Interest Rate Trends
Updated 09/22/2024 Earlier this year I suggested interest rates could come down .5% to 1% this year. Well they were in the low 6’s now, low 5’s for FHA, down from the low 7’s earlier this year and I think they’ll move a touch lower between now and election time. Isn’t it amazing how interest […]
Interest Rate Trends
Updated 10/10/2023 There are some financial indicators suggesting interest rates might come down a little next year. I’m keeping my fingers crossed but not holding my breath as it appears interest rate ups and downs run in 12 to 18 year cycles. If so, rates will continue up for the next 10 years before they […]
Interest Rate Trends
Updated 03/28/2023 There are some financial indicators suggesting rates might come down a little later in the year. The same home today will have a 30% higher monthly payment (PITI) compared to a year ago. For now, the roughly 150% rise in interest rates over the last 12 […]
Interest Rate Trends
Updated 8/31/2022 Interest rates have yo-yo’d down & up again a little over the past month or so but basically doubled this year. The Federal Reserve is now doing a balancing act between keeping interest rates up to slow inflation and keeping interest rates low enough to stimulate the economy through this mild recession we […]
Interest Rate Trends
Updated 7/12/2022, Although interest rates have pretty much doubled since last year they have currently dropped a tiny bit. Low or no income qualifying loans, ARMs (adjustable-rate mortgages) that offer a discount for the first few years to help people qualify, 40 year mortgages and even interest only loans, are all coming back!. (Just like […]
Interest Rate Trends
Updated 6/20/2022, Interest rates have pretty much doubled since last year and are currently stagnant with little to no movement. Rest assured creative loans will resurface to make house payments more affordable. These will likely include ARMs, adjustable-rate mortgages that offer a discount for the first few years to help people qualify, 40 year mortgages and even […]