Mortgage Rates Stall After Election Results and Fed Rate Cut

November 14, 2024

With election results in and a Fed rate cut announced, mortgage rates have stalled at 6.78%. Opportunity still knocks for homebuyers, though. Housing is becoming more costly, so buying in the market now can save you money. Don't wait—seize the moment and invest in your future with Blue Reef Mortgage

According to Freddie Mac, this week, the 30-year fixed-rate went down by 0.01 basis points, bringing the U.S. weekly average to 6.78%. One year ago, the rate was 7.44%.

Despite recent market shifts, there are still trillions of dollars in loans with higher rates than today, presenting an opportunity to reposition your finances smartly. By dropping mortgage insurance, you could save hundreds each month. Additionally, refinancing can offer other ways to save—like securing a lower interest rate, consolidating debt, or shortening your loan term. Don't miss out on these incredible opportunities to enhance your financial future.

Blue Reef Mortgage is your local mortgage broker offering low in-market rates and personalized service. 

Whether you're buying a new home or refinancing your current one, we offer low, competitive mortgage rates and proudly serve our local communities. Let's get you prequalified to start home shopping!

Don’t wait—let’s get you prequalified today!

November 7, 2024

Mortgage rates continued to climb this week, reaching 6.79 percent. Purchase demand is highly sensitive to rate changes in the current market. As soon as rates began to rise in early October, purchase applications declined, dropping 10 percent over the past month.

According to Freddie Mac, this week, the 30-year fixed-rate increased by 0.07 basis points, bringing the U.S. weekly average to 6.79%. One year ago, the rate was 7.50%.

With the upcoming Federal Reserve rate cut, mortgage rates could ease over the coming months. However, the impact may not be immediate, as lenders consider multiple factors when offering mortgage rates.

At Blue Reef Mortgage, we're offering  Zero Down Payment and FREE Appraisals.  Take advantage of these incredible offers and secure your dream home with competitive rates and personalized service. Don't miss out.

Blue Reef Mortgage is your local Jupiter, Florida mortgage broker offering low in-market rates throughout Florida. 

Whether you're buying a new home or refinancing your current one, we offer low, competitive mortgage rates and proudly serve our local communities. Let's get you prequalified to start home shopping!

Don’t wait—let’s get you prequalified today!

October 31, 2024

Mortgage rates have risen for the fifth week in a row, reaching their highest point since early August. With key events on the horizon, such as the jobs report, the 2024 election, and the Federal Reserve's interest rate decision, volatility in mortgage rates is expected to continue. Despite the ongoing uncertainty, it seems rates are nearing their peak and are unlikely to hit the highs experienced earlier this year.

According to Freddie Mac, the 30-year fixed-rate mortgage is up 0.18 basis points, putting the U.S. weekly average at 6.72%. One year ago, the rate was 7.76%. The traditional mortgage rate remains over 1 whole percentage point lower than it was at this time last year.

Mortgage rates are significantly lower now compared to the same time last year.

While this isn't news homebuyers want to read, there are still great opportunities to enter the market. Blue Reef Mortgage offers rate buy-down options to make homeownership accessible. If you're thinking about diving into the real estate market, now's the time to reach out to Blue Reef Mortgage, your local mortgage broker. We have smart financing strategies that make purchasing a sound decision.

Whether you're buying a new home or refinancing your current one, we offer low, competitive mortgage rates and proudly serve our local communities. Let's get you prequalified to start home shopping!

We are your local mortgage broker located in Jupiter, FL, providing financing for borrowers across the state of Florida.

Don’t wait—let’s get you prequalified today!

October 24, 2024

 The 30-year fixed-rate mortgage continues to climb on the push-and-pull narrative of the economy. This clash between pessimistic economic narratives and unexpectedly strong economic data has resulted in greater-than-usual volatility in mortgage rates, even as the economy strengthens.

According to Freddie Mac, the 30-year fixed-rate mortgage is up 0.1 basis points, putting the U.S. weekly average at 6.54%. One year ago, the rate was 7.79%

Now is time to contact Blue Reef Mortgage, your local mortgage broker. We have smart financing strategies that make it a sound choice to purchase.

Whether you're buying a new home or refinancing your current one, we offer low, competitive mortgage rates and proudly serve our local communities. Let's get you prequalified to start home shopping!

Blue Reef Mortgage is your local Jupiter, Florida mortgage broker offering low in-market rates mortgage rates throughout Florida. 

Don’t wait—let’s get you prequalified today!

October 17, 2024

The 30-year fixed-rate mortgage rose for the third consecutive week, nearing 6.5%. Generally, higher rates indicate a strong economy, which is positive for the housing market. While rates are trending up, compared to last year, rates are lower, presenting a great opportunity for potential homebuyers. 

According to Freddie Mac, this week, the 30-year fixed-rate increased by 0.12 basis points, bringing the U.S. weekly average to 6.44%. One year ago, the rate was 6.82%.

If you're considering entering the real estate market, now is the perfect time to contact Blue Reef Mortgage, your local mortgage broker.

Blue Reef Mortgage is your local Jupiter, Florida mortgage broker offering low in-market rates mortgage rates throughout Florida. 

At Blue Reef Mortgage, we’re here to help you navigate these low market rates and get you into your new home.

Don’t wait—let’s get you prequalified today!

October 10, 2024

After a robust September jobs report, the 30-year fixed-rate mortgage experienced its largest one-week surge since April. This spike is more a reflection of shifting market expectations rather than any underlying economic weakness, as the economy has been resilient throughout most of the year. While higher rates may challenge affordability, they also indicate the robust economic foundation that should continue to bolster the housing market's recovery.

According to Freddie Mac, this week, the 30-year fixed-rate increased by 0.20 basis points, bringing the U.S. weekly average to 6.32%. One year ago, the rate was 7.57%.

Blue Reef Mortgage is your local Jupiter, Florida mortgage broker offering low in-market rates mortgage rates throughout Florida. 

At Blue Reef Mortgage, we’re here to help you navigate these low market rates and get you into your new home.

Don’t wait—let’s get you prequalified today!

October 3, 2024

Hey everyone! So, mortgage rates haven’t dropped much recently because of some global political issues and a quick rise in short-term rates, which shows we were a bit too hopeful about rate cuts happening soon. But if we look at the overall picture, things are still pretty positive. Over the past year, mortgage rates have actually dropped by 1.5%, home price growth is slowing, there are more homes on the market, and incomes are going up. This means that the market is becoming more favorable for homebuyers this fall, and we expect this trend to continue through the rest of the year. Great news for those looking to buy! 

At Blue Reef Mortgage, we’re here to help you navigate these low market rates and get you into your new home.

Local Jupiter, Florida mortgage rates (including Palm Beach County) have increased by 0.04 basis points, but they are still hovering above 6.00%.

According to Freddie Mac, the U.S. weekly average for the 30-year fixed-rate mortgage has increased to 6.12% from 6.08%.

Act NOW!

It's an excellent time to buy a home or refinance your current one. Don’t wait—let’s get you prequalified today!

September 26, 2024

This week, the 30-year fixed-rate mortgage dipped slightly, reaching its lowest level in two years. Now is a wonderful time to get pre-qualified.  At Blue Reef Mortgage, we are here to help you navigate options and find the best mortgage solution for your goals.

Local Jupiter, Florida mortgage rates (including Palm Beach County) have decreased by 0.01 oubasis points, driving mortgage rates even closer to six percent.

According to Freddie Mac, the U.S. weekly average for the The 30-year fixed-rate mortgage has decreased to 6.08% from 6.09%.

Act NOW!

It's an excellent time to buy a home or refinance your current one. Don’t wait—let’s get you prequalified today!

September 19, 2024

Federal Reserve Board cut its key rate by a half-point, a more aggressive cut than expected.  

With the Fed funds rate now between 4.75% and 5%, borrowing has become more affordable. This means your money goes further, enhancing your purchasing power. Lower payments make it easier for you to secure the rate you deserve at a lower payment. 

Local Jupiter, Florida mortgage rates (includes Palm Beach County) have decreased by more than 0.11 basis points, driving mortgage rates closer to six percent.

According to Freddie Mac, the U.S. weekly average for the The 30-year fixed-rate mortgage has decreased to 6.09% from 6.20%.

Act NOW!

It's an excellent time to buy a home or refinance your current one. Don’t wait—let’s get you prequalified today!

September 12, 2024

Over the past six weeks, local Jupiter, Florida mortgage rates (includes Palm Beach County) have decreased by more than 50 basis points, reaching their lowest point since February 2023. This decline is driven by more subdued economic data. However, despite the favorable mortgage rate environment, many potential buyers are still hesitant, facing challenges such as high home prices and ongoing supply shortages

According to Freddie Mac, the U.S. weekly average for the The 30-year fixed-rate mortgage has decreased to 6.20% from 6.35%.

Now is an excellent time to buy a home or refinance your current one. Don’t wait—let’s get you prequalified today!

September 5, 2024

Mortgage rates remained unchanged this week as the market anticipates the release of the last months jobs report. That stated, homeowners who purchased in recent years are seizing the opportunity to refinance at lower rates, reducing their monthly payments. Contact Blue Reef Mortgage today to see how we can save you each month.

According to Freddie Mac, the U.S. weekly average for the 30-year fixed-rate mortgage is steady at 6.35%.

Now is an excellent time to buy a home or refinance your current one. Don’t wait—let’s get you prequalified today!

August 29, 2024

Mortgage rates dropped again this week, driven by expectations of a Fed rate cut. While rates are anticipated to keep falling, potential homebuyers are closely monitoring the situation. 

According to Freddie Mac, the U.S. weekly average for the 30-year fixed-rate mortgage has decreased to 6.35%, down from 6.46% last week. 

Now is an excellent time to buy a home or refinance your current one. Don’t wait—let’s get you prequalified today!

Are you currently paying a higher than average interest rate on your mortgage? It's time for a change! Refinance with Blue Reef Mortgage and secure a better rate today. Lower your monthly payments, take cash out, save money, and enjoy peace of mind. Don't wait—start your refinancing journey now!

 Looking for the best mortgage deals today? At Blue Reef Mortgage, we prioritize our borrowers and are committed to helping you save. Whether you’re a first-time homebuyer or looking to refinance, our advanced tech stack ensures an efficient, seamless, and painless mortgage process. With our expertise and dedication, you can secure the best rates and terms available. Contact us today to discover the difference with Blue Reef Mortgage and take the first step towards your dream home! 

Unlocking the Best Mortgage Rates in West Palm Beach

Are you on the hunt for the current mortgage rates in West Palm Beach? Or perhaps you're searching for the lowest mortgage rates to make your dream home more affordable? Look no further! At Blue Reef Mortgage, we specialize in helping you find the best mortgage options tailored to your needs.

Why Focus on Mortgage Rates?

Understanding the current mortgage rates in West Palm Beach is crucial for making informed decisions about your home financing. Whether you're a first-time homebuyer or looking to refinance, knowing the lowest mortgage rates can save you thousands of dollars over the life of your loan.

Today's Mortgage Rates in West Palm Beach

Keeping up with today's mortgage rates in West Palm Beach can be challenging, but it's essential for securing the best deal. Rates fluctuate based on various factors, including economic conditions and Federal Reserve policies. At Blue Reef Mortgage, we provide up-to-date information on West Palm Beach mortgage rate trends to help you stay ahead.

Comparing Mortgage Rates

When searching for the best mortgage rates in West Palm Beach, it's important to know that brokers can save your over $10,000 over big box lenders. Our team at Blue Reef Mortgage makes this process easy by offering a comprehensive West Palm Beach mortgage rate comparison. We ensure you get the most affordable mortgage rates available.

Benefits of Low Mortgage Rates

Securing low interest mortgage rates in West Palm Beach can significantly impact your financial well-being. Lower rates mean lower monthly payments, allowing you to save more or invest in other areas. Additionally, West Palm Beach mortgage rate deals can provide opportunities for refinancing, giving you access to better terms and conditions.

Purchasing a New Home

If you're considering purchasing a new home in West Palm Beach, now is a great time to take advantage of the current mortgage rates. Our experts at Blue Reef Mortgage can help you navigate the home buying process and secure the best financing options available. With our guidance, you'll be well on your way to owning your dream home.

Refinancing to Lower Your Payment or Cash Out

Thinking about refinancing to lower your payment or cashing out? With the current mortgage rates in West Palm Beach, refinancing can be a smart move. Lowering your interest rate can reduce your monthly payments, freeing up cash for other expenses. Alternatively, a cash-out refinance can provide you with the funds you need for home improvements, debt consolidation, or other financial goals.

Stay Updated with Mortgage Rate Trends

Staying informed about West Palm Beach mortgage rate updates is key to making the best financial decisions. Our experts at Blue Reef Mortgage are dedicated to providing you with the latest information and insights on West Palm Beach mortgage rate trends. This knowledge empowers you to act quickly and lock in the best rates.

Conclusion

At Blue Reef Mortgage, we are committed to helping you navigate the complex world of mortgages. Whether you're looking for the current mortgage rates in West Palm Beach, aiming to secure the lowest mortgage rates, or considering purchasing a new home or refinancing to lower your payment or cash out, our team is here to guide you every step of the way. Don't miss out on the best West Palm Beach mortgage rate deals—contact us today to start your journey towards homeownership or refinancing.

Unlocking the Best Mortgage Rates in Boca Raton

Are you on the hunt for the current mortgage rates in Boca Raton? Or perhaps you're searching for the lowest mortgage rates to make your dream home more affordable? Look no further! At Blue Reef Mortgage, we specialize in helping you find the best mortgage options tailored to your needs.

Why Focus on Mortgage Rates?

Understanding the current mortgage rates in Boca Raton is crucial for making informed decisions about your home financing. Whether you're a first-time homebuyer or looking to refinance, knowing the lowest mortgage rates can save you thousands of dollars over the life of your loan.

Today's Mortgage Rates in Boca Raton

Keeping up with today's mortgage rates in Boca Raton can be challenging, but it's essential for securing the best deal. Rates fluctuate based on various factors, including economic conditions and Federal Reserve policies. At Blue Reef Mortgage, we provide up-to-date information on Boca Raton mortgage rate trends to help you stay ahead.

Comparing Mortgage Rates

When searching for the best mortgage rates in Boca Raton, it's important to know that brokers can save your over $10,000 over big box lenders. Our team at Blue Reef Mortgage makes this process easy by offering a comprehensive Boca Raton mortgage rate comparison. We ensure you get the most affordable mortgage rates available.

Benefits of Low Mortgage Rates

Securing low interest mortgage rates in Boca Raton can significantly impact your financial well-being. Lower rates mean lower monthly payments, allowing you to save more or invest in other areas. Additionally, Boca Raton mortgage rate deals can provide opportunities for refinancing, giving you access to better terms and conditions.

Purchasing a New Home

If you're considering purchasing a new home in Boca Raton, now is a great time to take advantage of the current mortgage rates. Our experts at Blue Reef Mortgage can help you navigate the home buying process and secure the best financing options available. With our guidance, you'll be well on your way to owning your dream home.

Refinancing to Lower Your Payment or Cash Out

Thinking about refinancing to lower your payment or cashing out? With the current mortgage rates in Boca Raton, refinancing can be a smart move. Lowering your interest rate can reduce your monthly payments, freeing up cash for other expenses. Alternatively, a cash-out refinance can provide you with the funds you need for home improvements, debt consolidation, or other financial goals.

Stay Updated with Mortgage Rate Trends

Staying informed about Boca Raton mortgage rate updates is key to making the best financial decisions. Our experts at Blue Reef Mortgage are dedicated to providing you with the latest information and insights on Boca Raton mortgage rate trends. This knowledge empowers you to act quickly and lock in the best rates.

Conclusion

At Blue Reef Mortgage, we are committed to helping you navigate the complex world of mortgages. Whether you're looking for the current mortgage rates in Boca Raton, aiming to secure the lowest mortgage rates, or considering purchasing a new home or refinancing to lower your payment or cash out, our team is here to guide you every step of the way. Don't miss out on the best Boca Raton mortgage rate deals—contact us today to start your journey towards homeownership or refinancing.