July 12, 2024

Home Mortgage Rates Spike

Mortgage Rates jump to 5.25%

Home mortgage rates climbed to 5.25% today – the highest mortgage interest rates since late 2018! In addition, the yield on the 10yr US Treasury climbed to 2.857% which is tied loosely to mortgage rates.

Home Mortgage Rates Spike

Home Mortgage Rates Spike

According to the Mortgage News Daily, the average 30yr fixed rate mortgage is around 5% for the current mortgage rates (at the time of filming this video). That’s up ~2% YTD for the average 30yr fixed rate mortgage.

It’s mind boggling how realtors try to to convince you to buy right now.

Unless you absolutely Must buy a house, I wouldn’t do so right now. Too much uncertainty with the economy and rising inflation+gas prices+mortgage rates+utilities+insurance etc. Purchasing at the top of the market has NEVER been a wise investment no matter what anyone says.
If Home Prices were even near normal, 5.25% would be an absolutely awesome rate. But, home prices are at historic highs instead. Couple that with rising home interest rates, and even more would be buyers are going to be priced out of today’s housing market.

If you have not already read my post (Pending Home sales drop fourth straight month) be sure to have a look.


San Diego Real Estate Website for sale

An  opportunity to purchase a two-decade old real estate site ( https://brokerforyou.com/brokerforyou/) centering on San Diego California. Besides a very unique and generic URL, the site has over a thousand pages of content which provides for easy updating and basic SEO techniques to regenerate it’s hi keyword standings for San Diego real estate.

  • www.brokerforyou.com is 24 Years old! The vast majority of search engine professionals agree that the age of a website is an important factor in the Google algorithm.

    There is also another undisputed factor in the ranking of websites. That factor, is the amount of unique specific content published on the website. So, it’s pretty hard for a two year old or a five-year-old or for that matter a 10-year-old website out rank a 24-year-old website that has 2 to 4 times the content.

    San Diego real estate opportunity  www.brokerforyou.com is for sale! if your real estate broker in San Diego California or thinking of expanding your brokerage business into San Diego, purchasing www.brokerforyou.com to give you a huge boost in becoming a player in the residential San Diego real estate market.

    Brokerforyou.com is for SALE

    Just like most major businesses, the easiest way, and the fastest way to expand your business and influence in your particular market is through strategic acquisition. Just look at Google, they are the number one search engine in the world! Google bought Youtube in November 2006 for US$1.65  billion! YouTube now operates as one of Google’s subsidiaries.

    www.brokerforyou.com is for sale and is offered with a very popular San Diego residential real estate channel with 1.16K subscribers and 114 videos!!

    What’s the approximately monthly cost to host a website?  With shared hosting, you’re hosting fee can break down to about 10 to $15 per month. To keep your url registered (that’s your site address), this is usually paid on a five to 10-year basis, which averages out to about just a dollar per month!  Naturally, if you add direct hook-up to a MLS database, that provides lead capturing, this costs can vary greatly from provider-to-provider.

    Interested, call Bob Schwartz (619) 286-5604 for additional information

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