It’s already a buyer’s market out there in Wisconsin real estate for the Milwaukee and Green Bay markets. Now is the time to buy as we’re seeing mortgage rates flirt with all time lows in the last couple of days since the debt ceiling increase was signed. The average thirty year fixed rate has now [...]
Most everyone realizes mortgage rates are low and home prices have come off historical highs. But how much do those factors contribute to buying power? First, consider interest rates. An indicative 30-year fixed rate today is 4.375%. For every $1,000 borrowed, you’ll pay principal and interest of $4.99 monthly. At 5%, that figure increases to [...]
Continue reading about Interest Rates, Home Prices and Buying Power
You don’t have to be a rocket scientist to figure out how to get your mortgage application approved these days, but it wouldn’t hurt.
With mortgage meltdowns, plummeting home prices and soaring foreclosure rates constantly in the news, it’s no wonder people are wary of the housing market these days. But contrary to popular belief, things are not as dismal as they seem, according to Lawrence Yun, chief economist of the National Association of Realtors. Yun debunks 10 commonly [...]
Homeowners may soon enjoy mortgage rates as low as 4.5 percent if the Treasury Department has its way. According to The Wall Street Journal’s on-line edition, the department is discussing a plan that would use Freddie Mac and Fannie Mae to push banks to make mortgages available at more than a full percentage point below [...]
