Archive for the Mortgage Rates Category

5 Things You Can Do To Get The Best Mortgage Rate

The median home price in the United States currently sits at around $276,000, according to recent data from real estate listing site Zillow. Since most people don’t have that much cash on hand, anyone who’s thinking about buying a home right now will likely need to borrow most of the money from a mortgage lender — plus interest. That’s why it’s important to shop for the best interest rate available, and do your own part to ensure you can qualify for the best pricing your lender offers. Below are just a few things borrowers can do to help improve their

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Job and wage growth, elections affecting rates

Labor Data, Elections Play Tug-of-War With Mortgage Rates Overview: Over the past week, stronger than expected labor market data was negative for mortgage rates, while the election results were positive. The net result was that mortgage rates ended the week slightly higher. Friday’s highly anticipated monthly Employment Report revealed another month of improvement in the labor market that was well above average. In October, the economy added 250,000 jobs, far exceeding the consensus forecast of 190,000. The job growth was spread across many sectors of the economy, including health care, construction, and manufacturing. The unemployment rate remained unchanged at 3.7%, which is the lowest level since

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Are rising rates the push buyers need?

Mortgage Rates Follow Suit In late September, the 30-year fixed rate reached the highest level since 2011.2 The combination of rising rates, a strong economy, job growth, and a tapering off in home prices creates the perfect recipe for buyers to take action now. “As long as there is job growth, rising mortgage rates will hinder some buyers; but job creation means second or third incomes being added to households which gives consumers the financial confidence to go out and make a home purchase.” — Lawrence Yun, NAR chief economist Do housing trends have you spooked? Talk to us about why now

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