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Interest Rates | Colorado Front Range Real Estate Market Insight Blog

Thursday, November 19, 2020   /   by Kevin Schumacher

Will Mortgage Rates Remain Low Next Year?

In 2020, buyers got a big boost in the housing market as mortgage rates dropped throughout the year. According to Freddie Mac, rates hit all-time lows 12 times this year, dipping below 3% for the first time ever while making buying a home more and more attractive as the year progressed (See graph below):





When you continually hear how rates are hitting record lows, you may be wondering: Are they going to keep falling? Should I wait until they get even lower?

The Challenge with Waiting

The challenge with waiting is that you can easily miss this optimal window of time and then end up paying more in the long run. Last week, mortgage rates ticked up slightly. Sam Khater, Chief Economist at Freddie Mac, explains:

“Mortgage rates jumped this week as a result of positive news about a COVID-19 vaccine. Despite this rise, mortgage rates remain about a percentage point below a year ago.”

While rates are still lower today than they were one year ago, as ...

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  buyers, sellers, market trends, interest rates

Thursday, March 19, 2020   /   by Kevin Schumacher

Are We About to See a New Wave of Foreclosures?

With all of the havoc being caused by COVID-19, many are concerned we may see a new wave of foreclosures. Restaurants, airlines, hotels, and many other industries are furloughing workers or dramatically cutting their hours. Without a job, many homeowners are wondering how they’ll be able to afford their mortgage payments.
In spite of this, there are actually many reasons we won’t see a surge in the number of foreclosures like we did during the housing crash over ten years ago. Here are just a few of those reasons:
The Government Learned its Lesson the Last Time
During the previous housing crash, the government was slow to recognize the challenges homeowners were having and waited too long to grant relief. Today, action is being taken swiftly. Just this week:

The Federal Housing Administration indicated it is enacting an “immediate foreclosure and eviction moratorium for single family homeowners with FHA-insured mortgages” for . ...

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  buyers, sellers, market trends, kevin schumacher team, interest rates, foreclosures

Wednesday, January 22, 2020   /   by Kevin Schumacher

How Buyers Can Win By Downsizing in 2020

Home values have been increasing for 93 consecutive months, according to the National Association of Realtors. If you’re a homeowner, particularly one looking to downsize your living space, that’s great news, as you’ve likely built significant equity in your home.
Here’s some more good news: mortgage rates are expected to remain low throughout 2020 at an average of 3.8% for a 30-year fixed-rate loan.
The combination of leveraging your growing equity and capitalizing on low rates could make a big difference in your housing plans this year.
How to Use Your Home Equity
For move-up buyers, the typical pattern for building financial stability and wealth through homeownership works this way: you buy a house and gain equity over several years of mortgage payments and price appreciation. You then take that equity from the sale of your house to make a down payment on your next home and repeat the process.
For homeowners ready to do. ...

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  buyers, sellers, market trends, move up buyers, down payment, interest rates

Friday, November 22, 2019   /   by Jordan Waters

The Cost Across Time [INFOGRAPHIC]

SOME HIGHLIGHTS:

With interest rates around 3.66%, now is a great time to look back at where they’ve been over the past few decades. Comparatively, they’re pretty low!
According to Freddie Mac, rates are projected to increase to 3.9% by this time next year.
The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year and $7,200 over the life of your loan.
Maybe it’s time to lock in now, while rates are still historically low. ...

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  buyers, sellers, first time homebuyers, move up buyers, interest rates

Friday, March 15, 2019   /   by Jordan Waters

Don’t Let Your Luck Run Out If You're Looking to Buy a Home this Spring [INFOGRAPHIC]

Happy St. Patricks Day!! 
May Your Home Always Be Too Small to Hold All Your Friends!!

Some Highlights:
Interest Rates for a 30-year fixed rate mortgage have dropped to 4.41% from near 5% in 2018
Here is a flashback comparison of where 30-Year Fixed Interest Rates have been historically. See all rates from 1971 on.
March 2009: 5.00%
March 1999: 7.04%
March 1989: 11.03%
March 1979: 10.43%


Take advantage of more inventory coming to market in the spring to find your dream home!
Buying now will allow you to start earning equity today! ...

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  colorado real estate, sellers, buyers, interest rates

The Kevin Schumacher Team at EXP Realty, LLC
1615 Foxtrail Drive, Ste 260
Loveland, CO 80538
720-230-3030

Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules. © 2020 IRES. Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS or eXp Realty LLC. *Not intended to solicit buyers under buyers agency, not intended to solicit listings currently listed.*The statements and opinions contained in this advertisement are solely those of the individual author and do not necessarily reflect the positions or opinions of eXp Realty, LLC, or its subsidiaries or affiliates (the “Company”). The Company does not assume any responsibility for, nor does it warrant the accuracy, completeness or quality of the information provided.
Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules. © 2021 IRES. Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated September 20, 2021 5 PM. Information deemed reliable but not guaranteed by the MLS or Kevin Schumacher - The Kevin Schumacher Team / EXP Realty, LLC.
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