How Global Uncertainty Is Impacting Mortgage Rates

Written by Panama City Mortgage Mortgage Syndicated User on March 9, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage Panama City Beach, Panama City Beach Mortgage.

If you’re thinking about buying or selling a home, you’ll want to keep a pulse on what’s happening with mortgage rates. Rates have been climbing in recent months, especially since January of this year. And just a few weeks ago, the 30-year fixed mortgage rate from Freddie Mac approached 4% for the first time since May of 2019. But that climb has dropped slightly over the past few weeks (see graph below): The recent decline in mortgage rates is primarily due to growing uncertainty around geopolitical tensions surrounding Russia and Ukraine. But experts say it’s to be expected. Here’s a look...

4 Simple Graphs Showing Why This Is Not a Housing Bubble

Written by Panama City Mortgage Mortgage Syndicated User on February 18, 2022. Posted in Housing Market Updates, Interest Rates, Mortgage Panama City Beach, Panama City Beach Mortgage, Pricing.

A recent survey revealed that many consumers believe there’s a housing bubble beginning to form. That feeling is understandable, as year-over-year home price appreciation is still in the double digits. However, this market is very different than it was during the housing crash 15 years ago. Here are four key reasons why today is nothing like the last time. 1. Houses Are Not Unaffordable Like They Were During the Housing Boom The affordability formula has three components: the price of the home, wages earned by the purchaser, and the mortgage rate available at the time. Conventional lending...

The Top Indicator if You Want To Know Where Mortgage Rates Are Heading

Written by Panama City Mortgage Mortgage Syndicated User on February 3, 2022. Posted in First Time Home Buyers, For Buyers, Interest Rates, Mortgage Panama City Beach, Move-Up Buyers, Panama City Beach Mortgage.

Mortgage rates have increased significantly since the beginning of the year. Each Thursday, Freddie Mac releases its Primary Mortgage Market Survey. According to the latest survey, the average 30-year fixed-rate mortgage has risen from 3.22% at the start of the year to 3.55% as of last week. This is important to note because any increase in mortgage rates changes what a purchaser can afford. To give you an idea of how rising mortgage rates impact your purchasing power, see the table below: How Can You Know Where Mortgage Rates Are Headed? While it’s always difficult to know exactly where mortgage...

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

Written by Panama City Mortgage Mortgage Syndicated User on February 1, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Mortgage Panama City Beach, Panama City Beach Mortgage, 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 portion...

With Mortgage Rates Climbing, Now’s the Time To Act

Written by Panama City Mortgage Mortgage Syndicated User on January 20, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Panama City Beach, Move-Up Buyers, Panama City Beach Mortgage.

Last week, the average 30-year fixed mortgage rate from Freddie Mac jumped from 3.22% to 3.45%. That’s the highest point it’s been in almost two years. If you’re thinking about buying a home, this news may have come as a bit of a shock. But the truth is, it wasn’t entirely unexpected. Experts have been calling for rates to rise in their 2022 projections, and the forecast is now becoming a reality. Here’s a look at the projections from Freddie Mac for this year: Q1 2022: 3.4% Q2 2022: 3.5% Q3 2022: 3.6% Q4 2022: 3.7% As the numbers show, this jump in rates is in line with the expectations...

Sellers: Don’t Wait Until Spring To Make Your Move

Written by Panama City Mortgage Mortgage Syndicated User on January 19, 2022. Posted in For Sellers, Interest Rates, Mortgage Panama City Beach, Panama City Beach Mortgage, Pricing, Selling Myths.

As you plan out your goals for the year, moving up to your dream home may top the list. But, how do you know when to make your move? You want to time it just right so you can get the most out of the sale of your current house. You also want to know you’re making a good investment when you buy your new home. What you may not realize is, that opportunity to get the best of both worlds is already here. You don’t want to wait until spring to spring into action. The current market conditions make this winter an ideal time to move. Here’s why. 1. The Number of Homes on the Market Is Still Low Today’s...

Why Inflation Shouldn’t Stop You from Buying a Home in 2022

Written by Panama City Mortgage Mortgage Syndicated User on January 12, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Panama City Beach, Move-Up Buyers, Panama City Beach Mortgage, Pricing.

If you’re following along with the news today, you’re probably hearing a lot about record-breaking home prices, rising consumer costs, supply chain constraints, and more. And if you’re thinking about purchasing a home this year, all of these inflationary concerns are likely making you wonder if you should wait to buy. Investopedia explains that during a period of high inflation, prices rise across the board. And while home prices aren’t immune from this increase, here’s why inflation shouldn’t stop you from buying a home in 2022. Homeownership Offers Stability and Security Home prices have...

Why Waiting To Sell Your House Could Cost You a Small Fortune

Written by Panama City Mortgage Mortgage Syndicated User on January 6, 2022. Posted in For Sellers, Housing Market Updates, Interest Rates, Mortgage Panama City Beach, Move-Up Buyers, Panama City Beach Mortgage, Pricing, Selling Myths.

Many homeowners who plan to sell in 2022 may think the wise thing to do is to wait for the spring buying market since historically about 40 percent of home sales occur between April and July. However, this year’s expected to be much different than the norm. Here are five reasons to list your house now rather than waiting until the spring. 1. Buyers Are Looking Right Now, and They’re Ready To Purchase The ShowingTime Showing Index reports data from more than six million property showings scheduled across the country each month. In other words, it’s a gauge of how many buyers are out looking...

Expert Insights on the 2022 Housing Market

Written by Panama City Mortgage Mortgage Syndicated User on December 30, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage Panama City Beach, Panama City Beach Mortgage, Pricing.

As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022. Odeta Kushi, Deputy Chief Economist, First American: “Consensus forecasts put rates at about 3.7% by the end of next year. So, that’s still historically low, but certainly higher than they are today.” Danielle Hale, Chief Economist, realtor.com: “Affordability will increasingly be a challenge...

Homebuyers: Be Ready To Act This Winter

Written by Panama City Mortgage Mortgage Syndicated User on December 21, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Panama City Beach, Move-Up Buyers, Panama City Beach Mortgage.

To succeed as a buyer in today’s market, it’s important to understand which market trends will have the greatest impact on your home search. Danielle Hale, Chief Economist at realtor.com, says there are two factors every buyer should keep their eyes on: “Going forward, the conditions buyers face are primarily dependent on two things: mortgage rates and housing supply.” Here’s a look at each one. Mortgage Rates Projected To Rise in 2022 As a buyer, your interest rate directly impacts how much you’ll pay on your monthly mortgage when you purchase a home. Rates are beginning to rise, and experts...

Category: Interest Rates