According to a February 12, 2020 article, written by Jann Swanson for Mortgage News Daily, “Refinancing was up for the third straight week, adding 5 percent to that index which is now 207 percent higher than on an annual basis. The share of applications that were for refinancing grew to 65.5 percent; 1 percentage point higher than the prior week.”
Mortgage rates were low in January and continued to fall to historic lows in February. According to many sources, now is a great time to refinance a home, or get a great mortgage on a home purchase.
According to industry reports September and October reflected an improving residential construction industry, with an expectation that the trend will continue through year-end.
If you haven’t refinanced lately, it is time to consider taking advantage of low rates. According to an article on Mortgage News Daily there were over 8 million properties that are considered to be refinanceable in June 2019.
Fannie Mae’s Home Purchase Sentiment Index (HPSI) hit a record high in July 2019, according to an article on FannieMae.com. They state that the increase results from “Confidence About Not Losing Job” as well as other factors.
A cash-out refinance provides you access to the increased equity value of your home. With low interest rates this can be an attractive option to many homeowners.
Many key factors affect mortgage rates, with global financial market trends leading the indicators. Rates dropped quickly this week according to this article: Mortgage Rates Drop Quickly as Market Panic Sets In, written by Matthew Graham, dated May 23, 2019.
What makes a residential property interesting to you may be quite different than what makes a property interesting to your friends, family, neighbor or co-worker. We aren’t talking about your typical home, we’re talking about uniquely interesting homes. Maybe who owns it or owned it makes it interesting, like the homes of the rich and famous. Maybe the original architect is notorious. Or maybe there is some other surprise that makes a home unique.
Federal Reserve Chairman Jerome Powell announced at a press conference in April: It’s “a great time to be patient”. This statement followed the Federal Reserve vote to hold interest rates steady.
In many US cities home price increases have outpaced wage growth for several years. Recent months have shown lower increases, creating a buyer’s market as we enter the Spring home buying season.