The Real Estate Insider August 2014

Volume 1, Issue 8 August 2014 THE REAL ESTATE Insider A Publication of Coldwell Banker Holman Premier Realty WHERE ARE MORTGAGE INTEREST RATES HEADED? “One thing seems certain: we aren’t likely to see average 30-year fixed mortgage rates return to the historic lows experienced in 2012.” - Freddie Mac, March 24, 2014 There are those that hope that 30year mortgage interest rates will head back under 4%. Obviously, for any prospective home purchaser that would be great news. However, there is probably a greater chance that interest rates will return to the greater than 6% rate of the last decade before they would return to the less than 3.5% rate of 2012. Freddie Mac, on their blog, explained that current rates are still extremely low compared to historic averages. “The all-time record low – since Freddie Mac began tracking mortgage rates in 1971 – was 3.31% in November 2012. Conversely, the alltime record high occurred in October of 1981, hitting 18.63%. That’s more than four times higher than today’s average 30-year fixed rate of 4.32% as of March 20...rates hovering around 4.5% may be high relative to last year, but something to celebrate compared to almost any year since 1971.” rates will increase going forward. If you are thinking of purchasing a home, waiting for a dramatic decrease in mortgage rates might not make sense. And Freddie Mac projects mortgage INSIDE THE INSIDER P2 4 Demands To Make On Your Real Estate Agent P3 How Much of a Down Payment Do You Actually Need? Podcast of the Month DIY Video Tip of the Month P4 Foreclosure Inventory Down 37% Over the Last Year Coldwell Banker Holman Premier Realty 3815 S. 6th Street, Suite 110 Klamath Falls, OR 97603 Phone [phone] Fax [phone] Toll Free 800.347.1343 [email protected] cbholmanpremier.com Each office independently owned and operated. Bill Haskins, Principal Broker / President. ©2013.