The Drop in Mortgage Rates Brings Good News for Homebuyers

Written by Merritt Island FL Mortgage Syndicated User on July 12, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates, Move-Up Buyers.

Over the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The drop happened over concerns about a potential recession. And since mortgage rates have risen dramatically this year, homebuyers across the country should see this decline as welcome news. Freddie Mac reports that the average 30-year rate was down to 5.30% from 5.81% two weeks prior (see graph below): But why is this recent dip such good news for homebuyers? As Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), explains: “According...

What Does an Economic Slowdown Mean for the Housing Market?

Written by Merritt Island FL Mortgage Syndicated User on July 8, 2022. Posted in For Buyers, Housing Market Updates, Interest Rates, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates.

According to a recent survey, more and more Americans are concerned about a possible recession. Those concerns were validated when the Federal Reserve met and confirmed they were strongly committed to bringing down inflation. And, in order to do so, they’d use their tools and influence to slow down the economy. All of this brings up many fears and questions around how it might affect our lives, our jobs, and business overall. And one concern many Americans have is: how will this affect the housing market? We know how economic slowdowns have impacted home prices in the past, but how could this...

Why Growing Home Equity Is Great News if You Plan To Move [INFOGRAPHIC]

Written by Merritt Island FL Mortgage Syndicated User on July 8, 2022. Posted in For Sellers, Housing Market Updates, Infographics, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates, Move-Up Buyers, Pricing.

Some Highlights According to the latest data from CoreLogic, the average homeowner gained $64,000 in home equity over the past 12 months. That much equity can be a game-changer when you move. When you sell, it could be some (if not all) of what you need for a down payment on your next home. To find out how much equity you have in your home and how you can use it, let’s connect today. Content previously posted on Keeping Current Matters

Real Estate Consistently Voted Best Investment [INFOGRAPHIC]

Written by Merritt Island FL Mortgage Syndicated User on July 2, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates, Move-Up Buyers.

Some Highlights Based on a recent Gallup poll, real estate has been rated the best long-term investment for nine years in a row. Owning real estate is more than just a place to call home. It’s also an investment in your future. That’s because it’s typically a stable and secure asset that can grow in value over time. If you’re ready to buy a home and invest in your future, let’s connect. Content previously posted on Keeping Current Matters

A Key Opportunity for Homebuyers

Written by Merritt Island FL Mortgage Syndicated User on June 29, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates, Move-Up Buyers.

There’s no denying the housing market has delivered a fair share of challenges to homebuyers over the past two years. Two of the biggest hurdles homebuyers faced during the pandemic were the limited number of homes for sale and the intensity and frequency of bidding wars. But those two things have reached a turning point. As you may have already heard, the number of homes for sale has increased this year, and even more so this spring. As Danielle Hale, Chief Economist for realtor.com, explains: “New listings–a measure of sellers putting homes up for sale–were up 6% above one year ago. Home...

Two Reasons Why Today’s Housing Market Isn’t a Bubble

Written by Merritt Island FL Mortgage Syndicated User on June 28, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates, Pricing.

You may be reading headlines and hearing talk about a potential housing bubble or a crash, but it’s important to understand that the data and expert opinions tell a different story. A recent survey from Pulsenomics asked over one hundred housing market experts and real estate economists if they believe the housing market is in a bubble. The results indicate most experts don’t think that’s the case (see graph below): As the graph shows, a strong majority (60%) said the real estate market is not currently in a bubble. In the same survey, experts give the following reasons why this isn’t like...

The Average Homeowner Gained $64K in Equity over the Past Year

Written by Merritt Island FL Mortgage Syndicated User on June 22, 2022. Posted in For Sellers, Housing Market Updates, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates, Move-Up Buyers, Pricing.

If you own a home, your net worth likely just got a big boost thanks to rising home equity. Equity is the current value of your home minus what you owe on the loan. And today, based on recent home price appreciation, you’re building that equity far faster than you may expect – here’s how it works. Because there’s an ongoing imbalance between the number of homes available for sale and the number of buyers looking to make a purchase, home prices are on the rise. That means your home is worth more in today’s market because it’s in high demand. As Patrick Dodd, President and CEO of CoreLogic, explains: “Price...

Why Achieving the Dream of Homeownership Can Be More Difficult for Some Americans

Written by Merritt Island FL Mortgage Syndicated User on June 21, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates.

Today we take time to honor and recognize the past and present experiences of Black Americans. When it comes to real estate specifically, equitable access to housing has come a long way, but the path to homeownership is still steeper for households of color. The Gap in Homeownership Rate in America It’s a more challenging journey to achieve homeownership for some buyers, as shown by the measurable gap between the overall average U.S. homeownership rate and that of non-white groups. Today, Census data shows the lowest homeownership rate persists in the Black community (see graph below): This...

More Listings Are Coming onto the Market [INFOGRAPHIC]

Written by Merritt Island FL Mortgage Syndicated User on June 18, 2022. Posted in For Sellers, Housing Market Updates, Infographics, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates.

Some Highlights Worried you won’t be able to find your next home after you sell? You should know data from realtor.com shows more listings are coming onto the market each month this year. Having additional options can make the search for your next home easier. But inventory is still low overall, which means your house should still stand out when you sell. If your biggest question is where you’ll go if you sell, take this as encouraging news. Let’s connect to start the process today. Content previously posted on Keeping Current Matters

Home Price Deceleration Doesn’t Mean Home Price Depreciation

Written by Merritt Island FL Mortgage Syndicated User on June 17, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates, Pricing.

Experts in the real estate industry use a number of terms when they talk about what’s happening with home prices. And some of those words sound a bit similar but mean very different things. To help clarify what’s happening with home prices and where experts say they’re going, here’s a look at a few terms you may hear: Appreciation is when home prices increase. Depreciation is when home prices decrease. Deceleration is when home prices continue to appreciate, but at a slower pace. Where Home Prices Have Been in Recent Years For starters, you’ve probably heard home prices have skyrocketed over...

Category: Housing Market Updates