How Upset Should you be about 3% Mortgage Rates?

Last Thursday, Freddie Mac announced that their 30-year fixed mortgage rate was over 3% (3.02%) for the first time since last July. That news dominated real estate headlines that day and the next. Articles talked about the “negative impact” it may have on the housing market. However, we should realize two things:

1. The bump-up in rate should not have surprised anyone. Many had already projected that rates would rise slightly as we proceeded through the year.

2. Freddie Mac’s comments about the rate increase were not alarming:

“The rise in mortgage rates over the next couple of months is likely to be more muted in comparison to the last few weeks, and we expect a strong spring sales season.”

A “muted” rise in rates will not sink the real estate market, and most experts agree that it will be a strong spring sales season.”

What does this mean for you?

How Upset Should You Be about 3% Mortgage Rates? | MyKCM

Obviously, any buyer would rather mortgage rates not rise at all, as any upward movement increases their monthly mortgage payment. However, let’s put a 3.02% rate into perspective. Here are the Freddie Mac annual mortgage rates for the last five years:

  • 2016: 3.65%
  • 2017: 3.99%
  • 2018: 4.54%
  • 2019: 3.94%
  • 2020: 3.11%

Though 3.02% is not as great as the sub-3% rates we saw over the previous seven weeks, it’s still very close to the all-time low (2.66% in December 2020).

And, if we expand our look at mortgage rates to consider the last 50 years, we can see that today’s rate is truly outstanding. Here are the rates over the last five decades:

  • 1970s: 8.86%
  • 1980s: 12.7%
  • 1990s: 8.12%
  • 2000s: 6.29%
  • 2010s: 4.09%

Being upset that you missed the “best mortgage rate ever” is understandable. However, buying now still makes more sense than waiting, especially if rates continue to bump up this year.

Bottom Line

It’s true that you may not get the same rate you would have five weeks ago. However, you will get a better rate than what was possible at almost any other point in history. Let’s connect today so we can plan your home search and allow you to lock in a great rate while they remain this low.

It is my true pleasure to  work hard for my clients and your referrals throughout Massachusetts, Rhode Island, and Cape Cod.  Please let me know what questions you may have and how I can be of the best assistance to you.

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA, RI, and Cape Cod & Islands Licensed Real Estate Sales Associate
New Homes Team Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor
real people. real estate. 

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Serving clients throughout Massachusetts, Rhode Island, and Cape Cod & the Islands.

Boston – Attleboro – Providence – Cape Cod … and the Communities in between.

How Smart Is It to Buy a Home Today?

Whether you’re buying your first home or selling your current house, if your needs are changing and you think it could be time for a move, the decision can definitely feel complicated (and overwhelming).. You need to take personal and professional considerations into account, and only you can judge what impact those factors should have on your desire to move.

However, there’s one category that does provide a simple answer. When deciding to buy now or wait until next year, the financial aspect of the purchase is easy to evaluate. You just need to ask yourself two questions:

  1. Do I think home values will be higher a year from now?
  2. Do I think mortgage rates will be higher a year from now?
How Smart Is It to Buy a Home Today? | MyKCM

From a purely financial standpoint, if the answer is ‘yes’ to either question, you should strongly consider buying now. If the answer to both questions is ‘yes,’ you should definitely buy now.

Nobody can guarantee what home values or mortgage rates will be by the end of this year. The experts, however, seem certain the answer to both questions above is a resounding ‘yes.’ Mortgage rates are expected to rise and home values are expected to appreciate rather nicely.

What does this mean to you?

Let’s look at how waiting would impact your financial situation. Here are the assumptions made for this example:

  • The experts are right – mortgage rates will be 3.18% at the end of the year
  • The experts are right – home values will appreciate by 5.9%
  • You want to buy a home valued at $350,000 today
  • You decide on a 10% down payment
How Smart Is It to Buy a Home Today? | MyKCM

Here’s the financial impact of waiting:

  • You pay an extra $20,650 for the house
  • You need an additional $2,065 for a down payment
  • You pay an extra $116/month in your mortgage payment ($1,392 additional per year)
  • You don’t gain the $20,650 increase in wealth through equity build-up

Bottom Line

There are many things to consider when buying a home. However, when simplifying to a purely financial question, if you find a home that meets your needs, buying now makes much more sense than buying next year. Please reach feel free to reach out by e-mail jen.mcmorran@gmail.com, call/text 508-930-5259, or message me below. I am always happy to be a resource to you or anyone you may know that may be in need of some experienced real estate guidance. Hope all is well!!

It is my true pleasure to  work hard for my clients and your referrals throughout Massachusetts, Rhode Island, and Cape Cod.  Please let me know what questions you may have and how I can be of the best assistance to you.

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA, RI, and Cape Cod & Islands Licensed Real Estate Sales Associate
New Homes Team Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor
real people. real estate. 

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Serving clients throughout Massachusetts, Rhode Island, and Cape Cod & the Islands.

Boston – Attleboro – Providence – Cape Cod … and the Communities in between.

Home Buyers Guide Spring 2020

Despite so many uncertainties as we learn to live with Covid-19, there oddly hasn’t been a better time to buy a home in recent history with mortgage interest rates hovering at all time lows. For a Home Buying Guide packed with information, please click below then give me a call or send me a message and let’s set up time to connect and get you started on right path to homeownership.

As a committed full-time real estate agent, I have helped hundreds of buyers and sellers… it would be a pleasure to help you too.

Whether you have tons of questions or don’t even know the questions to ask, I am ready to work with you through the entire process.


It is my true pleasure to  work hard for my clients and your referrals throughout Massachusetts and Rhode Island.  Please let me know what questions you may have and how I can be of the best assistance to you.

SUBMIT

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Associate
New Homes Team
Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real people. real estate. 

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Serving clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.

Mortgage Interest Rates at Five Decade Low!

What you do today can improve all your tomorrows.      –Ralph Marston

With mortgage interest rates hovering at near historic lows, now is a great time to look back at where rates have been to truly appreciate where rates are now.

Mortgage rates are now averaging around 3.5%  – they are hovering near a five decade low.  That is right – a five decade low.   And buyers are ready to take advantage of that with mortgage applications up 15% over a year ago.   This is shaping up to be an early and strong spring real estate market in Massachusetts and Rhode Island with mild weather continuing and eager buyers ready to find their next home sooner than later. Interest rates over time

Give a call 508-930-5259 or send an e-mail jen.mcmorran@gmail.com  if you’d like to discuss how now might be the time for you to start your home search.  My team is ready to support and guide you every step of the way from getting pre-approved for your mortgage, finding a home, negotiating an offer, securing a qualified home inspector, and hiring an attorney to review your contracts and coordinate your closings.

Without a doubt, capitalizing on current mortgage interest rates to purchase a home today will absolutely pay off for you as a homeowner tomorrow.  The impact your interest rate has on your monthly mortgage payment can be significant.  Let’s see how we can make current real estate and mortgage market conditions work for you!

It is my true pleasure to  work hard for my clients and your referrals throughout Massachusetts and Rhode Island.  Please let me know what questions you may have and how I can be of the best assistance to you.

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Associate
New Homes Team
Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real people. real estate. 

Best 5 Icon LogoServing clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.

You can own a home!!

Are you wondering if buying a home is a possibility for you?

Do you dream of personalizing a home to your own tastes and lifestyle?

Are you tired of paying your landlord’s mortgage and being limited their rules?

Being a first time home buyer is very exciting – and a little bit scary for some :), but I have an awesome team of experienced professionals who can help get you ready and guide you through the entire process.   I am just a call, an e-mail, or a click away to start your home search so let’s find time to chat about your needs, your wants, and your budget.  In the meantime, here are 3 Tips for Making Your Dream of Homeownership come true…Making Your Dream of Homeownership a Reality

First Time Home Buyers are one of my specialties and I have many satisfied “first timers” who made it through the process.  Happy to make a connection if you’d like to talk with someone who has recently been through a complete transaction from searching on-line to getting their keys at the closing table.  And as they will all attest to, I have lots of stories to share from my vast experience in real estate over the past 20+ years 🙂  Every deal seems to have its own nuances these days, but be assured, I have a solid reputation in the real estate industry, I always have an eye on the big picture while working through the little details, and I am committed to the goals of my buyers and sellers.

 Always happy to be of any assistance to you or anyone you know who is thinking about buying or selling a home. I love to work hard for my clients and your referrals throughout Massachusetts and Rhode Island.

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Associate
Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

results that move you.

Best 5 Icon LogoServing clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.

Why own a home?

Are you thinking it is time to make the move into to homeownership?
Helping buyers purchase the right home is what I do.
Put my extensive experience as a real estate professional in local residential home sales to work for you!  Just give a call 508-930-5259 or an e-mail jen.mcmorran@gmail.com.
Homeownership-Month-STM-ENG-791x1024 (1)

Not sure where to start?  First Time Home Buyers are one of my specialties.  I have the patience, knowledge, and the right team of professionals to guide you through the entire process.  I surround myself with professionals who understand that as a First Time Home Buyer you are going to have questions, you are going to be getting advice (good and bad) from family and friends,  and that you aren’t even going to know enough about some parts of the transaction to know you should be asking questions.  That is when we make the biggest difference for you.  We aren’t just about numbers and deals… we are about working with people to assist them in making the best decisions they can when it comes to their upcoming homeownership move.

When you make the choice to work with me, you will also have the opportunity to work with some of the best mortgage officers, home inspectors, attorneys, and contractors around.  We have a track record of respect in the industry and success in reaching our clients’ home ownership goals.  The best part … we are ready now to work hard for you!

Always a pleasure to be of any assistance to you or anyone you know who is thinking about buying or selling a home. I love to work hard for my clients and your referrals throughout Massachusetts and Rhode Island.

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Assocate
Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real estate for real people.

Serving clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.

Homes Fur Sale

WatsonEvery day is “Puppy Day” in my world 🙂  but I really did enjoy people celebrating their furry friends on Facebook last week during “Happy Puppy Day”.

So I am sending out a big “Hello” to some of my favorite furry friends I have had the pleasure of meeting, hanging out with, walking with, and talking with these past few years in real estate. I know these special pups make a difference in your days and I want you to know they make a difference in my day too! Nothing like a little pet therapy in the middle of a crazy day of offers, negotiations, home inspections, attorneys, mortgages, closing, etc to make everything feel OK again 🙂

 

And please know when it comes to listing and selling your home, if you have pets, their safety and well-being are my first priority.  I understand what an important part of a family these awesome dogs are. We will work together on figuring out the best plan for them whether it is grouping showings so you can have them with you for more condensed periods of time, finding a dog walker, making them a comfy home in the corner, having a teammate with me on showings and open houses … whatever it takes.  When we list your home “fur sale” your favorites friends will not be forgotten.

And in case you or your wonderful pups are looking for a new fur-ever home, as always, I am at your service happy to help in anyway I can.  Once again, the Spring market is here with low inventory and high buyer demand.   Buyers are looking for neat, clean, fresh looking spaces that have been well maintained.  Curious what your home would be worth in today’s market?  Wondering what work should be done to attract the best buyers? Just give a call 508-930-5259 or send an e-mail jen.mcmorran@gmail.com  … I’d love to chat with you whether you are planning a move soon or planning for the future.

Hope you had a very “Happy Puppy Day”!!

Always a pleasure to be of any assistance to you or anyone you know who is thinking about buying or selling a home. I love to work hard for my clients and their referrals throughout Massachusetts and Rhode Island.

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Assocate
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real estate for real people.

Serving clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.

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Seniors Real Estate Specialist – I am at Your Service!

 As I look forward to another successful year serving all of my clients and referrals, I am so pleased to announce my most recent accomplishment…    

Jennifer McMorran Earns NAR Designation in Seniors Real Estate

Head shot Jen McMorranAttleboro, MA, January 2018 – — Jennifer McMorran with Kensington Real Estate Brokerage has earned the nationally recognized Seniors Real Estate Specialist® designation from the Seniors Real Estate Specialist Council of the National Association of Realtors®.

McMorran joins more than 15,000 real estate professionals in North America who have earned the SRES® designation.  All were required to successfully complete a comprehensive course in understanding the needs, considerations, and goals of real estate buyers and sellers aged 55 and older.

Working with seniors to meet their housing needs requires an expert understanding of their unique lifestyle and financial needs, and the SRES® designation means that a Realtor® has that understanding. Whether they are buying, selling relocating or refinancing, seniors can be confident that Jennifer McMorran, a Realtor® designated SRES®, will be able to help them every step of the way.  As one of the Attleboro area’s top producing Realtors®, she enjoys growing both personally and professionally through each transaction and is eager to put her knowledge and experience to work for her clients and referrals.

Jennifer McMorran is a successful Real Estate Sales Associate with Kensington Real Estate Brokerage.  Licensed in both Massachusetts and Rhode Island, she enjoys serving clients anywhere from Providence to Boston.  She has a true passion for mentoring First Time Home Buyers, guiding clients through New Construction, assisting Seniors in their housing decisions, and partnering with Sellers to get their homes sold.

SRES® Council, founded in 2007, is the world’s largest association of real estate professionals focusing specifically on representing senior clients in real estate transactions. There are more than 15,000 active members of the organization world-wide.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.1 million members involved in all aspects of the residential and commercial real estate industries.

For more information, visit SRES.org.

# # #

If I can ever be of any assistance to you, your friends, or your family with any real estate needs,  just to give a call/text 508-930-5259
or e-mail jen.mcmorran@gmail.com.   

I am at your service…

Affordable First Home to Make Your Own!!

Are you looking for an affordable home that you can make your own while mortgage rates remain low?  Love the idea of being just blocks from the train station for easy commutes to Boston or Providence?  How about being just a short stroll from amazing restaurants and pubs?  Or close to the YCMA for your daily workouts,  a relaxing swim, fun classes for kids, or getting together with other community members? Or do you enjoy hanging out at the library curled up with a good  book?

IMG_0999Well, if you make 128 Union Street in Attleboro your next home, you can have all of that to enjoy!


Very accommodating sellers … Easy to show by appointment!

128 Union Street, Attleboro
NOW $214,900

IMG_1004Tucked away off of Union Street down a shared driveway you’ll find a solid 3 bedroom Colonial full of charm and potential AND a HUGE private backyard.  This truly is a little gem of a property!    Located just blocks from Attleboro’s vibrant downtown,  you will enjoy a newer roof, windows, driveway, and shed.  Great space includes an eat-in kitchen, good sized family room, a living room, and spacious full bath on the main level and three bedrooms on the second level.   Hardwood floors throughout almost the whole home except for tiled kitchen and carpeted living room.  The fenced backyard is perfect for outdoor gatherings with friends and family with plenty of space for relaxing, entertaining, and playing.

Stop by the Open House on Saturday or let’s schedule a private showing.  Sellers are great to work with and usually just need a little notice.  Please feel free to contact me by phone 508-930-5259, text , e-mail jen.mcmorran@gmail.com, or simply fill out the form below.

And if I can ever be of any assistance to you or anyone you know who is thinking about buying or selling a home, please be in touch.  I love to work hard for my clients and their referrals throughout Massachusetts and Rhode Island.

Jen McMorran, Realtor

Jennifer McMorran, Realtor
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Assocate
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real estate for real people.

Serving clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.

Kensington - Jen McMorran

 

Don’t be scared… get the facts!

Jen McMorran, RealtorMortgages and the home buying process continually evolve and change to meet the needs of the ever changing consumer, adjust to the state of over all economy, and facilitate a strong housing market without becoming irresponsible again.

So, “No”, it is not like when your parents bought a home 20 years ago or even when you friend bought a home 5 years ago.  But knowledge is power.   As long as you know the facts, you too can be on the path to home ownership which most financial advisors still believe is one of the best long term investments you can make with your money.don't be scared to buy a home
Infographic, Keeping Current Matters, October 2017

And of course, educating and sharing the facts is one of my favorite roles as a real estate agent.  Whether I am working with first time home buyers, move-up buyers, empty-nesters, or retirees … the entire transaction moves along smoother when we take as much of the uncertainty and fear out of the process as we can.

Did you know that there are still 0% down payment mortgage programs, 3.5% down payment mortgage programs, and then of course 10%, 20% …  The key is to work with a mortgage professional who will talk you through all of your options.

Did you know you don’t have to have a perfect credit score to qualify?

Did you realized that buying a home can ultimately be less expensive than renting?

Steph and Derrick SoldRemember until you discuss your current situation and goals with a mortgage and real estate professional, you may not have all of the facts.  I am always available as a resource to you, your friends, co-workers, family members… feel free to call, text, 508-930-5259 or e-mail jen.mcmorran@gmail.com any time!!  I only recommend the best when it comes to mortgage professionals, attorneys, home inspectors, etc. as they are essential to successful transactions.  Again, please do not hesitate to reach out if you are in need of a referral or just trying to figure how to start the process.   It’s what I do… share information to help buyers and sellers meet their goals.

Jen McMorran, Realtor

Jennifer McMorran, Realtor
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Assocate
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real estate for real people.

Serving clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.

Kensington - Jen McMorran