Oct. 24, 2019
Ladera Ranch Lender’s Corner – 2019 Q4
RATES, RATES, RATES!
Over the past several months, mortgage interest rates have been hovering at or near 3-
year lows. Unless you’ve been living under a rock, you most certainly have been
hearing about interest rates in the news, on the radio, or just overhearing conversation
out in public. The buzz is warranted because it affects all of us! If you’re still looking to
get into the market, these lower rates mean you can afford a bigger, nicer house. If you
already own a home, you can refinance and lower your payment.
The million-dollar question I get daily: what do you think will happen to rates? We are
officially in election season and the current President (love him or hate him) has built
low rates into his campaign platform, so I believe he will do everything within his power
to keep policies favoring lower interest rates. Additionally, you have major global
instabilities like Brexit and the recent military conflicts in the Middle East and you have a
recipe for investors to keep their money parked in Mortgage-Backed Securities, which
drives rates lower.
Historically speaking, the real estate market tends to slow down during the winter
months. This is mostly because of holiday season grade school calendars. Most people
don’t want to make a big transition until the summer. What does this mean for you, a
potential buyer? This usually means you can find some better deals during the winter
plus you often have less competition for the house of your dreams. My suggestion: take
this time to get your financing in order (get fully pre-approved) as early as possible.
Don’t let those deals or these interest rates pass you by!
Want to know more?
I would love to chat about this with you some more. I absolutely love what I do and get
excited “geeking out” about the mortgage industry! If you’re ready to find out what your
purchasing power is and what it could look like to purchase, feel free to give me a call,
shoot me a text, or email me any time:
Jared Price - Senior Mortgage Advisor - NMLS #957754
cell: 408-833-9258 - email: firstname.lastname@example.org