The Sound of Mortgage Rates |
November 8, 2023 |
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Hi, Home Buyer.
Make TWO newsletter referrals and you'll get our exclusive real-time alerts for free. Send your friends this unique link to subscribe and start getting credit today.
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Today's email is a little different.
Maybe it's because we're getting one last gasp of warm weather in Ohio, or maybe it's relief at watching mortgage rates drop back into the sevens.
Whatever the reason: I think you'll enjoy this video.
It's a 2-minute, 26-second song with a melody that follows the path of 30-year fixed-rate mortgage rates from the last 12 years.
The mortgage rate song has some very low notes.
Give it a listen and let us know what you think. It's not the best song you've heard, but it's infectious - and also fun to watch.
Happy Homebuying!
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Dan Green NMLS #423065 See today's mortgage rates here
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HOMEBUYER.COM STATISTIC OF THE DAY Source: Freddie Mac
30-Year Fixed-Rate Mortgage Rate Statistics (2012-2023)
Average mortgage rate: 4.115%
Average weekly movement: 0.062 percentage points
Percentage of Weeks With Increase: 45.13%
Percentage of Weeks With Decrease: 48.05%
Highest Rate: 7.76 (November 2, 2022)
Lowest Rate: 2.65% (January 7, 2021)
Data represents purchase mortgage transactions for residential, owner-occupied 1-4 unit properties.
See 138 Generational Home Buyer Statistics Here.
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MORTGAGE RATE
CALENDAR Upcoming events that may change the direction of mortgage rates
November 9, 2023: Jobless Claims
November 15, 2023: Retail Sales
November 16, 2023: Homebuilder Confidence
November 17, 2023: Housing Starts
November 17, 2023: Building Permits
Subscribe to our YouTube channel for additional insight.
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FIRST-TIME HOME BUYER PROGRAMS Status of select
first-time home buyer bills in Congress The Downpayment Toward Equity Act A cash grant up to $25,000 for first-time, first-generation home buyers. - Last Action in Congress: June 21, 2023 - Status: Not yet passed - Alternative Mortgages: Conventional 100, 100% USDA
The DASH Act A $15,000 first-time home buyer tax credit. - Last Action in Congress: March 7, 2023 - Status: Not yet passed - Alternative Mortgages: HomeReady, HomePossible
The HELPER Act A 100% mortgage for teachers & first responders. - Last Action in Congress: May 10, 2023 - Status: Not yet passed - Alternative Mortgages: Conventional 100, VA Mortgage
The LIFT Act A mortgage that builds home equity faster. - Last Action in Congress: June 22, 2023 - Status: Not yet passed - Alternative Mortgages: None
The Middle Class Mortgage Insurance Premium Act
A bill to make mortgage insurance tax deductions permanent for homeowners earning less than $100,000/$200,000.
- Last Action in Congress: June 13, 2023 - Status: Not yet passed
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