In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
The average weekly mortgage rate for a 30-year fixed has jumped to 5.55% as of August 25, compared to just 3.22% at the start of the year.
The average cost of a 15-year, fixed-rate mortgage has also surged—up to 4.85% as of late August, compared to 2.43% in early January.
- Mortgage Bankers Association (MBA): “Given the weaker outlook for growth, we continue to estimate a 50% likelihood of a mild recession over the next 12 months. If this materializes with a recession in the first half of 2023, the employment rate is expected to reach 5.5% by the end of 2023 and mortgage rates would fall around 30 basis points from the baseline forecast level [of 5.2%].”
