SOUTHFIELD, Mich., Jan. 17, 2019 (GLOBE NEWSWIRE) -- Activity in the home purchase market is very steady and home mortgage rates seem to have stabilized says Harry J. Glanz of Capital Mortgage Funding, based in Southfield, MI. “Rates for a 30 year fixed-rate mortgage are actually at 9 month lows," says Glanz, "and buyers are ready, willing and able to snap up home listings that are in move in condition.” Currently, rates on a 30 year fixed-rate mortgage are ranging between 4.5-5% and 15 year fixed rates range from 4.125-4.5%.
With interest rates in their current range and the Federal Reserve’s uncertainty on future rate hikes for 2019 the home purchase market environment will remain active. However Glanz reminds “from 2012-2018 we experienced a resurgence in home buying and increased property values while rates plunged to historic lows, contributing to a 7 year sellers’ market.” 2019 will see activity return to more moderate levels, with home prices stabilizing, and rates forecasted to be in the low to mid 5% range.
Glanz, a 30 year industry veteran, states that if the Federal Reserve continues a course of raising rates 2 to 3 times throughout 2019 this could move rates to the 5.25-5.75% range on the 30 year, still very low from the historical perspective.
Celebrating over 27 years of Five-Star Lending Service Excellence, award-winning and nationally recognized Capital Mortgage Funding offers a wide variety of loan programs, including but not limited to Conventional, FHA, VA, USDA/RD, & Jumbo financing. The company also offers clients the best in customized personal services. For more information, call 248-LOW-RATE or go online to www.lowrateonline.com. Capital Mortgage Funding is Powered by Fairway Independent Mortgage Corporation, a Nationally Ranked Top 5 Mortgage Lender, and is recognized by the Detroit Free Press as a Top Workplace, Detroit Crain’s Coolest Places to Work, and Metro Detroit’s Best & Brightest Workplaces.
CMF is located at 17170 W. Twelve Mile Rd, Southfield, MI 48076. NMLS#2289.
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Harry Glanz is available for interviews on this subject of the Mortgage Lending, and Mortgage industry topics.
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