• Skip to main navigation
  • Skip to content
  • Skip to primary sidebar

Realty Solutions Group

Service Beyond Expectation

  • Home
  • Selling?
    • Sell With Us, Get Results Fast!
    • ULTIMATE 85 POINT MARKETING PLAN
    • Our Online Marketing Plan
    • Seller Proceeds Calculator
    • Our Recent Testimonials
  • Buying?
    • Buying?
    • Should you rely on Zillow and Trulia?
    • Our Recent Testimonials
  • Property Search
    • Ozaukee County
      • Ozaukee County For Sale
      • Grafton Homes
    • Washington County For Sale
      • All Washington County Homes
      • Erin Homes
      • Hartford Homes
      • Kewaskum Homes
      • Jackson Homes For Sale
      • Richfield Homes
      • Slinger Homes For Sale
      • West Bend Homes
  • Milw Employees
  • Hobby Farms
  • Horse Properties
  • Listing Expired?
  • About Us
    • About Jim
    • About Susan
    • Our Recent Testimonials
    • Contact Us!
SearchClose

Mortgage Rates Today, Tuesday, Dec. 6: Postelection Rate Surge Cuts Potential Refinance Population in Half

Thirty-year fixed rates held steady, while 15-year fixed and 5/1 ARM rates eased slightly lower Tuesday, according to a NerdWallet survey of mortgage rates published by national lenders this morning.

The mortgage rate runup since the election has pinned rates near two-year highs, with little on the horizon to ease the upward pressure. The Federal Reserve is expected to raise short-term interest rates at its meeting next week. While not a direct influence on mortgage rates, a Fed hike would give little room for long-term rates to decline.


House_pricetag

Mortgage Rates Today,
Tuesday, Dec. 6

(Change from 12/5)
30-year fixed: 4.34% APR (NC)
15-year fixed: 3.71% APR (-0.02)
5/1 ARM: 3.78% APR (-0.01)

4.3 million potential refinance candidates lost since election

The dramatic increase in mortgage rates since the presidential election has taken its toll on the number of potential refinance candidates. In a new report, real estate research firm Black Knight estimates 4.3 million homeowners have been removed from the pool of borrowers likely to refinance their home loan.

“From the 8.3 million borrowers who could both likely qualify for and had interest rate incentive to refinance immediately prior to the election, we’re now looking at a population of just 4 million total, matching a 24-month low set back in July 2015,” Ben Graboske, Black Knight executive vice president, said in a release.

» MORE: The pros and cons of home equity lines of credit

However, Graboske notes there are still 2 million borrowers who could save $200 or more per month by refinancing. He also says affordability has taken a hit — with the rapid increase in mortgage rates equivalent to a rise in the average home price of over $16,400.

“It now takes 21.6% of the median income to purchase the median home nationally,” he said. “That’s the highest share of median income needed to buy the median home since June 2010, when rates were at 4.75% but the average home was worth nearly 20% less than it is today.”


Homeowners looking to lower their mortgage rate can shop for refinance lenders here.

NerdWallet daily mortgage rates are an average of the published APR with the lowest points for each loan term offered by a sampling of major national lenders. Annual percentage rate quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

More from NerdWallet
Best lenders for FHA loans
Calculate your monthly mortgage payment
Calculate your refinance savings

Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: hal@nerdwallet.com. Twitter: @halmbundrick.

The article Mortgage Rates Today, Tuesday, Dec. 6: Postelection Rate Surge Cuts Potential Refinance Population in Half originally appeared on NerdWallet.

 

Posted in: Uncategorized

About Jim Piwowarczyk

Realty Solutions Group was built around a simple but elusive concept: provide brokers and clients with the highest level of service in the industry through cutting-edge sales, marketing programs and a culture that values innovation, relationships and a strong local focus.

In less than 5 years, Realty Solutions Group is among the top independent brokerage firms in S/E Wisconsin.

As a locally-owned, independent company, Realty Solutions Group is deeply committed to supporting the communities and clients we serve. We are constantly evolving, but remain focused on that one simple idea behind our founding.

We are a full service brokerage with discounted commissions. We offer no long term listing contracts, a Performance Guarantee, Smart Seller Program and a Communication Guarantee. Contact us today and let us provide you with the very best real estate experience.

Post navigation

« Why ‘Starter Homes’ Aren’t What They Used to Be
Mortgage Rates Today, Wednesday, Dec. 7: A Notch Lower; Home Prices Soar Again »

Questions? Showing Request?

Please include the address or MLS # of the property and preferred showing day/time.

Tackle This Common Home Worry With a Plan

April 25, 2018 12:00 pm | By Jim Piwowarczyk

If a dripping faucet wakes you up at night, the... Read more →

Lay Groundwork for Better Home Value With Artful Landscaping

April 24, 2018 12:00 pm | By Jim Piwowarczyk

When designing his current home, Andre Kim knew he wanted... Read more →

Take Your Basement From Fright to Functional on a Budget

April 23, 2018 8:00 pm | By Jim Piwowarczyk

A finished basement increases your home’s usable space, but taking... Read more →

Why Tax Cuts Aren’t Good News If You Plan to Get a Mortgage

April 20, 2018 2:00 pm | By Jim Piwowarczyk

Tax cuts are great, right? Not necessarily, if you’re planning to... Read more →

Love That Home’s View? See How Much More You’ll Pay

April 4, 2018 12:00 pm | By Jim Piwowarczyk

A house with a fabulous view can be hard for... Read more →

Let us sell your property!

Full Service - 3.99% commission   No upfront fees!

This INCLUDES the 2.4% co-broke fee. (The commission that is paid to the buyer's agent)

Sell with us, Get results fast! We are a full service discount real estate company. We do not believe in the real estate franchise system. The truth of the matter is that the franchises takes a cut of  the commission and regulates how much marketing their agents can do. We cut out the franchise to save you money!

EASY EXIT GUARANTEE

If we do not provide 100% satisfactory service, just let us know.  We promise to remedy the situation within 24 hours. If you are still not satisfied, we will release you, unconditionally, from the listing agreement with no further obligation.

SMART SELLER GUARANTEE

Have the ability to contribute and get compensated for your
efforts.  If you find the buyer, you pay no commission.
You can advertise and hold your own open houses.

PERFORMANCE GUARANTEE

We will sell your house in 59 days, or sell it for FREE!*

COMMUNICATION GUARANTEE

When you sell with us, we will communicate weekly with you or pay you $100.

Our UNIQUE  85 POINT MARKETING PLAN

Click here to see our Marketing plan! When you sell with us, this is the plan to get you the most for your property fast!

Our ONLINE MARKETING STRATEGY

Click Here to see our comprehensive Online marketing strategy!

Our TESTIMONIALS

Click Here to see the testimonials of our many satisfied clients!

© 2018 · Equity Framework

Digital Millennium Copyright Act (“DMCA”)

Log in
Sitemap

Sitemap

Sitemap