Why Experts Say Mortgage Rates Should Ease Over the Next Year
If you’re keeping an eye on the housing market, you’ve probably noticed that mortgage rates have started to ease slightly. But will this trend continue into next year? According to industry experts, there’s a good chance we’ll see further relief ahead. Let’s break down why.

The Connection Between Mortgage Rates and the 10-Year Treasury Yield
For more than 50 years, the 30-year fixed mortgage rate has closely tracked the movement of the 10-year Treasury yield — a key benchmark for long-term interest rates.
When the Treasury yield rises, mortgage rates typically follow. When it falls, mortgage rates tend to drop as well.
The relationship between these two numbers is known as the spread, which normally averages around 1.76 percentage points (or 176 basis points).

Why the Spread Matters
Over the past few years, that spread has been much wider than usual. Why? Economic uncertainty.
; ...

For the past couple of years, it’s been tough for a lot of homebuyers to make the numbers work. Home prices shot up. Mortgage rates too. And a number of people hit pause because it just didn’t feel possible. Maybe you were one of them.
But there’s some encouraging news. If you’ve been waiting for a better time to jump back in, affordability may finally be showing signs of improvement this fall.
The latest data from Redfin shows the typical monthly mortgage payment has been coming down, and is now about $290 lower than it was just a few months ago (see graph below):
And here’s why this is happening. The cost of buying a home really comes down to three things:

Mortgage rates
Home prices
Your wages

Right now, all three are finally moving in a better direction for you. While that doesn’t mean it’s suddenly easy to buy at today’s rates and prices, it does mean it’s not as challenging.
1. Mortgage Ra ...

You may be seeing headlines about how foreclosures are rising. And if that makes you nervous that we’re headed for another crash, here’s what you should know. 
According to ATTOM, during the housing crash, over nine million people went through some sort of distressed sale (2007-2011). Last year, there were just over 300,000.
So, even with the increase lately, we’re talking about numbers that are dramatically lower. But what does the future hold? Is a wave coming? The short answer is, no.
Here’s why. Experts in the industry look at mortgage delinquencies (loans that are more than 30 days past due) as an early sign for potential foreclosures down the line. And the latest data for delinquencies is reassuring about the market overall.
Right now, delinquencies as a whole are consistent with where we ended last year, which means we’re not seeing the kind of increase that would signal widespread trouble.
But there are some key indicat ...

It involves a lender evaluating your financial situation to determine the amount of money they are willing to lend you for a mortgage. This pre-approval gives you a clear idea of your budget when house hunting and also demonstrates to sellers that you are a serious buyer. 
Here’s an overview of the pre-approval process:
Gather Your Financial Documents:
You’ll need to provide documentation that proves your financial stability. This typically includes> Proof of identity (driver’s license, passport, etc.).> Proof of income (pay stubs, W-2 forms, tax returns) for the past couple of years.> Proof of assets (bank statements, retirement account statements).> Proof of employment (employer contact information, recent pay stubs).> Information about your debts (credit card statements, loans).
Choose a Lender:
Research and select a reputable lender or mortgage broker to work with. You can choose to go through a traditional bank, credit union, or online mo! ...

Sellers: Don’t Let These Two Things Hold You Back

Many homeowners thinking about selling have two key things holding them back. That’s feeling locked in by today’s higher mortgage rates and worrying they won’t be able to find something to buy while supply is so low. Let’s dive into each challenge and give you some helpful advice on how to overcome these obstacles.
https://hmbt.co/Ka3XZP

Challenge #1: The Reluctance to Take on a Higher Mortgage Rate

According to the Federal Housing Finance Agency (FHFA), the average interest rate for current homeowners with mortgages is less than 4% (see graph below):

But today, the typical 30-year fixed mortgage rate offered to buyers is closer to 7%. As a result, many homeowners are opting to stay put instead of moving to another home with a higher borrowing cost. This is a situation known as the mortgage rate lock-in effect.
https://hmbt.co/Ka3XZP

The Advice: P ...