Instagram

TODAY’S RATES & HOUSING NEWS

Mortgage Rates have officially matched
2022 Lows with the Average 30-Year
Fixed Conforming Rate now in the 5%s!!!

The Mortgage Backed Security (MBS)
market traded up +8 bps on the week.
The 10 Year Treasury is currently
sitting at 4.03%.

Here are your Average Mortgage
Rates across the country according
to Mortgage News Daily.

A 30 Year Fixed Conventional Rate at
5.99% – equates to a $598.91 Principal
and Interest Payment per $100,000 in
Loan Amount. If you would like me to put
together scenarios for your situation, feel
free to contact me or use my Free
Mortgage Calculator below:

Mortgage Calculator – Green Home Loans

According to the National Association of
Realtors Chief Economist Lawrence Yun,
5.5 million households could qualify to
purchase with rates near 6%. Most
households won’t move towards purchase
immediately, but he expects 10% will likely
move towards buying this year. This could
equate to 550,000 new home buyers
in 2026.

Last week was a relatively slow week
for market moving data. This week will
likely be the same.

The biggest report this week is Friday’s
PPI Inflation Report.
Lower inflation helps interest rates.
Higher inflation hurts interest rates.

There are a lot of characteristics
that go into a mortgage rate –
credit score, investor, loan to
value, loan amount, costs, etc.
Please call me to go over your specific
scenario so we can price your loan
out accurately.

Or you can get a Free Mortgage Quote
or Apply for a Mortgage with the links below.

Thank You! 

Beat The Banks

OR

Register

WHEN SHOULD I REFINANCE?

If your mortgage rate is higher than
current market rates, I would
recommend calling me for a
Mortgage Review.

BEST CASE SCENARIO –
you can lower your rate and
payment or we can create strategies
to lower your overall bills or pay
off your home sooner.

WORST CASE SCENARIO –
you find out you are in the best home
loan for your situation right now.

When evaluating a Refinance, here is
the main thing you should look at.

HOW MUCH MONEY CAN YOU SAVE?

HOW LONG DOES IT TAKE TO
RECOUP THE CLOSING COSTS?

If you can lower your payment
and recoup the costs in 1-2 years,
that makes financial sense. You
start saving money immediately,
you recoup the costs quickly and if
rates drop again, just refinance again.

For example – if you can lower your
payments $175 per month and it costs
you $2,500 to do the mortgage,
Your recoup period is:

$2,500 / $175 = 14.28 months. 

If you are quoted a payment
savings of $175 per month and it
costs you $10,000 to do the mortgage,
Your recoup period is:

$10,000 / $175 = 57.14 months

If the payment savings put you
in a much better position with your
monthly budget, you still may opt
to refinance here. Just remember
that the recoup period is longer.

Refinances will also include a 1-2
month payment deferral and will
usually include a refund of your
existing taxes/insurance escrow
account. These together will often
increase your cash flow thousands
of dollars in the first 2 months
of a new mortgage.

Many lenders will offer you great
rates and skim over the cost of the
mortgage. My reputation is everything
and I’m here to advise you on a loan
that will truly benefit you and
your family.

This is the difference between
an advisor and a salesperson.
My goal is to earn your trust for life –
not just your next transaction.

Hope you have a fantastic week!!