Lately, the news of interest rate cuts has taken over the headlines and everyone's social media feed. Are you feeling the itch to take action? Here’s the deal: Today’s loan interest rates are as follows:
30-year fixed rate (income verified): 5.25%+
30-year fixed rate (no income verification): 6.25%
Feeling like it’s time to slim down your loan too?
In today’s article, we’ll cover:
Interest Rate Cuts & Mortgage Forecast
How much have rates dropped?
Will they continue to decrease?
Will this affect housing prices?
Recent Real-Life Case Studies
What interest rates are buyers getting right now?
What rates are available through refinancing?
Starting a New Chapter in Cooperation
New Trends · Video Collaboration
Get a virtual house tour + loan explanation
01 | The Wave of Interest Rate Cuts is Here
Recently, the U.S. housing market has been full of buzz, but the most exciting news is undoubtedly the drop in 30-year mortgage rates. According to the latest data from Freddie Mac, rates have decreased by 60 basis points since early July. In fact, last week, the 30-year mortgage rate in the U.S. hit its lowest point in 16 months!
Nancy Vanden Houten, Chief U.S. Economist at Oxford Economics, predicts that the Federal Reserve will begin its first interest rate cut in September, with an expected reduction of 25 basis points each time. This means that loan rates will continue to drop, and the cost of buying a home will decrease even further! Feeling a bit tempted yet?
U.S. Home Prices Expected to Increase Moderately After Rate Cuts
The Federal Reserve’s interest rate cuts are expected to cause a moderate increase in U.S. home prices. According to a Reuters survey, U.S. home prices are projected to rise by 5.4% in 2024.
But the good news is that as the Fed plans to continue cutting rates, it's expected that by the end of the year, there will be an additional 75 basis point reduction, meaning mortgage rates could drop even further.
The Reuters survey also shows that first-time homebuyers will have more opportunities to enter the market in the coming year. Now, let’s take a look at some of the recent rates we’ve secured for our clients!
02 | Recent Successful Cases
· California Owner-Occupied Property with Income-Verified Loan ·
(Can be done in all 50 states—strong track record!)
1-month quick closing, 20% down payment, interest rate at 5.625%!
· Flushing Three-Family Investment Property, No-Income-Verified Equity Loan! ·
DSCR program, based solely on rental income
No need for income verification or employment proof!
Loan for 65% of the property’s equity, 30-year fixed rate at 7.375%!
(You can get up to 75%-80%~)
The homeowner can now leverage the property to buy more and grow their wealth!
· Virginia Apartment, No-Income-Verified Equity Loan ·
Closed in three weeks—thanks to the client’s cooperation!
DSCR program, based solely on rental income~
No need for income verification or employment proof!
Loan for 80% of the property’s equity, 30-year fixed rate at 7.875%!
(Closed last month, and the rates have recently dropped again xD)
Feeling tempted? Time to act!
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