Mortgage Update: February 2

More Great News for Buyers

It's one day after the Fed interest rate hike, which was the expected quarter of a percent. Remember, the Fed's raising of short-term rates does not directly impact long-term rates, such as mortgage rates (15, 20, 30-year mortgages). What it has done, though, in anticipation of these rate hikes that have been coming, is help the decrease of long-term rates of 15, 20 and 30-year rates.

This is great news for home buyers. 30-year fixed rates as of today are solidly in the high 5s. We haven't seen that rate in quite some time. Buyers, make sure you are preparing yourself to buy now in anticipation of that home of your dreams coming on the market. We can help with a pre-approval. 

Our service, our rates and our fees are extremely good! In 2022, an average of 94% of our clients would refer our services to their family and friends.* When working with our team, you'll receive personalized attention and we'll do everything possible to make it a great experience for you.

We’re here to help! Email mortgages@johnadamsmortgage.com.

*Based on the Listen 360 Feedback Net Promoter Score