Jack Hipolito Fernandez: Low Interest Rates Helping Reboot Real Estate Industry

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CNN reported that interest rates on a 30-year, fixed-rate mortgage hit an ultimate low at an average of 3.66 percent. Jack Hipolito Fernandez, a Los Angeles, Calif.-based Realtor, believes the low interest rates will help the real estate market recover significantly.

For homebuyers, there is some good news on the mortgage front. The newest Freddie Mac weekly survey rates show the interest rate on a 30-year, fixed-rate mortgage has reached an astounding 3.66 percent, according to a CNN report. Two weeks ago, a record was set when the 15-year, fixed-rate mortgage dropped to 2.95 percent, a 0.01 percentage point below the previous record. Realtor Jack Hipolito Fernandez said the low interest rates are definitely drawing in more buyers.

“Years ago, the interest rates for mortgages were at 5 or 6 percent,” Jack Hipolito Fernandez said. “But now, the rates are much lower and people want to take advantage of that. People who couldn’t afford a mortgage now can because of these super low interest rates. They are getting houses for the same amount they are paying in rent because of the interest rates.”

The low interest rates represent a mirror bond yield performance. Frank Nothaft, chief economist for Freddie Mac, said treasury bonds eased a bit on worsening economic indicators, which helped mortgage rates’ hit record lows. He also pointed out the decline in industrial production, consumer sentiment and hiring as indicators the economy’s recovery has declined. Jack Hipolito Fernandez said all of those factors are crucial to the economy bouncing back from the recession.

The lower interest rates are bringing substantial savings to homebuyers. Homebuyers are saving $48 a month in mortgage payments for every $100,000 borrowed. When rates were 4.5 percent 12 months ago, homebuyers would have not gotten those savings. Jack Hipolito Fernandez said the minimized interest rates are saving his customers hundreds of dollars per year. They are finding more deals within their financial budget and saving more money for other important purchases, like a college education and downpayment for a new vehicle.

“Our customers are absolutely loving these low interest rates,” Jack Hipolito Fernandez said. “They didn’t think they’d ever own a home, which is the American dream for many people. But now, those dreams are becoming a reality and the team at HF Realty is proud to be a part of that. I definitely think the real estate market is going to turn around now because of these low interest rates. We’ll be keeping tabs on the interest rates and watching how it changes the market.”


Jack Hipolito Fernandez is a Realtor at HF Realty. He started working at his parents’ real estate company, HF Realty, after earning his business degree from California State University. Eventually, he will take over the company after his parents retire from the business. HF Reality specializes in commercial and residential real estate sales in Los Angeles, Calif. Jack Hipolito Fernandez is committed to finding his customers their dream homes or helping people sell their homes as the economy recovers from a deep recession.

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Michael McGarety
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