Homeowners, Homebuyers, and Mortgage Rates…Good News, Bad News Scenario… · AI for LinkedIn

Homeowners, Homebuyers, and Mortgage Rates…Good News, Bad News Scenario…

A mortgage market shift means fewer borrowers are benefitting from ultra-low mortgage rates that have somewhat normalized since Fed tightening began in September.

According to FHFA data, only 73.3% of U.S. mortgage borrowers now enjoy rates below 5.0%, a significant decline from Q1 2022 when 85.5% benefited from lower rates.

This shift highlights the impact of rising interest rates on homeowners.

_________________________________________

Buying New York property? Don't go it alone!

We'd like to connect you with the best professionals in the business.

We've got you covered with vetted attorneys, mortgage brokers, real estate agents, and more.

And, of course, remember that the title insurance company used for your transaction matters a great deal!

And while it’s not widely known, it's your right to choose your provider!

Learn why title insurance companies are NOT all the same in our FREE guide here https://www.linkedin.com/pulse/top-reasons-new-york-homebuyers-can-should-choose-michael-aw12e/.

Hallmark Abstract Service…You Buy Real Estate, We Protect It!

Courtesy Lance Lambert at ResiClub

0 comments