by Elsa Soto | Jul 2, 2018 | Blog, Buyers, Local Events, Mortgages, News, Real Estate News
Daily Mortgage Rate
Welcome to this weeks snapshot of Orlando’s Mortgage Rate Monday! Take a look at the rates that have lowered just a bit since the last snap shot. Now has never been a better time to invest your hard earned money into something that will continue to reward you, especially with ownership!
Mortgage rates are determined by the lender and can be either fixed, staying the same for the term of the mortgage, or variable, fluctuating with a benchmark interest rate. Mortgage rates vary for borrowers based on their credit profile. Here is a snap shot of the daily mortgages rates as of today, Monday, June 25th 2018. While the rates shown are not guaranteed for everyone, this gives the average buyer a good idea of what their rate should look like. We always recommend you speak with your local realtor to find the best loan program for you Orlando Home purchase. Take advantage of these mortgage rates now before it changes, contact us today!
Source: Bankrate.com
by Elsa Soto | Jun 25, 2018 | Blog, Buyers, Mortgages, Real Estate News
Welcome to this weeks snapshot of Orlando’s Mortgage Rate Monday! Take a look at the rates that have lowered just a bit since the last snap shot. Now has never been a better time to invest your hard earned money into something that will continue to reward you, especially with ownership!
Mortgage rates are determined by the lender and can be either fixed, staying the same for the term of the mortgage, or variable, fluctuating with a benchmark interest rate. Mortgage rates vary for borrowers based on their credit profile. Here is a snap shot of the daily mortgages rates as of today, Monday, June 25th 2018. While the rates shown are not guaranteed for everyone, this gives the average buyer a good idea of what their rate should look like. We always recommend you speak with your local realtor to find the best loan program for you Orlando Home purchase. Take advantage of these mortgage rates now before it changes, contact us today!
Source: Bankrate.com
by Elsa Soto | Jun 14, 2018 | Blog, Investment Property in Florida, Mortgages, News, Property for Sale
Orlando Mortgage Rates Keep Steady
Mortgage rates are determined by the lender and can be either fixed, staying the same for the term of the mortgage, or variable, fluctuating with a benchmark interest rate. Mortgage rates vary for borrowers based on their credit profile. Here is a snap shot of the daily mortgages rates as of today, Thursday June 14th, 2018. While the rates shown are not guaranteed for everyone, this gives the average buyer a good idea of what their rate should look like. We always recommend you speak with your local realtor to find the best loan program for you next Orlando Home purchase. Take advantage of these mortgage rates now before it changes, contact us today!
by Elsa Soto | Jun 7, 2018 | Homes, Villas and Condos, Investment Property in Florida, Mortgages, News, Real Estate News
Mortgage rates moved lower again this week, only the second time this year that rates have fallen in back-to-back weeks.
According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average slipped to 4.54 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.56 percent a week ago and 3.89 percent a year ago.
The 15-year fixed-rate average fell to 4.01 percent with an average 0.4 point. It was 4.06 percent a week ago and 3.16 percent a year ago. The five-year adjustable rate average dropped to 3.74 percent with an average 0.4 point. It was 3.80 percent a week ago and 3.11 percent a year ago.
The hangover from global events surrounding Spain and Italy lingered into this week, which moderated mortgage rates. But the pause seems short-lived. Indications are that rates will resume their upward march, particularly after the Federal Reserve meets next week when the central bank is widely expected to raise its benchmark rate.
Long-term bond yields have begun to rise again. The yield on the 10-year Treasury – one of the most closely watched indicators for mortgage rates – rebounded to 2.97 percent Wednesday. It had sunk to 2.77 percent on May 29 after rising to a high of 3.11 percent on May 17. When yields go up, home loan rates also tend to rise.
“Mortgage rates rose late last week as political uncertainty around elections in Italy and Spain waned,” said Aaron Terrazas, senior economist at Zillow. “With no major announcements or economic data releases this week, financial markets will likely focus on global political news and trade tensions following the recently announced U.S. tariffs on steel and aluminum.”
Bankrate.com, which puts out a weekly mortgage rate trend index, found that nearly two-thirds of the experts it surveyed say rates will rise in the coming week. Elizabeth Rose, sales manager at Nations Lending, is one who predicts higher rates.
“The European Central Bank has sparked some bearish concern with their inflation expectations and we are seeing that play out in the U.S. bond market,” Rose said. “Mortgage bonds have fallen below support levels and we could see some additional price volatility leading into next week’s Fed meeting and expected rate hike.”
Meanwhile, last week’s brief dip in rates caused mortgage applications to rise for the first time in more than a month, according to the latest data from the Mortgage Bankers Association. The market composite index — a measure of total loan application volume – increased 4.1 percent from a week earlier. The refinance index rose 4 percent, while the purchase index also grew 4 percent.
The refinance share of mortgage activity accounted for 35.6 percent of all applications.
“Last week, applications were up across the board as rates dropped,” said David Stevens, MBA president. “The rates were pushed down as international investors bought up U.S. Treasuries to offset concerns about global issues. Overall, though, we are still in a rising rate environment, and we do not see that changing. Purchase applications did increase and were higher than the same week one year ago. This is a good sign that, despite the head wind from tight housing inventory, 2018 remains a stronger year for home purchases than 2017.”
This is encouraging news for the Real Estate market in the Four Corners! Not only for local realtors but also for our local home buyers that are looking to lock in their mortgage rates. Maybe you have not gotten far enough to find yourself a reputable lender who is willing to help you achieve your ultimate goal. Contact our office today and our experienced agents can help walk you through this process, every step of the way!
by Elsa Soto | May 10, 2018 | Buyers, Homes, Villas and Condos, Investment Property in Florida, Mortgages, News, Property for Sale in Orlando, Real Estate News, Uncategorized
WASHINGTON (AP) – May 10, 2018 – The key long-term U.S. mortgage rate held steady this week, providing a lure for potential homebuyers as the spring buying season goes forward.
Mortgage buyer Freddie Mac said Thursday the average rate on 30-year, fixed-rate mortgages was 4.55 percent, unchanged from last week. The benchmark rate rose steadily for most of April, reaching its highest level in more than four years. By contrast, the rate averaged 4.05 percent a year ago.
The average rate on 15-year, fixed-rate loans declined slightly to 4.01 percent from 4.03 percent last week.
Despite higher borrowing costs and home prices, demand for home purchases has grown in the spring buying season as the economic outlook has continued to improve and bolstered consumer confidence.
Homes sold at a solid annual pace of 5.6 million in March, the National Association of Realtors reported last week, even though the number of houses for sale has plunged. As a result, average home prices are rising at more than twice the pace of wages.
The tight job market, solid economic growth and restrained inflation have kept mortgage rates steady, Freddie Mac chief economist Sam Khater suggested. “As we head into late spring, the demand for (mortgage) credit remains rock solid, which should set us up for another robust summer home-sales season,” he said.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week.
The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. The fees on 30-year and 15-year fixed-rate mortgages were unchanged from last week at 0.5 point and 0.4 point, respectively.
The average rate for five-year adjustable-rate mortgages rose to 3.77 percent from 3.69 percent last week. The fee remained at 0.3 percent.
In your search for your Orlando Vacation Home, considering mortgage rates and fees play an important role. Be in the know with your Local Realtor at Bardell!! We are sure to keep you up to date with fitting properties for your situations and the best loan options to fit your budget. You are not alone in this journey! Contact us today to lock in your mortgage rate with a reputable lender and find your investment or second/vacation home today.
Source: Florida Realtors
