Today I’m joined once again by Bob Reader, a veteran of the mortgage industry, to talk about the present and future of interest rates in our real estate market.
There are plenty of misconceptions out there regarding this topic that we’ll clarify. Current rates are so low that they’re not sustainable for the banking industry, and we’re seeing this reflected in the financial markets. The bond market is increasing in value, which, in turn, will push interest rates up soon.
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch it in its entirety, or use these timestamps to browse specific points at your leisure:
0:35—A little background on Bob
1:13—Comparing mortgage rates from 1990 to now
2:14—The statuses of fixed rates and variable rates
5:03—Are cash-back mortgages a good idea?
6:57—How hard is it to get a mortgage?
8:43—Why you need to get in touch with a seasoned mortgage professional before shopping for properties
9:23—Wrapping things up
If you have questions about this topic or are thinking of buying or selling a home, feel free to call or email me. I’d love to help you.