Don’t Know Your Mortgage Rate? You Could Be Costing Yourself Thousands

(TNS)—Not knowing your mortgage rate can be an expensive mistake, especially in this rising interest rate market. Yet nearly three in 10 mortgage holders (29 percent) either didn’t know their mortgage rate or wouldn’t say, according to a survey by Bankrate. This is a big problem, says Martin Choy, operations manager at Westwood Mortgage in […]

The post Don’t Know Your Mortgage Rate? You Could Be Costing Yourself Thousands appeared first on RISMedia.

How do interest rate increases really impact real estate decisions?

As this month brought word that the Federal Reserve had lifted the benchmark federal funds rate by a quarter of a percent, the doom-and-gloom scenarios began spinning in real estate offices across the country. If the real estate industry has benefitted from record low interest rates, then rising rates will depress the industry, right? Well, the answer might not be so simple.

Fed: Rates Increased for Second Time This Year

As predicted by all officials, the Fed raised rates for the second time in 2018—from 1.75 percent to 2 percent. The remainder of 2018 and 2019 may see more gradual hikes, with analysts predicting two more increases by year’s end in order to curb future inflation concerns following reports of a strong labor market and […]

The post Fed: Rates Increased for Second Time This Year appeared first on RISMedia.

The Fed raised interest rates 0.25%, the second hike this year

The Federal Reserve increased its short-term interest rate from 1.75 percent to 2 percent Wednesday, the second rate hike to take place this year. In a press release, the central bank said the rise is due to a robust labor market and solid economic act…

Economy Expands in May—Where Does Housing Stand?

The economy in May remained on a soaring streak, with a lift in jobs and the lowest unemployment in years. The expansion is a help for the housing market, but is it enough to relieve supply woes? According to Lawrence Yun, chief economist of the National Association of REALTORS® (NAR), there is an imbalance between […]

The post Economy Expands in May—Where Does Housing Stand? appeared first on RISMedia.

Economy at Milestone Unemployment

April brought the economy 164,000 jobs, and 3.9 percent unemployment—below 4 percent, and the lowest rate in roughly 20 years. Though the additional jobs were less than predicted, the figure is promising, analysts say. “The U.S. labor market continues to tighten, although job growth in April was 164,000—a little below expectations,” said Gad Levanon, chief […]

The post Economy at Milestone Unemployment appeared first on RISMedia.

Economic Forecast: Expectations High, but Less Long-Term Optimism

The latest Urban Land Institute (ULI) Real Estate Economic Forecast predicts modest fluctuations across the board for 27 economic/real estate indicators. The three-year forecast is completed semi-annually, surveying over 48 economists and analysts at 36 real estate organizations. A leading concern? Rising interest rates. ULI forecasts interest rates to be 0.4 percent higher in 2018 […]

The post Economic Forecast: Expectations High, but Less Long-Term Optimism appeared first on RISMedia.

Millennials Prep for Price, Rate Rises

Mortgage rates are rising—and millennials are noticing. Ninety-two percent of home-buying millennials in a realtor.com® survey believe higher interest rates will have an impact on their purchase, including a change in desired location, price range and/or square footage. Other generations are not feeling the impact as significantly. Why? Millennials carry debt and have down payments […]

The post Millennials Prep for Price, Rate Rises appeared first on RISMedia.

5 Things a Federal Reserve Interest Rate Hike Means for Your Wallet

(TNS)—Consumers tend to pay far more attention to the swings in their March Madness brackets than the latest moves by the Federal Reserve. The reality is the Fed’s action will have a more lasting impact on your wallet. The Fed moved to raise rates by 25 basis points, as expected. The Fed’s benchmark interest rate […]

The post 5 Things a Federal Reserve Interest Rate Hike Means for Your Wallet appeared first on RISMedia.

Mortgage Rates Stay Still

The average 30-year, fixed mortgage rate stayed still this week, inching up to 4.45 percent from 4.44 percent the week prior, according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®). The average 30-year, fixed rate has been rapidly rising since the start of the year. On Wednesday, the Federal Reserve increased its interest rate, denoting […]

The post Mortgage Rates Stay Still appeared first on RISMedia.