For the third time this year, the Federal Reserve hiked their Fed Funds Rate. This time by 0.75%. The benchmark rate is now at 1.75%. This is the first time in 28 years that the Federal Reserve has raised their … Read More
Thursday – June 9, 2022 Home borrowing costs increased this week after several weeks of declines. Freddie Mac reports that the 30-year fixed-rate mortgage rose to 5.23% this week from 5.09% last week with an average of 0.9 in points … Read More
There has been a lot of news lately about how it is “not a good time” to buy property. We’re here to argue differently. Fannie Mae reports that would-be homebuyers are feeling the squeeze of higher home prices and mortgage … Read More
Thursday – June 2, 2022 Private payroll growth was sluggish in May, the slowest gain in two years. ADP Private Payrolls rose 128,000 in May versus the 300,000 expected and down from 202,000 in April which was revised from 247,000. … Read More
Thursday – May 26, 2022 Home borrowing costs fell again this week after the significant rise seen since a year ago. Freddie Mac reports that the 30-year fixed-rate mortgage slipped to 5.10% from 5.25% last week with an average of … Read More
Thursday – May 19, 2022 Existing Home Sales fell 2.4% in April from March to an annual rate of 5.61 million units versus 5.65 million expected and fell three months in a row. Sales were down 5.9% from April 2021. … Read More
Home prices are soaring. Bidding wars. Rising interest rates. Those are the negatives we are been hearing over and over again. But today, let’s talk about the good news in real estate. Over 45% of homeowners are considered “equity rich”. … Read More
Thursday – May 12, 2022 Home borrowing costs inched higher last week and are up big from a year ago. Freddie Mac reports that the 30-year fixed-rate mortgage rose to 5.30% this week from 5.27% last week with an average … Read More
Price shock is nothing new in the real estate market within the last two years. Home prices nationwide rose a record 20.9% from March 2021 to March 2022. Monthly, prices rose 3.3% from February to March. Looking ahead, home prices … Read More
Wednesday – May 4, 2022 Mortgage rates finally paused last week from their torrid run higher since the beginning of the year. The 30-year fixed-rate mortgage rose was unchanged at 5.36% with 0.63 points for the week ended April 29, … Read More