Mortgage rates ticked higher this week, however, they have been trending downward over the last year. William Raveis Mortgage regional vice president Melissa...
William Raveis Mortgage regional vice president Melissa Cohn joins Wealth! to give insight into the downtrend of mortgage rates and what investors and home buyers should keep in mind moving forward.:"If we want to see the floodgates open, I would say that the rate has to go down to 5.5%. But the fact that we're down to 6.5% or just below that, or if you think about it, we were not too long ago hovering in the mid-sevens.
Um I think that every quarter percent cut in interest rates will sort of bring that next level or next group of buyers back into the marketplace. Now, we've seen economic data that has clearly supported the fact that the rate of inflation is absolutely moderating down towards the fed's 2% goal. I mean, rates are down and I think there's been a tremendous amount of pent up demand for people who have wanted to refinance either to consolidate a higher rate home equity loan to pay off credit card debt for home improvement.
Oh, I think it's a wonderful thing that any grant programs that people can get in order to help them, you know, with down payments or with closing costs, you know, and especially with the new N A ruling, if they potentially would have to pay the buyers, brokers commissions as well, you know, whatever we can do in order to get people into homes is the right thing to do.A 29-year-old man has died nearly a week after he was shot by armed police in a quiet Surrey village.Williams-Sonoma, Inc.
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