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Housing Market Forecast for the Rest of 2023 [INFOGRAPHIC]

Written by Hallandale Beach Mortgage Syndicated User on August 5, 2023. Posted in For Buyers, For Sellers, Hallandale Beach Condo Mortgages, Hallandale Beach Mortgage, Hallandale Beach Mortgage Rates, Housing Market Updates, Infographics, Interest Rates, Pricing.

Some HighlightsWant to know what experts say will happen in the rest of 2023? Home prices are already appreciating again in many areas. The average of the expert forecasts shows positive price growth.Where mortgage rates go for the rest of the year will depend on inflation. Based on historical trends, rates are likely to ease as inflation continues to cool.Even though low inventory continues to be a challenge, experts project 5 million homes will still sell this year. That pace should pick up if rates come down.

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How Inflation Affects Mortgage Rates

Written by Hallandale Beach Mortgage Syndicated User on August 4, 2023. Posted in Buying Myths, For Buyers, Hallandale Beach Condo Mortgages, Hallandale Beach Mortgage, Hallandale Beach Mortgage Rates, Housing Market Updates, Interest Rates, Move-Up Buyers.

When you read about the housing market in the news, you might see something about a recent decision made by the Federal Reserve (the Fed). But how does this decision affect you and your plans to buy a home? Here’s what you need to know.The Fed is trying hard to reduce inflation. And even though there’s been 12 straight months where inflation has cooled (see graph below), the most recent data shows it’s still higher than the Fed’s target of 2%: While you may have been hoping the Fed would stop their hikes since they’re making progress on their goal of bringing down inflation, they...

Explaining Today’s Mortgage Rates

Written by Hallandale Beach Mortgage Syndicated User on July 20, 2023. Posted in For Buyers, Hallandale Beach Condo Mortgages, Hallandale Beach Mortgage, Hallandale Beach Mortgage Rates, Housing Market Updates, Interest Rates.

If you’re following mortgage rates because you know they impact your borrowing costs, you may be wondering what the future holds for them. Unfortunately, there’s no easy way to answer that question because mortgage rates are notoriously hard to forecast. But, there’s one thing that’s historically a good indicator of what’ll happen with rates, and that’s the relationship between the 30-Year Mortgage Rate and the 10-Year Treasury Yield. Here’s a graph showing those two metrics since Freddie Mac started keeping mortgage rate records in 1972:As the graph shows, historically, the average spread...

Homebuyers Are Getting Used to the New Normal

Written by Hallandale Beach Mortgage Syndicated User on July 19, 2023. Posted in For Sellers, Hallandale Beach Condo Mortgages, Hallandale Beach Mortgage, Hallandale Beach Mortgage Rates, Housing Market Updates, Interest Rates, Selling Myths.

Before you decide to sell your house, it’s important to know what you can expect in the current housing market. One positive trend right now is homebuyers are adapting to today’s mortgage rates and getting used to them as the new normal.To better understand what’s been happening with mortgage rates lately, the graph below shows the trend for the 30-year fixed mortgage rate from Freddie Mac since last October. As you can see, rates have been between 6% and 7% pretty consistently for the past nine months:According to Lawrence Yun, Chief Economist at the National Association of Realtors...

How Remote Work Expands Your Homebuying Horizons

Written by Hallandale Beach Mortgage Syndicated User on July 14, 2023. Posted in For Buyers, Hallandale Beach Condo Mortgages, Hallandale Beach Mortgage, Hallandale Beach Mortgage Rates, Interest Rates.

Even as some companies transition back into the office, remote work remains a popular choice for many professionals. So, if you currently enjoy working from home or hope to be able to soon, you’re not alone. According to a recent survey, most working professionals want to work either fully remote or hybrid (see below):This trend is good news if you’re looking to buy a home because a remote or hybrid work setup can help you overcome some of today’s affordability and housing inventory challenges.More Work Flexibility Equals More Home OptionsRemote or hybrid work opens up a world of...

Two Questions To Ask Yourself if You’re Considering Buying a Home

Written by Hallandale Beach Mortgage Syndicated User on July 6, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Hallandale Beach Condo Mortgages, Hallandale Beach Mortgage, Hallandale Beach Mortgage Rates, Interest Rates, Move-Up Buyers, Pricing.

If you’re thinking of buying a home, chances are you’re paying attention to just about everything you hear about the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, overhearing someone chatting at the local supermarket, the list goes on and on. Most likely, home prices and mortgage rates are coming up a lot. To help cut through the noise and give you the information you need most, take a look at what the data says. Here are the top two questions you need to ask yourself...

Your Needs Matter More Than Today’s Mortgage Rates

Written by Hallandale Beach Mortgage Syndicated User on June 14, 2023. Posted in For Buyers, For Sellers, Hallandale Beach Condo Mortgages, Hallandale Beach Mortgage, Hallandale Beach Mortgage Rates, Interest Rates, Move-Up Buyers.

If you’re thinking about selling your house right now, chances are it’s because something in your life has changed. And, while things like mortgage rates are a key part of your decision on what you’ll buy next, it’s important to not lose sight of the reason you want to make a change in the first place.It’s true mortgage rates have climbed from the record lows we saw in recent years, and that has an impact on affordability. With rates where they are right now, some homeowners are deciding they’ll wait to sell because they don’t want to move and have a higher mortgage rate on their next...

The Main Reason Mortgage Rates Are So High

Written by Hallandale Beach Mortgage Syndicated User on June 14, 2023. Posted in For Buyers, Hallandale Beach Condo Mortgages, Hallandale Beach Mortgage, Hallandale Beach Mortgage Rates, Interest Rates.

Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions: Why Are Mortgage Rates So High?When Will Rates Go Back Down?Here’s context you need to help answer those questions.1. Why Are Mortgage Rates So High? The 30-year fixed-rate mortgage is largely influenced by the supply and demand for mortgage-backed securities (MBS). According to Investopedia: “Mortgage-backed securities (MBS) are...

Category: Interest Rates