Mortgage Rates Update

– Crystal Vagnier – Select Group – Writer/Editor

October saw a growth of 2% for housing listings, ending the inventory decline that lasted for four years giving hope to many of today’s buyers. Many of these listings were condos and townhouses, and less expensive than the market’s inventory a year ago.

On the other hand, the 30-year fixed mortgage rates increased from 5.04% to 5.06%, decreasing the amount of submitted applications by 2.5% as well as a decrease of 4% in refinance applications. It’s forecast that the 30-year fixed mortgage rates will increase to 5.3% in 2019. Affordability is still a concern among buyers with the increasing mortgage rates, but the growth in inventory is a welcome sign.

Contact one of our Stanford Mortgage Advisors to see what your mortgage rate options are at (866) 912-3017.

©2019 A division of Finance of America Mortgage LLC || NMLS ID #1071 | Mortgage Banker License #0910184 | Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act.
Our product disclaimer:
This is not a commitment to lend. Prices and guidelines are subject to change without notice. Some products may not be available in all states. Subject to review of credit and/or collateral; not all applicants will qualify for
financing. It is important to make an informed decision when selecting and using a loan product; make sure to compare loan types when making a financing decision.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

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