Rising Tides in Real Estate: Record Home Sales Amid Surging Rates
In March, contract signings for homes hit their highest point of the year, accompanied by an increase in new home sales. However, with mortgage rates now around 7%, there are concerns about future buyer hesitancy. The National Association of REALTORS® (NAR) reported a 3.4% increase in their Pending
Housing Market Outlook Brightens for 2024: Increased Inventory and Lower Mortgage Rates Signal a Shift Towards Greater Affordability
Despite recent challenges in housing affordability, as reported by Redfin, where only 15.5% of homes were affordable to the average U.S. household in 2023, the outlook for 2024 is promising. Contributing to the earlier scarcity were reduced listings and a spike in mortgage rates, but the landscape i
Historical Lows: Current Mortgage Rates Drop Below Average Norms
Are you a prospective home buyer who's been playing the waiting game, hoping for mortgage rates to dip even lower? It's time to reevaluate that strategy. This week, Freddie Mac reported that the 30-year fixed-rate mortgage averaged 6.6%, which is significantly lower than the long-term average of 7.
Categories
Recent Posts
