Santa Fe Mortgage has helped hundreds of clients with finance their homes. There was a time, a very short while ago, when virtually any lender could get a qualified home buyer a mortgage at a rate that seemed great. 30-year Fannie Mae/Freddie Mac mortgage rates dropped from a high of 17.70% in November 1981 to 2.67% in December 2020 in a relatively straight line. We now find ourselves in a time when 30 year mortgage rates hover above 7.5% and the Federal Reserve tells us to expect rates to be “higher for longer.” Rates have not been this high, on average, since November 2020, according to the St. Louis Federal Reserve chart of 30 Year Fixed Rate Mortgage Average in the US. If you’re in the market to buy a home now, you’ve no doubt realized that home prices are nowhere near their year 2000 pricing levels. What’s a buyer to do?
At Santa Fe Mortgage Company, we’ve helped home-buyers in New Mexico for 30 years and we’ve recently expanded our licensed markets to include California and Colorado. We’ve seen periods of high-rates and periods of low-rates. When you need a home, you need a home regardless of current mortgage rates. We know that independent, licensed mortgage brokers like Santa Fe Mortgage provide better service at substantially lower cost than any other lending option you have: our fees are lower than most lenders because our overhead is lower and our relationships with multiple wholesale lenders gives us a range of loan products and price comparisons that work to your advantage.