The recent invasion of Ukraine by Russia is unsettling news, and as we pray for a timely resolution to the conflict, we want to keep you informed of how this is affecting the housing market here in the United States.
Interest rates have fallen under 4%. 30 year loans are seeing rates around 3.875% with 3.894% APR. 15 year loans are seeing rates around 3.25% with 3.289% APR. Mortgage backed securities have dropped from 2% to 1.7%, and the Ten Year Bond has decreased as well.
Whether or not you will be able to take advantage of these lower rates will depend on your down-payment amount and credit score. Please be sure to reach out for an updated loan estimate.