Friday, June 14, 2019 / by Jordan Waters

[MARKET UPDATE] Front Range Real Estate June 2019

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Mortgage Rates Sink to their Lowest Levels in 21 Months After 6 Weeks of Decline

In November, mortgage rates appeared ready to soar across the 5 percent threshold. Seven months later, concerns over trade and global growth have driven them below 4 percent.

According to the latest data released Thursday (6/6) by Freddie Mac, the 30-year fixed-rate average sank to 3.82 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount and are in addition to the interest rate.) It was 3.99 percent a week ago, and 4.54 percent a year ago. The 30-year fixed rate fell for the sixth week in a row and hasn’t been this low since September 2017.

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2 Myths Holding Back Home Buyers

Freddie Mac recently released a report entitled, “Perceptions of Down Payment Consumer Research.”Their research revealed that, For many prospective homebuyers, saving for a down payment is the largest barrier to achieving the goal of homeownership. Part of the challenge for those planning to purchase a home is their perception of how much they will need to save for the down payment…

…Based on our recent survey of individuals planning to purchase a home in the next three years, nearly a third think they need to put more than 20% down.”

Featured Kevin Schumacher Team Home Listing

13547 Detroit Street, Thornton, CO 80241

Beautiful 3 bedroom, 4 bath home that has been meticulously cared for by 1 owner. This home features an open floor plan, hardwood floors, vaulted ceilings, multiple living spaces in addition to the formal dining area, a gas fireplace, granite counters in the kitchen with a large island and main level study. Outdoor you will find established landscaping and a large covered back deck perfect for entertaining! Many neighborhood amenities including a pool and easy access to I25 for commuting!

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