It will be important to understand Mortgage Rates and how the increase in Rates will affect the Housing Market in Metro Detroit. I also have a solution on how you can save Thousands in Closing cost and lower your mortgage payment when rates go down.
If you’re thinking about buying or selling a home, you’ll want to keep a pulse on what’s happening with mortgage rates. Rates have been climbing in recent months, especially since January of this year. And just a few weeks ago, the 30-year fixed mortgage rate from Freddie Mac in the 4% range for the first time since May of 2019. But that climb has dropped slightly over the past few weeks (see graph below):
The recent decline in mortgage rates is primarily due to growing uncertainty around geopolitical tensions surrounding Russia and Ukraine. But experts say it’s to be expected.
Here’s a look at how industry leaders are explaining the impact global uncertainty has on mortgage rates:
Odeta Kushi, Deputy Chief Economist at First American, says:
“While mortgage rates trended upward in 2022, one unintended side effect of global uncertainty is that it often results in downward pressure on mortgage rates.”
In another interview, Kushi adds:
“Geopolitical events play an important role in impacting the long end of the yield curve and mortgage rates. For example, in the weeks following the ‘Brexit’ vote in 2016, the U.S. Treasury bond yield declined and led to a corresponding decline in mortgage rates.”
Kushi’s insights are a reminder that, historically, economic uncertainty can impact the 10-year treasury yield – which has a long-standing relationship with mortgage rates and is often considered a leading indicator of where Mortgage Rates Are Heading. Basically, events overseas can have an impact on mortgage rates here, and that’s what we’re seeing today. Know the difference between interest rates and mortgage rates.
Will Mortgage Rates Go Down?
While no one has a crystal ball to predict exactly what will happen with rates in the future, experts agree this slight decline is temporary. Sam Khater, Chief Economist at Freddie Mac, echoes Kushi’s sentiment, but adds that the decline in rates won’t last:
“Geopolitical tensions caused U.S. Treasury yields to recede this week . . . leading to a drop in mortgage rates. While inflationary pressures remain, the cascading impacts of the war in Ukraine have created market uncertainty. Consequently, rates are expected to stay low in the short-term but will likely increase in the coming months.”
Rates will likely fluctuate in the short-term based on what’s happening globally. But before long, experts’ project rates will renew their climb. If you’re in the market to buy a home, doing so before rates start to rise again maybe your most affordable option. As the Feds get Inflation and Global Stability the experts are predicting the 10-year treasury yield will go down and mortgage rates will follow. What will be important is to find the right lender that can save you money now and save you money when your refiance.
My Solutions to High Mortgage Rates and Cost ~ Save Thousands in Closing Cost and when Rates go down Refinance and Save again.
Watch the Video 👉👉👉
See how you can save thousands on your mortgage closing cost. It’s your money, we need to put it to work for you. Why give it to your lender, aren’t they making enough in what they are charging in mortgage rates?
We have our best loan officer who can assist you and answer all your questions. Unlike some other lenders, Keller Mortgage isn’t spending millions on marketing and advertising. Therefore, we pass those savings on to you by offering no fees and a low rate. Plus $1,000 Cash Credit at closing for loans $150k or more! Contact my Cell with any questions at 248-343-2459 or 👇👇👇 request help below.
Safe PDF Guides to Help You on Along Your Journey
👈👈👈 Watch Video for Sneak Peak
Don’t muddle through the Home Buying and Selling Process. Buying a new home is a dream for all of us, and it’s an emotional and stressful process.
It also involves the most significant financial transaction you probably will make in your lifetime. Your Buying Guide…will walk you through tips, strategies, and how to understand the numbers to strengthen your negotiation power.
Your Selling Guide…It will help you work through the selling process using the latest in high-tech market tools, so you make MORE Money. Our goal is to separate your home from the competition, keep Buyers focused on your house. The Selling Guide is very detailed and works step-by-step, so you’re guaranteed Top Dollar for your home.
Ready to move to the next level of understanding? Know the Market You’re In!
Video will help you through the process 👉👉👉
To succeed in an ever-changing market, I believe education is key. I don’t know about you;
I don’t want to spend more than I must when I buy. More importantly, I want every penny I’m due when I’m selling as well. So, know the trends.
Take a Peek into my Crystal Ball ~ With a massive spike in interest rates, it will be crucial to Know the Market You’re In. I’ve provided 3-year live Home Price trends by city and price range. Also, 3-year live graph regarding the housing inventory and how strong your negotiation is. You also have access to custom data for Sold Homes with direct access to the Multiple Listing Service, so you don’t have to rely on Public Websites Estimates.
Bottom Line to Morgage Rates are affected by Global Uncertainty
Mortgage rates are an important piece of the puzzle because they help determine how much you’ll owe on your monthly mortgage payment in your next home. Let’s connect so you have up-to-date information on rates and trusted advice on how to time your next move.
Simplifying Real Estate Through Education
As we move forward, it’s been challenging as we navigated through all the changes. Putting your dream of a new home on HOLD shouldn’t be one of them. Now more than ever, knowledge will be your power. Know the Market You’re In and your Negotiation Power. Check out Categories for additional updates regarding the Market | Buying | Selling
If You Need To Sell 1st… I Recommend 🛑Doing This!
No 2 homes are alike, and agents need to 🛑 marketing ONE size fits all. We no longer have an exposure problem (internet). Your home is buried on public home search internet sites. The only way to compete on those platforms is the price. If you want more money, you need to apply Influence. Separate your home from the competition, so the Buyer sees value. Keeping them focused on your property and not getting lost in homes’ inaccurate data on public internet sites is necessary. Having digital omnipresence on serval platforms is your key to success. Remember MORE INFLUENCE = MORE 💰. We have details on how you can utilize High Tech Marketing and Win!
If you have any questions, contact us: Chatbot 🤖 at the bottom. Contact me by Email 📩 or my Cell 📲 @ 248-343-2459. Would you mind sharing your thoughts below or what future article you would like to see? Your opinion is important to us…. this site is for you.🤩 To Keep up to date request our 🏡 Chat Newsletter or Follow us on Facebook, Instagram, or YouTube