Don’t let mortgage misconceptions hold you back from homeownership or real estate investing!  The mortgage process can sometimes feel like one of the most intimidating aspects of buying a home.  When we talk to clients, we sometimes find that they’re letting misconceptions about borrowing keep them out of the real estate market.  We’d like to share with you some recent developments you might want to consider if you’re thinking of purchasing a home or diversifying your investment portfolio into real estate. Mortgage interest rates are trending higher.  The average 30-year fixed mortgage rate on home loans is currently around 4.5%, but that rate is projected to approach 5.0% by the end of the year.  Although 5.0% is higher than what we’ve seen the past few years, it’s still historically low.  Mortgage interest rates are influenced by yields on the 10-year Treasury, the benchmark that helps determine other interest rates.  As investors move more money in the 10-year Treasury, the yield decreases, and 30-year fixed rates go lower.  Conversely, as money is pulled out of the bond market and put into other investments, the yield increases, and 30-year fixed rates track higher.  The 10-year Treasury yield is expected to gradually move […]
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