Luxury Miami Real Estate

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550 South Dixie Highway

Coral Gables, FL 33146

Cell: 305-798-8685

Office: 305-960-5330

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This Week’s Mortgage Rate Anomaly

Photo from thedailyprogress.com
Time and again I’ve heard that federal interest rates are going to go up, and they have done so recently. That has had many people asking me about mortgage rates, and those have also been climbing of late. For instance, the rate for a 30-year fixed rate mortgage was at 5.05% in November – an 8-year high. This week, though, a 30-year fixed is back down to 4.75% due to the downturn in the stock market, which has “investors head[ing] to the relative safe-haven of the bond market,” according to Diana Olick of CNBC.com. She continues by saying that “mortgage rates follow loosely the yield on the 10-year U.S. Treasury,” which explains why rates have been more favorable this week. Read the full article by clicking here.

This week’s downward-trending mortgage rates are great, but I do think that we will see rates increasing overall. As previously mentioned, interest rates are expected to climb, and this will drive mortgage prices higher in the long run. I wish that I had a crystal ball and could tell you how high they might go or how it will impact the real estate market, but as of right now, only time will tell. If you are looking to buy a new home or to refinance your current one, now is the time to act!

If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, or visit my website at: Luxury Miami Real Estate

Luxury Miami Real Estate

My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.

Consistently in the top 10 company-wide at EWM for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!

Don’t hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. Senior Vice President, EWM Realty International.

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