interest rates

Unlike last year, the residential real estate market kicked off 2020 with a bang! In their latest Monthly Mortgage Monitor, Black Knight proclaimed: “The housing market is heating entering 2020 and recent rate declines could continue that trend, a sharp contrast to the strong cooling that was seen at this same time last year.”

Spring is right around the corner, so flowers are starting to bloom, and many potential homebuyers are getting ready to step into the market. If you’re thinking of buying this season, here’s how mortgage interest rates are working in your favor.

Some Highlights: With interest rates hovering at near historic lows, now is a great time to look back at where they’ve been, and how much they’ve changed over time. According to Freddie Mac , mortgage interest rates are currently hovering near a five-decade low. The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year or $7,200 over the life of your loan. Maybe it’s time to lock in now while rates are still low.

Some Highlights: Interest rates will be lower than they have been since before 1980 at 3.8% and are projected to remain steady throughout 2020! According to CoreLogic , home prices will appreciate at a rate of 5.4% over the course of the year. Experts predict that the number of homes sold next year will be equal to or outpace 2019.

Black Friday is behind us and holiday gifts are flying off the shelves in stores and online. Unlike last year, however, there’s another type of buyer that is very active this winter – the homebuyer. Each month, ShowingTime releases their Showing Index, which tracks the average number of appointments received on active U.S. house listings. […]

Over the past year, mortgage rates have fallen more than a full percentage point. This is a great driver for homeownership, as today’s low rates provide consumers with some significant benefits. Here’s a look at three of them: Refinance: If you already own a home, you may want to decide if you’re going to refinance. […]