Mortgage rates were supposed to come down. Instead, they’re rising. Here’s why
You might expect that mortgage rates would be falling right now after the Federal Reserve cut interest rates by a half-point last month. Here are 4 ways the Federal Reserve’s big rate cut could change the housing market Instead, mortgage rates jumped higher. The latest data from Freddie Mac showed that the average 30-year mortgage rate had…
Read MoreJacksonville: A Vibrant City With Something for Everyone | Check out our latest videos. Please follow us on
Jacksonville stands out as Florida's largest city, boasting a diverse economy and an affordable cost of living. The city is known for its vast outdoor activities, including parks, beaches, and recreational areas. Jacksonville is also home to several professional sports teams, enhancing its vibrant sports culture. With a rich variety of neighborhoods, residents can find…
Read MoreExperts Predict Where Mortgage Rates Are Headed in 2025 | Check out our latest videos. Please follow us on
Experts forecast 30-year mortgage rates around 5.9%-6.2% by late 2025. Rates remain above pre-pandemic levels, limiting significant affordability gains.
Read MoreHow Is the US Mortgage Market Muting Monetary Policy? | Check out our latest videos. Please follow us on
The US mortgage market has provided consumers with an estimated USD 600 billion since early 2022. This financial cushion has undermined the effectiveness of monetary policy and maintained consumer spending resilience.
Read MoreHow to Become a Homeowner With Zero-Down Mortgages | Check out our latest videos. Please follow us on
Zero-down mortgages allow buyers to finance 100% of a home’s purchase price, eliminating down payment requirements.VA and USDA loans offer no-down-payment options for eligible service members and rural homebuyers, respectively.
Read MoreUnderstanding Tax Benefits of Home Ownership
Beyond the pride of owning a home, there are significant financial benefits that come with it, especially during tax season. Navigating these benefits doesn’t have to be overwhelming despite the complexity of tax laws. With some foundational knowledge, homeowners can maximize their savings and enhance their financial well-being. Mortgage Interest Deduction Homeowners can deduct the…
Read MoreWhat Will the Election in 2024 Do to Rates?
The presidential election in 2024 is poised to have a significant impact on interest rates, a critical factor influencing various financial markets and economic conditions. Historically, elections bring a degree of uncertainty that can lead to volatility in financial markets and subsequently affect interest rates. Here are some key factors to consider: Policy Uncertainty Elections…
Read MoreLower Rates in 2025: Time to Refinance? | Check out our latest videos. Please follow us on
The Federal Reserve plans multiple rate cuts, continuing into 2025, which could lower mortgage rates significantly. Refinancing in 2025 may offer better savings as rates could drop into the 5% range or lower.
Read MoreReasons to Expect a Sales Upturn
With rising inventory and the expectation of continued Fed rate cuts, increased sales can’t be far behind. Retreat for First Timers In August, first-time buyers accounted for 26% of sales, matching the all-time low last seen in November 2021. This is down from 29% in both July 2024 and August 2023. A market requires both…
Read MoreWhat’s the average rate on a 30-year US mortgage?
It rises for the third week in a row. The average rate on a 30-year mortgage in the US rose for the third week in a row, reaching its highest level in eight weeks. The rate rose to 6.44% from 6.32% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.63%. The last time the average…
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