Mortgage

Mortgage And Real Estate News This Week

Mortgage And Real Estate News This Week
Written by Publishing Team

a happy New Year! I have to say that while it is still socially acceptable to do so. Here’s what you need to know for the year ahead when it comes to mortgages and real estate.

1. Mortgage rates are on the rise

After hitting record levels in 2021, interest rates on new mortgages and ARM are likely to rise this year. Although it will remain low by historical standards, we are unlikely to see rates below 3 again for the foreseeable future.

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2. The housing market must cool down

The past year also saw one of the most competitive housing markets ever, which heavily favored sellers. This year, buyers should have a little more room to breathe, and prices should rise more slowly. It’ll still be competitive, but not nearly as crazy.

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3. Mortgage rates are already rising

The first week of the new year saw the average interest on a 30-year fixed mortgage rise by 13 basis points, to 3.4 percent. Prices should continue to bounce around that range for a while, according to most experts.

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4. How to become a homeowner this year

With the refrigerated housing market, this may be your best opportunity in years to indulge in home ownership. In order to do this, it’s a good idea to lay out your strategy ahead of time and really know what to look for before you start shopping.

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5. Investing the proceeds of cash exchange

This is not official investment advice, but if you have money left over from cash refinancing, you can invest it and make a profit, rather than just paying off that part of the mortgage. Here’s what you need to know about how this works.

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