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Mortgage Rates | From 'Urb to 'Burb Blog

Tuesday, July 7, 2020   /   by Vanessa Saunders

Yesterday's mortgage rate blog: We forgot to mention something

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
I wrote a blog yesterday about how mortgage loan interest rates set a new all time low record last week. The story we told was about how such attractive financing, paired with the low number of homes for sale in the Hudson Valley and a predicted up-tick in home prices this season should be great news for sellers. We forgot one thing.
Low mortgage rates are also great news for buyers. Even first time buyers. Here's why.
Home prices may be heading for a rise right now, but buyers can offset paying a little extra for a home by the astonishing amount they'll save by financing now.

What many people often forget when they decide to buy is that the price they agree to pay for a house at contract isn't how much they'll actually pay. Leaving aside taxes and other ancillary home ownership expenses, what they actually pay is the amount they'll borrow for the home AND the interest they'll pay on their mortg ...

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  hudson valley real estate, hudson valley property, hudson valley home, buying a home, home investment, 'urb to 'burb, mortgage rates, first time home buyer, financing, mortgage

Monday, July 6, 2020   /   by Vanessa Saunders

Just when you thought it couldn't go lower...

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
It's happened again. Mortgage rates have eased down another few points to hit a new all-time low. According to Freddie Mac's latest figures, released July 3, the average rate for a 30 year fixed rate mortgage came in at 3.07%. The previous low (which Thursday's beat) was 3.13%. Last year at this time, the rate was 3.75%.
Sam Khater, Freddie Mac’s chief economist, said in a statement, “Mortgage rates continue to slowly drift downward with a distinct possibility that the average 30-year fixed-rate mortgage could dip below 3 percent later this year.On the economic front, incoming data suggest the rebound in economic activity has paused in the last couple of weeks with modest declines in consumer spending and a pullback in purchase activity.”
Equally unheard-of, Freddie put the 15-year fixed-rate mortgage average at 2.56 percent, down slightly from last week’s 2.59 percent, beat ...

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  hudson valley real estate, hudson valley property, hudson valley home, home investment, hudson valley home owners, 'urb to 'burb, housing sales inventory, mortgage rates

Tuesday, June 30, 2020   /   by Vanessa Saunders

Changes in mortgage lending add to buyers' challenges.

Last year at this time, mortgages in forbearance programs represented 1% of all mortgages. As of May 10, 2020, more than 4 million borrowers were able to declare financial hardship and delay making payments on their loans for up to a year. Things are a-changin' in the mortgage world. The Covid-19 pandemic and economic shutdown have left the mortgage markets bubbling with volatility, and lenders are changing to meet the new normal.
Is it still possible to get a mortgage? The answer is yes, but some of the rules have changed.
Lenders are asking for higher qualification thresholds.
Expect more hoops to jump through, especially on mortgages that are deemed more "risky" than others - jumbo loans, high-balance conforming loans and investment property loans.
(A conforming loan is a mortgage that is equal to or less than the dollar amount established by the limit set by the Federal Housing Finance Agency ( (FHFA) and meets the funding criteria of Freddie Mac and Fannie Mae.) Buyers will ...

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  hudson valley real estate, hudson valley home, buying a home, hudson valley home owners, 'urb to 'burb, mortgage rates, first time home buyer, mortgage, va loans

Tuesday, May 12, 2020   /   by Vanessa Saunders

Buying a house isn't impossible. It only looks that way.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Social distancing and unessential businesses aside, it is still possible to sell or buy a house in the Hudson Valley. Even though we are restricted in how we go about it, we have transacted real property throughout the pandemic shutdown within the parameters of viral quarantine. You can still buy or sell a house.
The Facts
People are listing their homes for sale every day. Lawrence Yun, chief economist for the National Association of Realtors estimated this spring would see a 10% drop in home sales. Ten percent is a big number nationally. But the Hudson Valley is uniquely positioned to be highly sought after by New York City buyers looking for a way out of the city, either temporarily or permanently.
Besides that, a 10% loss means that 90% of transactions which would have happened without the shutdown will still happen. Why? Because the real estate industry is adapting to the new normal. More agenci ...

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  hudson valley real estate, hudson valley home, buying a home, hudson valley home sellers, 'urb to 'burb, selling your home, housing sales inventory, mortgage rates, first time home buyer, mortgage, bidding war, the economy

Friday, March 6, 2020   /   by Vanessa Saunders

Now's the time to beat down your lender's door.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems.

Interest rates and stock prices have been bouncing all over the place recently, but yesterday was a shocker. 
What’s going on? We're seeing the effects of the Federal Reserve's interest rate-cutting on 10-year Treasury notes this week. The average rate on a 30-year fixed rate mortgage dropped to 3.29% this week, its lowest level... ever.


What’s going on? We're seeing the effects of the Federal Reserve's interest rate-cutting on 10-year Treasury notes this week.

First, keep in mind that 30-year mortgage rates have no free will. They move in lockstep with 10-year U.S. Treasuries. Treasury yields were already at all-time lows because of concerns the Corona Virus would hit future economic growth. (Investors buy Treasuries when they want to play it safe, and yields move inversely to prices.)

In an emergency move this week, the Fed cut interest rates,sending those Treasury yields even ...

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  hudson valley real estate, hudson valley property, buying a home, home investment, 'urb to 'burb, housing sales, selling your home, housing sales inventory, mortgage rates, financing, first time home buyer, lending, fha

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258


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The information appearing herein has not been verified by One Key, Inc or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

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