Newz: Appraiser Humor, Mortgage Rate Changes, New GSE Time Analysis
January 3, 2025
What’s in This Newsletter (In Order, Scroll Down)
- LIA – Code Violations and Expertise
- Mortgage Rate History Since 1971 What about 2025?
- Hurricane-Proof $600K Dome Home on Florida’s Space Coast
- Lyle Radke of Fannie Mae with George Dell, SRA, MAI, ASA, CRE to discuss upcoming changes by the GSEs on Time Analysis
- Backers of most U.S. mortgages (GSEs) have done little about climate risks
- Top Ten Reasons Why It Is Great to be an Appraiser – Humor
- Mortgage applications decreased 21.9 percent from two weeks earlier
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Mortgage Rate History Since 1971 What about 2025?
Excerpts: For many homebuyers, the last few years have felt like a perfect storm of challenges—soaring home prices and climbing mortgage rates colliding to limit affordability. It’s left many wondering if 2025 will finally calm the waters. Will rates dip low enough to bring some relief, or is another wave of increases on the horizon? While there’s no magic compass to navigate these market shifts, a look back at mortgage rate history can offer clues—and maybe even some hope for those waiting to make their move.
Despite the Federal Reserve’s 25-basis-point rate cut in November, mortgage rates have remained in the high 6% range, offering limited relief to borrowers. However, optimism persists in the market as many believe rates could continue to ease in the months ahead, potentially sparking renewed interest among buyers and homeowners.
While the history of mortgage rates provides valuable context, it’s important to recognize that average mortgage rates are just a benchmark. Borrowers with healthy credit profiles and strong finances often get mortgage rates well below the industry norm.
Current rates are more than double their all-time low of 2.65% (reached in January 2021). But if we take a step back and look at the history of mortgage rates, they’re still close to the historic average since 1971 of 7.73%
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