Mortgage Interest Rates are AWESOME

mortgage interest ratesIn terms of standard conventional 30-yr fixed mortgage rates, the BEST we’ve ever seen was for just a few days in 2012, when the best clients could get 3.125% – 3.25%.

Mortgage interest rates dipped back to 3.25% for a brief time back in July 2016, but since then have been hovering in the 3.375% to 3.50% range.

So what does all this mean for home owners?

It means if YOU ACT NOW, congratulations, because other than one week this past July, and one week back in 2012, you are getting the most awesome interest rates of all time right now TODAY!


I provide Home Mortgage Loans in MN, WI, IA, ND, SD and I can be reached at (651) 552-3681.

Of course rates effective at this time of this post and subject to change.  Not everyone qualifies, etc. Not an offer to enter into an interest rate lock agreement

Three Great Reasons to Buy A House Today

real1Thinking about buying a new home, but maybe still sitting on the fence? Here are three great reasons to buy a home today:

1. Home Prices Rising:  The Minneapolis, St Paul market, home prices have risen 15.1% in the last 12 months. The bottom of the market has come and gone. But there is a lot of room for upward movement. If prices continue to rise, and you buy now, your equity will begin to build as soon as you close.

2. Builders Are Building Again: Land costs more, materials cost more, labor costs more. This means new home prices are going up, too. Buying today may be your best option because the cost of new constructions isn’t likely to decrease.

3. Mortgage Interest Rates Still Historically Low: Interest rates are up from a few months ago, but still in the mid 4% range (as of today). This is still considered fantastically low. Mortgage interest rates are projected to be in the mid 5% range next summer, so buying today and locking in a super low rate is a smart move.

Mortgage Interest Rate Prediction for 2012

ST PAUL, MN: As the new year begins, there are no shortage of so called “experts” telling us what to expect for mortgage interest rates in 2012.  Mortgage interest rates closed out 2011 at some of the the lowest rates of all time. Some expect those interest rate trends to continue through the first quarter and beyond. Others expect a rapid increase in mortgage rates.

Who’s right and who’s wrong? A quick look through the newspapers, websites and business television programs reveals “experts” with opposing, well-delivered views. It’s tough to know who to believe.

For example, here are some predictions for 2012 :

  • Home prices will rise in 2012 (Freddie Mac)
  • Home prices will fall in 2012 (CBS News)
  • Mortgage rates will rise in 2012 (American Banker)
  • Mortgage rates will fall in 2012 (LA Times)

The issue for buyers, seller, and those wishing to refinance their existing mortgage loans in Minnesota and nationwide is that for many people, it can be a challenge to separate a prediction from fact.

When an argument is made on the pages of a respected newspaper or website, or is presented on some financial cable show by a well-dressed, well-spoken talking head, we’re inclined to believe what we read and hear. This is human nature. However, we must force ourselves to remember that any analysis about the future — whether it’s housing-related, mortgage-related, or something else — are based on a combination of past events and personal opinion.

Remember, predictions are simply guesses about what might come next, nothing more.

I am constantly amazed to hear politians, reporters, and other “so called experts” who have never written a mortgage loan ever in their life tell me how things work in the mortgage business. More annoying yet, is that are a lot these are the same people who makes the laws!

DON’T HOLD OFF buying a new home or refinancing your existing home because some “expert” says interest rates may drop sometime in the future. Mortgage interest rates are CURRENTLY at all time historic lows. Forget the experts! Jump in today, take the deal, and smile!