Mortgage Rates Drop Below 3% Tempting Homebuyers New York Times
Today’s Mortgage Rates – Key Rate Slides Bankrate
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Mortgage Rates Drop to Historic Lows!
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Don't wait! Mortgage Rates remain high and it is unlikely rates will drop this year. Real Estate experts are urging home buyers not to wait as home prices are expected to rise. It’s a challenging market for buyers and Fannie Mae is predicting an increase in home prices through 2025. Don’t wait Rising costs aren’t the only obstacle for buyers as low inventory is also impacting the market’s dynamics. If Baby Boomers ever decide to move/downsize some experts believe that will put 9 million homes on the market over the next 10 years. Wait and see? Don't wait. Click Read More below for mortgage rate update and videos.
The Real Estate Scene The benchmark fixed rate on 30-year mortgages now sits at[...]
Rain Maker The Financial Times / Meredith Whitney reported that Freddie Mac wants to enter the secondary home equity loan market in a win-win for the government, Wall Street, and consumers with Mortgage Reform that could unleash the next big U.S. stimulus. The U.S. housing market is harboring the potential for unprecedented economic stimulus that wouldn't require any federal spending, according to Meredith Whitney, the one-time Oracle of Wall Street” who predicted the Great Financial Crisis. Meredith noted that mortgage finance giant Freddie Mac asked its regulator last month to enter the secondary mortgage market, or home equity loans, which allow homeowners to borrow against the equity in their houses. Such borrowing can be used for vacations, weddings, new cars, investments, medical bills, or starting a business. In other words, it's more money that could power the economy. Letting Freddie Mac initiate this mortgage reform for home equity loans could start putting $1 trillion into consumers' wallets as soon as this summer and $2 trillion by the autumn, Whitney estimated. If fellow mortgage giants Fannie Mae and Ginnie Mac follow along, the potential stimulus could top $3 trillion. Click Read More below for the whole post and more information about interest rates.
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