How Buying or Selling a Home Benefits the Economy and Your Community

Written by Palm Harbor FL Mortgage Syndicated User on June 1, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’re thinking of buying or selling a home, chances are you’re focusing on the many extraordinary ways it’ll change your life. But do you know it has a large impact on your community too? To measure that impact, the National Association of Realtors (NAR) releases a report each year to highlight just how much economic activity a home sale generates. The chart below shows how the sale of both a newly built home and an existing home impact the economy: As the visual shows, a single home sale can have a significant effect on the overall economy. To dive a level deeper, NAR also provides a detailed...

How To Approach Rising Mortgage Rates as a Buyer

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may be tempted to put your plans on hold in hopes that rates will fall, waiting will only cost you more. Mortgage rates are forecast to continue rising in the year ahead. If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise. How Rising Mortgage Rates Impact You Mortgage rates play a significant...

Why This Housing Market Is Not a Bubble Ready To Pop

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2022. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

Homeownership has become a major element in achieving the American Dream. A recent report from the National Association of Realtors (NAR) finds that over 86% of buyers agree homeownership is still the American Dream. Prior to the 1950s, less than half of the country owned their own home. However, after World War II, many returning veterans used the benefits afforded by the GI Bill to purchase a home. Since then, the percentage of homeowners throughout the country has increased to the current rate of 65.5%. That strong desire for homeownership has kept home values appreciating ever since. The...

Is It Enough To Offer Asking Price in Today’s Housing Market?

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’re planning to buy a home this season, you’re probably thinking about what you’ll need to do to get your offer accepted. In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiate and typically agree on a revised price that was somewhere between the buyer’s bid and the home’s initial asking price. In today’s real estate market, buyers shouldn’t shop for a home with the same expectations. Things Are Different Today Today’s housing market is anything but normal. According...

How Homeownership Can Help Shield You from Inflation

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

If you’re following along with the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to ensure they’re still worthwhile. If you’ve been thinking about purchasing a home this year, you’re probably wondering if you should continue down that path or if it makes more sense to wait. While the answer depends on your situation, here’s how homeownership can help you combat...

The Best Week To List Your House Is Just Around the Corner

Written by Palm Harbor FL Mortgage Syndicated User on April 1, 2022. Posted in For Sellers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Are you thinking about selling your house? If so, you may want to make it a priority to start the process soon. According to realtor.com, the sweet spot for sellers is just around the corner. In a recent study, experts analyzed housing market trends by looking at data from the past several years (excluding 2020, since it was an atypical year). When applied to the current market, experts determined the ideal week to list a house this year. The research says: “Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in...

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

Written by Palm Harbor FL Mortgage Syndicated User on April 1, 2022. Posted in For Buyers, Housing Market Updates, Interest Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, 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 surpassed...

A Key To Building Wealth Is Homeownership

Written by Palm Harbor FL Mortgage Syndicated User on April 1, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Rent vs. Buy.

The link between financial security and homeownership is especially important today as inflation rises. But many people may not realize just how much owning a home contributes to your overall net worth. As Leslie Rouda Smith, President of the National Association of Realtors (NAR), says: “Homeownership is rewarding in so many ways and can serve as a vital component in achieving financial stability.” Here are just a few reasons why, if you’re looking to increase your financial stability, homeownership is a worthwhile goal. Owning a Home Is a Building Block for Financial Success A recent...

What You Need To Know if You’re Thinking About Building a Home

Written by Palm Harbor FL Mortgage Syndicated User on April 1, 2022. Posted in For Buyers, Housing Market Updates, Move-Up Buyers, New Construction, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’re ready to move up, you may be trying to decide whether you want to buy a home that’s already on the market or build a new one. And since the supply of homes available for sale today is low, you’re willing to consider either avenue. While home builders are doing everything they can to construct more houses and help narrow the supply shortage, they’re also facing delays due to factors outside of their control. Here’s the latest on some of the key challenges homebuilders are experiencing today and how they could impact your plans to move up. When you know what’s happening in the industry,...

What You Can Expect from the Spring Housing Market

Written by Palm Harbor FL Mortgage Syndicated User on April 1, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune. Here’s a look at what experts say you can expect this spring. 1. Mortgage Rates Will Climb Freddie Mac reports the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite some...

Category: Housing Market Updates