Why We Aren’t Headed for a Housing Crash

Written by Emerald Coast Mortgage Syndicated User on March 1, 2024. Posted in Emerald Coast Mortgage, Housing Market Updates, Interest Rates, Mortgage Emerald Coast, Pricing.

If you’re holding out hope that the housing market is going to crash and bring home prices back down, here’s a look at what the data shows. And spoiler alert: that’s not in the cards. Instead, experts say home prices are going to keep going up.Today’s market is very different than it was before the housing crash in 2008. Here’s why.It’s Harder To Get a Loan Now – and That’s Actually a Good ThingIt was much easier to get a home loan during the lead-up to the 2008 housing crisis than it is today. Back then, banks had different lending standards, making it easy for just about anyone to qualify...

Don’t Wait Until Spring To Sell Your House

Written by Emerald Coast Mortgage Syndicated User on February 1, 2024. Posted in Emerald Coast Mortgage, For Sellers, Interest Rates, Mortgage Emerald Coast.

As you think about the year ahead, one of your big goals may be moving. But, how do you know when to make your move? While spring is usually the peak homebuying season, you don’t actually need to wait until spring to sell. Here’s why.1. Take Advantage of Lower Mortgage RatesLast October, the 30-year fixed mortgage rates peaked at 7.79%. In January, they hit their lowest level since May. That means you may not feel as locked-in to your current mortgage rate right now. That downward trend in rates has made moving more affordable now than it was just a few months ago.Another reason...

2 of the Factors That Impact Mortgage Rates

Written by Emerald Coast Mortgage Syndicated User on February 1, 2024. Posted in Emerald Coast Mortgage, For Buyers, Interest Rates, Mortgage Emerald Coast.

If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why?The answer is complicated because there’s a lot that can influence mortgage rates. Here are just a few of the most impactful factors at play.Inflation and the Federal ReserveThe Federal Reserve (Fed) doesn’t directly determine mortgage rates. But the Fed does move the Federal Funds Rate up or down in response to what’s happening with inflation, the economy, employment...

How Inflation Affects the Housing Market

Written by Emerald Coast Mortgage Syndicated User on September 1, 2023. Posted in Emerald Coast Mortgage, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage Emerald Coast.

Have you ever wondered how inflation impacts the housing market? Believe it or not, they’re connected. Whenever there are changes to one, both are affected. Here’s a high-level overview of the connection between the two.The Relationship Between Housing Inflation and Overall InflationShelter inflation is the measure of price growth specific to housing. It comes from a survey of renters and homeowners that’s done by the Bureau of Labor Statistics (BLS). The survey asks renters how much they’re paying in rent, and homeowners how much they’d rent their homes for, if they weren’t living in...

Ways To Overcome Affordability Challenges in Today’s Housing Market [INFOGRAPHIC]

Written by Emerald Coast Mortgage Syndicated User on May 1, 2023. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Infographics, Interest Rates, Mortgage Emerald Coast, Move-Up Buyers, Pricing.

Some HighlightsWith so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget.You can also work with a trusted lender to consider alternative financing options and search for down payment assistance.If you’ve been searching for a home but are concerned about rising costs, make sure you have a team of trusted real estate professionals for expert advice.

The Three Factors Affecting Home Affordability Today

Written by Emerald Coast Mortgage Syndicated User on May 1, 2023. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Emerald Coast, Move-Up Buyers, Pricing.

There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determined by a combination of mortgage rates, home prices, and wages.Considering how each one of these factors is changing gives you the full picture of home affordability today. Here’s the latest.1. Mortgage RatesWhile mortgage rates are higher than they were a year ago, they’ve hovered primarily between...

What You Should Know About Rising Mortgage Rates

Written by Emerald Coast Mortgage Syndicated User on March 1, 2023. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Emerald Coast, Move-Up Buyers.

After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to purchase a home this year, you too may be wondering if now’s the right time to buy or if you should hold off on your search until rates come back down.

What Does the Rest of the Year Hold for the Housing Market?

Written by Emerald Coast Mortgage Syndicated User on June 1, 2022. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage Emerald Coast, Move-Up Buyers.

If you’re thinking of buying or selling a house, you’re at an exciting decision point. And anytime you make a big decision like that, one thing you should always consider is timing. So, what does the rest of the year hold for the housing market? Here’s what experts have to say. The Number of Homes Available for Sale Is Likely To Grow There are early signs housing inventory is starting to grow and experts say that should continue in the months ahead. According to Danielle Hale, Chief Economist at realtor.com: “The gap between this year’s homes for sale and last year’s is one-fifth the size...

What’s Happening with Mortgage Rates, and Where Will They Go from Here?

Written by Emerald Coast Mortgage Syndicated User on April 1, 2022. Posted in Emerald Coast Mortgage, For Buyers, Housing Market Updates, Interest Rates, Mortgage Emerald Coast, Pricing.

Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021 was steady compared to the rapid increase in mortgage rates this year: Just a few months ago, Freddie Mac projected mortgage rates would average 3.6% in 2022. Earlier this month, Fannie Mae forecast mortgage rates would average 3.8% in 2022. As the chart above shows, rates have already...

Owning Is More Affordable than Renting in the Majority of the Country

Written by Emerald Coast Mortgage Syndicated User on February 1, 2022. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Interest Rates, Mortgage Emerald Coast, Pricing, Rent vs. Buy.

If you were thinking about buying a home this year, but already pressed pause on your plans due to rising home prices and increasing mortgage rates, there’s something you should consider. According to the latest report from ATTOM Data, owning a home is more affordable than renting in the majority of the country. The 2022 Rental Affordability Report says: “. . . Owning a median-priced home is more affordable than the average rent on a three-bedroom property in 666, or 58 percent, of the 1,154 U.S. counties analyzed for the report. That means major home ownership expenses consume a smaller...

Category: Interest Rates