Mortgage Rates Drop Below 3% Tempting Homebuyers New York Times
Today’s Mortgage Rates – Key Rate Slides Bankrate
Santa Barbara Homes and Estates
Mortgage Rates Drop to Historic Lows!
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Assumable Loan www.TheRealEstateScene.com Would you like a 3% Mortgage Rate? An Assumable Loan might be something to consider. Assumable loans are loans where the buyer takes over the interest rate that the seller currently has if the seller's lender allows for that. This allows for more affordability and increased opportunities for sellers and is something listing agents should factor into their marketing. Click Read More below for Video.
The average rate on the popular 30-year fixed mortgage hit 3.70% on Friday, the lowest since November 2016, according to Mortgage News Daily. That rate will likely dip even lower Monday, as bond yields continue to fall.
Rain Maker The Financial Times / Meredith Whitney reported that Freddie Mac wants to enter the secondary home equity loan market in a win-win for the government, Wall Street, and consumers with Mortgage Reform that could unleash the next big U.S. stimulus. The U.S. housing market is harboring the potential for unprecedented economic stimulus that wouldn't require any federal spending, according to Meredith Whitney, the one-time Oracle of Wall Street” who predicted the Great Financial Crisis. Meredith noted that mortgage finance giant Freddie Mac asked its regulator last month to enter the secondary mortgage market, or home equity loans, which allow homeowners to borrow against the equity in their houses. Such borrowing can be used for vacations, weddings, new cars, investments, medical bills, or starting a business. In other words, it's more money that could power the economy. Letting Freddie Mac initiate this mortgage reform for home equity loans could start putting $1 trillion into consumers' wallets as soon as this summer and $2 trillion by the autumn, Whitney estimated. If fellow mortgage giants Fannie Mae and Ginnie Mac follow along, the potential stimulus could top $3 trillion. Click Read More below for the whole post and more information about interest rates.
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