What’s Happening with Mortgage Rates, and Where Will They Go from Here?

Written by Stuart FL Mortgage Syndicated User on April 5, 2022. Posted in For Buyers, Housing Market Updates, Interest Rates, Mortgage Rates Stuart FL, Pricing, Stuart FL Mortgage.

Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021 was steady compared to the rapid increase in mortgage rates this year: Just a few months ago, Freddie Mac projected mortgage rates would average 3.6% in 2022. Earlier this month, Fannie Mae forecast mortgage rates would average 3.8% in 2022. As the chart above shows, rates have already surpassed...

A Key To Building Wealth Is Homeownership

Written by Stuart FL Mortgage Syndicated User on April 5, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Rates Stuart FL, Rent vs. Buy, Stuart FL Mortgage.

The link between financial security and homeownership is especially important today as inflation rises. But many people may not realize just how much owning a home contributes to your overall net worth. As Leslie Rouda Smith, President of the National Association of Realtors (NAR), says: “Homeownership is rewarding in so many ways and can serve as a vital component in achieving financial stability.” Here are just a few reasons why, if you’re looking to increase your financial stability, homeownership is a worthwhile goal. Owning a Home Is a Building Block for Financial Success A recent...