Borrowing Costs Jump as Rates Continue to Increase For the fourth consecutive week, mortgage rates surged, up more than 90 basis points in one month. Rates have jumped from 3.76% to 4.67% in just March alone, significantly increasing the borrowing costs for buyers, Nadia Evangelou, senior economist and director of forecasting at the National Association …
Tag: tips
Apr 04
Listing Prices Hit Highest Median Ever
Listing Prices Hit Highest Median Ever Listing prices rose to a median of $405,000 in March, an all-time high, according to realtor.com®’s latest Monthly Housing Trends Report. However, economists say that buyers may soon see relief with expectations of more inventory coming that could help relieve some of the pricing pressures. Housing inventory is expected …
Apr 01
Big Ask for Housing in Biden Budget
Big Ask for Housing in Biden Budget President Joe Biden requested historic funding for housing supply in his federal budget proposal for the fiscal year that begins October 1, 2022. The proposal was released Monday. A requested 34% increase over last year for the Department of Housing and Urban Development includes $50 billion in grants …
Mar 31
Affordable Places to Buy a Vacation Home
Affordable Places to Buy a Vacation Home Vacation homes remain a popular pandemic trend. More Americans have been warming up to the idea of being untethered from jobs with remote work and experiencing a growing desire for a family getaway home or potential rental revenue stream. Vacation homes remain in demand. But home prices have …
Mar 30
Follow these five steps to help guide you along your homebuying journey
Follow these five steps to help guide you along your homebuying journey! With our help, we can explore homebuying options to help you meet your goals. 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 …
Mar 30
Ways Buyers Can Sweeten Their Offers
Ways Buyers Can Sweeten Their Offers Competition is growing more intense heading into the spring season’s busy buying market. Buyers will continue to compete for a limited number of homes for sale. Real estate professionals recently discussed with realtor.com® how their buyers are getting their offers on a home to stand out, besides increasing the …
Mar 30
Happiest Cities in 2022
Happiest Cities in 2022 Location may play a big part in how happy you are. Some cities in the U.S. appear to have happier residents than others. For example, on the top 10 list, more cities were in California than any other state. WalletHub researchers used positive-psychology research to rank the nation’s 180 largest cities …
Mar 29
FHA, VA Loan Demand Drops on Higher Rates
FHA, VA Loan Demand Drops on Higher Rates First-time buyers and veterans may be facing increasing obstacles to affording homeownership. In response, mortgage applications for home purchases involving Federal Housing Administration and Veterans Affairs loans are falling. The loans tend to be popular with first-time buyers, veterans, and those with lower incomes less able to pay …
Mar 29
Mortgage Rates Surge to 4.42%
Mortgage Rates Surge to 4.42% Elevated inflation and the Federal Reserve’s monetary tightening policy drove the latest leap in mortgage rates this week. Since the beginning of this year, mortgage rates have jumped by 1.2%. The typical home buyer would need to spend $250 more every month to be able to purchase a home, Nadia …
Mar 28
New-Home Sales Softened in February
New-Home Sales Softened in February Material and labor shortages continue to constrain both new-home supply and sales, economists said as February saw another dip in new-home sales. Buyer demand remains high, but builders struggle to add greater inventory. Sales of new single-family homes reached a seasonally adjusted annual rate of 772,000 in February, down 2% from January …
Mar 28
Where Home Improvement Is Increasing
Where Home Improvement Is Increasing Home improvement spending is growing across the country and is expected to accelerate further in many of the nation’s largest cities this year, according to a report from Harvard University’s Joint Center for Housing Studies. Home improvement spending is expected to grow nearly 14% annually across all 48 major metro …
Mar 25
87.5M Buyers Priced Out
In the competitive market, many aspiring home buyers continue to be priced out, according to a new study from the National Association of Home Builders. About 87.5 million households are unable to afford a median-priced new home. If prices rise by just $1,000, an additional 117,932 people would be priced out, according to the NAHB’s …
