#mortgage rates

[lise20190]

Part Time Jobs for International Students in the USA

Join Link: https://part-time.makemoneycareer.com/?pub=14565

Part Time Jobs for International Students in the USA

[notayesmanseconomics]

The UK Labour Market looks pretty strong

The UK labour market has produced a set of figures this morning that are in line with the present weather which is rather sunny. We have even achieved something which it feels like we were on the cusp of almost forever!  In the latest quarter, total actual weekly hours worked increased by 15.8 million to a record high of 1.06 billion hours. This is 6.3 million hours above pre-coronavirus pandemic…

[wealthcreation999]

“Mortgage Rates” Fall – After Banks Fail

Mortgage rates have fallen to historic lows as a result of the recent bank failures, which also had a significant effect on the housing market. The pandemic-related economic downturn has been devastating for many, but those looking to buy or refinance a home may discover that this is the ideal time to do so. This article will look into the reasons for the drop in mortgage rates as well as how homeowners can benefit from it. read more

[monsterkong]

Fear Is the Enemy: Why Homebuyers Should Act Now in Q4 2024 🛑

We get it—high mortgage rates make everyone a little nervous. But here’s the thing: Fear creates opportunities. When other buyers are scared, you have the power to negotiate incredible deals.

Market Trends Favor the Brave 📉

Right now, the market is cooling off, and sellers are feeling the pressure. Homes are sitting on the market longer, and we’re seeing more price reductions than we’ve seen all year. For buyers, this is gold.

Waiting Could Backfire 🎯

Sure, rates might drop in 2025 or 2026, but prices are likely to rise alongside them. When rates hit 4.6%, demand will skyrocket, and sellers won’t need to offer deals. The $690,000 home you can buy today might jump to $875,000 once the market heats up. Why wait and pay more later?

Embrace Higher Rates and Win Big 🏆

Higher interest rates aren’t the enemy—they’re your opportunity to buy low. And with refinancing options in the future, you can still benefit from lower rates down the road.

Seize the Day—Start Your Home Search Now 🔍

Don't let fear hold you back. The best deals are made when the market is quiet, and buyers are scarce. If you have any questions or need help figuring out your next steps, let’s talk! Your dream home—and an amazing deal—might be closer than you think.

[bondstreetmortgage]

Mortgage Rates Update

Last week’s economic reports included readings on construction spending and Labor Department readings on private and public jobs growth. The Consumer Sentiment Index was released along with weekly readings on mortgage rates and new jobless claims.

Construction Spending Slows in October

Residential construction slowed in last month as public works projects increased. Private sector construction spending fell by -0.10 percent as compared to expected growth of 0.30 percent and last month’s negative reading of -0.10 percent.

Construction spending for October was $1.309 billion on a seasonally adjusted annual basis as compared to September’s revised reading of $1.311 billion. Overall construction spending was 4.90 percent year-over-year.

Homebuilders continued to be wary of tariffs on building materials and cited high labor costs and a shortage of buildable lots. Winter weather also slows construction in many areas of the U.S.

Mortgage Rates, New Jobless Claims Fall

Freddie Mac reported lower average mortgage rates last week. Mortgage rates for a 30-year fixed rate mortgage fell by six basis points to 4.75 percent; rates for 15-year fixed rate mortgages were four basis points lower at 4.21 percent on average.

Rates for 5/1 adjustable rate mortgages averaged five basis points lower at 4.07 percent. Discount points averaged 0.50 percent for 30-year fixed rate mortgages and 0.40 percent for 15-year fixed rate mortgages. 5/1 adjustable rates had average discount points of 0/30 percent.

First-tome jobless claims were lower last week with 231,000 new claims filed as compared to an expected reading of 224,000 new claims filed and the prior week’s reading of 236,000 new jobless claims filed.

Labor Department: Slower Jobs Growth in Public, Private Sectors

The Bureau of Labor Statistics reported fewer jobs added to Non-Farm Payrolls in November. 155,0000 public and private sector jobs were added as compared to expectations of 190,000 jobs added and October’s reading of 237,000 new jobs added. ADP reported 179,000 private sector jobs added in November as compared to 225,000 jobs added in October. The national unemployment held steady at 3.70 percent.

Consumer sentiment was unchanged in November with an index reading of 97.50 according to the University of Michigan’s Consumer Sentiment Index.

What‘s Ahead

This week’s scheduled economic releases include readings on inflation, retail sales and weekly reports on mortgage rates and first-time jobless claims.

[realtorlindasraymondposts]

Fairfield and Westport Real Estate Market Report October 2024 🎃

Image: Blazing outdoor fireplace at 115 Lalley Blvd, Fairfield CT October Chill is in the Air! 🎃🏡 Here’s what happened in September in our local Fairfield and Westport single-family housing markets. If you want the exact details, check out the What Sold Reports. In September 2024– Prices: Median Prices Varied By Town. Homes Sold for 100% or More On Average with a Wide Range Single-family…

[trendynewsnow]

Home Equity Surge: Opportunities for Homeowners in a High Interest Rate Environment

Home Equity Surge: An Opportunity for Homeowners American homeowners have seen a remarkable increase in their home equity, accumulating hundreds of thousands of dollars that they are increasingly leveraging, even amidst the backdrop of high interest rates. Home equity, which is calculated as the difference between the current market value of a home and the outstanding balance on the mortgage, has…

[moshevakneen]

Moshe Vakneen’s Tips for Securing the Best Mortgage Rates

Securing a favorable mortgage rate can significantly impact your overall home-buying experience, making it essential to understand how to navigate the competitive market effectively. With the expertise of Moshe Vakneen, a seasoned real estate professional, you can gain valuable insights that will empower you to find the best mortgage rates. This guide provides practical tips and strategies to help you secure a competitive mortgage, ensuring you make informed decisions throughout the process.

Understand Your Financial Situation

Before diving into the mortgage market, it’s crucial to have a clear understanding of your financial health. This involves assessing your credit score, debt-to-income ratio, and overall financial stability. A strong credit score is essential, as lenders typically offer better rates to those with a higher score.

Moshe Vakneen recommends reviewing your credit report to identify any inaccuracies that could negatively affect your score. If you find discrepancies, take steps to correct them before applying for a mortgage. Additionally, focus on paying down existing debts to improve your debt-to-income ratio. A lower ratio demonstrates to lenders that you are more likely to manage additional debt responsibly, making you a more appealing candidate for favorable rates.

Shop Around for Lenders

One of the most efficient strategies to find the best mortgage rates is to shop around and compare offers from various lenders. Different financial institutions may have varying rates and terms, so it pays to do your research. Moshe Vakneen emphasizes the importance of obtaining at least three to five quotes from different lenders to ensure you’re getting the most competitive rate.

When comparing offers, pay attention to the Annual Percentage Rate (APR), which reflects the true cost of borrowing, including fees and interest. Don’t be swayed solely by the interest rate; consider the overall terms and conditions of each mortgage. This comprehensive approach allows you to make a well-informed decision and select the lender that best aligns with your financial goals.

Consider a Mortgage Broker

If navigating the mortgage landscape feels overwhelming, consider enlisting the help of a mortgage broker. Brokers serve as intermediaries between you and lenders, helping you find the best mortgage rates and terms available. Moshe Vakneen points out that a knowledgeable broker can save you time and effort by providing access to a wide range of lenders and loan products.

When choosing a broker, ensure they are reputable and have a track record of success. Ask for recommendations from friends or family, and check online reviews to find a broker who aligns with your needs. Working with a broker can streamline the process and increase your chances of securing a competitive mortgage rate.

Improve Your Credit Score

As mentioned earlier, your credit score plays a significant role in determining the mortgage rate you receive. Therefore, taking proactive steps to improve your score can lead to better loan terms. Moshe Vakneen advises potential borrowers to focus on timely bill payments, reducing credit card balances, and avoiding new debt during the mortgage application process.

Consider utilizing tools such as credit monitoring services to track your score and gain insights into areas for improvement. Additionally, if you’re planning to buy a home in the future, start preparing early. Implementing small changes to your financial habits can have a substantial impact on your credit score and, consequently, your mortgage rate.

Lock in Your Rate

Once you’ve secured a favorable mortgage rate, it’s crucial to lock it in to protect yourself from potential rate increases during the home-buying process. Many lenders allow you to lock in your rate for a specified period, typically ranging from 30 to 60 days. Moshe Vakneen encourages borrowers to take advantage of this option, especially in a fluctuating market.

However, it’s essential to understand the terms of your rate lock. Some lenders may charge a fee for this service or offer varying lengths of lock periods. Discuss your options with your lender to determine the best approach for your situation. Locking in your rate can provide peace of mind and ensure you maintain the favorable terms you’ve worked hard to secure.

[gabe-sanders]

Lower Rates Increases Your Buying Power

[wausaupilot]

Wisconsin realtors hopeful for further mortgage rate declines, but supply is bigger issue

Gladue and Bruno said prices have risen despite mortgage rate increases because there just isn’t enough supply of housing to keep up with demand.

By Joe Schulz | Wisconsin Public Radio Some Wisconsin realtors are hopeful mortgage rates will decline slightly through 2025 after the Federal Reserve’s interest rate cut last week. But they say a lack of supply remains the biggest challenge for prospective homebuyers. The Fed cut the Federal Funds rate by half a percentage point last Wednesday, but average 30-year fixed mortgage rates have…

[creativemedianews]

China Unveils Measures to Revitalize Struggling Economy

China Unveils Measures to Revitalize Struggling Economy #Chinaeconomy #Mortgagerates #PanGongsheng

[bondstreetmortgage]

How Much Of A Down Payment Should I Make On My Home?

There are a lot of steps that people need to take when buying a home. One of the most common issues that people discuss is the down payment. Most banks will require a down payment so that they aren’t the only ones taking on the risk of buying a home. The common question people have is how much of a down payment they should apply.

The Rule Of Thumb

Most people have heard about placing 20 percent down on a house as a solid rule of thumb. This number has been passed down from prior generations who purchased houses with similar down payments.

On the other hand, the price of housing has risen over the past few decades and this down payment might not be possible for some people. While 20 percent down might work for some people, it might not be feasible for others. 

Other Considerations

There are several additional factors that homebuyers need to think about. First, how big of a down payment is the bank requiring? Some banks might not lend to someone at all if they don’t reach a certain threshold. In other cases, the lender might ask someone to purchase something called private mortgage insurance, often abbreviated PMI.

This is an insurance policy that the borrower will have to purchase for the lender. If the borrower loses the home in foreclosure, the lender gets its money back through this insurance policy. Obviously, borrowers do not want to have this added expense. This is where the down payment is important.

In addition, banks might also be willing to lower the interest rate on the mortgage if the borrower increases the size of the down payment. With a lower interest rate, this can save someone a substantial amount of money down the road. Try to see if the lender will lower the interest rate in exchange for a larger down payment.

Deciding The Down Payment

These are a few of the many factors that homebuyers should think about when thinking about the down payment. While nobody wants to pay more than they should, the down payment is only one of the financial aspects people need to consider.

As always, call your trusted mortgage planning professional to help you decide on the best solution for your personal situation.

[realtorlindasraymondposts]

Fairfield and Westport Real Estate Market Report September 2024 🪻

Image: Twilight pool at 115 Lalley Blvd, Fairfield CT September is in Full Swing! 🪻🏡 As we dive into ‘back to school’ mode, here’s a look at what happened at the end of summer in our local Fairfield and Westport single-family housing markets. If you’re curious which homes sold, take a look at the What Sold Reports. Here’s what happened in August 2024. Prices: Up in Both Towns Compared to…