The FEDERAL RESERVE decided to INCREASE the Federal Funds Rate today. This was the FIRST time they’ve raised the rates since this time last year, and they hinted at 3 possible increases in 2017. As rates rise, homebuyers lose buying power (meaning, the same price home now costs them MORE per month due to higher rates, as well as it can effectively lower the amount they qualify for accordingly, for the same reason). Those days of rates in the 3% ranges for 30YF loans *may* be forever gone. We’ll have to see. Historically speaking, even the current rates are still extremely low when considering mortgage rates were 15%+ in the 1980s!! So it’s still an excellent time to buy, but be aware of what may continue to happen with mortgage rates if you may be looking to buy a home anytime soon!
CURRENT AVERAGE MARKET RATES
4.125% to 4.25% (* APR 4.253% - 4.403%)
3.5% to 3.75% (* APR 3.672% - 3.922%)
4.125% to 4.375% (* APR 4.202%-4.4.477%)
4.25% to 4.375%(* APR 4.612% - 4.787%)
4.5% to 4.75% (* APR 4.575% - 4.875%)
ARMS and other Products available upon Request. Rates good through 12/14/2016.
Equal Housing Lender. @2016 Academy Mortgage License #3113. This is not a commitment to lend, rates are subject to change. Restrictions apply. All terms subject to credit approval, market changes, and availability. All information is believed to be accurate but subject to change without notice. Academy Mortgage Atlanta: 5565 Glenridge Connector, Suite 400, Atlanta, GA. 30342. Georgia Residential Mortgage Licensee. FHA rates good for credit scores 660 and above. Conventional rates good for credit scores 740 and above.
Conventional 30 Year Fixed scenarios assume a $300,000 sales price, 20% down payment, monthly payment of $1513. Conventional 15 Year Fixed scenarios assume a $300,000 sales price, 20% down payment, monthly payment of $2065. FHA 30 Year Fixed scenarios assume a $300,000 sales price, 3.5% down payment, monthly payment of $1986. VA 30 Year Fixed scenarios assume a $300,000 sales price, 0% down payment, monthly payment of $1857. JUMBO 30 Year Fixed scenarios assume a $800,000 sales price, 25% down payment, monthly payment of $3760. Call for details.
This information is provided for the Real Estate Professional & is not an advertisement to extend consumer credit as defined by section 226-2 of Regulation Z. Academy Mortgage Corporation is an Equal Opportunity Lender, contact us for details. Not for use with Consumers.
NMLS ID: 204787
Senior Loan Officer – The Maguire Team
FIVE STAR PROFESSIONALIndustry Award Winner (as seen in “Atlanta Magazine” 8/2013)
Academy Mortgage Customer Service Award Winner
5565 Glenridge Connector, Suite 400, Atlanta, Georgia 30342
Cell: (770) 331-7500
Fax: (404) 835-9663 Branch Main: (404) 574-2600
GA Residential Mortgage License: 28208 | Academy NMLS #3113 | GRMA#20505 | EQUAL HOUSING LENDER
Author:Greg Sanders Phone: 678-953-2688 Dated: December 14th 2016 Views: 2,271 About Greg: Greg Sanders is the CEO of The Sanders Team Real Estate.
Greg has over 15 years experience tech...
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The Sanders Team Real Estate provides boutique-style personalized service to manage every detail of your home sale or purchase - from specialized market knowledge to pricing, marketing, negotiating, and closing. The Sanders Team is one of the top real estate teams in the Atlanta market. The team founders, Greg and Michelle Sanders, combined their technology and real estate experience to create a leading edge, technology savvy, and service based real estate team. The Sanders Team specializes in the Metro-Atlanta Georgia real estate market, including Woodstock, Canton, Roswell, Alpharetta, Milton, Marietta, Atlanta, Cumming, Kennesaw, Acworth, Austell, Ball Ground, Dallas, Duluth, Hiram, Holly Springs, Johns Creek, Mableton, Powder Springs, Sandy Springs, Smyrna, Union City, Waleska, and White.
The FEDERAL RESERVE decided to INCREASE the Federal Funds Rate today.
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