In this episode of the Nashville Real Estate Podcast, host Jarrod Swanson, a Realtor and Mortgage Broker, discusses the current state of mortgage rates and housing affordability. He explains the relationship between U.S. Treasury yields and mortgage rates, noting recent increases influenced by economic indicators like CPI and PPI.
Jarrod explores strategies for managing mortgage payments, focusing on permanent and temporary buy-downs, and provides examples of how these can benefit buyers. He also highlights the importance of understanding market dynamics and the potential impact of upcoming Federal Reserve decisions on interest rates.
If you or your clients want to know how to make your mortgage payment more affordable, send Jarrod a message!
**Current Mortgage Rates (00:00:13)**
As of December 13, 2024, mortgage rates are at 6.875%, showing an upward trend.
**U.S. Treasury Yield Correlation (00:01:06)**
Explains the relationship between U.S. Treasury yields and mortgage interest rates.
**Impact of CPI and PPI Data (00:02:30)**
Discusses how recent CPI and PPI data affects expectations for Federal Reserve rate cuts.
**Affordability in the Housing Market (00:03:41)**
Explores the current affordability issues in the housing market and home price trends.
**Buy-Down Options Explained (00:04:51)**
Describes permanent and temporary buy-down options for managing mortgage payments.
**Example of Temporary Buy-Down (00:06:03)**
Provides a practical example of how a temporary buy-down can benefit buyers.
**Opportunities in the Market (00:08:41)**
Highlights the number of homes available in the market and potential seller concessions.
**Using Seller Concessions for Buy-Downs (00:09:47)**
Discusses strategies for utilizing seller concessions to lower mortgage payments.
**Conclusion and Upcoming Fed Announcement (00:11:01)**
Wraps up the discussion and mentions the upcoming Federal Reserve meeting on December 18.
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