Mortgage Rates Surge
October 10, 2024
Following the release of a stronger-than-expected September jobs report, the 30-year fixed rate mortgage saw the largest one-week increase since April. However, the rise in rates is largely due to shifts in expectations and not the underlying economy, which has been strong for most of the year. Although higher rates make affordability more challenging, it shows the economic strength that should continue to support the recovery of the housing market.

🏡 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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