|Follow Me On:
Director / Principal / Broker
First Rate Financial Group
Phone: (800) 620-8802
License: NMLS #256707, CA-DRE 01455710
Corp. License: NMLS #1777223, CA-DRE 02075839
A Look at What 2019 Holds for Mortgages
Thirty-Year Mortgage Rates Will Hover Around 5 Percent: At the beginning of 2018, the average 30-year fixed mortgage rate was 3.95 percent. However, at the start of November, that average was up to 4.94 percent. This increase leads many industry analysts to predict that 30-year loan rates will stay around 5 percent for most of 2019. While this trend signals an increase in mortgage rates, most experts agree that rates will remain fairly stable throughout 2019.
Mortgage Lending Standards Will Become More Relaxed: The good news for borrowers is that plenty of industry analysts believe mortgage lending standards will become more relaxed in 2019. In fact, the criteria have already started to ease over the past year, and experts see no sign of this stopping in the coming year. Along with lessening criteria, major lenders are also allowing higher loan-to-value ratios and higher debt-to-income ratios. It's generally easier to qualify for a home loan today than in previous years.
Refinance Activities Will Decline as Purchase Loans Dominate: When mortgage rates climb higher, refinancing tends to decline. Since industry experts believe we'll see a steady rise in mortgage rates in 2019, they also think it's safe to assume we'll notice a decrease in refinance activities. However, because of this trend, we're also likely to see an increase in purchase loans as more new buyers qualify for a home loan.
Source: Home Buying Institute
If you or anyone you know has questions about home loan rates or products, please reach out. I'm always happy to help. Enjoy this month's issue of YOU Magazine.
First Rate Financial Group is Licensed by the California Department of Real Estate - #02075839, NMLS #1777223
You are receiving a complimentary subscription to YOU Magazine as a result of your ongoing business relationship with Fred Gruber. While beneficial to a wide audience, this information is also commercial in nature and it may contain advertising materials.
INVITE A FRIEND to receive YOU Magazine. Please feel free to invite your friends and colleagues to subscribe.
SUBSCRIBE to YOU Magazine. If you received this message from a friend, you can subscribe online.
UNSUBSCRIBE: If you would like to stop receiving emails from Fred Gruber, you can easily unsubscribe.
|First Rate Financial Group
3027 Townsgate Road, Suite 110
Westlake Village, CA 91361
Powered by Platinum Marketing
© Copyright 2024. Vantage Production, LLC.