Florida Mortgage | Mortgage Applications Are Surging as Rates Fall
NMLS ID 1834853 #floridamortgage #floridamortgagerates #floridamortgagecompany #mortgagerates #mortgage
Have you seen headlines talking about the increase in foreclosures in today’s housing market? If so, they may leave you feeling a bit uneasy about what’s ahead. But remember, these clickbait titles don’t always give you the full story.The truth is, if you compare the current numbers with what usually happens in the market, you’ll see there’s no need to worry.Putting the Headlines into PerspectiveThe increase the media is calling attention to is misleading. That’s because they’re only comparing the most recent numbers to a time where foreclosures were at historic lows. And that’s making it sound...
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 rates,...
Why the Price of Your House Matters When Selling. The asking price for your house can greatly affect your bottom line and how fast your house sells. Let’s connect so we can find the right price for your house. NMLS ID 1834853 #floridamortgage #floridamortgagerates #floridamortgagecompany #homesellingtips
Some HighlightsHome affordability depends on three factors: mortgage rates, home prices, and wages.Mortgage rates are down from their recent peak, home prices are expected to rise at a slower pace, and wages are increasing faster than usual.That’s good news if you want to buy a home because it means affordability is getting better.
Have you ever heard the term “Silver Tsunami” and wondered what it’s all about? If so, that might be because there’s been lot of talk about it online recently. Let’s dive into what it is and why it won’t drastically impact the housing market.What Does Silver Tsunami Mean?A recent article from HousingWire calls it:“. . . a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging . . .”The thought is that as baby boomers grow older, a significant number will start downsizing their homes. Considering how large that generation is, if these...
Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind? If so, you’re not alone. More buyers are choosing to go this route and buy a multi-generational home. Here’s a look at some of the top reasons why, to see if a home like this may be right for you too.Why Buyers Are Opting for Multi-Generational LivingAccording to the National Association of Realtors (NAR), two of the top reasons buyers are opting for multi-generational homes today have to do with affordability (see graph below):First-time buyers are focused most on cost savings...
Experts Forecast Home Prices Will Go Up Over the Next 5 Years NMLS ID 1834853 #floridamortgage #floridamortgagerates #floridamortgagecompany #homebuyingtips
Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline over the next 12 months. That means almost one out of every four people are dealing with that fear, and you might be, too.To help ease that concern, here’s what experts forecast will happen with prices this year.Experts Project a Modest IncreaseCheck out the latest home price forecasts from eight different sources (see graph below):The blue bar on the left means, on average, experts...