Ep #81 - Are Rising Interest Rates Impacting VA Loans for First Time Homebuyers in the US & Vegas?

Welcome the French Workbench Podcast and Las Vegas Experience with Dan French. Last year, mortgage interest rates reached record lows. The average VA FTHB’s interest rate was 2.90% and the quarterly FTHB VA purchase loan volume stayed elevated. In Q3 2021, it reached a record level of over $19 billion for that quarter, $174 million higher than Q3 2020. And since 2017, VA purchase loans helped roughly 200,000-230,000 VA-eligible first-time home buyers per year become homeowners. This translates into an average of $56 billion in mortgage originations per year. In 2021, the VA FTHB segment reached an estimated $69 billion, according to Ginnie Mae loan-level disclosure data updated through January 2022, analyzed in GovLoansVision. So, what will 2022 look like for the VA FTHB borrowers? Calculations tell us that if interest rates continue to climb, we might see a lower VA FTHB volume of around $58 billion in 2022. On the other hand, if rates stabilize and stay in low to mid 3’s, we might see the VA FTHB purchase volume at $70 billion in 2022. Chime in with your thoughts and comments! _______________________ Looking to Sell? FIND OUT YOUR HOME'S VALUE: https://www.lvhomeprofessionals.com/sell.php 🏡 FIND YOUR NEW HOME HERE! NEW HOMES FOR SALE North LAS VEGAS: https://myre.io/0qkKcAodVBBg NEW HOMES FOR SALE HENDERSON: https://myre.io/0jbpj9LBPLy NEW HOMES FOR SALE SUMMERLIN: https://myre.io/0YRnC8BAPXrl NEW HOMES FOR SALE LAS VEGAS: https://myre.io/0CMoiL45F7lt 🏠 RESALE HOMES: RESALE HOMES FOR SALE SUMMERLIN: https://myre.io/0UTj2QDZQr4t RESALE HOMES FOR SALE HENDERSON: https://myre.io/0EpPM9PibuBl RESALE HOMES FOR SALE LAS VEGAS: https://myre.io/0JfHHgHCuVok ________________________ HOSTED BY: Dan French Realtor | Key Realty LLC License # S.0193843 9890 S Maryland Parkway Las Vegas, NV 89183 702-557-6176 https://www.lvhomeprofessionals.com Follow Us on Social Media! Instagram: https://www.instagra