The average 30yr fixed rate mortgage surged to 5% today to the highest levels since November 2018! Mortgage rates have now skyrocketed 1% in the last ~3 weeks! In today’s housing market update, I share some possible ramifications of this surge in interest rates and what would need to happen for a housing market crash.
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To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 4.95% for the current mortgage rates (at the time of filming this video). This is mixed news if you’re a homebuyer right now or if you’re a homeowner looking to refinance.
Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?
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Jason Walter, CPA (lic 103885)
Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
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Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. T.fore, the .rmation in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please . a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the .rmation in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any .rmation contained in this video – it is for entertainment purposes only.
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#interestrates #housingmarket #mortgagerates
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