Category Archives for "Market Outlook"
“Cheers to 2024 Buyers: A Roundup of Top Homebuying Advice from 2023”
Welcome to a brand new year, filled with endless possibilities for finding your dream home. If you’re a savvy buyer, looking for insider tips and strategies, then you’ve come to the right place. We’re here to provide you with all the helpful advice you need to navigate the real estate market and secure an amazing home in 2024. From expert insights to industry trends, we’ve got you covered. Let’s raise a toast to all the future buyers, as we round up the best homebuying advice from 2023. Get ready for an inspiring journey as we explore the top tips and tricks that will make your home search a breeze. Say goodbye to the old, and cheers to new beginnings!
Continue reading“Riding the Wave: Mortgage Refinancing Surges by Nearly 20% as Rates Hit a Five-Month Low”
Mortgage refinancing is on the rise with a staggering 20% surge as interest rates take a sharp downward turn, hitting a five-month low. Recently, rates have dropped by 10 basis points, bringing further relief to homeowners. In the past month, the 30-year rate has witnessed a significant decrease by 54 basis points, offering potential savings for those looking to refinance their mortgage. This positive trend in interest rates presents an opportunity for homeowners to take advantage of the current market conditions and potentially reduce their monthly mortgage payments.
Continue reading“Unlocking Hidden Value: How Mobile Homes Can Skyrocket Your Home Value”
Investing in a mobile home could be your ticket to boosting your home value, as the sales prices of these dwellings have been skyrocketing at an impressive pace. Surpassing the growth rates of traditional stick-built houses, mobile homes have emerged as a promising option for those looking to make a profitable purchase. So, if you’re seeking a smart investment that will make your home value soar, consider exploring the world of mobile homes.
Continue reading“Deck the Halls: Unveiling America’s Most and Least Festive Cities and States”
‘Tis the season to be merry and bright, and some cities and states across the United States take holiday decorating to a whole new level. From dazzling light displays to iconic decorations, each location has its own distinct way of getting into the festive spirit. Discover which cities and states are the ultimate holiday hotspots, as well as those that prefer a more low-key approach. Get ready to be inspired by the most (and least) festive destinations across America, as we dive into the enchanting world of holiday decorations.
Continue reading“The Changing Tide of Foreclosure: Current Decline and Future Projections for Homeowners”
As we approach the end of 2023, there is some good news for homeowners as the number of foreclosures is decreasing compared to earlier this year. However, this positive trend may not last for long, raising concerns about what lies ahead in 2024. It is important for homeowners to stay vigilant and be prepared for potential challenges that may arise in the real estate market.
Continue reading“Frozen in Time: Reflecting on the Extraordinary Housing Market of 2023”
As we reflect on the events of the past year, it becomes evident that 2023 will be remembered as the pivotal moment when the housing market came to a standstill. With soaring home prices, escalating mortgage rates, and a scarcity of available properties, the industry experienced an unprecedented freeze. Join us as we delve into the major factors that contributed to this extraordinary phenomenon in our latest article, “A Look Back at 2023: The Year the Housing Market Froze Over,” exclusively featured on Real Estate News & Insights | realtor.com®.
Continue readingCOVID-19, Mortgage Forbearance and the Next Steps
In March, the federal government put into law the CARES Act which helped affected homeowners put their mortgage into forbearance. The initial plan allowed homeowners to stop making payments on their mortgage for 3 months without risking a penalty or foreclosure. As we near the end of the 3 months, many homeowners wonder, what now? […]
Continue readingFOMC Statement: Fed Holds Steady On Its Interest Rate Range
The Federal Open Market Committee of the Federal Reserve announced its unanimous decision not to change to the current target federal funds range of 1.50 to 1.75 percent. The committee’s customary post-meeting statement said the decision not to change the Fed’s target range for federal funds was based on factors including a strong labor market, moderate economic growth, continued job growth, and low unemployment.
Continue readingCase-Shiller: July Home Price Growth Hits Lowest Pace in 12 Years
Case-Shiller’s National Home Price Index reported U.S. home prices grew by 3.20 percent year-over-year in July; as compared to year-over-year home price growth 0f 3.00 percent posted in June. Cities with the highest rates of year-over-year home price growth were Phoenix, Arizona with 5.80 percent year-over-year home price growth. Las Vegas, Nevada had 4.70 percent year-over-year home price appreciation and Charlotte, North Caroline bumped Tampa, Florida from the top three cities with home price appreciation of 4.60 percent. Tampa, Florida posted 4.50 percent year-over-year home price growth in July.
Continue readingFed Policymakers Cut Key Rate Range by .25 Percent
The Federal Reserve’s Federal Open Market Committee reduced its key short-term interest rate range one-quarter percent to 1.75 to 2.00 percent during it’s September meeting. While FOMC members had mixed opinions on reducing the benchmark rate range for short term loans, the post-meeting statement suggested that reducing the federal funds rate was a hedge against inflation. The federal funds rate impacts short-term consumer loan rates for autos and adjustable rate mortgages, but does not impact fixed mortgage rates. FOMC monetary policy decisions are governed by the Federal Reserve’s dual mandate of maintaining price stability and an inflation rate of 2.00 percent.
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