Are rising rates the push buyers need?

by | Oct 5, 2018 | Mid America Mortgage, Inc, Mortgage Lending, Real Estate Market

Mortgage Rates Follow Suit

In late September, the 30-year fixed rate reached the highest level since 2011.2
Spooky? ... or Spooktacular? Despite Rising Rates, Something Good is Brewing

The combination of rising rates, a strong economy, job growth, and a tapering off in home prices creates the perfect recipe for buyers to take action now.
“As long as there is job growth, rising mortgage rates will hinder some buyers; but job creation means second or third incomes being added to households which gives consumers the financial confidence to go out and make a home purchase.”
— Lawrence Yun, NAR chief economist
Housing Trends at a Glance

Do housing trends have you spooked? Talk to us about why now is the perfect time to take action.
Sources:
[1] Federal Reserve, Open Market Operations, September 2018.
[2] Freddie Mac, September 2018.
[3] The Conference Board, Consumer Confidence Survey®, September 2018.
[4] Bureau of Labor Statistics, Employment Situation report, August 2018.
[5] CoreLogic, a data and analytics company, Home Price Insights report, August 2018.
[6] National Association of Realtors® (NAR), Existing-Home Sales, August 2018.
[7] U.S. Census Bureau, Monthly New Residential Sales, August 2018.
[8] U.S. Census Bureau, Monthly New Residential Construction, August 2018.

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