Interest rates for a 30-year fixed rate mortgage climbed consistently throughout 2018 until the middle of November. After that point, rates returned to levels that we saw in August to close out the year at 4.55%, according toFreddie Mac’sPrimary Mortgage Market Survey.
After the first week of 2019, rates have continued their downward trend. AsFreddie Mac’s Chief EconomistSam Khater notes, this is great news for homebuyers. He states,
“Mortgage rates declined to start the new year with the 30-year fixed-rate mortgage dipping to 4.51 percent. Low mortgage rates combined with decelerating home price growth should get prospective homebuyers excited to buy.”
In some areas of the country, the combination of rising interest rates and rising home prices had made some first-time buyers push pause on their home searches. But with more inventory coming to market, continued price growth, and interest rates slowing, this is a great time to get back in the market!
Even a small increase (or decrease) in interest rates can impact your monthly housing cost. If buying a home in 2019 is on your short list of goals to achieve, meet with a local real estate professional who can help prepare you to take action.
Author:Bill Reitz Phone: 757-685-5317 Dated: January 9th 2019 Views: 353 About Bill: ...
Abrams Realty is a full service real estate company for all of your real estate needs including Residential Real Estate and Commercial Real Estate. Abrams Realty provides Property Management services.
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When homeowners are preparing to put their properties on the market, o
""Finding a rental management company while also in the process of transferring and moving down to Florida from Virginia. I love that they have been quick to respond via email, my schedule is hectic so I do not have time to talk on the phone, but I can always check my email. They have been able to answer all my millions of questions, and give advice when needed. I like that I can rent my property and include what I want and choose how I want to rent it. Best part is they charge a flat free as oppose to competitors that charge a percentage of the rental income, which ate up most of the profit trying to make.""