Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
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
It’s the second half of January, and we haven’t even published any predictions for the year. Shame on us! The point of predictions is to get them out there early so that everyone has already forgotten about them by the time the real action starts. That way you don’t get egg on your face when the exact opposite happens. But if you get it right, then you can smugly point back to your calls and
Last week I wrote a post about trying to refinance our house. We’re well underway at this point and hope to close in the next 45 days or so, as long as everything goes as planned. All four lenders that I initially called responded quickly to the voicemails I left them. Three were brokers that have several banks available to them and one was a local credit union. They all said that they’re getting lots
Time for an update on mortgage rates! As has been written in this space before (here and here), mortgage rates are currently being driven by inflation expectations. The Federal Reserve has been focused on supporting the economy by lowering short-term interest rates at the expense of the dollar, which is one cause of inflation (another major one being the huge demand for oil/energy in China). The graph on the left compares mortgage rates for 30 year fixed