Rising Mortgage Rates

2013-07-07 Mortgage Rates Since 1990

As those actively looking for a home can tell you, mortgage rates have risen sharply in the past two months. The chart to the right shows the average rate for a 30-year fixed-rate loan since the beginning of the year. The chart is from the Bankrate.com site. From January through the beginning of May, mortgage interest rates bounced around the 3.5% level. But then, over the course of a little more than a month they

An Offer’s Strength: Financing

Multi-Family

How strong is the bid we just submitted for that property you love? Are you going to get the house? Sellers are receiving multiple offers on a regular occasion this spring. Buyers are lined up, anxious to buy a home, and willing to submit offers on homes as soon as they hit the market. In many cases buyers know they need to write up their best offer immediately – there may not be an opportunity

2013 Predictions

We never made any official predictions for the 2012 real estate market. I’m stunned that we didn’t do it because it’s a fun thing to think about, and after analyzing the year-end data we always have thoughts and ideas. We won’t make that mistake again this year … here are our predictions for the coming year. Amy 1. Low inventory in the early months of the year is going to result in more multiple offer

Killing the Mortgage Interest Tax Deduction

Speculating that the mortgage interest tax deduction might go away is currently quite popular. News sites all across the internet have taken various angles on what it might mean to individual homeowners and the real estate markets in general. Most articles argue that eliminating this tax break will cause home values to decrease. The National Association of Realtors is frequently quoted as estimating that home prices would fall by 15% nationally and more in areas

Mortgages: Purchasing Power versus Conservatism

We’ve been thinking a lot about mortgages lately. Something that jumps out at us is just how much of an opportunity the combination of declining mortgage rates and falling home prices has created for buyers. Interest rates for 30-year fixed mortgages were around 6% during the early and mid-2000s when we bought our house. Those same loans are now available for interest rates of 4% or less, and 15-year fixed mortgages are available for just