Lauren Novak

612-805-5718

Lauren Novak

612.805.5718

Lauren@laurennovak.com

Mortgage Rates Drop Below Three Percent

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May 27, 2021
Mortgage rates are down below three percent, continuing to offer many homeowners the potential to refinance and increase their monthly cash flow. In fact, homeowners who refinanced their 30-year fixed-rate mortgage in 2020 saved more than $2,800 dollars annually. Substantial opportunity continues to exist today, as nearly $2 trillion in conforming mortgages have the ability to refinance and reduce their interest rate by at least half a percentage point.

Information provided by Freddie Mac.

January Monthly Skinny Video

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A robust increase in housing starts in December points to an active year for new construction, but higher material costs, especially lumber, and a limited supply of buildable lots will temper the number of new units.

December Monthly Skinny Video

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December is normally one of the slowest months of the year, but strong buyer demand across most segments of the market, buoyed by near record-low interest rates, continues to drive a healthy sales pace in the face of a new wave of COVID-19 infections and a softening job market.

Mortgage Rates Move Down

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January 28, 2021
As the market reacts to a new administration in Washington and COVID-19 driven economic malaise, mortgage rates continued to decrease this week, just slightly. Even as house prices increase at the fastest rate we’ve seen in years, competition to buy is strong given the low inventory that exists across the country. The fact that there are not enough homes to meet demand is going to be an ongoing issue for the foreseeable future.

Information provided by Freddie Mac.

Mortgage Rates Move Slightly

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January 21, 2021
Mortgage rates have hovered near historic lows for almost a year, fueling purchase and refinance activity amid a global health crisis. We’re now seeing rates fluctuate a bit as political and economic factors drive Treasury yields higher. However, we forecast rates to remain relatively low this year as the Federal Reserve keeps interest rates anchored near zero for a longer period of time, if needed until the economy rebounds.

Information provided by Freddie Mac.

Mortgage Rates Tick Up

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January 14, 2021
As Treasury yields have risen, it is putting pressure on mortgage rates to move up. While mortgage rates are expected to increase modestly in 2021, they will remain inarguably low, supporting homebuyer demand and leading to continued refinance activity. Borrowers are smart to take advantage of these low rates now and will certainly benefit as a result.

Information provided by Freddie Mac.

Mortgage Rates Hit a New Record Low the First Week of 2021

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January 7, 2021
A new year, a new record low mortgage rate. Despite a full percentage point decline in rates over the past year, housing affordability has decreased because these low rates have been offset by rising home prices. However, the forces behind the drop in rates have been shifting over the last few months and rates are poised to rise modestly this year. The combination of rising mortgage rates and increasing home prices will accelerate the decline in affordability and further squeeze potential homebuyers during the spring home sales season.

Information provided by Freddie Mac.

Mortgage Rates Remain Near Record Low Heading Into 2021

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December 31, 2020
All eyes have been on mortgage rates this year, especially the 30-year fixed-rate, which has dropped more than one percentage point over the last twelve months, driving housing market activity in 2020. Heading into 2021 we expect rates to remain flat, potentially rising modestly off their record low, but solid purchase demand and tight inventory will continue to put pressure on housing markets as well as house price growth.

Information provided by Freddie Mac.

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