What Does the Rest of the Year Hold for the Housing Market?

Written by Treasure Island FL Mortgage Syndicated User on June 1, 2022. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage Treasure Island FL, Move-Up Buyers, Treasure Island FL Mortgage.

If you’re thinking of buying or selling a house, you’re at an exciting decision point. And anytime you make a big decision like that, one thing you should always consider is timing. So, what does the rest of the year hold for the housing market? Here’s what experts have to say. The Number of Homes Available for Sale Is Likely To Grow There are early signs housing inventory is starting to grow and experts say that should continue in the months ahead. According to Danielle Hale, Chief Economist at realtor.com: “The gap between this year’s homes for sale and last year’s is one-fifth the size...

What’s Happening with Mortgage Rates, and Where Will They Go from Here?

Written by Treasure Island FL Mortgage Syndicated User on April 1, 2022. Posted in For Buyers, Housing Market Updates, Interest Rates, Mortgage Treasure Island FL, Pricing, Treasure Island FL Mortgage.

Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021 was steady compared to the rapid increase in mortgage rates this year: Just a few months ago, Freddie Mac projected mortgage rates would average 3.6% in 2022. Earlier this month, Fannie Mae forecast mortgage rates would average 3.8% in 2022. As the chart above shows, rates have already surpassed...

Owning Is More Affordable than Renting in the Majority of the Country

Written by Treasure Island FL Mortgage Syndicated User on February 1, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Mortgage Treasure Island FL, Pricing, Rent vs. Buy, Treasure Island FL Mortgage.

If you were thinking about buying a home this year, but already pressed pause on your plans due to rising home prices and increasing mortgage rates, there’s something you should consider. According to the latest report from ATTOM Data, owning a home is more affordable than renting in the majority of the country. The 2022 Rental Affordability Report says: “. . . Owning a median-priced home is more affordable than the average rent on a three-bedroom property in 666, or 58 percent, of the 1,154 U.S. counties analyzed for the report. That means major home ownership expenses consume a smaller portion...

Expert Insights on the 2022 Housing Market

Written by Treasure Island FL Mortgage Syndicated User on January 1, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage Treasure Island FL, Pricing, Treasure Island FL Mortgage.

As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022. Odeta Kushi, Deputy Chief Economist, First American: “Consensus forecasts put rates at about 3.7% by the end of next year. So, that’s still historically low, but certainly higher than they are today.” Danielle Hale, Chief Economist, realtor.com: “Affordability will increasingly be a challenge...

Housing Challenge or Housing Opportunity? It Depends.

Written by Treasure Island FL Mortgage Syndicated User on November 1, 2021. Posted in For Sellers, Housing Market Updates, Interest Rates, Mortgage Treasure Island FL, Move-Up Buyers, Pricing, Treasure Island FL Mortgage.

The biggest challenge in real estate today is the lack of available homes for sale. The low housing supply has caused homes throughout the country to appreciate at a much faster rate than what we’ve experienced historically. There are many reasons for the limited number of homes on the market, but as you can see in the graph below, we’re well below where we’ve been for most of the past 10 years. Today, across the country, there is only a 2.4-month supply of homes available for sale. The Opportunity This lack of homes for sale is creating a challenge for many buyers who are growing frustrated...

Category: Interest Rates

What Does the Rest of the Year Hold for the Housing Market?

What’s Happening with Mortgage Rates, and Where Will They Go from Here?

Owning Is More Affordable than Renting in the Majority of the Country

Expert Insights on the 2022 Housing Market

Housing Challenge or Housing Opportunity? It Depends.