What’s Happening with Mortgage Rates, and Where Will They Go from Here?

Written by Jupiter Island Mortgage Syndicated User on March 31, 2022. Posted in For Buyers, Housing Market Updates, Interest Rates, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage, Pricing.

Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021 was steady compared to the rapid increase in mortgage rates this year: Just a few months ago, Freddie Mac projected mortgage rates would average 3.6% in 2022. Earlier this month, Fannie Mae forecast mortgage rates would average 3.8% in 2022. As the chart above shows, rates have already surpassed...

What You Can Expect from the Spring Housing Market

Written by Jupiter Island Mortgage Syndicated User on March 30, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage, Pricing.

As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune. Here’s a look at what experts say you can expect this spring. 1. Mortgage Rates Will Climb Freddie Mac reports the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite some...

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