Mortgage rates are falling unexpectedly and sharply, and that means millions more homeowners can now benefit from refinancing their loans.

The average rate on the popular 30-year fixed has fallen from a recent high of 4.23% on May 21 to 3.94% now, according to Mortgage News Daily.

Fear over the ongoing trade war with China, and now potentially Mexico, has investors rushing to the relative safety of the bond market, pushing yields lower. Mortgage rates loosely follow the yield of the 10-year Treasury.
There are now about 5.9 million borrowers who could see their rates drop by at least 75 basis points by refinancing their mortgages. That is an increase of 2 million in just the past month, according to Black Knight, a mortgage software and analytics company.
Key Facts:

-There are now about 5.9 million borrowers who could see their rates drop by at least 75 basis points by refinancing their mortgages. That is an increase of 2 million in just the past month, according ...

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This past year was awesome, and we know 2018 has unlimited potential as well! As you know, the Real Estate market has been booming and 2017 was a strong seller’s market. With interest rates being at an all-time low – it tended to be a win-win for sellers and buyers. Bidding wars had homes selling for thousands over asking and, yet most buyers were able to purchase their dream homes with affordable mortgage payments due to low rates. Heading into 2018, still in a sellers’ market, we should see this continue for awhile even with interest rates slowly rising – this year will still be a smart time to sell.  To paint you a pretty picture – in the Greater Portland area, there are still 6,400+ homes on the market and 45% of them are already sold! That means that practically half of the houses you see with a FOR SALE sign in the yard- will already have a “SOLD” sticker on them. Not to mention, houses are still being purchased for 99% of askin ...