Mortgage Rates in Free Fall – Chuck Barberini

Mortgage Rates in Free Fall – Chuck Barberini

Chuck Barberini Real Estate – Barberini Robinson Real Estate Group

Well, if you’ve been sitting on the fence, now is the time to make a move. Rates are down, but inventory is still tight. It seems that the only homes still on the market are overpriced. The lower end of all areas are still moving fast. Because of the slow growth of our economy the loan rates were already hanging around at record lows, when you add in the uncertainty of Brexit, rates are really reflecting the need for a strong housing market. One part of the article that really stands out is the reluctance of the lenders to loan money by stricter underwriting standards. Check out this article and let me know what you think. Chuck

Brexit

Mortgage Rates in Free Fall Since Brexit Vote

DAILY REAL ESTATE NEWS | TUESDAY, JUNE 28, 2016

Ever since Britain’s surprising vote to leave the European Union, U.S. home buyers and home owners have been reaping an expected benefit — mortgage rates that are quickly dropping. Mortgage rates are now at the lowest average in more than three years, and economists expect them to head even lower.

Read more‘Brexit’ Could Give US Real Estate Brief Boost

On Monday, the 30-year fixed-rate mortgage averaged 3.46 percent, near the lowest average since late 2012, realtor.com® reports.

“Lower rates produce lower monthly payments and greater buying power—those who are well qualified can afford a home that’s 8 percent more expensive than at the beginning of the year,” Jonathan Smoke, realtor.com®’s chief economist, writes in a recent column. “That’s more than enough to offset the rise in prices during that time.”

That said, low mortgage rates can prompt lenders to get more strict with underwriting standards, Smoke says.

“As mortgage rates declined this year, we’ve seen that credit access has gone down too,” he notes. “That’s because lenders have become more risk-averse as their profit margins have been whittled down by the double whammy of lower rates and higher origination and servicing costs.”

Mortgage Rates and Market Data

www.gophoenixpm.com

www.charliebarberini.com

 

Chuck Barberini Real Estate – Barberini Robinson Real Estate Group

Mortgage Rates in Free Fall – Chuck Barberini

Author: Chuck Barberini

Chuck Barberini is a Realtor with over 18 years in the business. He’s a seasoned expert who has the knowledge and ability to navigate the intricacies of the real estate business, so you don’t have to. Over the years, Chuck has worked with several industry leading real estate companies and many knowledgeable and experienced Brokers. With over a decade’s experience in the difficult and complicated world of probate real estate and inherited homes, Chuck has now joined forces with the innovative and rapidly growing EXP Realty as a Broker Associate. Chuck received his real estate license in 2001 after being encouraged by a real estate broker friend. Originally this was a part time venture, but he eventually made the switch to full time as he discovered his enthusiasm for the job as it combined his interests in housing with helping others achieve their dreams of homeownership. Having lived in the San Francisco Bay Area his entire life, Chuck has the area knowledge required to meet the needs of buyers, sellers and investors. When he’s not delivering top notch service to his clients Chuck is a family man, having been married to his wonderful wife, Tracy, for over 30 years. Together they have raised three incredible boys. When it comes to real estate, Chuck is dedicated to serving his clients with honesty and integrity. He always has their best interests in mind and prides himself on his communication and responsiveness. Chuck would love nothing more than to lend his knowledge and experience toward helping clients with their real estate endeavors, but he doesn’t simply expect their business—he only asks for a chance to interview so that he can prove Chuck Barberini Real Estate is a great fit.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.