Mortgage Rates - What’s in Store for Ponte Vedra Beach Mortgages?

Posted on by Lisa Barton in Buying Tips, Real Estate News

Most home sales in Ponte Vedra Beach make use of a conventional or jumbo mortgage. We asked our favorite loan officer for insight into what to expect next year for mortgage rates. Here's what he had to say:

Forecasts for mortgage interest rates for 2019 and beyond are all over the map. Ranging from an expectation of between 5.3% and 6% by year end 2019 all the charts agree on one thing - mortgage rates will continue to rise through the next two years! At this time last year, the professional forecasters were predicting that rates would be between 4.375% and 4.75% by year end 2018; however most lenders actually tipped over the 5% rate this past week for the traditional 30 year mortgage.

So, from a recent historical perspective, rates at year end last year were in the 3.75% to 4% range, the first time 4% was achieved consistently in several years. This year was the first time in many, many years that 5% was reached.

Let’s examine what best case and worst case projected increases for 2019 mean for your potential 30 year mortgage if you wait another year to make a home purchase in Ponte Vedra:

Continue reading Mortgage Rates - What’s in Store for Ponte Vedra Beach Mortgages?.

Are You Ready for a Tankless Water Heater?

Posted on by Lisa Barton in Green Home

Tankless water heaters are growing in popularity for many reasons, including space-saving benefits and better energy efficiency. Since we often do not have basements in the Ponte Vedra Beach area, storing a traditional water tank can be a nuisance. The tankless systems are more flexible since they take up less of a footprint and can be placed inside or out, including in the attic.

Continue reading Are You Ready for a Tankless Water Heater?.