The Current Landscape of Mortgage Rates According to Freddie Mac's Survey In a recent development in the real estate finance sector, mortgage rates have shown stabilization, consistently remaining in the 6% range. This trend, highlighted in Freddie Mac's latest Primary Mortgage Market Survey® (PMMS®), is a key indicator of the current state of the housing market. As of January 11, 2024,[...]
Chief Economist of the National Association of Realtors (NAR), Lawrence Yun, anticipates a 15% surge in existing home sales next year and projects mortgage rates to stabilize between 6-7% by Spring 2024. The report also highlights an unprecedented 22% rise in buyer income, marking the largest yearly increase, with down payments reaching their highest levels in two decades. On Nov. 15,[...]
MarketNsight identifies 7% as the new sensitivity threshold for mortgages. The leading real estate data and analysis provider reports that rates in the second week of August 2023 rose to 7.09% - surpassing the 20-year highs set last fall. On the way to 7.09%, pending sales rapidly declined, completely reversing the positive trend witnessed in the third week of July[...]
Interest rates have been on the rise this spring, and the Federal Reserve Board has hinted it will increase the Federal Funds Rate several more times this year in an effort to tame inflation. The increases leave homebuyers in a quandary. Monthly house payments are higher with increased rates, so purchasing an existing home can be tough. Uncertainty about how[...]
A new year means new homebuying opportunities, but with mortgage rates rising, what does this mean for 2022 homebuyers? According to Redfin, there will be a significant drop in affordable housing in the cities of Atlanta, Austin and Phoenix. The housing boom created in the wake of Coronavirus caused home prices to skyrocket and housing inventories to dramatically decrease. The Federal Reserve[...]
Academy Mortgage is pleased to report that the real estate industry is continuing to strengthen, as mortgage applications rise while mortgage rates remain affordable. According to the Mortgage Bankers Association, mortgage applications have increased for the second week in a row. For the week ending Sept. 3, 2014, total mortgage applications increased 0.2 percent when compared to the week before. As reported[...]
Over the last month, mortgage interest rates have been falling, making now an excellent time to purchase a new home in metro Atlanta. Academy Mortgage is excited about the lower interest rates and the fact that it is more affordable to purchase a home now than it was just a month ago! Home buyers paying a mortgage on a home priced[...]
The number of applications rose and mortgage rates continued to stay low, despite yet another announcement from the Federal Reserve that it would further taper its stimulus down to just $65 billion per month. According to the most recent numbers from the Mortgage Bankers Association, mortgage applications rose 0.4 percent in the week ending Jan. 31, 2014 compared to the week[...]
The HBA’s Presidential Award is the only award presented at the discretion of the HBA President, making it a special acknowledgement of an individual’s commitment and service to the HBA and the home building industry. The recipient of the 2011 Presidential Award is a true champion for our industry, Senator Johnny Isakson. Senator Isakson has been and continues to be a[...]
Looking for Atlanta real estate? Well you may just be in luck. Not only are home prices low, but fixed mortgage rates continue to fall. Last week Freddie Mac reported that the average rate for 30-year fixed mortgages fell to 4.12; the lowest level in three decades. The average rate on 15-year mortgages fell to 3.33, the lowest level on[...]