Homebuyers are typically faced with the contemplation as to whether to buy now or wait until a better time in the market. Rates are at a historic place at the moment and we may be entering a new chapter for interested homebuyers.
Rates are at a very interesting place at the moment. Rewind to a year ago and experts would have estimated that rates would be in 5 percent. But where are rates now? More than a whole percentage number lower in the 3 percent.
A couple of factors play into this unexpected outcome. President Trump has been putting the pressure on the Fed to keep rates low. And in August the Fed lowered rates, this is the first time since 2008 that the Fed has reduced rates. And the Fed may lower rates again after the next meeting that is held on September 18. Trade wars can also cause rates to lower. The trade wars between the U.S. and China, two countries with the strongest economies in the world, can decelerate economies and lower rates.
Last but not least, you’ve probably heard something about a yield curve. A yield curve is a curve on a graph that is a good predictor of economic behavior. Currently the curve is inverted, which is an indicator of a recession and consequently low rates and low rates to come.
It’s difficult to know where exactly the market will go, however real estate professionals feel confident that rates will stay low for the rest of 2019. Although there could be repercussions from such low rates. Typically, low rates have come with a rise in home prices.
We’ll have to wait and see if the Fed lowers rates even more later this month.
The interest rate on your home loan is a fee for borrowing money from a mortgage lender. Your interest rate is a percentage of the amount that you are borrowing to finance your home and is paid to your lender monthly throughout the life of the loan. The amount that you are paying in interest can quickly add up. Therefore, the current low rates can be extremely beneficial if you are planning on purchasing a home between now and the end of the year because you could be keeping hundreds of dollars in your pocket each month. Low mortgage rates can also benefit those who already own a home and are interested in refinancing their current home loan. Refinancing not only could help you get a lower rate, but it could also eliminate mortgage insurance if you’re paying it, which could save you even more money each month. Below is a table with a couple of loan scenarios comparing monthly mortgage payments with interest rates at what they are around today and what experts estimated they would be around at this time of year.
As you can see, between the different interest rates in the loan scenarios you would save $123 each month and thousands along the life of the loan. Now could be a good time to take advantage of these costs savings and make the leap towards homeownership.
If you’re in the market for a home in Colorado, Idaho, Washington, or Oregon or thinking about refinancing, now may be better than ever. With rates as low as they are, you may be able to save hundreds of dollars each month. Contact Sammamish Mortgage to see what rates you may qualify for.
The Indian farmhouse accommodation goes on to capitalize on a mature evolutionary synthesis of ancestral aesthetics and contemporary features. With this, the outside and the inside of farmhouses became places of comfort with nature. In this blog, we delve into 15 incredible farmhouse designs that entail a harmonious blending. While they exhibit different spaces in […]
When it comes to enhancing the kitchen window over the sink, various design ideas are possible to decorate Indian homes. From rooted in tradition to Western-style modular kitchens offer both functionality and attractive aesthetics. Apart from the sleek profile and raised breakfast counter, the kitchen window over sink is another spot to add appeal and […]
Indian homes place equal importance on pooja room door designs as they do on main door designs. With diverse and unique ethnic backgrounds, every family strives to reflect their personalities and identities in their designs. These identities can encompass religious or spiritual interests, local contexts, or other personal elements. This series of blogs, featuring 50 […]
The door design for main door is a defining feature of any Indian home, embodying both style and cultural significance. In a country rich with diverse architectural traditions, the entrance to your home reflects not only personal taste but also cultural heritage. Whether you’re drawn to the intricate carvings of traditional Indian door designs or […]
Pillar design is a cornerstone of architectural elegance, seamlessly blending structural support with aesthetic appeal. Our blog, “50 Best Pillar Design Inspirations,” celebrates this essential element, showcasing a variety of styles from classical Doric and Ionic to contemporary and avant-garde innovations. Whether you’re an architect, interior designer, or a design enthusiast, these pillar design inspirations […]
The integration of screening evergreen trees serves as an artful blend of practicality and natural beauty. These screening evergreen trees, with their lush foliage and diverse benefits, play a crucial role in enhancing privacy. It also blocks unwanted views, and contributes to the overall well-being of homeowners. From the majestic Jamun trees to the versatile […]
Gate Design is an important feature of any home. Numerous scopes for experimentation open up when delving into the design possibilities. Materials like wood and black steel are popular options in Indian homes. At the same time, designers also experiment with a combination of materials that suits their aesthetic. Buying mass-produced Sydney automated gates has […]
Hyderabad is a city that boasts a rich and diverse architectural heritage that has been shaped by its history and cultural influences. The city has been ruled by various dynasties, including the Qutb Shahis, the Mughals, and the Nizams, who have all left their mark on its architecture and influenced young architects in Hyderabad. The […]
The word “Vastu” refers to the dwelling place of humans and gods, while “shastra” means science or knowledge, hence Vastu Shastra for house is the science of architecture. Vastu Shastra for house is an ongoing practice in India since one can remember. Almost every architect and designer wields it in conceptualizing their projects. Vastu Shastra provides […]
Turning an empty plot and executing an entire design from plinth to top is like taking a blank canvas and painting an entire story on it! Architects are creators; creators of spaces, giving life and meaning to them. The Architects not only represent their city, but are also extraordinarily responsible in shaping the city’s skyline.The […]