Call

(404) 436-0013

Email

[email protected]

Schedule a Call

calendly.com/holly-walther-lending-team/call

Application

successexpress.app/apply/Holly_Walther_507972

Add To Contacts

Download vCard

  

Friday Market Update: Navigating the Housing Market: Rates, Affordability, and Opportunities

Happy Friday!
As we navigate the twists and turns of 2023, mortgage rates have reached a new multi-decade high, with the 30-year fixed rate surpassing 8.00%, landing at 8.12%. The news feeds are filled with these figures, leading many potential buyers and sellers to postpone their plans until rates stabilize.
While waiting may seem like the safest option, it’s crucial to recognize the unique opportunities that today’s market presents. Addressing the affordability concern is the key to unlocking these opportunities.
Over the past few months, I’ve discussed the advantages of permanent and temporary buydowns as a solution to today’s affordability challenges. These options are now more relevant than ever.
So, let’s give you a real-life example to see, providing clients with the potential to reduce their interest rates for up to three years from the date of purchase. (See buydown image below)
Consider a client interested in purchasing a $750k home with a 20% down payment. The original mortgage rate of 8.125% would result in a monthly principal and interest payment exceeding $4,400. However, by utilizing the temporary buydown, the client was able to reduce their monthly payment by over $1188 in the first year, $809 in the second year, and $412 in the third year, ultimately saving over $28,900 in payments over the first three years. This option not only gave the client the confidence to proceed with the purchase but also benefited the seller, who retained an additional funds in net proceeds, as the client’s initial offer was significantly below the listing price.
By addressing affordability head-on, we can provide buyers with the peace of mind that comes with reduced payments over the next three years, giving rates ample time to decrease and positioning them for a future refinance. This strategy also avoids the potential pitfalls of waiting for rates to drop, which could result in higher home prices due to increased demand.
Yes, rates are far from ideal, but people still need to buy homes, and others need to sell. Armed with this information, we can offer invaluable support to our clients, ensuring their success in today’s challenging market. As always, we are here to assist you in communicating this message to your clients.
Wishing you a fantastic day ahead!
Holly

Reviews

"This team was very quick to respond on a time constraint deadline. They were very thorough and detailed with the process and interaction with buyers. I highly recommend using the Holly Walther Lending Team."

kim dionne

"I recently had the pleasure of working with the Holly Walther Lending Team, and I am delighted to share my experience. From start to finish, Holly and her team demonstrated exceptional professionalism and dedication in helping me close on a house. The advanced features and user-friendly design of their website made the entire process seamless and efficient. A special mention goes to Erika, whose expertise and attention to detail as a loan processor were invaluable. She ensured that every step was handled promptly and accurately, providing me with peace of mind throughout the journey. I highly recommend the Holly Walther Lending Team to anyone seeking a reliable and knowledgeable mortgage broker. Their commitment to excellent customer service and innovative solutions truly sets them apart. Thank you, Holly, EriKa, and the entire team, for making my home buying experience a positive and memorable one!"

ali boostani

"Quite simply the best Mortgage experience that I have ever had. So professional, secure, and expeditious. I would give 10 Stars if I was able."

james coyle

"The best experience we could have imagined with buying our first home. We were constantly checked on and updated on our progress throughout the entire process. Our seller said it was the smoothest and fasted closing process he has ever seen."

jensen

"Frankly, I can't say enough good things about Holly's team and our experience with them. They were so helpful in walking us through all the steps of the mortgage process and very diligent with getting our loan processed on time. Everyone I worked with was highly responsive to all of our questions, even outside of normal business hours. If you are a first-time home buyer looking for a lender that will set you up for success, look no further."

john demoor

"My realtor recommended me Holly Walther's Lending Team, and I am so glad they did. As a first time home buyer, obtaining a loan can be a daunting task. Virginia from the Holly Walther Lending Team helped alleviate a lot of that fear and uncertainty by going over everything in detail. They always responded in a timely manner to any questions I had and were more than willing to accommodate any requests that was asked of them such as receiving an updated cost analysis. Working with Holly's team, I felt more like an actual person rather than just another number. I would highly recommend Holly Walther's lending team to anyone looking and will definitely be using them for any future loans."

brian

"Loved all the communication emails updating me along the way to closing."

keely george

"Great communication-easy to work with....highly recommend."

donna benson-todd

"Our experience working with the Holly Walther team was exceptional. They provided a very personalized service which is very rare these days and made the entire process easy and enjoyable. The team was always available and extremely helpful in answering any of our questions and provided constant communication on the status of the loan process."

craig yearous