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The Refinancing Window Is Closing
Interest rates are creeping up and property values are starting to fall from their peak. Homeowners hoping to capitalize on an equity spike need to get their refinancing deals settled now. If you are considering listing now, put your house on the market today. However, potential buyers may benefit from waiting a bit as home prices continue to level out.
30 Year Fixed Mortgage Rate
|Today’s Mortgage Rate||2.919%|
|Change From Yesterday||-0.028|
|Change From One Week Ago||+0.052|
|Change From One Year Ago||-0.226|
15 Year Fixed Mortgage Rate
|Today’s Mortgage Rate||2.191%|
|Change From Yesterday||-0.010|
|Change From One Week Ago||-0.016|
|Change From One Year Ago||-0.528|
Today’s Financial Headlines
The majority of the homeowners that requested pandemic mortgage forbearance have now recovered financially. However, there are still over a million homeowners in forbearance, and some of them will be at the end of their 18 month grace period this fall. if you won’t be able to make your payments when forbearance ends, this might be a good time to sell your home. This guide walks you through the options.
The faster you pay off your mortgage, the less interest you pay. Some people opt for 15 year mortgages, but then they are obligated to a higher monthly payment. Others choose the lower mandatory payment they can get with a 30-year mortgage, but they make extra payments whenever their budget allows. The end goal for all of these strategies is the same; pay off the mortgage faster and save money. This guide shows you several different strategies for faster repayment.
Federal reserve officials are concerned about the rising costs of homes in the US, including the ways in which rising home prices will trickle down to rising rent prices. Housing affordability has been a long term economic crisis in the US, and the current market boom is making the problem worse. The fed is considering cutting their treasury bond purchases to slow the market.