Mortgage rates have risen to levels we haven't seen in years...๐ช๐ต๐ฎ๐ ๐ต๐ฎ๐ฝ๐ฝ๐ฒ๐ป๐ฒ๐ฑ?Rates have been pushed higher by recent economic data, like last week's inflation report, that is showing the economy isn't cooling off yet despite the Fed raising policy rates since March. Markets are now preparing for the Fed to raise rates even higher through the end of the year and into 2023, in order to quash inflation. Mortgage rates have already started to move higher the last few weeks on the expectations.๐ฆ๐ผ, ๐ต๐ผ๐ ๐ต๐ถ๐ด๐ต ๐๐ถ๐น๐น ๐ฟ๐ฎ๐๐ฒ๐ ๐ด๐ผ ๐ฎ๐ป๐ฑ ๐๐ถ๐น๐น ๐๐ต๐ฒ๐ ๐ฐ๐ผ๐บ๐ฒ ๐ฏ๐ฎ๐ฐ๐ธ ๐ฑ๐ผ๐๐ป ๐๐ผ๐ผ๐ป?As you can tell from the headlines about stocks, markets are volatile right now. Although it is possible rates could improve, the current forecast is that rates are going to move even higher. We will eventually see rates come down again, but that is only likely when the economy slows down and we could see a recession.๐๐ ๐๐ต๐ฒ๐ฟ๐ฒ ๐ฎ ๐๐ถ๐น๐๐ฒ๐ฟ ๐น๐ถ๐ป๐ถ๐ป๐ด ๐๐ผ ๐๐ต๐ฒ๐๐ฒ ๐ต๐ถ๐ด๐ต๐ฒ๐ฟ ๐ฟ๐ฎ๐๐ฒ๐?Higher rates are no fun - period. Paying more each month for a home than you thought you would pay is a downer.HOWEVER...Higher rates are opening the door to more homes, and it is helping restore balance to the housing market. You can now find homes to purchase that aren't in a bidding frenzy, and borrowers getting a mortgage are not finding as much competition from cash buyers. Less demand means you have a better shot of landing your dream home!I have some ideas on how to help make your payments more affordable while rates are higher. Contact me today and I'll tell you why now is still a great time to buy a home, and how I can help!#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance ... See MoreSee Less
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Norcom Mortgage is excited to announce that we are now offering conforming loans up to $715,000 (up from the previous $647,200) in anticipation of FHFAโs official announcement of an increase in its conforming loan limits. Want to know all the details? Reach out to learn more! Audra Santos 203-526-9345 or audra@mycupartner.com ... See MoreSee Less
Reach out today to learn more! ... See MoreSee Less
๐ก ๐๐ผ๐ฟ ๐๐ต๐ฒ ๐๐ฒ๐ฒ๐ธ ๐ผ๐ณ ๐ฆ๐ฒ๐ฝ๐๐ฒ๐บ๐ฏ๐ฒ๐ฟ ๐ญ๐ต, ๐ฎ๐ฌ๐ฎ๐ฎ๐ฅ๐ฒ๐ฐ๐ฎ๐ฝ ๐ผ๐ณ ๐น๐ฎ๐๐ ๐๐ฒ๐ฒ๐ธ: ๐ฅ๐ฎ๐๐ฒ๐ ๐ด๐ผ๐ ๐๐ผ๐ฟ๐๐ฒ ๐ Average mortgage rates got worse last week after consumer inflation data didn't show inflation was going down as fast as markets were speculating. The higher inflation data led markets to price in larger expected Fed rate hikes this month and at future meetings, pushing mortgage rates near the highest levels seen in years.๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฅ๐ฎ๐๐ฒ ๐๐ผ๐ฟ๐ฒ๐ฐ๐ฎ๐๐: ๐ฅ๐ฎ๐๐ฒ๐ ๐ฐ๐ผ๐๐น๐ฑ ๐ถ๐บ๐ฝ๐ฟ๐ผ๐๐ฒ ๐ The Fed meeting this week is our best shot at seeing mortgage rates improve, although how much rates will go down is still anyone's guess. Rates have moved higher because the economy is not slowing down as much as expected, despite the Fed raising rates since March. Speculation of higher Fed rate hikes heading into 2023 will continue to keep rates at elevated levels.๐๏ธ ๐ช๐ต๐ฎ๐'๐ ๐ฎ๐ณ๐ณ๐ฒ๐ฐ๐๐ถ๐ป๐ด ๐ฟ๐ฎ๐๐ฒ๐ ๐๐ต๐ถ๐ ๐๐ฒ๐ฒ๐ธ:- The Fed: The Fed meeting this week will conclude on Wednesday with a Fed policy statement that will include a rate hike, currently expected to be .75% by most but may be a full point by some forecasts. Mortgage rates have already priced in the increase and will not move higher on the Fed rate hike, but instead are likely to improve at least slightly. We will also see the Fed's rate forecast heading into 2023, and Fed Chair Powell's press conference.#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance ... See MoreSee Less
๐ ๐๐ ๐ฎ ๐น๐ผ๐ฐ๐ฎ๐น ๐บ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฝ๐ฟ๐ผ๐ณ๐ฒ๐๐๐ถ๐ผ๐ป๐ฎ๐น, ๐บ๐ ๐ฟ๐ฒ๐ฝ๐๐๐ฎ๐๐ถ๐ผ๐ป ๐ฑ๐ฒ๐ฝ๐ฒ๐ป๐ฑ๐ ๐ผ๐ป ๐ฝ๐ฟ๐ผ๐๐ถ๐ฑ๐ถ๐ป๐ด ๐ฎ ๐ฏ๐ฒ๐๐๐ฒ๐ฟ ๐ฒ๐ ๐ฝ๐ฒ๐ฟ๐ถ๐ฒ๐ป๐ฐ๐ฒ ๐๐ต๐ฎ๐ป ๐๐ต๐ผ๐๐ฒ ๐ฏ๐ถ๐ด ๐ฏ๐ฎ๐ป๐ธ๐ ๐ฎ๐ป๐ฑ ๐ผ๐ป๐น๐ถ๐ป๐ฒ ๐น๐ฒ๐ป๐ฑ๐ฒ๐ฟ๐.Getting a mortgage doesn't have to be frustrating and confusing. ๐ If you have the right person guiding you through the process, it can be easy and more convenient! ๐๐๐ณ ๐๐ผ๐'๐ฟ๐ฒ ๐๐ต๐ถ๐ป๐ธ๐ถ๐ป๐ด ๐ฎ๐ฏ๐ผ๐๐ ๐ฏ๐๐๐ถ๐ป๐ด ๐ฎ ๐ต๐ผ๐บ๐ฒ, ๐ผ๐ฟ ๐ฟ๐ฒ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ป๐ด ๐๐ต๐ฒ ๐ต๐ผ๐บ๐ฒ ๐๐ผ๐ ๐ฎ๐น๐ฟ๐ฒ๐ฎ๐ฑ๐ ๐ผ๐๐ป, ๐น๐ฒ๐ ๐บ๐ฒ ๐ฏ๐ฒ ๐๐ผ๐๐ฟ ๐ด๐๐ถ๐ฑ๐ฒ.There's never any obligation or fees when we talk. I can help you get a great low rate, find out how much home you can comfortably afford, and also help you get pre qualified or pre approved (ask me about the difference!).I hope to hear from you soon!#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance ... See MoreSee Less
One of our favorite realtors brought her babies, Charlie and Chloe, to visit us at our Monroe branch. It only took 3 takes for them to cooperate for our picture ๐คฃ We love having our realtor partners stop by for a visit! We adore you and your babies Kimberly Braun Levinson, Realtor ... See MoreSee Less
Is It Time To Move On From Renting? ... See MoreSee Less
Should You Move On From Renting?
www.mycupartner.com
Audra Santos, our VP, Branch Manager, spent some time with her PTO family this weekend supporting her children's school. Norcom loves supporting our local community ๐ ... See MoreSee Less
๐ก ๐๐ผ๐ฟ ๐๐ต๐ฒ ๐๐ฒ๐ฒ๐ธ ๐ผ๐ณ ๐ฆ๐ฒ๐ฝ๐๐ฒ๐บ๐ฏ๐ฒ๐ฟ ๐ญ๐ฎ, ๐ฎ๐ฌ๐ฎ๐ฎ๐ฅ๐ฒ๐ฐ๐ฎ๐ฝ ๐ผ๐ณ ๐น๐ฎ๐๐ ๐๐ฒ๐ฒ๐ธ: ๐ฅ๐ฎ๐๐ฒ๐ ๐ถ๐บ๐ฝ๐ฟ๐ผ๐๐ฒ๐ฑ ๐๐น๐ถ๐ด๐ต๐๐น๐ ๐ Last week rates moved almost exactly as we forecasted they would. Average mortgage rates moved higher on Tuesday after the long holiday weekend, matching recent highs, but quickly improved to end the week slightly better as markets adjusted to the idea that the Fed will continue to be aggressive in fighting inflation.๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฅ๐ฎ๐๐ฒ ๐๐ผ๐ฟ๐ฒ๐ฐ๐ฎ๐๐: ๐๐ผ๐ผ๐ธ๐ถ๐ป๐ด ๐ณ๐ผ๐ฟ ๐ฟ๐ฎ๐๐ฒ๐ ๐๐ผ ๐ถ๐บ๐ฝ๐ฟ๐ผ๐๐ฒ ๐ Mortgage rates this week are in a position to move lower, but whether they do or not will depend on the inflation data that comes in this week. Tuesday's consumer inflation report is expected to show that inflation has slowed in August after falling slightly in July. If the report comes in as expected, it is likely to help mortgage rates to move at least slightly lower.๐๏ธ ๐ช๐ต๐ฎ๐'๐ ๐ฎ๐ณ๐ณ๐ฒ๐ฐ๐๐ถ๐ป๐ด ๐ฟ๐ฎ๐๐ฒ๐ ๐๐ต๐ถ๐ ๐๐ฒ๐ฒ๐ธ:- Inflation data: Tuesday we get the consumer inflation data, and Wednesday we get wholesale inflation data. Signs of easing inflation would help rates improve, but any surprises showing inflation isn't slowing would pressure rates to move higher.- Europe's economy: Concerns about surging energy costs overseas and the implications on global inflation could be bad for rates here in the U.S.#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance ... See MoreSee Less
A great work event last night at Sinclairโs in Fairfield, CT. Itโs great to brainstorm with other mortgage professionals in our industry. ... See MoreSee Less
Valerie DaCosta
Trying to tag myself ๐ will share on my page for now!
English
Spanish
Mortgage rates have risen to levels we haven't seen in years...
๐ช๐ต๐ฎ๐ ๐ต๐ฎ๐ฝ๐ฝ๐ฒ๐ป๐ฒ๐ฑ?
Rates have been pushed higher by recent economic data, like last week's inflation report, that is showing the economy isn't cooling off yet despite the Fed raising policy rates since March. Markets are now preparing for the Fed to raise rates even higher through the end of the year and into 2023, in order to quash inflation. Mortgage rates have already started to move higher the last few weeks on the expectations.
๐ฆ๐ผ, ๐ต๐ผ๐ ๐ต๐ถ๐ด๐ต ๐๐ถ๐น๐น ๐ฟ๐ฎ๐๐ฒ๐ ๐ด๐ผ ๐ฎ๐ป๐ฑ ๐๐ถ๐น๐น ๐๐ต๐ฒ๐ ๐ฐ๐ผ๐บ๐ฒ ๐ฏ๐ฎ๐ฐ๐ธ ๐ฑ๐ผ๐๐ป ๐๐ผ๐ผ๐ป?
As you can tell from the headlines about stocks, markets are volatile right now. Although it is possible rates could improve, the current forecast is that rates are going to move even higher. We will eventually see rates come down again, but that is only likely when the economy slows down and we could see a recession.
๐๐ ๐๐ต๐ฒ๐ฟ๐ฒ ๐ฎ ๐๐ถ๐น๐๐ฒ๐ฟ ๐น๐ถ๐ป๐ถ๐ป๐ด ๐๐ผ ๐๐ต๐ฒ๐๐ฒ ๐ต๐ถ๐ด๐ต๐ฒ๐ฟ ๐ฟ๐ฎ๐๐ฒ๐?
Higher rates are no fun - period. Paying more each month for a home than you thought you would pay is a downer.
HOWEVER...
Higher rates are opening the door to more homes, and it is helping restore balance to the housing market. You can now find homes to purchase that aren't in a bidding frenzy, and borrowers getting a mortgage are not finding as much competition from cash buyers. Less demand means you have a better shot of landing your dream home!
I have some ideas on how to help make your payments more affordable while rates are higher. Contact me today and I'll tell you why now is still a great time to buy a home, and how I can help!
#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance ... See MoreSee Less
Comment on Facebook
Norcom Mortgage is excited to announce that we are now offering conforming loans up to $715,000 (up from the previous $647,200) in anticipation of FHFAโs official announcement of an increase in its conforming loan limits.
Want to know all the details? Reach out to learn more! Audra Santos 203-526-9345 or audra@mycupartner.com ... See MoreSee Less
Comment on Facebook
Reach out today to learn more! ... See MoreSee Less
Comment on Facebook
๐ก ๐๐ผ๐ฟ ๐๐ต๐ฒ ๐๐ฒ๐ฒ๐ธ ๐ผ๐ณ ๐ฆ๐ฒ๐ฝ๐๐ฒ๐บ๐ฏ๐ฒ๐ฟ ๐ญ๐ต, ๐ฎ๐ฌ๐ฎ๐ฎ
๐ฅ๐ฒ๐ฐ๐ฎ๐ฝ ๐ผ๐ณ ๐น๐ฎ๐๐ ๐๐ฒ๐ฒ๐ธ: ๐ฅ๐ฎ๐๐ฒ๐ ๐ด๐ผ๐ ๐๐ผ๐ฟ๐๐ฒ ๐
Average mortgage rates got worse last week after consumer inflation data didn't show inflation was going down as fast as markets were speculating. The higher inflation data led markets to price in larger expected Fed rate hikes this month and at future meetings, pushing mortgage rates near the highest levels seen in years.
๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฅ๐ฎ๐๐ฒ ๐๐ผ๐ฟ๐ฒ๐ฐ๐ฎ๐๐: ๐ฅ๐ฎ๐๐ฒ๐ ๐ฐ๐ผ๐๐น๐ฑ ๐ถ๐บ๐ฝ๐ฟ๐ผ๐๐ฒ ๐
The Fed meeting this week is our best shot at seeing mortgage rates improve, although how much rates will go down is still anyone's guess. Rates have moved higher because the economy is not slowing down as much as expected, despite the Fed raising rates since March. Speculation of higher Fed rate hikes heading into 2023 will continue to keep rates at elevated levels.
๐๏ธ ๐ช๐ต๐ฎ๐'๐ ๐ฎ๐ณ๐ณ๐ฒ๐ฐ๐๐ถ๐ป๐ด ๐ฟ๐ฎ๐๐ฒ๐ ๐๐ต๐ถ๐ ๐๐ฒ๐ฒ๐ธ:
- The Fed: The Fed meeting this week will conclude on Wednesday with a Fed policy statement that will include a rate hike, currently expected to be .75% by most but may be a full point by some forecasts. Mortgage rates have already priced in the increase and will not move higher on the Fed rate hike, but instead are likely to improve at least slightly. We will also see the Fed's rate forecast heading into 2023, and Fed Chair Powell's press conference.
#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance ... See MoreSee Less
Comment on Facebook
๐ ๐๐ ๐ฎ ๐น๐ผ๐ฐ๐ฎ๐น ๐บ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฝ๐ฟ๐ผ๐ณ๐ฒ๐๐๐ถ๐ผ๐ป๐ฎ๐น, ๐บ๐ ๐ฟ๐ฒ๐ฝ๐๐๐ฎ๐๐ถ๐ผ๐ป ๐ฑ๐ฒ๐ฝ๐ฒ๐ป๐ฑ๐ ๐ผ๐ป ๐ฝ๐ฟ๐ผ๐๐ถ๐ฑ๐ถ๐ป๐ด ๐ฎ ๐ฏ๐ฒ๐๐๐ฒ๐ฟ ๐ฒ๐ ๐ฝ๐ฒ๐ฟ๐ถ๐ฒ๐ป๐ฐ๐ฒ ๐๐ต๐ฎ๐ป ๐๐ต๐ผ๐๐ฒ ๐ฏ๐ถ๐ด ๐ฏ๐ฎ๐ป๐ธ๐ ๐ฎ๐ป๐ฑ ๐ผ๐ป๐น๐ถ๐ป๐ฒ ๐น๐ฒ๐ป๐ฑ๐ฒ๐ฟ๐.
Getting a mortgage doesn't have to be frustrating and confusing. ๐ If you have the right person guiding you through the process, it can be easy and more convenient! ๐
๐๐ณ ๐๐ผ๐'๐ฟ๐ฒ ๐๐ต๐ถ๐ป๐ธ๐ถ๐ป๐ด ๐ฎ๐ฏ๐ผ๐๐ ๐ฏ๐๐๐ถ๐ป๐ด ๐ฎ ๐ต๐ผ๐บ๐ฒ, ๐ผ๐ฟ ๐ฟ๐ฒ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ป๐ด ๐๐ต๐ฒ ๐ต๐ผ๐บ๐ฒ ๐๐ผ๐ ๐ฎ๐น๐ฟ๐ฒ๐ฎ๐ฑ๐ ๐ผ๐๐ป, ๐น๐ฒ๐ ๐บ๐ฒ ๐ฏ๐ฒ ๐๐ผ๐๐ฟ ๐ด๐๐ถ๐ฑ๐ฒ.
There's never any obligation or fees when we talk. I can help you get a great low rate, find out how much home you can comfortably afford, and also help you get pre qualified or pre approved (ask me about the difference!).
I hope to hear from you soon!
#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance ... See MoreSee Less
Comment on Facebook
One of our favorite realtors brought her babies, Charlie and Chloe, to visit us at our Monroe branch. It only took 3 takes for them to cooperate for our picture ๐คฃ We love having our realtor partners stop by for a visit! We adore you and your babies Kimberly Braun Levinson, Realtor ... See MoreSee Less
Comment on Facebook
Is It Time To Move On From Renting? ... See MoreSee Less
Should You Move On From Renting?
www.mycupartner.com
Hi! Mortgage rates and home prices aren't the only thing on the rise - median monthly rent continues to go up year after year. To escape rising rent, you may want to consider buying a home so you can ...Comment on Facebook
Audra Santos, our VP, Branch Manager, spent some time with her PTO family this weekend supporting her children's school. Norcom loves supporting our local community ๐ ... See MoreSee Less
Comment on Facebook
๐ก ๐๐ผ๐ฟ ๐๐ต๐ฒ ๐๐ฒ๐ฒ๐ธ ๐ผ๐ณ ๐ฆ๐ฒ๐ฝ๐๐ฒ๐บ๐ฏ๐ฒ๐ฟ ๐ญ๐ฎ, ๐ฎ๐ฌ๐ฎ๐ฎ
๐ฅ๐ฒ๐ฐ๐ฎ๐ฝ ๐ผ๐ณ ๐น๐ฎ๐๐ ๐๐ฒ๐ฒ๐ธ: ๐ฅ๐ฎ๐๐ฒ๐ ๐ถ๐บ๐ฝ๐ฟ๐ผ๐๐ฒ๐ฑ ๐๐น๐ถ๐ด๐ต๐๐น๐ ๐
Last week rates moved almost exactly as we forecasted they would. Average mortgage rates moved higher on Tuesday after the long holiday weekend, matching recent highs, but quickly improved to end the week slightly better as markets adjusted to the idea that the Fed will continue to be aggressive in fighting inflation.
๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฅ๐ฎ๐๐ฒ ๐๐ผ๐ฟ๐ฒ๐ฐ๐ฎ๐๐: ๐๐ผ๐ผ๐ธ๐ถ๐ป๐ด ๐ณ๐ผ๐ฟ ๐ฟ๐ฎ๐๐ฒ๐ ๐๐ผ ๐ถ๐บ๐ฝ๐ฟ๐ผ๐๐ฒ ๐
Mortgage rates this week are in a position to move lower, but whether they do or not will depend on the inflation data that comes in this week. Tuesday's consumer inflation report is expected to show that inflation has slowed in August after falling slightly in July. If the report comes in as expected, it is likely to help mortgage rates to move at least slightly lower.
๐๏ธ ๐ช๐ต๐ฎ๐'๐ ๐ฎ๐ณ๐ณ๐ฒ๐ฐ๐๐ถ๐ป๐ด ๐ฟ๐ฎ๐๐ฒ๐ ๐๐ต๐ถ๐ ๐๐ฒ๐ฒ๐ธ:
- Inflation data: Tuesday we get the consumer inflation data, and Wednesday we get wholesale inflation data. Signs of easing inflation would help rates improve, but any surprises showing inflation isn't slowing would pressure rates to move higher.
- Europe's economy: Concerns about surging energy costs overseas and the implications on global inflation could be bad for rates here in the U.S.
#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance ... See MoreSee Less
Comment on Facebook
A great work event last night at Sinclairโs in Fairfield, CT. Itโs great to brainstorm with other mortgage professionals in our industry. ... See MoreSee Less
Comment on Facebook
Valerie DaCosta
Trying to tag myself ๐ will share on my page for now!