Tim Kepler NMLS # 224085

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Rates appear to be steady for the last week.

Here is a cocktail to get you in the Easter mood?

In the market for a beautiful home! Her are some affordable new home for you in a great neighborhood. Call, text or message me if you would like to know more about financing.

Facebook Post: Good News for Homebuyers? Mortgage Rates Might Keep Dipping!
Looking to buy a home? Here's some encouraging news!

Mortgage rates have been trending down for the past few months, but there have been some ups and downs along the way. This is because of positive economic data, like strong job growth.

Even though the Fed might not cut rates soon, there's a chance they could keep going down! Here's why:

Quantitative Tightening (QT): Imagine the Fed is selling off mortgage-backed securities. This reduces supply, which (think basic economics!) could push prices up and bring mortgage rates down (they have an inverse relationship).
The takeaway? There's a good chance mortgage rates will keep dropping in the coming months.

Thinking of buying a home? Now might be a great time to explore your options!

P.S. Check out the comments for some graphs showing the recent trends in mortgage rates and the Treasury market!

www.goldenstatehomeloans.biz

Buying a house is still a good move even with higher rates!

Rates are higher, and buying is still a good option The most Compelling reason to purchase a home even with the higher rates.

**WOW** Mortgage Interest Rates Soar to Hit a 23-Year High: What You Need to Know

If you're dreaming of buying a home or refinancing your current mortgage, you might want to sit down for this news. The latest survey on mortgage interest rates has some significant findings that could impact your financial plans. In this post, we'll break down the key points and discuss why this trend is expected to continue in the future.

The Recent Survey by FHLMC.
Mortgage interest rates have been on the rise since January 2022, and the most recent survey shows they've reached their highest point in 23 years. This means that if you're in the market for a mortgage, you'll likely be facing higher rates than we've seen just two short years 21 months ago. Those low rates are very unlikely to return, and you would be well advised to realize that 7.7% interest rates have been the average rate over the last 50 plus years. Holding out for an interest rate in the 3s or the 4s will most likely result in you waiting for empty promises.

What Does This Mean for You?
Higher mortgage interest rates mean that borrowing money to buy a home or refinance your existing mortgage will cost you more. Here's a simple way to understand it: When interest rates are high, you'll end up paying more money in interest over the life of your loan. This can add up to thousands of dollars, making homeownership less affordable for some and impossible for many people. This could be a good thing if you are in a high demand area. If we have fewer buyers, there will be fewer multiple offer situations and purchase prices may not go as high as in the past. However, there is no data to support the notion that home prices are falling but there is data showing the rise in prices has tapered.

Why Are Rates Going Up?
One of the main reasons behind the recent surge in mortgage interest rates is inflation. Inflation is the increase in the prices of goods and services over time, and it affects the purchasing power of our money. When inflation goes up, the value of the dollar goes down. Interest rates go up to compensate for the decreased purchasing power of the dollar. Currently inflation is at an annual rate of 3.67% for all goods and services.

The Current Trend
Unfortunately, the trend of rising interest rates is likely to continue. The trend for inflation has turned upward after hitting the recent bottom of 2.97% in June 2023. It increased in both July and August. Two of the biggest causes of inflation are increasing costs for businesses. The increase in interest rates creates an increasing cost to run a business because businesses are charged higher rates on their loans and lines of credit. They pass this cost along to consumers. The other large cost to business is the cost of oil. Oil goes into everything we touch. Oil or fuel is used to transport goods from one location to another. Thus, the cost to get an item to the market goes up. That cost is passed along to the consumer with a higher price tag. If inflation remains a concern, rates will continue to increase. And lenders will keep their rates higher to protect themselves from potential losses. So, what can you do in this situation?

Tips for Homebuyers and Homeowners
1. **Act Sooner Rather Than Later**: If you're thinking about buying a home or refinancing, consider doing it sooner rather than later. Locking in a lower interest rate now can save you a substantial amount of money over the life of your loan.
2. **Explore Fixed-Rate Mortgages**: Fixed-rate mortgages offer stability because your interest rate remains the same throughout the life of your loan. This can be a good option when rates are on the rise.
3. **Budget Wisely**: Plan your budget carefully and factor in the higher interest rates when calculating your monthly mortgage payments. Be sure you can comfortably afford your new mortgage rate.
4. **Stay Informed**: Keep an eye on financial news and trends. Understanding the economic factors driving interest rates can help you make informed decisions.

In summary, mortgage interest rates have recently reached their highest point in 23 years, and this trend is likely to continue due to increasing inflation. If you're in the market for a mortgage, it's crucial to be aware of these changes and take proactive steps to secure the best possible deal for your financial future. Remember, making informed decisions now can save you money in the long run, and that's always a wise move when it comes to your finances.

You may be seeing videos and post from people projecting that a housing crash is coming. Well this was in the newpaper this morning, 8/23/2023. The number of sales drops but the prices continue to rise! Don't be taken by some Youtube, Instagram or TikTok that has little if any experience or knowledge of real estate. Speak to a profession and collect the information to make an informed decision.

You can also reach out to me and we will collect and provide you with all the data you need to make the best decision for yourself!

Mortgage rates continue to increase. This keeps making it more difficult for renters to transition to home owners. The best part of the increase is you have less competition when making an offer. We have some great tools to help you qualify. Message me to learn some of our creative ways to help you qualify for more home and make a winning offer.

Here is the lastest on the survey on Mortgage Rates. They are trending upward. They will increase in next weeks survey. If you are not locked in and in the middle of a transaction, it looks like locking sooner rather than later would be the best move. The second image below also suggests that rates will increase when looking at last years movement from July to November. The key rate that influences mortgages (the 10 Year T) moved from 2.5% in mid July to 4.3% in the begining of November 2022. This year the 10 year has been above 3.5% and has already moved to 4.19%. It's tough to tell exactly where rates will reverse their trend but it looks like they will reach new highs.

And the rates survey is update this morning with a decrease as I indicated you would see today. The press release from FHLMC survey shows a decrease in the 30 year fixed of 0.18 from the previous week. That puts the 30 year below 6.8% in their surevey. Great news about this trend is it has continued so far this week. My firm is seeing rate closing in on 6.625 to 6.5 range. Of course your exacte rate will depend upon your individule situation.

So much for the colapse of the housing market! NMP posts Redfin's report showing prices are back to the peak in 2023. If and when rates come down, I would anticipate an even greater number of buyers chasing fewer properties.

https://nationalmortgageprofessional.com/news/homes-again-selling-near-record-highs?utm_source=National+Mortgage+Professional&utm_campaign=3e419e069c-EMAIL_CAMPAIGN_2023_07_17_12_34&utm_medium=email&utm_term=0_-3e419e069c-%5BLIST_EMAIL_ID%5D

Interest rates are going through the 7% ceiling. Their trend has been increasing since the half year point. Remember this information is for the previous week. Based on current activity, next week should show a reverse in the trend.

Mortgage Interest Rates at June Lows! 🎉🔥 Looking for the best 30 year conventional mortgage rates? Golden State Home Loans can help! Our Mortgage Brokers can assist you with the best 30 year conventional mortgage rates. We all offer FHA and VA 30 year mortgages at the best prices.

The weekly interest rate survey Weekly interest rates, June 15, 2023

Weekly interest rates, June 15, 2023
FHLMC has released their interest rate survey this morning and they are reporting that rates were lower last week. That is good news for buyers that need a mortgage. Lower monthly expenses are always a good thing! So what should you do with this information and how will this information hinder or help you in the home buying landscape.
The commentary from FHLMC is very enlightening. And I think it would be good advice to take note of these comments. They recognize that economic factors are having a big impact on the interest rate markets, sighting inflation and economic growth. They mention that we may have reached the apex of the interest rate tightening phase. And they mention that interest rates will most likely decrease towards the end of 2023 and into 2024. With that being the assumption, one would make a case for not paying for discount points because you will want to refinance in six to 18 months in the future. This would be a good course of action provided you don’t need to pay for points to qualify.
To get a thorough analysis of this and other scenarios set up a meeting with me for a quick free consultation.

Choose your sources wisely. National sources continue to report that home prices are moving down. That is true when looking at sales prices for the nation but when you look at the information from the California Association of Realtors you see a different picture for the Golden State. The attached graph demonstrates that demand is still strong in California and supply is limited. This is the reason values continue to rise. The worst part is housing costs continue to rise and the monthly payment for buyers just keeps getting higher. I know I regret not purchasing sooner. Some folks think it is a good thing to wait for rates to retreat. And rates might be less but in 2024 or 2025. However, when that happens, you won’t be the only person in the market and the competition to get your offer accepted will be fierce. If you want to get ahead of the competition and discover how to minimize your monthly payment now, I have a few secrets to share with you. Click on the link below if you won’t to know more!

Here is the latest interest rate survey from FHLMC. You can see rates are higher this year over 2022. The trend is increasing for mortgage rates and home ownership expense. Check out my website or send a message from the button below and see how low of a rate we can get you!