Mortgage Rates Continue to Trend Up

January 9, 2024 

In the first full week of the new year, the 30-year fixed-rate mortgage remained elevated at just under 7 percent. The continued strength of the economy has put upward pressure on mortgage rates, and along with high home prices, continues to impact housing affordability. The lack of entry-level supply also remains an issue, especially for those looking to become first-time homeowners.🏡 What is an Equity Shift?

Homeowners can leverage the equity in their current home to reduce the amount they need to borrow for a new purchase. By using the appreciation they’ve gained over the years, they can secure a smaller mortgage, even at today’s higher rates, and still move up without a drastic increase in their monthly payments.

Whether you’re looking to buy a home or refinance, now could be the perfect time to lock in your savings and take advantage of the current rates! 💼✨

📞 Call or message me today to discuss your options. I am your One-Stop for Real Estate and Mortgages. My website is https://lnkd.in/gW78baJG

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