Bill Emerson joined CNBC to discuss mortgage rates, the real estate market, and the affect rising rates is having on the economy.
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Mortgage rates are still near historic lows and many great programs for mortgages are available only for a very limited time. What does that mean for you? Now just might be your last chance to take advantage of the best mortgage market in decades.
What if I told you that adding some extra cash to each monthly payment could potentially shave months off of your term and save you thousands in interest a month? What if I told you that you could see just exactly how much you could save over the life of your loan with one simple calculator?
According to the Primary Mortgage Market Survey report released this week, rates are starting to rise. By no means have you missed your opportunity to take advantage of low rates - they're still pretty darn near to record lows - but the trend might be on the upswing, and I would be woefully remiss if I didn't try to encourage you to get in while the gettin is good.
Happy 2013! The new year is all about ritual and resolutions. Everyone plans to eat better, work out more, and get more organized or spend more time with friends and family. We're all guilty of at least one of these, aren't we? I wonder, did you, my mortgage-rate seeking friends, resolve anything fun this year? This year, I resolved to avoid a cliche resolution and promised to laugh more and worry less, and bring you the PMMS report every Thursday!
Welcome to the last Primary Mortgage Market Survey of the year. And fortunately for all you rate watchers, it ends on a good note! 30-year fixed rates drop this week, landing near record lows!
Greek philosopher Heraclitus once said "the only constant is change." As much as we would like things to remain the same – our babies to stay little, our waistlines to stay small, our mortgage rates to remain low – they never do, or will. This week's Primary Mortgage Market Survey is out and rates are both higher and lower than last week. It just goes to show how quickly these crazy low rates can change. If you're not refinancing into a lower rate, you may miss out on your opportunity. There is never going to be a better time, because tomorrow never comes.
There are only a handful of things that can be measured in "record lows" - temperature, birth rates, sea ice...um...oh, mortgage rates! Of course! And this week, my friends, mortgage rates dropped! It wasn't a dramatic drop by any means, but a drop is a drop and that means more money in your pocket. What are you waiting for?
Freddie Mac released its mortgage rates and economic forecast for 2013 and the news is looking pretty good.