Key Take Aways When you head out to buy a home, several key milestones will be encountered along the way. The process includes everything from building your team and understanding your finances to going house hunting, making an offer, and more. Your journey starts here. Let’s connect, so you have expert guidance each step of the way. Other educational Continue Reading
If you’re following today’s housing market, you know two of the top issues consumers face are inflation and mortgage rates. Let’s take a look at each one. Inflation and the Housing Market This year, inflation reached a high not seen in forty years. For the average consumer, you probably felt the pinch at the gas pump and in the grocery store. It may have even Continue Reading
Buyer's Three Things to Consider It’s clear the 2022 housing market has been defined by rising mortgage rates. Undoubtedly, with rates on the rise, it’s become more costly to purchase a home for buyers. According to the National Association of Realtors (NAR): “Compared to one year ago, the monthly mortgage payment rose to $1,944 from $1,265, an increase of 53.7%.” If Continue Reading
If you’ve been thinking of buying a home, you may have been watching what’s happened with mortgage rates over the past year. It’s true they’ve risen dramatically, but where will they go from here, especially as the market continues to slow? As you think about your homeownership goals and decide if now’s the time to make your move, the best place to turn to for that Continue Reading
The Infographic "What Would a Recession Mean for the Housing Market?" above demonstrates that in most of the recent recessions, home prices have appreciated and mortgage rates have declined in the last six recessions. Key Takeaways If you’re wondering what a potential recession could mean for the housing market, here’s what history tells us. In four Continue Reading
Some Highlights The housing market is shifting away from the intensity of the past two years. Here’s what experts project for the remainder of 2022. The U.S. adds whopping 528,000 jobs in July as the labor market booms. Employers continue to raise wages at a strong clip and generally maintain longer hours for workers. The sustained labor market Continue Reading
Mortgage rates are much higher today than they were at the beginning of the year, and that’s had a clear impact on the housing market. As a result, the market is seeing a shift back toward the range of pre-pandemic levels for buyer demand and home sales. But the transition back toward pre-pandemic levels isn’t a bad thing. In fact, the years leading up to the pandemic were Continue Reading
While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still rising. You no doubt are feeling the pinch on your wallet at the gas pump or the grocery store, but that news may also leave you wondering: should I still buy a home right now? Greg McBride, Chief Financial Analyst Continue Reading
Over the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The mortgage rate 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 Continue Reading
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