A recent string of lower mortgage rates have helped to thaw the housing market, with an uptick in sales indicating that they are no longer the roadblock they were in late 2022. According to Freddie Mac's Primary Mortgage Market Survey, the average rate for a 30-year fixed-rate mortgage fell to 6.13% for the week ending [...]
The housing market in 2023 continues to look better for home buyers who have been waiting to get back in the game due to the rate volatility last year. According to many experts, this could be the year of relief and opportunities for those looking to purchase a home. Gone are the days of fierce [...]
A recent Redfin report revealed exciting news for homebuyers: a record 41.9% of home sellers offered concessions in Q4 of 2022! This means that more and more sellers are offering incentives such as money for repairs and mortgage-rate buydowns to help buyers make the purchase. This is the highest increase in any three-month period since July [...]
Last year, the real estate market was so competitive that buyers had to pay above asking prices and negotiate hard to get favorable terms. Today's housing market is much more favorable for buyers, with more room for negotiation and discounts. This sets the stage for a great opportunity! Inflation is starting to ease, [...]
Recently, the Federal Reserve (Fed) raised the Fed Funds Rate by 0.5%, marking the seventh rate hike of the year. Now, you may be wondering how this could be good news for the housing market (affects mortgage rates)! It's important to note that the Fed Funds Rate is the overnight borrowing rate for banks, and it [...]