Control the Controllables If You’re Worried About Mortgage Rates

Written by Deerfield Beach Mortgage Syndicated User on November 28, 2024. Posted in Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, Mortgage Rates.

Chances are you’re hearing a lot about mortgage rates right now, and all you really want to hear is that they’re coming back down. And if you’ve seen headlines about the early November Federal Funds Rate cut by the Federal Reserve (The Fed), maybe you got hopeful mortgage rates would start to decline right away. Although some media sources may lead you to believe that the Fed’s actions determine mortgage rates, in reality, they don’t. The truth is, the Fed, the job market, inflation, geopolitical changes, and a whole list of other economic factors influence mortgage rates, too. So, while recent...

Why Today’s Mortgage Debt Isn’t a Sign of a Housing Market Crash

Written by Deerfield Beach Mortgage Syndicated User on November 26, 2024. Posted in Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, Equity, Foreclosures, Mortgage Rates.

One major reason why we’re not heading toward a foreclosure crisis is the high level of equity homeowners have today. Unlike in the last housing bubble, where many homeowners owed more than their homes were worth, today’s homeowners have far more equity than debt.That’s a big part of the reason why even though mortgage debt is at an all-time high, this isn’t 2008 all over again. As Bill McBride, Housing Analyst for Calculated Risk, explains:“With the recent house price increases, some people are worried about a new housing bubble – but mortgage debt isn’t a concern . . .”Today’s homeowners are...

What’s Behind Today’s Mortgage Rate Volatility?

Written by Deerfield Beach Mortgage Syndicated User on November 21, 2024. Posted in Agent Value, Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, Economy, Mortgage Rates.

If you’ve been keeping an eye on mortgage rates lately, you might feel like you’re on a roller coaster ride. One day rates are up; the next they dip down a bit. So, what’s driving this constant change? Let’s dive into just a few of the major reasons why we’re seeing so much volatility, and what it means for you.The Market’s Reaction to the ElectionA significant factor causing fluctuations in mortgage rates is the general reaction to the political landscape. Election seasons often bring uncertainty to financial markets, and this one is no different. Markets tend to respond not only to who won,...

What’s Motivating Homeowners To Move Right Now

Written by Deerfield Beach Mortgage Syndicated User on November 13, 2024. Posted in Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, For Sellers, Mortgage Rates, Selling Tips.

Over the past few years, some homeowners have decided to delay their move because they don’t want to sell and take on a higher mortgage rate on their next home. Maybe you’re thinking the same thing. And honestly, that’s no surprise. It’s a very common roadblock and is one of the biggest factors that’s kept the number of homes on the market so low for so long. But a growing number of homeowners are deciding they just can’t wait any longer. Often, it’s because of personal or lifestyle change. As Redfin explains:“Some homeowners are opting to bite the bullet and give up their low rate in order...

What To Look For From This Week’s Fed Meeting

Written by Deerfield Beach Mortgage Syndicated User on November 7, 2024. Posted in Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, Economy, Mortgage Rates.

You may be hearing a lot of talk about the Federal Reserve (the Fed) and how their actions will impact the housing market right now. Here’s why.The Fed meets again this week to decide the next step with the Federal Funds Rate. That’s how much it costs banks to borrow from each other. Now, that’s not the same thing as setting mortgage rates, but mortgage rates can be influenced through this process. And if you’re thinking about buying or selling a home, you may be wondering about the downstream impact and when mortgage rates will come down.Here’s a quick rundown of what you need to know...

Q&A: How Do Presidential Elections Impact the Housing Market?

Written by Deerfield Beach Mortgage Syndicated User on November 2, 2024. Posted in Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, Economy, Home Prices, Infographics, Mortgage Rates.

Some HighlightsEven if you’re not looking to move right away, you may have questions about how the election will impact the housing market.When we look at historical trends, combined with what’s happening right now, we can find your answers. Based on historical data, mortgage rates decrease in the months before and home prices and sales increase the year after the election.The facts show Presidential elections only have a small and temporary impact on the housing market.

What To Expect from Mortgage Rates and Home Prices in 2025

Written by Deerfield Beach Mortgage Syndicated User on October 22, 2024. Posted in Affordability, Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, For Buyers, For Sellers, Home Prices, Mortgage Rates.

Curious about where the housing market is headed in 2025? The good news is that experts are offering some promising forecasts, especially when it comes to two key factors that directly affect your decisions: mortgage rates and home prices.Whether you’re thinking of buying or selling, here’s a look at what the experts are saying and how it might impact your move.Mortgage Rates Are Forecast To Come Down One of the biggest factors likely affecting your plans is mortgage rates, and the forecast looks positive. After rising dramatically in recent years, experts project rates will ease slightly...

Why Did More People Decide To Sell Their Homes Recently?

Written by Deerfield Beach Mortgage Syndicated User on October 18, 2024. Posted in Buying Tips, Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, For Buyers, Mortgage Rates.

Homeowners typically slow down their moving plans as the summer months wrap up, and as a result, fewer homes are listed for sale in the fall. It’s a predictable, seasonal trend in real estate. But this year, mortgage rates came down at the same time the number of homes on the market usually starts to decline. So, what happened? More homeowners decided to sell, so more homes came to the market.The most recent data from Realtor.com reveals that in September, the number of homes put up for sale increased by 11.6% compared to this time last year.As the green circle in the graph below shows, the...

The Benefits of Using Your Equity To Make a Bigger Down Payment

Written by Deerfield Beach Mortgage Syndicated User on October 17, 2024. Posted in Affordability, Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, Equity, For Buyers, Home Prices, Mortgage Rates.

Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too.According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see graph below):Here’s why equity makes this possible. Over the past five years, home prices have increased significantly, which has led...

Now’s the Time To Upgrade to Your Dream Home

Written by Deerfield Beach Mortgage Syndicated User on October 8, 2024. Posted in Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, Equity, For Sellers, Mortgage Rates.

If you’ve been wanting to sell your house and move up to a bigger or nicer home, you’re not alone. A recent Inman survey reveals the top motivator for today’s homebuyers is the desire for more space or an upgraded home (see graph below):But there’s also a good chance you, like many other people, have been holding off on that goal because of recent market challenges. It makes sense – when you’re planning an upgrade that could increase your monthly housing costs, affordability has a huge impact on when you make your move. But there’s good news: now’s actually a great time to make that move happen....

Category: Mortgage Rates