Spirit Bear Realty
Spirit Bear Realty

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Last Thursday, Freddie Mac announced that their 30-year fixed mortgage rate was over 3% (3.02%) for the first time since last July. That news dominated real estate headlines that day and the next. Articles talked about the “negative impact” it may have on the housing market. However, we should realize two things:

1. The bump-up in rate should not have surprised anyone. Many had already projected that rates would rise slightly as we proceeded through the year.

2. Freddie Mac’s comments about the rate increase were not alarming:
“The rise in mortgage rates over the next couple of months is likely to be more muted in comparison to the last few weeks, and we expect a strong spring sales season.”
A “muted” rise in rates will not sink the real estate market, and most experts agree that it will be “a strong spring sales season.”

What does this mean for you?

Obviously, any buyer would rather mortgage rates not rise at all, as any upward movement increases their monthly mortgage payment. However, let’s put a 3.02% rate into perspective. Here are the Freddie Mac annual mortgage rates for the last five years:
2016: 3.65%
2017: 3.99%
2018: 4.54%
2019: 3.94%
2020: 3.11%

Though 3.02% is not as great as the sub-3% rates we saw over the previous seven weeks, it’s still very close to the all-time low (2.66% in December 2020).

And, if we expand our look at mortgage rates to consider the last 50 years, we can see that today’s rate is truly outstanding. Here are the rates over the last five decades:
1970s: 8.86%
1980s: 12.7%
1990s: 8.12%
2000s: 6.29%
2010s: 4.09%

Being upset that you missed the “best mortgage rate ever” is understandable. However, don’t throw the baby out with the bathwater. Buying now still makes more sense than waiting, especially if rates continue to bump up this year.

Bottom Line

It’s true that you may not get the same rate you would have five weeks ago. However, you will get a better rate than what was possible at almost any other point in history. Let’s connect today so you can lock in a great rate while they stay this low.

What our clients are saying  

I wish I could give Trisha & Elliot 10 stars. I promise you there is no better real estate team on the planet, and especially in Colorado. They’re truly experts in this market - so knowledgeable, available for you 24/7, fight for everything you want, invest in YOU, give you the tough love and splashes of humor we all need throughout the home buying process, and feel like friends at the end of it all. This is the team everyone tells you that you need, especially when attempting to navigate the wild Colorado market. It’s ruthless! Without a doubt I can say that my husband and I landed in our dream mountain home specifically because of Trisha & Elliot (Spirit Bear Realty). They are your people. Consider yourself lucky and on your way home once you begin working with them. Forever grateful!

 

~ Marianne Ahern

The first time my wife and I worked with Trisha was in finding and buying a home in Conifer. The second time was selling that previous home in Conifer to buy a new home in Larkspur. I really appreciated working with her the second time b/c closing on the house in Larkspur was contingent to selling the Conifer house. This special situation was stressful, but Trisha and her team was extremely helpful throughout the entire process. Because of this, we were able to sell the Conifer house and close on the Larkspur house all within a month. She's definitely knowledgeable with real estate

 

~ Edrey & Bobbi Jo

I recommend Trisha Karstetter 100% to be your home buying agent! My fiance & I visited Jefferson County from Florida for exactly 1 week with 1 goal in mind - to make an offer on a house! Via email we explained what we were looking for; she put together a binder of the homes organized by day & area of where the homes were located. We saw 72 homes before choosing THE one. She was so adventurous, kind & reassuring; she made buying a new home FUN. Thank you Trisha!

 

~ Greg & Karen of Evergreen

I would recommend Trisha Karstetter. I find Trisha to be hard working, tenacious and that she genuinely cares about her clients. This is not just a job for her it is her passion, she is excited to go to work every day and works for her clients with great enthusiasm. I would work with Trisha again for buying or selling a home.

 

~ Lynda in Golden

Trisha provided excellent service. We went out with numerous real estate agents but Trisha was our favorite. She was always honest and had our family in her best interest. A family type atmosphere in the office. I HIGHLY RECOMMEND!!!!!!!

 

~ Kevin, Mindy & Marley

We had a fantastic experience with Trisha! She really went above and beyond with every aspect of our home buying experience. She is warm, responsive, well connected, and very organized. She developed a great relationship with the selling agent and facilitated a flawless transaction. She also has extensive knowledge of Indian Hills and the surrounding area. Even after we closed on our new home she continued to connect us with a variety of local services! We would highly recommend her and we look forward to being her neighbors!

 

~ Shannon & Michael

Trisha was a true professional, yet with a great personal touch. She was always available day or night to answer our many questions. I would highly recommend her.

 

~ Lisa & Jeff

Trisha helped me purchase and sell several properties - including investment properties and horse properties. Trisha is professional, courteous, and a wonderful negotiator! I highly recommend her!

 

~ Scott

Trisha made the home buying and selling process so easy and was quick to answer all of our questions. Trisha also sold our house fast and at a record high price point for our model in our immediate area. I highly recommend Trisha Karstetter for your next real estate transaction!!

 

~ Taylor & Matt

First used Trisha to buy a home in Indian Hills. She was able to help us sort out the good, the bad and the ugly....which is not an easy feat in the mountains! One day, she must have showed us six different properties. Quite a few were ones we had found and she immediately contacted agents so we could see them. We did find the perfect cabin! I then contacted Trisha months later to help with selling my condo. She was extremely responsive and was able to attain a contractor to do some re-modeling/updating. First offer actually came in before it was on the market. Unfortunately, it wasn't the right offer, but with Trisha's skills, the condo sold within six weeks of actually being on the market. Trisha has a knack of making you feel like you are her only client. Which helps someone like me that was pretty naïve about the real estate market. Thanks Trisha!!! You ROCK!

 

~ Christy

Trisha was always available day/night 7 days a week to help us with any questions or concerns we had. She sold our condominium in 1 day. We also used her to purchase our new home - which went very smoothly. Excellent realtor. Highly recommend using her. Thank you Trisha for everything

 

~ Jane & Paul

Trisha Karstetter was not only extremely knowledgeable, she was very east to talk to, patient, and was very helpful with every aspect of buying our home. She helped us figure out what kind of loan would be best for situation, and let us know how increase the homes value once we purchased it. I highly recommended her, I even did to my own parents which will be purchasing a home through her in the near future.

 

~ Annie & Jared

Trisha helped me through the process of getting the house ready to sell and all of her recommendations seemed to result in several offers as soon as the house was listed. Being able to sign all the listing contracts and just email them back without going into the office was very helpful. Absolutely the best Realtor I've ever dealt with!!

 

~ Steve

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