Mortgage Rates Move Up, Now Average 3% As the economy continues to strengthen, mortgage rates are heading upwards. The 30-year fixed-rate mortgage increased from its 2.94% average last week to 3% this week, Freddie Mac reports. “Mortgage rates are more likely to continue to rise than fall throughout the rest of 2021,” Nadia Evangelou, National …
Category: Real Estate Tips
May 25
Buyers Seek Larger Mortgages as Home Prices Surge
Buyers Seek Larger Mortgages as Home Prices Surge Home prices have significantly jumped over the past year, forcing home buyers to borrow more to keep up. The average mortgage purchase application reached $411,400, the highest since February, according to the Mortgage Bankers Association. The average loan for a new home rose to $377,000 last month, …
May 24
Metros With the Fastest, Slowest Internet Speeds
Metros With the Fastest, Slowest Internet Speeds More Americans are now reliant on fast internet as remote work and school and tech-enabled personal connections grew during the COVID-19 pandemic. House hunters even say fast internet and cell service are crucial as they shop for homes, new surveys show. Where you live may have a stake in …
May 24
Rents Post Largest Uptick Since COVID-19 Onset
Rents Post Largest Uptick Since COVID-19 Onset The median rent in the 50 largest metros nationwide increased 2.7% year over year, the largest growth since the beginning of the COVID-19 outbreak, according to a new report from realtor.com®. The nation’s largest tech hubs are seeing some of the biggest rebounds in rental prices as more …
May 19
Refinancing May Help you
Refinancing May Help you Tell a friend! Refinancing your home may lower your monthly payments! If you or anyone you know may benefit from refinancing, contact me and John Coneys of Freedom Mortgage (NMLS# 183853 – 610-322-4886). #RealEstate #Realtor #HomeReady #RefinanceToday #FreedomFast #PreApp #LetFreedomHelp
May 19
Mask Orders Lift, Investors Swoop in on Empty Offices, Hotels
Mask Orders Lift, Investors Swoop in on Empty Offices, Hotels The commercial real estate market is seeing prices rise as investors place bets on a return to the workforce and travel, even more quickly than they had expected. The Centers for Disease Control and Prevention recently issued new guidance that says vaccinated Americans no longer …
May 19
Where Property Taxes Are Highest
Where Property Taxes Are Highest Property taxes can vary considerably based on where you live. Homeowners in some metro areas pay thousands of dollars more per year than owners elsewhere. Home shoppers will want to factor in these added costs when they buy to avoid unexpected tax surprises. For example, the median real estate tax …
May 18
Cheapest Homes on the Market
Cheapest Homes on the Market Demand for homes in some of the lowest-cost neighborhoods in the country is surging in the red-hot housing market, prompting neighborhood revitalization projects to spread. U.S. ZIP codes where the median home price is less than $100,000 have posted a 42% jump in home values in the past three years, …
May 18
Half of Homes Sell Above List Price
Half of Homes Sell Above List Price Home buyers are facing relentless competition in the housing market, driven by low mortgage rates and inventory. According to the latest REALTORS® Confidence Index, based on real estate transactions nationwide in March, practitioners report an average of five offers on their most recent listing. In a separate report …
May 17
Bidding Wars Over Zoom?
Bidding Wars Over Zoom? Holly Meyer Lucas, a team leader of Meyer Lucas at Compass in South Florida, came up with an idea for bringing home bidding wars to Zoom to “open the playing field” for sellers and buyers. She believes it could provide more transparency in multiple offer situations if all bidders could meet …
May 17
Fast Home Sales Leave Some Sellers Homeless
Fast Home Sales Leave Some Sellers Homeless Homes are selling quickly and that has caused a problem for many home sellers. With housing inventories at record lows and buyer competition strong, home sellers are finding it difficult to purchase a new home to move in to before they must leave their existing home. Some sellers …
May 13
Get your home search off to the right start
Get your home search off to the right start Deciding to purchase a home is an exciting time, but it can also bring along a whole list of questions. With the help of myself and John Coneys of Freedom Mortgage, (NMLS# 183853 – 610.322.4886 you can get your home search off to the right start. …
