Mortgage Rates Drop Below 3% Tempting Homebuyers New York Times
Today’s Mortgage Rates – Key Rate Slides Bankrate
Santa Barbara Homes and Estates
Please follow and like us:
Mortgage Rates Drop to Historic Lows!
You also might be interested in
The Santa Barbara Real Estate Scene The Santa Barbara Real Estate market continued to reflect trends that have been with us all year: relatively few homes for sale, higher mortgage interest rates, and a gradual cooling from the very hot market we experienced during the height of the pandemic. Median prices and numbers of sales often flatten or decline in late summer into January compared to spring and early summer months. The market seems to have moved into this pattern. At the same time, continued interest rate increases and other factors are putting pressure on prices, offset to a large degree by a low supply of available homes for sale (inventory). For more information including Videos and Statistics click Read More below.
Artist Morgana Welch Surging mortgage rates and still-high home prices are not leaving already demoralized home shoppers much to be thankful for these days. Nonetheless, the housing market remains competitive as demand continues to outpace supply. Would-be buyers with the stomach to stay in the market are gobbling up the limited inventory, especially new homes, as builders continue offering incentives to hopeful homeowners. Click Read More below for more information and video from Altos Research.
Rain Maker The Financial Times / Meredith Whitney reported that Freddie Mac wants to enter the secondary home equity loan market in a win-win for the government, Wall Street, and consumers with Mortgage Reform that could unleash the next big U.S. stimulus. The U.S. housing market is harboring the potential for unprecedented economic stimulus that wouldn't require any federal spending, according to Meredith Whitney, the one-time Oracle of Wall Street” who predicted the Great Financial Crisis. Meredith noted that mortgage finance giant Freddie Mac asked its regulator last month to enter the secondary mortgage market, or home equity loans, which allow homeowners to borrow against the equity in their houses. Such borrowing can be used for vacations, weddings, new cars, investments, medical bills, or starting a business. In other words, it's more money that could power the economy. Letting Freddie Mac initiate this mortgage reform for home equity loans could start putting $1 trillion into consumers' wallets as soon as this summer and $2 trillion by the autumn, Whitney estimated. If fellow mortgage giants Fannie Mae and Ginnie Mac follow along, the potential stimulus could top $3 trillion. Click Read More below for the whole post and more information about interest rates.
This website is not the official website of Sun Coast Real Estate. Sun Coast Real Estate does not make any representation or warranty regarding any information, including without limitation its accuracy or completeness, contained on this website. Real Agents affiliated with Sun Coast Real Estate are independent contractors and not employees.
3112 State Street, Santa Barbara, California 93105
Mark Lomas BRE 00898298
Kirsten Wolfe BRE 01309570