Chuck Barberini Real Estate – How High Will Mortgage Rates Actually Climb?

Chuck Barberini Realtor – Contra Costa County Real Estate – Intero Walnut Creek

DAILY REAL ESTATE NEWS | MONDAY, AUGUST 17, 2015

The lowest mortgage rates on record have lured buyers during the last few years, but the Federal Reserve has already given plenty of signals that will soon come to an end.

Read moreRising Mortgage Rates May Spark Buying Frenzy

house2

Mortgage rates are already inching up, ever-so-slightly. From January to June, the 30-year fixed-rate mortgage climbed from 3.7 percent to 4.2 percent. Mortgage rates recently have been hovering around 4 percent.

In this latest era of super-low mortgage rates, what’s normal? A 6 percent interest rate is “normal,” says Jonathan Smoke, realtor.com®’s chief economist. He says mortgage rates likely won’t hit that point in the next two years, however.

“We will likely see less than a 100 basis point increase over the next two years, which would bring us to around 5.5 percent in 2017,” he says.

If Smoke’s prediction holds true, mortgage rates will then remain below normal even in two years. However, that increase in rates would translate into a 12 percent increase in monthly payments over current rates, according to Smoke.

For now, mortgage rates remain low, and in 80 percent of the U.S. markets, it’s more affordable to buy a home than rent, according to realtor.com®.

Source: “Just How High Might Mortgage Rates Go?” realtor.com® (Aug. 14, 2015)

 

#MartinezRealEstate #InteroWalnutCreek #ChuckBarberiniRealtor #ContraCostaCountyRealEstate
Homes for sale Walnut Creek CA – Homes for sale Concord CA -Homes for sale Pleasant Hill CAHomes for sale Martinez CA – Homes for sale Pittsburg CA – Homes for sale Antioch CA

Homes for sale Clayton CA

 

Author: Chuck Barberini

As a professional Realtor for over 15 years, I have lucky enough to work with several companies and many different brokers. I have learned and gained experience through all of my interactions and transactions. I have continued to work diligently to nurture and support my network of clients, both buyers and sellers, Real Estate colleagues, investors and other professionals in related fields. By working on and developing relationships, I have been able to maintain and grow my business through the dramatic ups and downs in the Real Estate market over the past decade. I am, however, more than just a Real Estate professional, I’m also a neighbor, a friend, husband and father. I take a keen interest in people and their well-being, working hard to earn and maintain their trust and respect. My upbringing here in the San Francisco Bay Area, as well as my professional experience, has given me the ability to work easily with a variety of Real Estate clients who have a variety of needs. From helping first-time home-buyers find that special home together, to strategizing with investors to find and secure wealth-building assets, I help navigate and problem-solve the complex processes and negotiations that are inherently part of this industry. I prefer to focus on the relationship rather than just the transaction, believing that a satisfied client will share my name with their friends and colleagues. This approach has helped me expand my local network to include the legal community involved with probate issues. And I am proud to be a preferred agent to a number of professionals in this area.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.