🏡 Election Aftermath: What’s Next for Interest Rates & Housing?

VIDEO UPDATE:

Election Aftermath: What’s Next for Interest Rates?

TODAY’S RATES & HOUSING NEWS

The election is over and we now
must digest what this means for
Mortgage Interest Rates moving
forward.

On Wednesday morning, it looked
like we could see rates soar
higher as stocks went up.
When stocks go up, it usually
has a negative effect on
interest rates.

While interest rates went up
some on Wednesday, since then
interest rates have moved down.

Over the past 7 days, mortgage
interest rates improved about
.15%, with the Mortgage Backed
Security (MBS) Market trading up
+79 bps. The 10 Year US
Treasury currently sits at 4.33%.

Outside of the election, we also
saw the FED lower the Federal
Funds Rate 25 bps. The FED
is now playing a balancing act
as it wants to continue a monetary
policy that will get inflation to
2%, while also supporting a softening
labor market.

FED futures are currently predicting
a 70% chance that the FED lowers
the Federal Funds Rate 25 bps at
their final meeting of the year in
December 2024.

Below are Mortgage News Daily’s
average interest rates across the
country. There are a lot of characteristics
that go into a mortgage rate – credit
score, investor, loan to value, loan
amount, costs, etc.

Please call me to go over your
specific scenario so we can
price your loan out accurately.

OR reply to this email with the answers
to the questions below for Mortgage
Options for your scenario.

REFINANCE QUOTE:

Goal of Refinance – Lower Payment, Cash Out, Etc:
Address of Home:
Estimated Value Of Home:
Current Loan Amount:
Loan Amount You Would Like to Finance:
Current Rate:
Do you know what type of Loan you are Currently in – FHA, VA, etc:
Estimated Credit Score:
Are You a Veteran or Active Member of the US Military:
If you are a Veteran, do you get VA Disability:

HOME PURCHASE QUOTE:

What City and State Are You Looking to Buy In:
Estimated Purchase Price:
Loan Amount You Would Like to Finance:
Will Property be a Primary Residence, Investment Property, or Vacation Home:
Estimated Credit Score:
Are You a Veteran or Active Member of the US Military:
If you are a Veteran, do you get VA Disability:

Thank you!

NOVEMBER REAL ESTATE REPORT

Here is the audio of Keeping
Current Matters November 2024’s
Market Report:

https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/assets/audio/20241107/MMR-November-2024.mp3

The expectation is for mortgage rates
to stabilize after the election.

And for interest rates to go
down in 2025.

More housing inventory has been coming
on the market which is stabilizing pricing
while giving the homebuyer more options.

Many consumers believe that the housing
market could crash after great appreciation
over the past 4 years. The reason KCM
doesn’t expect that to happen is because
builders have underbuilt over the past 15
years, not keeping pace with family creation.

Even with inventory going up, there
is still not enough homes in the U.S. for
families that want to purchase a home.