Is Now the Time To Buy? Homebuyer’s Mortgage Watch – September 29 2019

To find out if now is the time to buy, check out this week’s mortgage highlights:

  • Financial markets tend to detest uncertainty, and last week’s announcement of the formal impeachment probe into the President creates more ambiguity in the future.
  • The relative safety of the bond market saw an inflow of money from more risky investments which pushed mortgage rates downward.
  • Consumer Confidence also helped press rates lower, dropping by 9.1 points. However, that was balanced to some degree by an uptick in the University of Michigan’s Consumer Sentiment reading. The final estimate of GDP for the second quarter remained unchanged at 2.0%, and current forecasts for the third quarter are running about the same.
  • The drama in Washington may have some larger-than-usual impact on market volatility as the probe plays out. The ISM’s twin reports are due this week along with the monthly employment data.
  • Should the manufacturing report move further downward, rates may follow the same path. However, another solid employment report could help create some upward pressure on all interest rates.
  • Is now the time to buy for you? Purchasing a home is about finding the perfect time in your life. Click here to start your home search.

The Home Buying Process is Rigged?

A survey by Framework, a resource on homeownership, revealed that many prospective first-time buyers are not prepared for the process of buying a home. 47% felt that the process was “rigged” against the buyer, and 44% fear making a costly mistake. Only 41% thought that they were prepared for the home buying process.



More about Grace Keister

Grace Keister is the Digital Engagement Strategist and website content manager for First Team Real Estate. Graduating from the University of California, Irvine with a degree in English and Sociology, Grace is a native Southern Californian. In her 6 years with the company, her role has grown from blog creation to social media management, digital agent support, and more. 

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