Mortgage Rates in Free Fall – Chuck Barberini

Mortgage Rates in Free Fall – Chuck Barberini

Chuck Barberini Real Estate – Barberini Robinson Real Estate Group

Well, if you’ve been sitting on the fence, now is the time to make a move. Rates are down, but inventory is still tight. It seems that the only homes still on the market are overpriced. The lower end of all areas are still moving fast. Because of the slow growth of our economy the loan rates were already hanging around at record lows, when you add in the uncertainty of Brexit, rates are really reflecting the need for a strong housing market. One part of the article that really stands out is the reluctance of the lenders to loan money by stricter underwriting standards. Check out this article and let me know what you think. Chuck

Brexit

Mortgage Rates in Free Fall Since Brexit Vote

DAILY REAL ESTATE NEWS | TUESDAY, JUNE 28, 2016

Ever since Britain’s surprising vote to leave the European Union, U.S. home buyers and home owners have been reaping an expected benefit — mortgage rates that are quickly dropping. Mortgage rates are now at the lowest average in more than three years, and economists expect them to head even lower.

Read more‘Brexit’ Could Give US Real Estate Brief Boost

On Monday, the 30-year fixed-rate mortgage averaged 3.46 percent, near the lowest average since late 2012, realtor.com® reports.

“Lower rates produce lower monthly payments and greater buying power—those who are well qualified can afford a home that’s 8 percent more expensive than at the beginning of the year,” Jonathan Smoke, realtor.com®’s chief economist, writes in a recent column. “That’s more than enough to offset the rise in prices during that time.”

That said, low mortgage rates can prompt lenders to get more strict with underwriting standards, Smoke says.

“As mortgage rates declined this year, we’ve seen that credit access has gone down too,” he notes. “That’s because lenders have become more risk-averse as their profit margins have been whittled down by the double whammy of lower rates and higher origination and servicing costs.”

Mortgage Rates and Market Data

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Chuck Barberini Real Estate – Barberini Robinson Real Estate Group

Mortgage Rates in Free Fall – Chuck Barberini

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.

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