Hello everybody! Welcome back to Suburban Snacks, where we not only inform you of current Real Estate topics but also review a different food item every month! This month’s snack is…Tamarindo Bars! Before we review the snack, we’ll be informing you on whether or not buyers should be shopping around for mortgage rates in today’s market! As mortgage rates surge and remain volatile, it’s becoming increasingly necessary for home buyers to shop around for a loan to find savings. According to Freddie Mac, borrowers potentially could save an average of $1,500 over the life of a loan by gathering one additional rate quote from a lender. And borrowers could save even more by gathering five different quotes from lenders—up to $3,000, Freddie Mac research shows. Every dollar may help as housing affordability reaches a critical threshold. Nadia Evangelou, senior economist and director of forecasting for the NAR predicted that the typical U.S. household will no longer be able to afford a median-priced home when mortgage rates reach 5.7%. This week, the 30-year fixed-rate mortgage pushed to an average of 5.89%. That means the typical household must now spend more than 25% of their income on mortgage payments, a level most financial experts consider to be cost-burdened. So, if you are someone looking to invest in a home and you need help shopping for the right mortgage rate then we at Suburban would love to help! Do you like… tamarindo bars? Let us know in the comments below. That’s going to do it for us here at Suburban Snacks. If you have any questions or would like to get into contact with us feel free to check out our website at suburbanrealestategroup.com. Also, make sure to click the link below to follow us on Instagram. Thanks for watching, my name is Cheri Malozsak and we will see you in the next one!
Suburban Real Estate Group2023-01-30T08:58:32-07:00September 30, 2022|Suburban Snacks|
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Suburban Real Estate Group
Our team of experienced agents have facilitated the transfer of nearly $80 Million worth of Real Estate and currently manage over $30 Million worth of rental properties. By using the latest technology available in the industry, combined with their family values, buyers, sellers, and property owners can rest assured that their best interest is Suburban’s number one priority.
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