Buyers Pause Amid Rising Rates Some home buyers are backing away from the market, with a plan to wait six or even 12 months before they resume their search, according to a new survey of 900 real estate professionals conducted by HomeLight. About 35% of real estate professionals reported that they have seen buyers drop …
Tag: Real Estate
Jun 14
Homeowners See 12-Month Equity Gain of $64K
Homeowners See 12-Month Equity Gain of $64K Rising home prices keep pushing up equity for homeowners. The average homeowner gained about $64,000 in equity from the first quarter of 2021 to the first quarter of this year, according to a new report from CoreLogic. About 62% of all properties nationwide saw an increase in annualized …
Jun 14
Mortgage Rates Turn Upward Again
Mortgage Rates Turn Upward Again Following three weeks of declines, mortgage rates reversed course and headed back up this week. The 30-year fixed-rate mortgage averaged 5.23% for the week ending June 9; a year ago, it averaged below 3%. Increased economic activity and incoming inflation data were behind the most recent rate increases this week, …
Jun 13
Second-Home Hot Spots
Second-Home Hot Spots Many booming second-home locations are seeing a rapid growth in rentals. The pandemic spawned demand for second homes as an increase in remote work options prompted more Americans to relocate to resort areas. Prices in second-home hot spots have soared, and so have the rental prices. Average rental prices increased 17.1% year …
Jun 13
Buyers Boost Spending on Remodeling
Buyers Boost Spending on Remodeling Home buying is good for the economy. Each home purchase triggers significant spending on furnishings, appliances and remodeling. A recent study from the National Association of REALTORS® estimated that, in 2021, the housing market generated a median of about $113,000 in economic impact per home sale. Read more: How Home …
Jun 10
Buyers May Be Gaining Leverage
Buyers May Be Gaining Leverage A turning point may be occurring in the housing market. Fewer people were searching for “homes for sale” on Google during the week ending May 21, down 10% from a year earlier. Home tour activity is falling slightly, mortgage purchase applications are down 14% compared to a year earlier, and, …
Jun 09
Will you be moving soon?
Check out this handy moving check list to ensure moving day is less of a hassle! 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
Jun 09
Benefits of Pre-Approvals
Are you ready to buy a new home? Get pre-approved today! 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
Jun 08
HUD Program Takes Aim at Housing Supply Crisis
HUD Program Takes Aim at Housing Supply Crisis The Department of Housing and Urban Development announced a new program to help remedy the nation’s housing supply shortage by boosting affordable housing. HUD’s “Our Way Home” initiative sets out to increase housing supply by helping local communities preserve and add affordable housing in their area for …
Jun 07
Credit tips when applying for a mortgage.
Buying a home is easy when you have great credit! Follow these six credit tips to help ensure you have a smooth mortgage experience. 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
Jun 07
What is Debt to income?
Calculating your Debt-To-Income ratio (DTI) is one of the simplest ways to get a handle on your financial health. 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
Jun 06
Mortgage Applications Are Falling
Mortgage Applications Are Falling The housing market is showing more signs of slowing. Purchase applications fell 1% last week compared to the previous week and volume is now 14% lower than a year ago, the Mortgage Bankers Association’s latest index shows. Overall, mortgage demand, which includes applications for refinancings and home purchases, has fallen to …
