Weekly Mortgage Rates

Courtesy of People’s Bank Home Loan Center, we have the current mortgage rates to pass along to you! Whether you are looking to buy, sell, or refinance, here are the current market rates. These are as of August 17th, 2017.

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Thank you Sidney Stonecypher at People’s Bank Home Loan Center for the rates. If you have mortgage questions you can reach her at 360-650-5365!

Home Loan and Mortgage Rate Update

The current market rates are in! There are multiple financing options for home loans so take a glace at these rates and see what rate you could lock down today! These rates are as of Thursday, August 10th.

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Thank you Sidney Stonecypher at People’s Bank Home Loan Center for the rates. If you have mortgage questions you can reach her at 360-650-5365!

Today’s Mortgage Rates

Thinking of buying, selling or refinancing? People’s Bank Home Loan Center passed along today’s rates to us. Below is a chart showing the rates as of today July, 20th.

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Thank you Sidney Stonecypher at People’s Bank Home Loan Center for the rates. If you have mortgage questions you can reach her at 360-650-5365!

End of June Mortgage Rates

The current market rates are in! There are multiple financing options for home loans, so take a glance at these rates and see what rate you could lock down today! These rates are as of Thursday, June 29th.

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Thank you Sidney Stonecypher at People’s Bank Home Loan Center for the rates. If you have mortgage questions you can reach her at 360-650-5365!

 

Home Loan and Mortgage Rate Update

The current market rates are in! There are multiple financing options for home loans, so take a glance at these rates and see what rate you could lock down today! These rates are as of Thursday, May 25th.

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Thank you Sidney Stonecypher at People’s Bank Home Loan Center for the rates. If you have mortgage questions you can reach her at 360-650-5365!

Buying, Selling, or Refinancing? Check The Rates Here!

If you are buying, selling, or refinancing, the current mortgage rates are very important. You can see below what the current rates are as of Thursday, May 18th.

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Thank you Sidney Stonecypher at People’s Bank Home Loan Center for the rates. If you have mortgage questions you can reach her at 360-650-5365!

 

See The Latest Home Mortgage Rates…

Courtesy of People’s Bank Home Loan Center, we have the current mortgage rates to pass along to you! Whether you are looking to buy, sell, or refinance, here are the current market rates. These are as of April 27, 2017.

 

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Thank you Sidney Stonecypher at People’s Bank Home Loan Center for the rates. If you have mortgage questions you can reach her at 360-650-5365!

 

The Foreclosure Crisis: 10 Years Later

The Foreclosure Crisis: 10 Years Later | MyKCM

CoreLogic recently released a report entitled, United States Residential Foreclosure Crisis: 10 Years Later, in which they examined the years leading up to the crisis all the way through to present day.

With a peak in 2010 when nearly 1.2 million homes were foreclosed on, over 7.7 million families lost their homes throughout the entire foreclosure crisis.

Dr. Frank Nothaft, Chief Economist for CoreLogic, had this to say,

“The country experienced a wild ride in the mortgage market between 2008 and 2012, with the foreclosure peak occurring in 2010. As we look back over 10 years of the foreclosure crisis, we cannot ignore the connection between jobs and homeownership. A healthy economy is driven by jobs coupled with consumer confidence that usually leads to homeownership.”

Since the peak, foreclosures have been steadily on the decline by nearly 100,000 per year all the way through the end of 2016, as seen in the chart below.

The Foreclosure Crisis: 10 Years Later | MyKCM

If this trend continues, the country will be back to 2005 levels by the end of 2017.

Bottom Line

As the economy continues to improve, and employment numbers increase, the number of completed foreclosures should continue to decrease.

What Are the Experts Saying about Mortgage Rates?

What Are the Experts Saying about Mortgage Rates? | MyKCM

Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is what the experts are saying:

Laurie Goodman, Co-director of the Urban Institute’s Housing Finance Policy Center:

“In 1984, 1994, 2000, and 2013, every time we have rate increases, we have increases in nominal home prices. We expect this to be more pronounced, as there is a big demand-and-supply gap at the present time.”

Scott Anderson, Chief Economist for Bank of the West:

“The tightening labor market, rising wage growth, high levels of consumer confidence and a millennial generation with a pent-up demand for housing should allow the housing market to weather the storm of gradually rising interest rates.”

Ivy Zelman in her latest “Z” Report:

“Although we strongly believe that the housing supply-demand imbalance for single-family homes will continue to drive above-average home price appreciation, just as falling mortgage rates aided pricing power on the margin in recent months, we expect the opposite effect to become evident in the coming months. As such, we project year-end home price inflation of 4.8% for 2017 and 4.1% for 2018.”

Bob Walters, President & COO of retail mortgage lender Quicken Loans:

“A modest increase in mortgage rates won’t have much of an effect on home purchases. A buyer may need to slightly re-evaluate which homes they can afford, but it’s not likely to make an impact on qualifying, in most cases.”

First American Chief Economist Mark Fleming:

“Our survey data shows that mortgage rates would have to be significantly higher to have any meaningful impact. The house buying power that borrowers have, even with rates below five percent, still remains historically strong.”

Remember, Johnson Team Real Estate is here to offer you LOCAL real estate advice and services. Call us today at (360) 303-2734 or email us at Info@JohnsonTeamRealEstate.com today!

Don’t Let Your Luck Run Out

Don’t Let Your Luck Run Out [INFOGRAPHIC] | MyKCM

Some Highlights:

  • The “Cost of Waiting to Buy” is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.
  • Freddie Mac predicts that interest rates will increase to 4.8% by this time next year, while home prices are predicted to appreciate by 4.8% according to CoreLogic.
  • Waiting until next year to buy could cost you thousands of dollars a year for the life of your mortgage!

Ready to buy? Call Johnson Team Real Estate today at (360) 303-2734 or email us at Info@JohnsonTeamRealEstate.com.