Happy Friday!What's my home worth? (Nov 27th, 2021)
Here is snapshot of current rates as we head into the weekend. It has been a rough few days in the market, as mortgage bonds declined in 7 of the last 9 days. Rates are still super low though.
You may have heard that the Federal Housing Finance Agency announced yesterday a .5% “adverse market” fee on all refinances sold to Fannie Mae and Freddie Mac. This equates to about $1400 for the average homeowner trying to refinance. They say it is due to economic and market uncertainty. Read more here. Many in the mortgage industry are up in arms as this comes during a time when many are struggling as the economy has slowed due to Covid.
The good news for you? This fee has NO IMPACT on purchase loans. For your clients who wanted to refinance now, and move in a few years, this could make moving the SMART decision. Please share this information and ask your clients to call me to see what they can afford now.What's my home worth? (Nov 27th, 2021)
Here’s a look at what your interest rate could be on a new home purchase:
Curious what you qualify for and how that payment fits into your budget? Let us know.How much do I qualify for? (Nov 27th, 2021)