The Rise of Temporary Mortgage Rate Buydowns & Impacts to the US Housing Market

Temporary mortgage rate buydown programs grew in popularity due to the rise in mortgage interest rates last year. This is a type of home loan program in which the homebuyer temporarily reduces their mortgage payment. For example, in a 2/1 rate buydown the interest rate during the first year is reduced by two percentage points. In the second year, it’s one percentage point less and then in the third year it goes back up to the full mortgage rate.

In today’s video, I share an article from Freddie Mac with an analysis of how much these types of home financing were used, the areas in which had the highest percentage of them and potential impacts to the US housing market from these mortgage buydowns such as the 2/1 buydown.

Enjoy! Subscribe, share and Like!

➜➜➜ Get Connected To a GREAT Real Estate Agent or Mortgage Advisor:
www.realestateteamfinder.com

Interested in buying or selling a home in the greater Sacramento area? Email me at: jason@meetjasonwalter.com

Compilation of Housing Market Forecast videos:

Source of reports I shared:
https://www.freddiemac.com/research/insight/20230731-temporary-mortgage-rate-buydown-activity-spiked-in

https://www.mortgagenewsdaily.com/mortgage-calculator

https://www.lennar.com/new-homes/california/central-california/promo/fnolen_lowrates_greatersavings

https://www.pulte.com/

https://www.taylormorrison.com/make-moves/sacramento

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 7.2% for the current mortgage rates (at the time of filming this video for those with excellent credit).

Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?
———————————————————————————-
Products I use and like: ad
My Gear I Use for YouTube: www.amazon.com/shop/jasonwalter
Tubebuddy https://www.tubebuddy.com/jason808
Virtual Assistants (video editing) https://bit.ly/3lYRujQ

***
Jason Walter, CPA (lic 103885)
Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
jason@meetjasonwalter.com

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜
To never miss a video about personal finance & real estate related topics, please subscribe & then hit the bell notification here ➜ https://bit.ly/31kAR73

➜ PLAYLIST: Videos about Living in Sacramento
https://bit.ly/2TkXZSh

Royalty Free Music from Bensound

Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video – it is for entertainment purposes only.

This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed real estate agent with Realty ONE Group Complete in California under DRE 01923240.

#mortgagerates #homeloans #mortgagebuydown