Interested rates are going down

Did you know?

The 30-year fixed-rate mortgage averaged 6.27% as of December 22, according to data released by Freddie Mac. That’s down 4 basis points from the previous week — one basis point is equal to one-hundredth of a percentage point. Rates have dropped for the sixth week in a row.

We just closed a house/loan early this month at 5.5% and another one at 3.5% (arm).

Let us help you with your home buying and selling needs in 2023! "Call Firks 1st®" when you need to talk with one of the best real estate brokers in town, 630.637.9009

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I will leave you with 5 good financial news that happened in 2022.

1. Savers are earning more with higher interest rates.

2. Those contributing to their retirement accounts are buying in at lower levels

3. For home buyers, some prices have come down. And rent jumps seem to be cooling in areas too.

4. The 3 major credit reporting bureaus — Equifax, Experian, and TransUnion — dropped fully-paid medical debts from credit reports. Consumers will also get 12 months (up from 6 months) before unpaid medical debt shows up on their credit report. Starting in 2023, credit reports won’t include unpaid medical debt that’s less than $500.

5. 49 jurisdictions (two states and 47 cities and counties) will meet or exceed a $15 minimum wage for some or all employers by year's end.

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