Let’s talk about recent news in mortgages! As new home shoppers or homeowners looking to buy a new home the very word can cause fear! It is better to face this head on and educate yourself about what is happening in the industry. So when the time comes you are in a good position to buy! The good news is we will see the lowest mortgage rates in the next 12 months!!
Here are some recent trends this July
- Mortgage rates are at 14 month lows
- A 30- 40 year fixed mortgage could be an option to get you into the home you want at a lower payment
- Thirty-year mortgage rates averaged just 4.06 percent as of last week!
- There are more First-Time buyers taking out new mortgages
- Lending standards ease a little so if you need extra help qualifying now is the time! Higher debt-to-income ratios and lower credit scores are getting extra help
- More borrowers are still choosing adjustable rate mortgages.
- Jumbo loans are also at all time loans 3.5-4.13%
I work with a variety of mortgage specialist to help you get into your ideal home. Each one has their speciality. This an unbelievable time to move into the home of your dreams and make a great investment. Let me know if I can help with any mortgage needs you might have.