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July 28, 2020

Ten Year Bond, Yahoo, What Do you Predict Rates Are Going To Do?

Ok, this is nothing to be alarmed about. 

Wow, if you just locked your rate, good job, not bad, not bad at all. 

Hmmmm, looks like we have been sitting here for a while, Corona Rates?

Did you know that the area around the sun is actually hotter than the sun itself, but wait, there's more, it's called the Corona!

Does anyone else see the trend that I see? 

Have you ever thrown a basketball or tennis ball at the ground and failed to catch it. 
What happened next was probably an accurate depiction of what's illustrated above. 

Everything that goes up must come down, not everything that goes down comes back up. If you expected rates to go back up, you have been holding your breath since before I was born. 

Last, President Trump and Warren Buffet both claim they see rates hitting negative rates in America eventually, Buffet says he bets no later than 30 years, he cant say if it would be 10 or 15, but he is confident he knows where rates and the world economy will be 30 years from now. He says its actually easier to predict 30 years than 15 years because there are too many variables to be able to bet on the short run. He says he only bets on the long run. 

I guess when you already have more than you can spend, safer investments seem more attractive. 

Rates are going down, down, down, I would not pay for a lower rate unless you are going to recoup the cost in less than 3 years. Just imagine what everything will be like 2023. Keep in mind by next year, every car manufacture will be producing fully autonomous electric cars. I told you that 6 years ago when it was confirmed by a meeting between ADOT and the regulators of the auto insurance industry, I watched that meeting live and it was epic! This is the decade of automation, if I have a job doing anything I have done in my life 10 years from now, I would be unpleasantly surprised. 

Summer Economy

The economy began to resume, only to retract again in some markets. The real estate market, though, has seen consistent activity. LendingTree found that 53 percent of buyers will buy in the next year. The biggest reason? Sixty-seven percent say it’s due to low mortgage rates; which hit below 3% this month for the first time ever.

Buyers have delayed purchases for months but are urgent to take advantage and find more space for working and being outdoors. New listings are still down nationally but now is a great time to sell your house as buying interest heightens. Multiple offers and a quick turn around could be in your favor.

Are you considering selling or buying a home? Let’s explore your local market and get you the right price.

Experts predicted a hot summer market as more buyers began to return to the market, even with historic lows in inventory. Last month, eager buyers acted fast to lock in low-interest rates and houses were rushing off the market. HousingWire found that “the percentage of newly listed homes to accept an offer within 14 days increased from 42% in May to 47% in June.” In some markets, like Columbus and Kansas City, homes made pending status in only four to six days.

Demand is at ’25 percent above pre-pandemic levels’ as eager buyers enter the summer market. Redfin reported that purchase applications for mortgages had a 9 week consecutive gain by the end of June and refinancing applications saw another surge as rates hit record lows. As sales move quickly, , rates continue to decline, lenders are working harder than ever and will reach a 14-year high in the industry.

July 22, 2020

1.99% RATE 15 YR Fixed

Stay tuned. I will go into details shortly, do not go directly to Quicken, you want to go through me to get the best service and pricing.