Surprising Perspective On Todays St Cloud Mortgage Rates

Surprising Perspective On Todays St Cloud Mortgage Rates

 Last Wednesday and Thursday’s stock market nosedive had analysts debating whether the Fed’s hike in interest rates was to blame. Since St. Cloud mortgage rates are likely to also be affected, local selling-minded homeowners might well have begun to wonder whether we are headed into a less-than-favorable selling environment.

If so, would listing your home now make sense? Would holding out until lower St. Cloud mortgage rates reappear be worth the wait? The benefit to potential buyers would be immediate: more affordable monthly payments for the same asking price.

Ultimately, the answer to that timing question will always be uncertain, but one clue can be found in the history of mortgage rates in recent decades. According to the Freddie Mac’s mortgage rate archive, that history leads to an unambiguous conclusion:

 30-YEAR MORTGAGE INTEREST RATE AVERAGES

2000s:  6.29%

1990s: 8.12%

1980s: 12.7%

1970s: 8.86%

Putting it all together, the previous 40 years produced average mortgage interest rates just shy of double digits: 9.9%, to be precise! Even after the latest Federal Reserve action, last week’s national 30-year rate “jump” was to only 4.9%. With St. Cloud mortgage interest rates currently at less than half of what U.S. home buyers have been willing to pay in past eras, it turns out that we are still in the midst of a decidedly friendly environment for buyers—which makes it seller-friendly territory, too.

There can be many reasons why a homeowner may decide to put off listing their home, but today’s St. Cloud mortgage rates shouldn’t be one of them. I’m happy to offer a no-obligation rundown on the outlook for this fall’s market—and how your property might fit into that picture. Call me if you’d like to chat!

      

Five Locations To Serve You!!! 

St. Cloud (320) 259-4554

Litchfield (320) 298-1140

Hutchinson (320) 455-9127

Maple Grove (763) 565-2000

Princeton (320) 983-3555

Image result for mortgage


Noel Johnson Headshot
Author:
Phone: 320-980-3100
Dated: October 15th 2018
Views: 21
About Noel: Passion for investing in real estate brought me to create Premier Real Estate Services in 2002. Ten ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Jason Quade
550 25th Avenue North
St. Cloud, MN
320-980-1022


Other Locations