Low Mortgage Rates Projected into 2023

CoreLogic released its three-year housing and mortgage outlook report and the data company predicts 2021 will maintain its unprecedented home sales and record low mortgage rates as the economy continues to recover.

“We may actually see mortgage rates below 3%, perhaps for the entire year of 2021,” CoreLogic chief economist Frank Nothaft said. “And I wouldn’t be surprised if this low rate environment continues even beyond 2021, not necessarily at 2.7% or 2.8% once we get out to 2022, but we are expecting mortgage rates over the next three years to be far less than they’ve been in the last decade.”

“There are a little over 20 million home mortgages outstanding, with a contract interest rate of 4% or higher still in the United States,” he said. “That’s a lot of mortgages. Especially when contract interest rates for refis are below 3%. Obviously, some of those borrowers have had financial hardship and challenges, which will make it difficult for them to come in and refinance. So, we’re not expecting 20 million loans to come in, but they’ll still be out there and many of them will be coming into refinance in 2021.”

Read the full article at housingwire.com

If you’re considering a refi or a move in 2021, let’s chat! Email me at Carolyn@5280coloradohomes.net

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Thanksgiving Music & Movie playlist

Thanksgiving will likely look a lot different this year, but as usual it’s a time to practice gratitude and thankfulness for all the gifts in our lives. Regardless of our circumstances this holiday season, music and movies can be a binding force to bring us together and help us resonate on truly joyful moments in our lives.

Pick up a new hobby this winter

Another winter is upon us and that means colder, longer days with more time spent indoors will be here before we know it. Add in a pandemic and the list of things to do outside of the house dwindles significantly. Now is the perfect time to pick up a hobby you’ve always considered or to try something new and completely out of the box. We’ve gathered 5 ways to stay busy indoors during these colder months.

  • Knitting– known as a meditative hobby with calming effects. According to Knit for Peace, a network of 15,000 knitters in the UK who “knit for those in need,” there is substantial evidence to suggest that knitting is beneficial to the mind and body. It is known to reduce depression and anxiety and slow the onset of dementia. Where to start? Check out this article on 10 knitting projects for beginners to try.
  • Embroidery– another great way to self-soothe and keep your hands busy. No idea where to start? Start here. They break down the supplies you need and also teach you each every stitch possible. You could also consider buying a kit like this one to try for your first time.
  • Jewelry-making– create your own beaded bracelets or try some polymer clay earrings. Find the directions to the cute daisy chain bracelets here and the clay earrings here.
  • Hand Lettering– know as drawing letters as opposed to writing them. You also have more control over the letters with hand lettering as opposed to calligraphy. For that reason, hand lettering can be a great alternative for projects that are too large for calligraphy, like large chalkboards and other signage. Find beginner tips and tricks here. Find Brush and Barley on Etsy for digital hand lettering tools.
  • Make your own Christmas tree ornaments– we love these simple botanical ornaments from Martha Stewart. Fairly simple and inexpensive to create. Perfect to tie onto presents with a simple strand of twine to add your own personal touch.