[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fl8qhv419jm0j":3,"$ffeh0925h8cuz":47,"$fbwk2pqjjqsc7":51},{"item":4,"previous":35,"next":41},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":33,"updatedAt":34},4166,"the-drop-in-mortgage-rates-brings-good-news-for-homebuyers","The Drop in Mortgage Rates Brings Good News for Homebuyers","Over the past few weeks, the average 30-year fixed mortgage rate from \u003Ca href=\"https:\u002F\u002Fwww.freddiemac.com\u002Fpmms\">\u003Cem>Freddie Mac\u003C\u002Fem>\u003C\u002Fa> fell by half a percent. The drop happened over concerns about a \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F07\u002F07\u002Fwhat-does-an-economic-slowdown-mean-for-the-housing-market\u002F\">potential recession\u003C\u002Fa>. And since mortgage rates have risen dramatically this year, \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F06\u002F08\u002Fwhat-are-the-best-options-for-todays-first-time-homebuyers\u002F\">homebuyers\u003C\u002Fa> across the country should see this decline as welcome news.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F07\u002F08140451\u002F20220711-KCM-Share.jpg","Over the past few weeks, the average 30-year fixed mortgage rate from \u003Ca href=\"https:\u002F\u002Fwww.freddiemac.com\u002Fpmms\">\u003Cem>Freddie Mac\u003C\u002Fem>\u003C\u002Fa> fell by half a percent. The drop happened over concerns about a \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F07\u002F07\u002Fwhat-does-an-economic-slowdown-mean-for-the-housing-market\u002F\">potential recession\u003C\u002Fa>. And since mortgage rates have risen dramatically this year, \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F06\u002F08\u002Fwhat-are-the-best-options-for-todays-first-time-homebuyers\u002F\">homebuyers\u003C\u002Fa> across the country should see this decline as welcome news.\u003C!--more-->\r\n\r\n\u003Cem>Freddie Mac\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.freddiemac.com\u002Fpmms\u002Farchive\">reports\u003C\u002Fa> that the average 30-year rate was down to 5.30% from 5.81% two weeks prior (\u003Cem>see graph below\u003C\u002Fem>):\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F07\u002F08140453\u002F20220711-MEM-Eng-1.png\">\u003Cimg class=\"aligncenter wp-image-46807\" src=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F07\u002F08140453\u002F20220711-MEM-Eng-1.png\" alt=\"The Drop in Mortgage Rates Brings Good News for Homebuyers | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\r\nBut why is this recent dip such good news for \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F06\u002F28\u002Fa-key-opportunity-for-homebuyers\u002F\">homebuyers\u003C\u002Fa>? As Nadia Evangelou, Senior Economist and Director of Forecasting at the\u003Cem> National Association of Realtors \u003C\u002Fem>(NAR), \u003Ca href=\"https:\u002F\u002Fwww.instagram.com\u002Fp\u002FCft5YXTO5UR\u002F?hl=en\">explains\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“According to Freddie Mac, the 30-year fixed mortgage rate dropped sharply by 40 basis points to 5.3 percent. . . . \u003Cstrong>As a result, home buying is about 5 percent more affordable than a week ago. This translates to about $100 less every month on a mortgage payment.\u003C\u002Fstrong>”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nThat’s because when rates go up (as they have for the majority of this year), they impact how much you’ll pay in your monthly mortgage payment, which directly affects how much you can comfortably afford. The inverse is also true. \u003Cstrong>A decrease in mortgage rates means an increase in your purchasing power. \u003C\u002Fstrong>\r\n\r\nThe chart below shows how a half-point, or even a quarter-point, change in mortgage rates can impact your monthly payment:\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F07\u002F08145538\u002F20220711-MEM-Eng-02.png\">\u003Cimg class=\"aligncenter wp-image-46812\" src=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F07\u002F08145538\u002F20220711-MEM-Eng-02.png\" alt=\"The Drop in Mortgage Rates Brings Good News for Homebuyers | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf your home doesn’t meet your needs, this may be the opportunity you’ve been waiting for. Let’s connect to see how you can benefit from the current drop in mortgage rates.","\r\nIf your home doesn’t meet your needs, this may be the opportunity you’ve been waiting for. Let’s connect to see how you can benefit from the current drop in mortgage rates.","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F07\u002F08140453\u002F20220711-MEM-Eng-1.png",false,[17,21,25,29],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},11,"First-Time Buyers","first-time-buyers",{"id":26,"name":27,"slug":28},35,"Mortgage Rates","mortgage-rates",{"id":30,"name":31,"slug":32},38,"Move-Up","move-up","2022-07-11T10:00:10Z","2023-02-03T15:34:07Z",{"id":36,"slug":37,"title":38,"featuredImage":39,"publishedAt":40,"contentType":10,"isVideo":15},4163,"why-growing-home-equity-is-great-news-if-you-plan-to-move-infographic","Why Growing Home Equity Is Great News if You Plan To Move [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F07\u002F07152601\u002F20220708-KCM-Share.png","2022-07-08T10:00:07Z",{"id":42,"slug":43,"title":44,"featuredImage":45,"publishedAt":46,"contentType":10,"isVideo":15},4165,"expert-housing-market-forecasts-for-the-second-half-of-the-year","Expert Housing Market Forecasts for the Second Half of the Year","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F07\u002F08111535\u002F20220712-KCM-Share.jpg","2022-07-12T10:00:15Z",{"cover":48,"open":49,"shareSpread":50},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[52,56,57,61,65,69,73,74,78,79,80,84,88,92,96,100,104,108,112,116,120,124,128,132,136,140,144,148,152,156],{"id":53,"name":54,"slug":55},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":58,"name":59,"slug":60},6,"For Sellers","sellers",{"id":62,"name":63,"slug":64},7,"Foreclosures","foreclosures",{"id":66,"name":67,"slug":68},8,"Infographics","infographics",{"id":70,"name":71,"slug":72},9,"Home Prices","home-prices",{"id":22,"name":23,"slug":24},{"id":75,"name":76,"slug":77},34,"Senior Market","senior-market",{"id":26,"name":27,"slug":28},{"id":30,"name":31,"slug":32},{"id":81,"name":82,"slug":83},41,"For Sale by Owner","for-sale-by-owner",{"id":85,"name":86,"slug":87},42,"Featured","featured",{"id":89,"name":90,"slug":91},45,"New Construction","new-construction",{"id":93,"name":94,"slug":95},52,"Luxury \u002F Vacation","luxury--vacation",{"id":97,"name":98,"slug":99},53,"Rent vs. Buy","rent-vs-buy",{"id":101,"name":102,"slug":103},80,"Time-sensitive","time-sensitive",{"id":105,"name":106,"slug":107},81,"Outdated","outdated",{"id":109,"name":110,"slug":111},147,"Internal","internal",{"id":113,"name":114,"slug":115},148,"Do Not Autopost","do-not-autopost",{"id":117,"name":118,"slug":119},320,"Inventory","inventory",{"id":121,"name":122,"slug":123},321,"Agent Value","agent-value",{"id":125,"name":126,"slug":127},322,"Affordability","affordability",{"id":129,"name":130,"slug":131},323,"Buying Tips","buying-tips",{"id":133,"name":134,"slug":135},324,"Downsize","downsize",{"id":137,"name":138,"slug":139},325,"Economy","economy",{"id":141,"name":142,"slug":143},326,"Equity","equity",{"id":145,"name":146,"slug":147},327,"Forecasts","forecasts",{"id":149,"name":150,"slug":151},328,"Selling Tips","selling-tips",{"id":153,"name":154,"slug":155},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":157,"name":158,"slug":159},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]