The real estate market is one of our lifetime's most foundationally strong housing markets – if not the most robust. When you look at the numbers today, the one thing that stands out is the strength of this housing market. Here are two fundamentals that prove this point. 1. The Current Mortgage Rate on Existing Mortgages First, let’s look at the current rate on existing mortgages. Continue Reading
You’ve likely seen headlines about foreclosures climbing in today’s housing market. That may leave you with questions, especially considering buying a house. Understanding what they mean is mission-critical if you want to know the truth about what’s happening today. According to a recent report from ATTOM, a property data provider, foreclosure filings are up 6% compared to the previous quarter Continue Reading
The biggest challenge the housing market faces is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply: “Two dynamics are keeping existing-home inventory historically low – rate-locked existing homeownersandthe fear of not finding something to buy.” Let’s break down these two big issues in Continue Reading
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