06/16/2022
Positive vibes only today!
Yes, Fed raised the rate by .75% today. This created a rally in equity and bond markets, thus give mortgage rates a pricing improvement today. We're going to continue to see a turbulant market, so make sure you work with people you trust. As advisors our team will review your rate options with Conventional, Jumbo, VA, FHA, and USDA.
Homebuying is still affordable - home appreciation is still slated at 4% + for this year. Compare that with rent appreciation of 16.2% and buying a home is still your best bet.
If you don't like the sound of a 6% rate - message us and ask about 2/1 buydowns. This is a great option to get into your new home with a more affordable rate, and we can refinance when rates move back down as anticipated.