According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at their lowest for 2019. Rates like these haven’t been seen since February 2018!
Last week’s survey results reported an interest rate of 4.35%. This is a welcome change from the near 5% rates seen in mid-November. At 4.32%, the second week of February 2018 was the last time rates were this low. This can be seen in the chart below.
Freddie Mac’s Chief Econ... read more
The cost of waiting to buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
Freddie Mac predicts interest rates to rise to 5.1% by the end of 2019.
CoreLogic predicts home prices to appreciate by 4.8% over the next 12 months.
If you are ready and willing to buy your dream home, find out if you are able to!
From Keeping Current Matters... read more
In today’s fast-paced world, where answers are a Google search away, there are some who may wonder what the benefits of hiring a real estate professional to help them in their home search are. The truth is, with the addition of more information, comes more confusion.
Shows like Property Brothers, Fixer Upper and the dozens more on HGTV have given many a false sense of what it’s like to buy and sell a home.
Now more than ever, you need an expert on your side who is goin... read more
For centuries, people in this country have seen homeownership as part of the American Dream. Whether they were born here or immigrated from another country, they wanted to own a piece of America. With so many prominent societal changes over the last few decades, it is fair to ask if people in America still feel the same way about owning a home. The answer was made abundantly clear in two separate reports released earlier this month.
In their market trends report, As Housing Trends Shift, So Does Renter, Buyer ... read more
Posted by Lee Calihan on February 15, 2019 in
The price of any item (including residential real estate) is determined by the theory of ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.
The supply of homes for sale dramatically increases every spring, according to the National Association of Realtors (NAR). As an example, here is what happened to housing inventory at the beginning of 2018:
Putting your home on the market now, rather than ... read more