The Lender's Lounge with Christian Samson

Get mortgage lenders’ perspectives on mortgage interest rates and where they see the market going.

What is happening with mortgage interest rates these days?  The real estate market has been a roller coaster over the past few years.  Low inventory, low-interest rates, bidding wars, and multiple offers have given way to continued low inventory, higher interest rates, and some hesitation among buyers and sellers regarding the market’s future outlook and home affordability.  

Interest rates have been the main focus of interest since the Fed started raising rates a little over a year ago. We are starting a new series of conversations with local mortgage lenders and get their take on interest rates and where they are going, the current outlook on the market, and whether it still makes sense to purchase a home right now.  

Today we are talking with Christian Sanson, mortgage broker and owner of Sanson Home Loans.  Check out Christian’s perspective on the market and find out more about what Sanson Home Loans can offer clients interested in purchasing a home in today’s market.

Marry the House, DATE The Rate...

What are you seeing with interest rates right now, and what is the thought on interest rates through the end of the year?

Rates are high right now.  I am currently pricing out in the high 6’s.  According to predictions by Fannie Mae, interest rates are expected to decline significantly before year’s end where I anticipate a small refinance boom. I try and avoid speaking in definites when it comes to mortgage rates because you never know. 

What are you telling buyers right now who are looking at interest rates and hesitant to buy, thinking it is not a good time?

It is a better idea to buy in a less competitive, higher interest rate environment, so you can get a great deal on the purchase price.  When rates dip, everyone and their mother will be entering the purchase market which means a lot of competition.  Competitive markets are very tough for people who do not have a ton of savings and money to spend.  If you do have a ton of money to spend.. You may overpay 40-50k for a home, and that lower interest rate will not matter.  

Do you have any interesting programs that you are offering to try and help buyers?

As an independent broker, I shop over 90 lenders for the best rate and most suitable loan product for my buyers. I cover all of my own business expenses and because the cost of that is not built into my interest rates, I am usually able to offer a rate about .5-.75% lower than the lowest direct lender.  Some relief on rate and cost and a large product offering can make a huge difference in a market where a ton of people are priced out. 

Any advice for homeowners who are on the fence about selling because of the rate they currently have versus the rates they are looking at for a new loan?

Ultimately, the decision to sell has to be made on an individual basis.   You need to look at the affordability of the new home: “Can I comfortably afford the new payment?” and you need to evaluate the potential long-term benefits. Factors such as the location, size, and features of the new property, as well as the potential for future appreciation should influence your decision. Consider the overall value and quality of life that the new home can provide and weigh the importance of that against a higher payment.

In the long run, in your opinion, why is now still a good time to buy a house?

You can still get a great deal on a home right now.  Do not miss out on a year’s worth of appreciation and lock yourself into a new year long lease because the monthly payment is a couple hundred dollars higher than where you would like it.  

If you can afford the monthly payment, buying is always a better alternative than renting.

Sanson Home Loans is an independent broker powered by Edge Home Finance based out of Charlotte, NC operating in 37/50 States. When you give Sanson Home Loans your trust in helping you make the biggest purchase of your life, we owe it to you to be fully invested in your success and offer an unparalleled client experience. Available 24/7 No Exceptions, Quick submission to close (10 Day Average), Cost Savings ($9407 per transaction on average), and Product Offerings (access to 90 lenders).

Mortgage Interest Rates discussion with Mortgage Lender Christian Sanson

Christian Sanson

Sanson Home Loans
Mortgage Broker/Owner
NMLS#1827877
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The Zahn Group is a dynamic real estate group serving the great Charlotte, NC area and upstate South Carolina.  We specialize in helping buyers and sellers in the South Charlotte area.  Contact us to learn more.