Mortgage rates decreased .19% over the course of the week and are now .81% lower than they were at the beginning of the year.
Thanks to historically low rates, purchase mortgage activity continues to ramp up in an inventory-starved housing market. All signs point to mortgage demand remaining stronger than the previous year. Per the Freddie Mac Primary Mortgage Market Survey, “… mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down. Given these strong indicators in rates and sales, as well as recent increases in new construction, it’s
Many Denver Home Buyers have called us this week wondering if the rise in interest rates is the first step in a disastrous free-fall in Denver housing prices. While we don't pretend to know where Colorado housing prices will go, we thought it would be interesting to see where interest rates around Denver have been in the past. Here is a list of the average Denver interest rate for a 30-year fixed rate mortgage over the past 45 years, in 5-year increments. Also shown is the amount of points it cost to get that rate. One point is 1% of the loan amount.and you pay that in closing costs. In short the rise in interest rates will not effect the Denver Real Estate Market in any drastic way, the main effect it that many…
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Listing information last updated on July 13th, 2020 at 11:33am MDT.