Here is a great blog from guest blogger (Lender from Elevations Credit Union) Rick DeMario:
"The rates were steady and low for a very long time and it seemed like they would never go up. I really don’t need to report on this because it’s old news but they finally went up. As high as 5% in latter part of 2018 which was an all-time high since 2011 Friday the fed announced a hold on increases and the mortgage rates went down to the lowest they have been in 12 months. In fact Friday March 29th I was hearing from my source at Elevations Credit Union that they were in low 4's% on 30 year fixed rate mortgages for qualified buyers. I’m reaching out to my clients I qualified in mid 2018 that have not bought yet to let them know that they are now qualified for more house with this lower rate. So if you were qualified for 500k loan amount in June 2018 at 4.75% and you wanted to buy today at 4% you’d now be able to qualify for a loan of $545,000 by still keeping the same monthly payment. Certainly there is no guarantee that house prices will climb as we’ve seen but if they do, this is an amazing time to buy. Get in at a low rate and hopefully see the appreciation of the property go up steadily year after year. On the flip side if you wait, both mortgage rates and home prices may go up thus increasing the cost of buying a home. I would love for you to be one of my clients and please call/email me today and I can help you get qualified so you can start aggressively looking. Elevations Credit Union – We’re here to help!"
Rick DeMario| Mortgage Loan Officer Elevations Credit Union PRE-QUALIFY NOW 1 Environmental Way, Broomfield, CO 80021 t: 303-443-4672 x1393 | c: 920-450-3180 LMB: 717246 / NMLS: 553346 Click Here to Submit a Mortgage Application for Pre-Approval
