do not influence your 2017 taxes.  Here’s a brief overview of this year’s tax changes and how they may affect you*. The amount of mortgage interest you […]
Mortgage 5 Things to Consider if You’re Behind on Your Mortgage Financial setbacks like the loss of a job or large medical bills can make it tough to make ends meet. If you find yourself behind on your mortgage payments, it helps to be proactive.  It’s also good to know that federal and local agencies, even banks, are working to help those who are behind on […]
Economics 101 Rate Recap The Federal Reserve raised interest rates by 0.25% this week. It was their 3rd rate increase this year. This has us thinking about mortgage rates. Today, 30-year mortgage rates are 3.93%. Let’s put this in context with a little history lesson. Mortgage rates were… 3.90% 6 months ago 4.13% 1 year ago 3.54% 18 months […]
Blog Wait or Buy Now? Are you thinking about buying a new home in the next 5 years? Studies show that if you wait, you could be paying substantially more. Check out this article by Keeping Current Matters that explains why buying a home this winter could be your smartest move. http://www.keepingcurrentmatters.com/4-reasons    
Blog Did You Know? Here are some fun “Did You Know?” stats as we wrap up 2016 (arguably one of the most fascinating years in the history of Northern Colorado Real Estate) This year the median price of a home surpassed… $350,000 in Fort Collins $300,000 in Loveland $250,000 in Greeley 2,281 homes were sold in Fort Collins this […]
Blog How Interest Rates Impact Your Buying Power Know your risk. How will your buying power be impacted with increased interest rates? Check out this infographic for an understanding of how much interest rates affect how much home you can afford.   Source: www.simplifyingthemarket.com Read the full article here: http://www.simplifyingthemarket.com/en/2016/12/16/the-impact-your-interest-rate-has-on-your-buying-power-infographic/?a=79696-9675764dc3b9cb63398c8d3c043b0717     
Blog The Trump Tantrum Since the election interest rates have jumped from 3.77% to 3.95% according to the Mortgage Bankers Association. “This week’s increase in mortgage rates, being dubbed the ‘Trump Tantrum,’ is the biggest one week increase since the ‘Taper Tantrum‘ in June 2013,” said Bankrate’s chief financial analyst Greg McBride. Economists say the anticipation of Trump’s pledged […]
Blog Beware of Low Down Payments First-time buyers can borrow with little down, but that may not be wise Financial planners warn: "Borrowers should not overlook the true measure of home affordability: monthly cash flow." Is your down payment going to affect your cash flow in the end? Check out this article to see what they suggest. http://www.cnbc.com/2016/09/02/homebuyers-beware-of-banks-offering-too-much-cash.html      
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