The interest rate on the 30-year fixed mortgage fell this week, offering relief to home buyers who are reeling from escalating costs. The quick rise in mortgage rates over the last few weeks is taking a pause. The 30-year fixed-rate mortgage averaged 5.7% this week, dropping from last week’s 5.81%, according to Freddie Mac. Still, …
Tag: Anthony DiDonato
Feb 29
Home Buying Is 5% Cheaper Than a Week Ago
Mortgage rates are dropping as concerns mount over a possible economic recession. Mortgage rates are falling—at least for now—after posting rapid jumps in June. Over the last two weeks, the 30-year fixed-rate mortgage has dropped by one-half of a percentage point. Home buying is about 5% more affordable than a week ago, translating to about …
Feb 29
Broomall PA. Home – 4 Dorset Drive, Broomall PA. 19008
4 Dorset Drive, Broomall PA. 19008 Listing courtesy of Chris Carr – HomeZu $599,000 Est. Mortgage $4,157/mo*4 Beds 2 Baths1520 Sq. Ft. Description about this home for sale at 4 Dorset Drive, Broomall PA. 19008 Nestled within the sought-after Lawrence Park neighborhood of Broomall, PA, this impeccably updated split-level home offers a harmonious blend of …
Feb 28
Fed Inflation Policy May Catapult Mortgage Rates
With inflation reaching a new high in June, the Federal Reserve will likely take more aggressive action. And that could influence even higher mortgage rates, says NAR Chief Economist Lawrence Yun. Inflation rose to a new 40-year high in June and is accelerating even faster than expected, according to data from the Bureau of Labor …
Feb 28
Volatility in Mortgage Rates as Recession Fears Grow
Borrowing costs tick up again as the Federal Reserve’s inflation policy has economists bracing for even higher rates in the future. Mortgage rates are showing volatility as the economy slows and recession fears take center stage. The 30-year fixed-rate mortgage rose to an average of 5.51% this week, up from 5.3% last week, according to …
Feb 28
New Listing Broomall Home – 79 2nd Ave, Broomall, PA. 19008
79 2nd Ave, Broomall, PA. 19008 Listing courtesy of Richard Diprimio – Keller Williams Real Estate – West Chester $405,000 Est. Mortgage $2,803/mo*3 Beds2 Baths1250 Sq. Ft. Description about this home for sale at 79 2nd Ave, Broomall, PA. 19008 Welcome to 79 2nd Avenue in Broomall! This well maintained, 3 bed, 2 bath home …
Feb 27
Mortgage Rates Rise
The Federal Reserve is expected to raise its key benchmark rate this coming week. What impact could it have on mortgage rates? Mortgage rates rose slightly this week ahead of the Federal Reserve’s highly anticipated meeting next Tuesday, when it is expected to increase its benchmark rate by up to a full percentage point. What …
Feb 27
Inching Closer to Recession
The next downturn may be different than the last. Look to commercial real estate for clues about the direction of the economy. The U.S. gross domestic product contracted in the first quarter by 1.5%. The stock market has been tumbling. Inflation is stubbornly high. The Federal Reserve plans to continue raising interest rates. Pending home …
Feb 27
Jersey Shore / Sea Isle City Home – 3500 Boardwalk #924 N, Sea Isle City, NJ. 08243
3500 Boardwalk #924 N, Sea Isle City, NJ. 08243 Listing courtesy of Jennifer Denunzio – SEA ISLE REALTY $829,000 Est. Mortgage $5,971/mo*2 Beds2 Baths1050 Sq. Ft. Description about this home for sale at 3500 Boardwalk #924 N, Sea Isle City, NJ. 08243 Penthouse in the North Tower! Welcome to “The Spinnaker” condominium building, one of …
Feb 26
Dip in Mortgage Rates Little Consolation to Squeezed Buyers
Record-high home prices, declining consumer confidence and fears of recession are taking their toll on aspiring homeowners. With volatile mortgage rates driving home buyers from the market, economists are skeptical that a dip in borrowing costs this week will have a meaningful impact. The 30-year fixed-rate mortgage fell to an average of 5.3%—still nearly double …
Feb 26
Sea Isle City Home – 333 E 39th St. #1, Sea Isle City, NJ. 08243
333 E 39th St. #1, Sea Isle City, NJ. 08243 Listing courtesy of Mary Dorman – COASTAL ELITE REALTY $1,399,999 Est. Mortgage $8,688/mo*5 Beds4 Baths1984 Sq. Ft. Description about this home for sale at 333 E 39th St. #1, Sea Isle City, NJ. 08243 Welcome to your dream beach townhome which is located in a …
Feb 26
Jersey Shore / Sea Isle Home – 365 47th PL. Sea Isle City, NJ. 08243
365 47th PL. Sea Isle City, NJ. 08243 Listing courtesy of Marie Lepera – BHHS FOX and ROACH-Brigantine $3,150,000 Est. Mortgage $19,455/mo*Studio Description about this home for sale at 365 47th PL. Sea Isle City, NJ. 08243 NEW BAYFRONT BUILD-OUT OPPORTUNITY! Build your dream single family home or side-by-side townhome on this highly desirable lot …
