Mortgage Rates

June 7, 2023

The Main Reason Mortgage Rates Are So High

Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions: 

1. Why Are Mortgage ...

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Posted in Mortgage Rates
April 27, 2023

The Three Factors Affecting Home Affordability Today

There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determined by a combination ...

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April 4, 2023

How Changing Mortgage Rates Can Affect You

The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power.

The chart ...

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Posted in Mortgage Rates
Jan. 31, 2023

Lower Mortgage Rates Are Bringing Buyers Back to the Market

As mortgage rates rose last year, activity in the housing
market slowed down. And as a result, homes started seeing fewer offers and
stayed on the market longer. That meant some homeowners decided to press pause
on selling.

Now, however, rates are beginning to come down—and buyers
are starting to ...

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Posted in Mortgage Rates
Jan. 18, 2023

Think Twice Before Waiting for 3% Mortgage Rates

Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result ...

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Posted in Mortgage Rates
Nov. 27, 2022

Mortgage Rates Will Come Down, It’s Just a Matter of Time


This past year, rising mortgage rates have slowed the
red-hot housing market. Over the past nine months, we’ve seen fewer homes sold
than the previous month as home price growth has slowed. All of this is due to
the fact that the average 30-year fixed mortgage rate has doubled ...

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Posted in Mortgage Rates
Nov. 3, 2022

What’s Ahead for Mortgage Rates and Home Prices?


Now that the end of 2022 is within sight, you may be
wondering what’s going to happen in the housing market next year and what that
may mean if you’re thinking about buying a home. Here’s a look at the latest
expert insights on both mortgage rates and home ...

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Posted in Mortgage Rates
April 14, 2022

Where Are Mortgage Rates Headed?

There’s never been a truer statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American:

“You know, the fallacy of economic forecasting is: Don’t ever try and forecast interest rates and or, more specifically, if you’re a real estate economist mortgage ...

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Posted in Mortgage Rates
March 10, 2022

How Global Uncertainty Is Impacting Mortgage Rates

If you’re thinking about buying or selling a home, you’ll want to keep a pulse on what’s happening with mortgage rates. Rates have been climbing in recent months, especially since January of this year. And just a few weeks ago, the 30-year fixed mortgage rate from Freddie Mac approached 4 ...

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Posted in Mortgage Rates
Jan. 19, 2021

Should I Wait for Lower Mortgage Interest Rates?

lower mortgage rates


Historically low mortgage rates are a big motivator for homebuyers right now. In 2020 alone, rates hit new record-lows 16 times, and the trend continued into the early part of this year. Many hopeful homebuyers are now wondering if they should put their plans on hold and wait for ...

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Posted in Mortgage Rates