Mortgage Rates Reach Highest Levels Since 2009 The 30-year fixed rate mortgage averaged 2.96% just a year ago; this week, it averages 5.27%, Freddie Mac reports. “Mortgage rates resumed their climb this week as the 30-year fixed reached its highest point since 2009,” said Sam Khater, Freddie Mac’s chief economist. “While housing affordability and inflationary …
Tag: Anthony DiDonato
May 09
Top 10 Destinations for Out-of-State Movers
Top 10 Destinations for Out-of-State Movers Home shoppers’ interest in relocating to a different state is on the rise, finds a new survey from realtor.com®. During the first quarter, 40.5% of prospective buyers searching for homes for sale on realtor.com® were looking for homes outside of their current state. “After two years of pandemic remote …
May 09
Fed Raises Rate: What It Means for Housing
Fed Raises Rate: What It Means for Housing The Federal Reserve voted on Wednesday to raise its target short-term federal funds rate by a half-point. That marks the largest increase in the Fed’s rate in more than two decades and suggests higher mortgage rates will follow. The Fed’s latest action looks to control inflation, which …
May 06
Rainy Days Could Be Best for Home Showings
Rainy Days Could Be Best for Home Showings Although real estate pros know many buyers may be tempted to cancel a home tour if the weather is nasty weather, they say rainy days are actually the best circumstances to view homes. Gail Hardy, a real estate pro in Knoxville, talks about the advantages of touring …
May 06
The Impact of High Mortgage Rates
The Impact of High Mortgage Rates The sharp rise in mortgage rates this year has added hundreds of dollars to new monthly mortgage payments. In fact, climbing rates have caused the monthly amount of a new mortgage payment to increase by an average of $258.57. That equals an average of an extra $3,102.84 per year and …
May 05
Asian American Homeownership Rates Rebound
Asian American Homeownership Rates Rebound Homeownership is a big part of the American dream for Asian Americans, according to a new report from realtor.com® that coincides with Asian American & Pacific Islander Heritage Month. Their presence in the real estate market has been rebounding sharply after having decreased during the early stages of the pandemic. …
May 05
Great Resignation Leads to Real Estate Rush
Great Resignation Leads to Real Estate Rush Since the pandemic began, a “Great Resignation” has taken root as people left their jobs. Many of them apparently may be shifted careers to real estate. From January 2021 to January 2022, the top trending career search entry was “how to become a real estate agent,” according to …
May 05
Start Your New Home Journey
Start Your New Home Journey Getting pre-approved is crucial first step when searching for your dream home! With the help of myself and Katy Sychterz of RoundPoint Mortgage, (NMLS# 183951 – 484.534.5107) we can explore homebuying options to help you meet your goals. #RealEstate #Realtor #HomePurchase #BuyersMarket #PlymouthMeetingRP
May 04
US Metros See Major Price Appreciation
US Metros See Major Price Appreciation Homeowners may be shocked by what their home is now worth. In the first quarter, 70% of the largest metros in the U.S. posted double-digit price growth in median single-family existing-home sales prices, the National Association of REALTORS® reported Tuesday. The median sales price of a single-family existing home …
May 04
Homeowners Undeterred By Rising Costs for Remodeling
Homeowners Undeterred By Rising Costs for Remodeling Forty-year-high inflation and supply chain challenges aren’t ruining homeowners’ plans to spruce up their homes, finds a new survey from Nationwide of 1,000 homeowners. Seventy-one percent of homeowners who have upcoming house projects say they expect to proceed with them despite higher costs, delayed timelines, and the limited …
May 03
Common Inspection Problems Uncovered in New Homes
Common Inspection Problems Uncovered in New Homes About 14% of new home buyers—or one in seven—forgo a home inspection, a survey finds from Clever Real Estate. Buyers are more likely to hire a home inspector when purchasing an existing home. But new homes can turn up problems too. For those who did do an inspection, 65% …
May 03
States Where the Middle Class Lives Comfortably
States Where the Middle Class Lives Comfortably The middle class comprises the largest economic group in the country. It’s also a segment that has been increasingly cost-burdened in real estate, often paying more than 30% of their income toward housing. Its members are in search of affordable housing markets, bolstered by a strong job market—middle-class …
