Mortgage rates are at a record low and are expected to remain there through the fall.
For more information on how to purchase your dream home call JTS today at 662-329-9090
Good morning, i?m jeff farnham 1.
Record low mortgage rates continue to motivate potential homebuyers and drive the home buying season, which shifted from last spring to summer, and is expected to continue into the fall.
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The good news is that the 30-year fixed-rate mortgage is still below 3% in some cases.
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But remember, mortgage rates?are constantly changing.
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So the question remains: will mortgage rates creep higher, stay the same, or drift lower in the coming days and weeks?
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Experts differ in their answers, but most agree that rates should remain historically low and affordable for most borrowers in?september 2020.
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If you're looking to buy a home or refinance, you'll want to pay attention to how the rates are trending.
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If you see rates dip one day, that could be?the day?to lock-in your low rate for your home purchase or refinance.
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Mortgage rates are again at a level that would allow roughly 18 million homeowners to save an average $287 a month by refinancing, according to data from the mortgage research firm black knight.
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And keep in mind, even though the recently- announced freddie mac and fannie mae 0.5% refinance fee has been delayed from starting sept.
1 to dec.
1, experts predict that the fee could begin driving rates higher by october, when lenders start preparing for its implementation.
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So if you?re considering a refinance, you?ll certainly want to move sooner rather than later.
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Call to speak with one of our experienced loan advisors today, who can advise you best on your next step.
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Real estate agents say that the list of homebuying must- haves has changed during the pandemic.
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Buyers are now prioritizing home offices, pools, and makeshift learning centers, as working, schooling, and spending more time than ever at home, continues .
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And when it comes to home offices, agents are learning that one home office isn't enough.
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As many couples are both working from home now, two offices are a must, or another area that can be used as a second office.
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If you're looking to buy a home to accommodate your need for two separate workspaces, contact us today to get prequalified.
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Or, if you're looking to make home renovations to provide a second office, contact us for a cash-out refinance that may help cover the cost.
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According to redfin, home prices were up 11.3% year over year in july in more rural areas.
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Home prices increased 6.7% but don?t let higher home prices deter you from buying a home, as low mortgage rates are still increasing home affordability.
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Contact us today for your low-rate mortgage and see how much home you can afford.
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Also according to redfin, there?s been an increase in large home sales, which were up 21.2% year over year nationwide in july.
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Large homes qualified as those sized 3,000 ?
5,000 sq ft.
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This is compared to a 10% increase for medium-sized homes - 1,500-3,000 sq ft - and a 2.3% increase for small homes ?
300-1,500 sq ft.
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If you are looking to buy a larger home to meet your new lifestyle needs, contact us today for your low-rate mortgage options!
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We are your local mortgage advisor that you can trust to help with all your home financing needs.
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Visit our website or text jts to 33655 to fill out your application to get pre- qualified for your mortgage today.
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At jts & co.
We focus on forming relationships first with our clients.
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We want to have a clear picture of your situation, so we can find the financing solution that fits you best.
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We are local, trusted, and experienced and we want to be your lifetime mortgage advisor.
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Whether you are buying your first home or forever home, we want to work with you on all of your homebuying purchases or refinances along the way.
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Now.
And ten years down the road.
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Give us a call to discuss your situation today!
Thank you for joining me today, be sure to tune in next week!
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