Mortgage rates for 30-year fixed loans held firm yet again, while 15-year fixed loans slipped lower and 5/1 ARMs were unchanged, according to a NerdWallet survey of mortgage rates published by national lenders Wednesday morning.

Yesterday’s economic reports were essentially a non-event. The news was mixed: a little good, a little not-so-good, but all in all pretty much as expected. It was only enough to nudge 15-year fixed loans down a fraction. Friday’s U.S. employment report is the next scheduled gauge of the domestic economy of major significance.

For homeowners, no news is good news. Mortgage rates continue to drift sideways, holding on to 2017 lows. Thirty-year fixed mortgage rates near 4% — even lower at some lenders — are just about as good as they get. That’s half their 44-year historical average of 8%.

Interest rates on home loans are not the problem for home buyers these days. In many parts of the country, a continued lack of home inventory remains the barrier to homeownership.

MORTGAGE RATES TODAY, WEDNESDAY, MAY 31:

(Change from 5/30)
30-year fixed: 4.08% APR (NC)
15-year fixed: 3.45% APR (-0.02)
5/1 ARM: 3.81% APR (NC)

» MORE: How much home can you afford?

Homeowners looking to lower their mortgage rate can shop for refinance lenders here.

NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

More from NerdWallet
Best lenders for FHA loans
Get a mortgage preapproval
Find a mortgage broker

Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: hal@nerdwallet.com. Twitter: @halmbundrick.

The article Mortgage Rates Wednesday, May 31: Holding at Half Their Historical Average originally appeared on NerdWallet.

Realty Solutions Group was built around a simple but elusive concept: provide brokers and clients with the highest level of service in the industry through cutting-edge sales, marketing programs and a culture that values innovation, relationships and a strong local focus.

In less than 5 years, Realty Solutions Group is among the top independent brokerage firms in S/E Wisconsin.

As a locally-owned, independent company, Realty Solutions Group is deeply committed to supporting the communities and clients we serve. We are constantly evolving, but remain focused on that one simple idea behind our founding.

We are a full service brokerage with discounted commissions. We offer no long term listing contracts, a Performance Guarantee, Smart Seller Program and a Communication Guarantee. Contact us today and let us provide you with the very best real estate experience.

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If you are thinking about listing your house for sale this year, here is the #1 reason to list Now!

Buyer Demand Continues to Outpace the Supply of Homes for Sale 

The National Association of REALTORS’ (NAR) Chief Economist Lawrence Yun just recently commented on the inventory:

“Last month’s dip in closings was somewhat expected given that there was such a strong sales increase in March at 4.2 percent, and new and existing inventory is not keeping up with the fast pace homes are coming off the market.

Demand is easily outstripping supply in most of the country and it’s stymieing many prospective buyers from finding a home to purchase”.

The current Existing Home Sales Report notes that there is a current 4.2-month supply of homes for sale. This remains lower than a normal market which requires a 6 month supply, and 4.6% lower than a year ago.   

The chart below reveals the year-to-year inventory shortages experienced over the last 12 months:

Anything less than a six-month supply is considered a “seller’s market.”  All of the above data is just more reason to list your home for sale now if you have been contemplating it.

Bottom Line

Let’s get together and discuss the supply conditions in your neighborhood to be able to assist you in gaining access to the buyers who are ready, willing and able to buy now!

Realty Solutions Group was built around a simple but elusive concept: provide brokers and clients with the highest level of service in the industry through cutting-edge sales, marketing programs and a culture that values innovation, relationships and a strong local focus.

In less than 5 years, Realty Solutions Group is among the top independent brokerage firms in S/E Wisconsin.

As a locally-owned, independent company, Realty Solutions Group is deeply committed to supporting the communities and clients we serve. We are constantly evolving, but remain focused on that one simple idea behind our founding.

We are a full service brokerage with discounted commissions. We offer no long term listing contracts, a Performance Guarantee, Smart Seller Program and a Communication Guarantee. Contact us today and let us provide you with the very best real estate experience.

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Mortgage rates for 30-year fixed loans held steady, while 15-year fixed loans ticked higher and 5/1 ARMs were unchanged, according to a NerdWallet survey of mortgage interest rates published by national lenders Tuesday morning.

The remarkable recent period of calm mortgage rates may be coming to an end soon. With President Trump back in Washington, politics may boil over into the stock and bond markets again. And this short workweek also comes loaded with a number of economic scorecards, including the monthly jobs report on Friday.

Already today, a measure of consumer spending met expectations, posting solid gains for April. U.S. household incomes were also up. Remember, good news for the economy is usually bad news for mortgage rates. As lenders keep an eye on these reports, signs of continued economic growth may cause mortgage rates to rise. On the other hand, disappointing news — or political mayhem — can move mortgage rates lower.

MORTGAGE RATES TODAY, TUESDAY, MAY 30:

(Change from 5/26)
30-year fixed: 4.08% APR (NC)
15-year fixed: 3.47% APR (+0.02)
5/1 ARM: 3.81% APR (NC)

» MORE: How much home can you afford?

Homeowners looking to lower their mortgage rate can shop for refinance lenders here.

NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

More from NerdWallet
Cost of living calculator
Compare mortgage refinance rates
Find a real estate agent

Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: hal@nerdwallet.com. Twitter: @halmbundrick.

The article Mortgage Rates Tuesday, May 30: Mostly Steady; Economic Reports Looming originally appeared on NerdWallet.

Realty Solutions Group was built around a simple but elusive concept: provide brokers and clients with the highest level of service in the industry through cutting-edge sales, marketing programs and a culture that values innovation, relationships and a strong local focus.

In less than 5 years, Realty Solutions Group is among the top independent brokerage firms in S/E Wisconsin.

As a locally-owned, independent company, Realty Solutions Group is deeply committed to supporting the communities and clients we serve. We are constantly evolving, but remain focused on that one simple idea behind our founding.

We are a full service brokerage with discounted commissions. We offer no long term listing contracts, a Performance Guarantee, Smart Seller Program and a Communication Guarantee. Contact us today and let us provide you with the very best real estate experience.

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According to the current report of the US Census Bureau, more Americans choose to own a home over signing a lease to rent in the first quarter of 2017. This is the first time since 2006 where the amount of new homeowners outnumber the number of new renter households.

Americans choose to own and are jumping straight into home ownership rather than renting first.  Of the 1.22 million new households that were formed in the first quarter, 854,000 were new-owner households.

This means the home ownership rate for new households was 70%!

That is huge news as the national home ownership rate is currently 63.6% and was only near this number back in the second quarter of 2004, when home ownership was at an all-time high of 69.2%.  These numbers show people choose to own instead of rent.

A current Wall Street Journal article pointed to the rise in first-time home buyers coming to market as a reason for the jump:

“The return of first-time buyers is accelerating. In all they have accounted for 42% of buyers this year, up from 38% in 2015 and 31% at the lowest point during the recent housing cycle in 2011, according to Fannie Mae, which defines first-time buyers as anyone who hasn’t owned a home in the past three years.”

Ralph McLaughlin, Trulia’s Chief Economist, had this to say about what a bump in new homeowner households could mean for the housing market:

“Strong renter household formation is one of the reasons why the home ownership rate has continued to drop since the onset of the housing crisis, so any sign this trend is reversing is something to take note of. We look forward to future releases of these data to determine whether this is a statistical blip or a trend.”

Bottom Line

As more and more potential first-time buyers realize their ability to buy a home without having to rent first, not only will the home ownership rate benefit, but so will the overall economy.

Realty Solutions Group was built around a simple but elusive concept: provide brokers and clients with the highest level of service in the industry through cutting-edge sales, marketing programs and a culture that values innovation, relationships and a strong local focus.

In less than 5 years, Realty Solutions Group is among the top independent brokerage firms in S/E Wisconsin.

As a locally-owned, independent company, Realty Solutions Group is deeply committed to supporting the communities and clients we serve. We are constantly evolving, but remain focused on that one simple idea behind our founding.

We are a full service brokerage with discounted commissions. We offer no long term listing contracts, a Performance Guarantee, Smart Seller Program and a Communication Guarantee. Contact us today and let us provide you with the very best real estate experience.

 

Some Highlights:

• After the March surge, new home and existing home sales slowed down due to the drop in inventory for start-up and trade-up categories.
• Median existing home prices went up for the 62^nd month straight, up 6.0% over last year to $244,800.
• New home prices slowed down because builders are turning their focus toward single family, smaller homes.

Realty Solutions Group was built around a simple but elusive concept: provide brokers and clients with the highest level of service in the industry through cutting-edge sales, marketing programs and a culture that values innovation, relationships and a strong local focus.

In less than 5 years, Realty Solutions Group is among the top independent brokerage firms in S/E Wisconsin.

As a locally-owned, independent company, Realty Solutions Group is deeply committed to supporting the communities and clients we serve. We are constantly evolving, but remain focused on that one simple idea behind our founding.

We are a full service brokerage with discounted commissions. We offer no long term listing contracts, a Performance Guarantee, Smart Seller Program and a Communication Guarantee. Contact us today and let us provide you with the very best real estate experience.

Mortgage rates for 30- and 15-year fixed loans were steady today, while 5/1 ARMs moved a tad lower, according to a NerdWallet survey of current mortgage rates published by national lenders Friday morning.

With the bond markets shutting down early today and closed Monday for Memorial Day, traders are likely considering picnic spreads rather than yield spreads. It has been a remarkable week, when 30-year fixed mortgage rates have remained absolutely motionless. A few more weeks like this and there will be no need for a graph — a simple straight line will do.

In fact, mortgage rates are so favorable that Freddie Mac has reversed its housing outlook for the year. What was once a slightly pessimistic view is now anything but.

“With home sales, housing starts and home values up, 2017 is shaping up to be the best year for housing in over a decade,” Sean Becketti, Freddie Mac chief economist, wrote in an analysis.

MORTGAGE RATES TODAY, FRIDAY, MAY 26:

(Change from 5/25)
30-year fixed: 4.08% APR (NC)
15-year fixed: 3.45% APR (NC)
5/1 ARM: 3.81% APR (-0.01)

» MORE: How much home can you afford?

Homeowners looking to lower their mortgage rate can shop for refinance lenders here.

NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

More from NerdWallet
How much house can I really afford?
Find a mortgage broker
Refinance calculator

Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: hal@nerdwallet.com. Twitter: @halmbundrick.

The article Mortgage Rates Friday, May 26: Mostly on Hold Ahead of the Holiday originally appeared on NerdWallet.

Realty Solutions Group was built around a simple but elusive concept: provide brokers and clients with the highest level of service in the industry through cutting-edge sales, marketing programs and a culture that values innovation, relationships and a strong local focus.

In less than 5 years, Realty Solutions Group is among the top independent brokerage firms in S/E Wisconsin.

As a locally-owned, independent company, Realty Solutions Group is deeply committed to supporting the communities and clients we serve. We are constantly evolving, but remain focused on that one simple idea behind our founding.

We are a full service brokerage with discounted commissions. We offer no long term listing contracts, a Performance Guarantee, Smart Seller Program and a Communication Guarantee. Contact us today and let us provide you with the very best real estate experience.

Powered by WPeMatico

Going into summer, it’s a good time to re-evaluate how the 2017 real estate market has been doing so far.  Here is what experts are saying:

Doug Duncan, Fannie Mae Chief Economist

“Positive demographic factors should continue to reshape the housing market, as rising employment and incomes appear to be positively influencing millennial homeownership rates.”

Diana Olick, CNBC

“Even as more homes come on the market for this traditionally popular sales season, they’re flying off fast, with bidding wars par for the course. Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are firmly in the driver’s seat.”

Daren Blomquist, Senior VP at Attom

“I am guessing we will see it get even better… If you are considering moving, it could be a really good time to sell.”

Lawrence Yun, NAR Chief Economist

“The early returns so far this spring buying season look very promising as a rising number of households dipped their toes into the market and were successfully able to close on a home last month. Although finding available properties to buy continues to be a strenuous task for many buyers, there was enough of a monthly increase in listings…for sales to muster a strong gain. Sales will go up as long as inventory does.”

Mark Fleming, First American Chief Economist

“Despite higher mortgage rates, the potential for home sales increased on an annual basis driven by steady income and job growth, along with a surge in building permits. While it may be a little late for this spring, the increase in building permits is a welcome sign that some relief may be in sight for the inventory shortages that are holding back many markets from realizing their full potential this spring.”

Realty Solutions Group was built around a simple but elusive concept: provide brokers and clients with the highest level of service in the industry through cutting-edge sales, marketing programs and a culture that values innovation, relationships and a strong local focus.

In less than 5 years, Realty Solutions Group is among the top independent brokerage firms in S/E Wisconsin.

As a locally-owned, independent company, Realty Solutions Group is deeply committed to supporting the communities and clients we serve. We are constantly evolving, but remain focused on that one simple idea behind our founding.

We are a full service brokerage with discounted commissions. We offer no long term listing contracts, a Performance Guarantee, Smart Seller Program and a Communication Guarantee. Contact us today and let us provide you with the very best real estate experience.

Mortgage rates for 30-year fixed loans were unchanged today, while 15-year fixed rates ticked lower and 5/1 ARMs held steady, according to a NerdWallet survey of mortgage interest rates published by national lenders Thursday morning.

Rates on 30-year home loans are hovering a half percentage point lower than their 2017 peak on March 14. After sinking to current levels a week ago, mortgage rates have been content to stay put, clinging near lows not seen since mid-November 2016.

While most analysts expect a Federal Reserve hike in short-term interest rates next month, aspiring home buyers and refinance-worthy owners are enjoying an ample window of low-rate opportunity.

MORTGAGE RATES TODAY, THURSDAY, MAY 25:

(Change from 5/24)
30-year fixed: 4.08% APR (NC)
15-year fixed: 3.45% APR (-0.01)
5/1 ARM: 3.82% APR (NC)

» MORE: How much home can you afford?

Homeowners looking to lower their mortgage rate can shop for refinance lenders here.

NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

More from NerdWallet
Best zero and low down payment lenders
Compare mortgage refinance rates
Find a mortgage broker

Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: hal@nerdwallet.com. Twitter: @halmbundrick.

The article Mortgage Rates Thursday, May 25: Lingering at 2017 Lows originally appeared on NerdWallet.

Realty Solutions Group was built around a simple but elusive concept: provide brokers and clients with the highest level of service in the industry through cutting-edge sales, marketing programs and a culture that values innovation, relationships and a strong local focus.

In less than 5 years, Realty Solutions Group is among the top independent brokerage firms in S/E Wisconsin.

As a locally-owned, independent company, Realty Solutions Group is deeply committed to supporting the communities and clients we serve. We are constantly evolving, but remain focused on that one simple idea behind our founding.

We are a full service brokerage with discounted commissions. We offer no long term listing contracts, a Performance Guarantee, Smart Seller Program and a Communication Guarantee. Contact us today and let us provide you with the very best real estate experience.

Powered by WPeMatico

Mortgage rates for 30-year fixed loans were unchanged, while 15-year fixed rates and 5/1 ARMs moved slightly higher, according to a NerdWallet survey of mortgage rates published by national lenders Wednesday morning.

At least a couple of factors may impact mortgage rates through the end of the week. The Federal Reserve will release the minutes of its last meeting, perhaps giving traders a clue to future monetary policy changes. The Fed is expected to raise short-term interest rates at its next meeting in June, perhaps with one more hike prior to the end of the year. Analysts will be looking for signs of any shift in that strategy.

Another potential catalyst: news from overseas. Britain is bracing for the possibility of further terror attacks after the Manchester concert bombing — that is likely to keep markets on edge. And China’s debt was downgraded by Moody’s, the bond rating firm, on concerns over a weakening financial system and a slowing economy.

If the Fed touts a strong economy, rates might rise. But bad news — at home or abroad — could cause mortgage rates to fall. So far, the bond market seems to be waiting for a sign; all is quiet.

MORTGAGE RATES TODAY, WEDNESDAY, MAY 24:

(Change from 5/23)
30-year fixed: 4.08% APR (NC)
15-year fixed: 3.46% APR (+0.02)
5/1 ARM: 3.82% APR (+0.01)

» MORE: How much home can you afford?

Homeowners looking to lower their mortgage rate can shop for refinance lenders here.

NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

More from NerdWallet
The pros and cons of home equity lines of credit
Best lenders for FHA loans
Calculate your monthly mortgage payment

Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: hal@nerdwallet.com. Twitter: @halmbundrick.

The article Mortgages Rates Wednesday, May 24: Minimally Higher originally appeared on NerdWallet.

Realty Solutions Group was built around a simple but elusive concept: provide brokers and clients with the highest level of service in the industry through cutting-edge sales, marketing programs and a culture that values innovation, relationships and a strong local focus.

In less than 5 years, Realty Solutions Group is among the top independent brokerage firms in S/E Wisconsin.

As a locally-owned, independent company, Realty Solutions Group is deeply committed to supporting the communities and clients we serve. We are constantly evolving, but remain focused on that one simple idea behind our founding.

We are a full service brokerage with discounted commissions. We offer no long term listing contracts, a Performance Guarantee, Smart Seller Program and a Communication Guarantee. Contact us today and let us provide you with the very best real estate experience.

Powered by WPeMatico

Mortgage rates for 30-year fixed loans held steady, 15-year fixed rates slipped a notch, and 5/1 ARM rates were unchanged, according to a NerdWallet survey of mortgage rates published by national lenders Tuesday morning.

Perhaps Wall Street traders decided to get out of town while President Trump travels overseas. Even considering last week’s abrupt one-day equities sell-off, the stock and bond markets have been mostly tame. Volatility, a measure of how much stock prices move higher or lower, remains well below the historical average.

All of which is good news for home buyers. Mortgage rates, still near 2017 lows, aren’t moving much.

MORTGAGE RATES TODAY, TUESDAY, MAY 23:

(Change from 5/22)
30-year fixed: 4.08% APR (NC)
15-year fixed: 3.44% APR (-0.01)
5/1 ARM: 3.81% APR (NC)

» MORE: How much home can you afford?

Homeowners looking to lower their mortgage rate can shop for refinance lenders here.

NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

More from NerdWallet
How much house can I really afford?
Cost of living calculator
Find a real estate agent

Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: hal@nerdwallet.com. Twitter: @halmbundrick.

The article Mortgage Rates Tuesday, May 23: Barely Budging From 2017 Lows originally appeared on NerdWallet.

Realty Solutions Group was built around a simple but elusive concept: provide brokers and clients with the highest level of service in the industry through cutting-edge sales, marketing programs and a culture that values innovation, relationships and a strong local focus.

In less than 5 years, Realty Solutions Group is among the top independent brokerage firms in S/E Wisconsin.

As a locally-owned, independent company, Realty Solutions Group is deeply committed to supporting the communities and clients we serve. We are constantly evolving, but remain focused on that one simple idea behind our founding.

We are a full service brokerage with discounted commissions. We offer no long term listing contracts, a Performance Guarantee, Smart Seller Program and a Communication Guarantee. Contact us today and let us provide you with the very best real estate experience.

Powered by WPeMatico