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  • psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities, condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent, Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton, Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry, Va Beach, Yorktown and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @ 757-254-813
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    5524 Pennington Place

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Mortgage Rates continue to climb

(June 14-2013) Mortgage rates continued their upward trend last week, according to new data released Thursday by Freddie Mac.

The 30-year fixed-rate average last week increased from 3.91 percent to 3.98 percent, coming close to the 4-percent mark, which  has not been surpassed in more than a year. This time last year, the 30-year averaged 3.71 percent.

Rates for  15-year mortgage average pushed  higher, up to 3.10 percent from 3.03 percent last week. That is slightly higher than one year ago, when it averaged 2.98 percent.

“Fixed mortgage rates crept up further this week following a solid employment report for May,” Frank E. Nothaft, Freddie Mac vice president and chief economist, said in a statement. “The economy added 175,000 new jobs and the number of discouraged workers fell by 780,000 to the fewest since September 2009.”

“With the ongoing run up in fixed mortgage rates, adjustable-rate mortgages are becoming more popular among homeowners looking to refinance and for home purchasers,” Nothaft said, noting that, in terms of total dollars, the share of mortgage applications for ARMs has jumped to 17 percent from 13 percent at the beginning of May.

The number of individuals who are underwater on their mortgages is falling, too. On Wednesday, CoreLogic, a research firm, reported that the number of homeowners who owe more than their homes are currently worth dropped to 9.7 million during the first quarter of the year, down from 11.4 million during the same period in 2012.

The shift is largely the result of a gradual increase in home prices earlier this year, which helped more homeowners get back into the black on their mortgages.

Preferred Lenders

Visit Our Preferred Financial Partners

No charge for credit reports.  No junk fees.  That´s the pledge from lenders we have hand selected to earn ‘preferred’ status to offer mortgage services to Liz Moore & Associates´ buyers.  And adding up the dollars NOT spent on extraneous fees results in an amazing amount of money our buyers now have to spend on their new homes!  When it´s your home, everything counts.

Contact John@MRWilliamsburg.com and he will put you in touch with one of our preferred lenders who can answer any of your mortgage or refinance questions.

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