As the nation ruminates on the court ruling on the mandatory mask mandate, remember, “You do not need a parachute to skydive. You only need a parachute to skydive twice.” It is a safe bet that the Federal Reserve will raise short term rates more than twice before summer. This month’s STRATMOR blog is titled, “A Primer on the Federal Reserve and Mortgage Rates.” Here in Atlanta, in the MBA-STRATMOR Peer Group Roundtable meetings, much of the conversation revolves around interest rates, as one can imagine. The Federal Reserve is going to have a hard time bringing down inflation without triggering a recession, according to Goldman Sachs Group who believes that there is about a 35 percent chance the U.S. will fall into a recession over the next two years. Another topic is the population migrating due to tax reasons. Property taxes aren’t good, but fall into the “interesting” category as some states’ taxes have been rising while
maybe i should consider refinancing. who do these low rates really help in your experience? they help new home buyers primarily. first time home buyers even more. refinance rates are actually a little bit higher than purchase rates. generally a half a percent or a little bit more. for example, if you were to buy a 30 year fixed home mortgage on a $200,000 home you re looking at about $800 a month. this applies tow people that have a credit stkoer score of about 680, 20% down, been in your job for two years. they can have a bankruptcy but not for the last ten years. no foreclosures for five to seven. they go up to $417. above that you re looking at a jumbo or conforming loan that does have higher rates but they are available. jenna: most people s mortgage are at a higher amount than what it s currently wofrplt it mean