In economic news, the FEDERAL RESERVE did decide to raise the benchmark “Federal Funds Rate” at the conclusion of their long-anticipated December meeting last week. Most of the entire market was expecting this……….even despite it being the first time the FED has raised this rate since 2006. So in reality, it was a rather unprecedented move given they haven’t previously "DARED" to do so in the last 9 years. Interestingly, overall mortgage rates really have not changed much since the Fed announcement. So it just goes to show, you can never predict what the market will do. At the same time, this is also because of the fact that the Federal Funds Rate that the FED controls is not DIRECTLY tied to most long-term mortgages. There’s absolutely a tie/correlation, but it’s just not a direct 1-for-1 relation. The Fed Funds Rate is actually more tied to “ARM” loans and definitely to Home Equity loans. So I think the market’s long anticipation and expectation of this FED move kept markets from overreacting to the news too much. This isn’t to say rates still couldn’t take a quick spike upward at any time. And it’s still pretty much a given that mortgage rates in the long-term will at some point definitely rise more since the government will eventually stop its reinvesting/purchasing of Mortgage-Backed Securities (which they only did to stabilize the economy back during the market collapse of 2008-9 and has been 'falsely' keeping mortgage rates low ever since) and turn back over the liquidity of the mortgage markets to all the commercial banks.
NMLS ID: 204787
Senior Loan Officer – The Maguire Team
FIVE STAR PROFESSIONAL Industry Award Winner (as seen in “Atlanta Magazine” 8/2013)
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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.
Mortgage rates have really shot upward pretty quickly/sharply since t
"I offer the unique perspective of working extensively with The Sanders Team as a Lending partner for their clients. I can tell you with all sincerity........Michelle, Greg, Tess, and the whole team are just amazing. Since I work with them behind the scenes on their transactions, I have the "inside scoop" and can tell any prospective client that they are TRULY the utmost Professionals. Their experience, knowledge, work ethic, and care/dedication to their clients IS the reality and I know this first-hand from the side that Buyers/Sellers don't typically see, as opposed to some Realtors who may show good "salesmanship" in person, but don't truly prove it with how they operate behind the scenes. The Team has their processes down and does not miss any details, and nothing slips through the cracks. Most importantly to me, they have a great understanding of the needs/requirements on the financing side as well. As we all know, the vast majority of all homebuyers don't have 100% cash and need a mortgage to buy their home, and obviously NO transactions would ever close without a successful mortgage process. Thus, it's crucial - - as a lender - - to work with Realtors that are equally responsive and dedicated to providing all needs for the mortgage side of the process so that the transaction can be a success, and this is also something The Sanders Team is excellent about. It makes our job as lenders so much easier, which means the financing side of the process also goes all-the-smoother for their clients. Aside from everything above, everyone on the team is extremely personable, easy to get along with, trustworthy, and family-oriented. So I HIGHLY endorse the Team for any needs at all, whether you are a Buyer, Seller, or BOTH!"