January 16, 2025
Mortgage rates have climbed for the fifth week in a row, surpassing seven percent for the first time since May 2024. The robust economy is driving this rise in rates. Despite the upward trend, Freddie Mac research underscores that consumers can still save money by shopping around and obtaining quotes from multiple lenders. However, borrowers are losing more buying power due to these increasing rates.
According to Freddie Mac, this week, the 30-year fixed-rate rose 0.11 basis points, bringing the U.S. weekly average to 7.04%. One year ago, the rate was 6.60%.
Homebuyers should reassess their options and focus on making purchases within their budget.
As homebuyers face reduced purchasing power due to rising mortgage rates, it's essential for those in the market to reassess and consider homes within their budget. While it may not be the dream home, it gets them into the market. Once interest rates drop, homeowners can leverage their equity and eventually move to their ideal home. Taking action now is crucial to avoid diminishing wealth.
At Blue Reef Mortgage, we're your one-stop shop for everything from pre-approval to home shopping and financing. Call us today!
Blue Reef Mortgage is your local mortgage broker offering low in-market rates and personalized service.
NMLS 1428917
Don’t wait—let’s get you prequalified today!
January 9, 2025
As the new year kicks off, the 30-year fixed-rate mortgage is holding steady at just under 7 percent. The robust economy has driven mortgage rates upward, and when combined with high home prices, housing affordability continues to be a challenge. The ongoing shortage of entry-level homes further complicates matters, particularly for prospective first-time buyers.
According to Freddie Mac, this week, the 30-year fixed-rate inched up 0.02 basis points, bringing the U.S. weekly average to 6.93%. One year ago, the rate was 6.66%.
Mortgage rates are influenced by movements in the bond market, which today operated on a shortened schedule due to the federal day of mourning for Jimmy Carter. Consequently, market volume and volatility were limited. Nonetheless, overnight market movements allowed the average lender to offer a slight improvement compared to yesterday.
Hope Remains
As homebuyers navigate through higher interest rates, a 2-1 buydown is an excellent solution. With this product, borrowers can now benefit with a lower rate with costs paid by the seller, negotiated by the buyer agent. This buydown reduces the interest rate on the mortgage by 2% in the first year and by 1% in the second year, providing significant savings for borrowers during the initial years of their loan. When rates drop, the mortgage can be refinanced.
At Blue Reef Mortgage, we're here to support your clients every step of the way, from pre-approval to home shopping and financing. Please feel free to reach out if there's any way we can assist you and your clients.
At Blue Reef Mortgage, we're your one-stop shop for everything from pre-approval to home shopping and financing. Call us today!
Blue Reef Mortgage is your local mortgage broker offering low in-market rates and personalized service.
NMLS 1428917
Don’t wait—let’s get you prequalified today!
January 2, 2025
With rates approaching seven percent, mortgage rates have reached their highest level in nearly six months. Although rates are higher than this time last year and affordability remains a challenge, there is a positive trend with more buyers entering the market as pending home sales increase.
According to Freddie Mac, this week, the 30-year fixed-rate inched up 0.06 basis points, bringing the U.S. weekly average to 6.91%. One year ago, the rate was 6.62%.
Homebuyer Market is coming alive in 2025!
Homebuyers are stepping off the sidelines and seizing the opportunity to purchase homes, undeterred by current interest rates. They understand that refinancing to their target rate when rates eventually drop will save them in the long run. Most importantly, they are investing now, preserving the equity and wealth they would have missed out on if they had waited longer.
What are your financial aspirations for 2025? Reach out to us by message or call 561-831-8911, and let's have a discussion.
At Blue Reef Mortgage, we're your one-stop shop for everything from pre-approval to home shopping and financing. Call us today!
Blue Reef Mortgage is your local mortgage broker offering low in-market rates and personalized service.
NMLS 1428917
Don’t wait—let’s get you prequalified today!
December 26, 2024
Mortgage rates rose for the second consecutive week, recovering after a drop earlier this month. Although there has been a modest uptick in both new and existing home sales, the market continues to struggle with a significant shortage of available homes. A robust economy could help generate momentum as we move into the new year, potentially enhancing purchase activity.
According to Freddie Mac, this week, the 30-year fixed-rate increased 0.13 basis points, bringing the U.S. weekly average to 6.85%. One year ago, the rate was 6.61%.
As we head into 2025, the outlook for home prices is mixed. On the downside, prices are anticipated to keep rising. However, the good news is that the increases won't be as steep as in recent years.
Overall, housing experts concur that home prices will continue to rise steadily next year unless there are significant market disruptions, such as a highly improbable housing crash. Nonetheless, the predicted range for price increases is relatively narrow.
Despite rising rates and increasing home prices, there’s still a valuable opportunity for homebuyers to enter the market. By getting prequalified, you can position yourself to act quickly and confidently when the right property becomes available. As home prices continue to rise, securing a home now means you can start building equity sooner, potentially leading to greater financial stability and future opportunities to refinance at lower rates.
Don’t wait for the perfect moment; let’s get you prequalified today. Contact Blue Reef Mortgage to start your home-buying journey and make the most of the current market conditions. The key is to get in the game. How do you do that? Start by getting a preapproval letter and begin shopping with our first-in-class realtor team.
Blue Reef Mortgage is your local mortgage broker offering low in-market rates and personalized service.
NMLS 1428917
Don’t wait—let’s get you prequalified today!
December 19, 2024
This week, mortgage rates edged up to levels similar to those seen this time in 2023. Despite the Federal Reserve cutting interest rates by 0.25%, mortgage rates have actually increased. This unexpected rise is due to the bond market's reaction to anticipated future economic conditions and the Fed's monetary policy. Over the past 12 months, mortgage rates have mostly ranged between 6 and 7 percent. Homebuyers are gradually coming to terms with these higher rates and are becoming more willing to proceed with purchasing homes, leading to an uptick in purchase activity.
According to Freddie Mac, this week, the 30-year fixed-rate increased 0.12 basis points, bringing the U.S. weekly average to 6.72%. One year ago, the rate was 6.77%.
As homebuyers adjust to the higher mortgage rates compared to those seen in 2020-2022, the focus is now shifting towards navigating higher home prices and market affordability. While the homes they are purchasing might not match what they could have afforded with lower rates and prices, the important thing is that they are entering the market. By watching their equity grow and staying informed about mortgage interest trends, buyers will have the opportunity to refinance and potentially save hundreds per month, or even upgrade to their ideal home in the future. The key is to get in the game. How do you do that? Start by getting a preapproval letter and begin shopping with our first-in-class realtor team. Contact us today to get your preapproval letter and start your home-buying journey.
Blue Reef Mortgage is your local mortgage broker offering low in-market rates and personalized service.
NMLS 1428917
Don’t wait—let’s get you prequalified today!
December 12, 2024
Freddie Mac reports that the 30-year fixed-rate mortgage has fallen for the third straight week. This downward trend, alongside robust consumer income growth and a bullish stock market, has spurred increased homebuyer interest in recent weeks. However, despite this positive trend, potential homebuyers are still grappling with significant affordability challenges.
According to Freddie Mac, this week, the 30-year fixed-rate decreased 0.09 basis points, bringing the U.S. weekly average to 6.60%. One year ago, the rate was 6.95%.
With the housing market gaining some momentum, it's crucial for borrowers to act now. Mortgage rates are dropping, and consumer demand is increasing. Getting prequalified allows you to start shopping for your dream home before the market fully shifts to a seller's market. Once that happens, buyer concessions will diminish, and home prices will rise further. By acting now, you can secure better terms and position yourself advantageously before competition heats up. Don't wait—get prequalified and start your home search today. Act now to maximize your opportunities and savings.
It all starts with getting prequalified. At Blue Reef Mortgage, we're here to help you navigate this opportunity. Let’s work together to make your homeownership dreams a reality.
Blue Reef Mortgage is your local mortgage broker offering low in-market rates and personalized service.
NMLS 1428917
Don’t wait—let’s get you prequalified today!
December 6, 2024
In a survey by Freddie Mac, mortgage rates dip to their lowest level in over a month. Even with a slight decrease, the reaction from consumers has been significant, with a noticeable boost in purchase demand. This shows that even minor fluctuations in rates can have a big impact, highlighting the ongoing affordability challenges facing homebuyers.
According to Freddie Mac, this week, the 30-year fixed-rate decreased 0.12 basis points, bringing the U.S. weekly average to 6.69%. One year ago, the rate was 7.03%.
Homebuyers (Yes, you!) have a brief window to capitalize on today’s housing market. With mortgage rates relatively low and home prices poised to rise, now is the perfect time to act. Purchasing a home at current prices lets you lock in a lower cost. If mortgage rates later dip into the 5% range, refinancing could save you hundreds monthly. This strategy secures a favorable price now and sets the stage for future savings on mortgage payments. REMEMBER, when rates drop, there will be a buying frenzy. Waiting on the sidelines could price you out of the market. NOW IS THE TIME TO ACT!
It all starts with getting prequalified. At Blue Reef Mortgage, we're here to help you navigate this opportunity. Let’s work together to make your homeownership dreams a reality.
Blue Reef Mortgage is your local mortgage broker offering low in-market rates and personalized service.
NMLS 1428917
Don’t wait—let’s get you prequalified today!
November 21, 2024
Freddie Mac reports that mortgage rates have inched up again this week, nearing 7 percent. As we move into the holiday season, demand for home purchases remains sluggish. Despite a slight increase in the number of homes for sale, the high-interest rate environment is leading to a slowdown in new construction.
According to Freddie Mac, this week, the 30-year fixed-rate rose 0.07 basis points, bringing the U.S. weekly average to 6.84%. One year ago, the rate was 7.29%.
Despite upward movement in mortgage rates, it is still an excellent time to purchase or refinance a home in today's market. Blue Reef Mortgage offers exclusive products designed to help borrowers jump into homeownership. We provide programs with low or no downpayment options, making homeownership more accessible than ever. Additionally, our refinancing solutions allow borrowers to cash out up to 90% of home equity without the burden of Private Mortgage Insurance (PMI), potentially saving hundreds each month. These programs are tailored to meet borrowers' unique needs, helping secure a home or improve their financial situation with favorable terms. Contact Blue Reef Mortgage today to learn more about how we can assist in achieving homeownership dreams.
Blue Reef Mortgage is your local mortgage broker offering low in-market rates and personalized service.
Don’t wait—let’s get you prequalified today!
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!
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.
Equal Housing Opportunity
Copyright © 2025 Blue Reef Mortgage LLC - All Rights Reserved.
Blue Reef Mortgage LLC, NMLS 2600053 | Florida License MBR7238
We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.