New Listings Updated Daily + LakeArrowheadLiving.com + Hot Links below
If mortgage rates continue to rise, is selling or buying an Arrowhead vacation home the right choice for you? Answer: Lake Arrowhead is one, two hours from home, a mile high, above the clouds, quiet, casual, clean air, and we believe people life longer and happier here. Question?
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that after declining for two straight weeks, mortgage rates reversed direction this week and rose to their second highest level this year.
“The good news is that the impact on consumer budgets will be smaller than past rate hike cycles, per Chief Economist Khater. That is because a much smaller segment of mortgage loans in today’s market are pegged to short-term rate movements. The adjustable rate mortgage (ARM) share of outstanding loans is a lot smaller now – 8 percent versus 31 percent – than during the Fed’s last round of tightening between 2004 and 2006.”
Added Khater, “Still, inflation continues to firm and borrowing costs are inching higher. Although wages are slowly growing, stronger gains would certainly go a long way in helping consumers offset these increases in prices and rates.”
TIPS FOR FRESH THINKING:
Call Bob; Your price in 24 hours 909.496.8200
Be aware of what’s happening daily in our mountain real estate market. Click any image below.