Mortgage Rates Post Biggest Jump in Nearly a Year ☘ Hoey Team ☘ eXp Realty Florida

Dated: September 23 2019

Views: 11

Mortgage rates jumped dramatically this week but stand to dip some in the near future after the Federal Reserve lowered interest rates Wednesday. The 30-year fixed-rate mortgage rose to a 3.73% average—its largest week-over-week increase since October 2018. However, despite the uptick, rates remain historically low, Freddie Mac reports. So buyers; please do not panic in the face of this latest hike.   Check our other posts for more info too.

“Despite the rise in mortgage rates, economic data improved this week—particularly housing activity, which gained momentum with a noticeable rise in purchase demand and new construction,” says Freddie Mac Chief Economist Sam Khater. “Home buyers flocked to lenders with purchase applications, which were up 15 percent from a year ago, and residential construction permits increased 12 percent from a year ago to 1.4 million—the highest level in 12 years. While there was initially a slow response to the overall lower mortgage rate environment this year, it is clear that the housing market is finally improving due to the strong labor market and low mortgage rates.”

Freddie Mac reported the following national averages with mortgage rates for the week ending Sept. 19:

  • 30-year fixed-rate mortgages: averaged 3.73%, with an average 0.5 point, rising from last week’s 3.56% average. Last year at this time, 30-year rates averaged 4.65%.
  • 15-year fixed-rate mortgages: averaged 3.21%, with an average 0.5 point, rising from last week’s 3.09% average. A year ago, 15-year rates averaged 4.11%.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.49%, with an average 0.4 point, up from a 3.36% average last week. A year ago, 5-year ARMs averaged 3.92%.

Article content from Realtor Magazine and Freddie Mac; please let us know if you have questions on the real estate market market.

Barry is a CLHMS see here how we can help with higher end properties.

Please visit our Hoey Team ☘ Luxury Home Market Page Here

Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website.  â˜˜

We hope that you find the information useful.  If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team â˜˜ brokered by eXp Realty

Email us at Barry@SWFLLuxury.Com  or KimZuponcic@Gmail.com or Call/Text the Hoey Team ☘ at:  (239)-360-5527 

“Please Share this and our informational website with anyone who you think the info will help. 

Feel free to refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals from Past Customers, Friends and Fellow REALTORS, who we help in any way we can. 

Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials and Sales Stats.  Thanks, Barry & Kim â˜˜

Blog author image

Barry & Kim, Hoey Team 🍀 239RealEstateDeals.Com LLC ☘

"Your Real Estate Concierge" If you are looking for a REALTOR® or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you wit....

Latest Blog Posts

📣 The Pain of Panes: New Windows in Short Supply 🏡 Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ Southwest Florida 🌴

Two-thirds of builders cited a glass shortage for windows, shower doors, etc.  The supply problem?  A lot of it is manufactured in China, Mexico and India.ORLANDO, Fla. – Glass

Read More

🚨 November 2021 📢 Just Released Market Report for Naples Area with information for all of Southwest Florida ☘ Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ SW FL 🌴

Hello,Barry & Kim with the Hoey Team ðŸ€ 239RealEstateDeals.Com LLC â˜˜ hope that you and yours are doing good; wherever you are.11-24-2021 - Hot off the press please

Read More

🚨 New Bidding Wars Expected as International Buyers Return 🏡 Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ Southwest Florida 🌴

Inventory remains tight, but it could get tighter if more buyers arrive.  Some South Florida agents say they’re already getting calls from returning international buyers.MIAMI –

Read More

🏡 HUD Keeping FHA Premiums High at Least a Little Longer 📈

An FHA report finds stability and suggests premiums – money paid by borrowers to offset future loan troubles – should be lowered.  But HUD wants a “cautionary approach.&rdquo

Read More