Interest Rates - Billy Cogar REALTOR®

First Time Home Buyers, For Buyers, For Sellers, Housing Market, Interest Rates

Mid-Year Market Update for 2024: What Buyers and Sellers Need to Know

Last December, when the Federal Reserve projected a series of benchmark rate cuts in the coming year, some analysts speculated that mortgage rates—which had recently peaked near 8%—would fall closer to 6% by mid-2024.1,2,3 Unfortunately, persistent inflation has delayed the central bank’s timeline and kept the average 30-year mortgage rate hovering around 7% so far […]
Financing, First Time Home Buyers, For Buyers, Housing Market, Interest Rates, Interest Rates

East Texas: What’s Really Happening with Mortgage Rates?

Mortgage rates don’t move in a straight line. There are too many factors at play for that to happen. Instead, rates bounce around because they’re impacted by things like economic conditions, decisions from the Federal Reserve, and so much more. That means they might be up one day and down the next depending on what’s going on in the economy and the world as a whole.
Financing, First Time Home Buyers, For Buyers, Housing Market, Interest Rates, Move-Up Buyers

Why Pre-Approval Is Even More Important This Year

On the road to becoming a homeowner? If so, you may have heard the term pre-approval get tossed around. Let’s break down what it is and why it’s important if you’re looking to buy a home in 2024. What Pre-Approval Is As part of the homebuying process, your lender will look at your finances to figure out what they’re willing to […]
First Time Home Buyers, For Buyers, Interest Rates

2 Factors That Impact Mortgage Rates

If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why? The answer is complicated because there’s a lot that can influence mortgage rates. Here are just a few […]