2013: How Rising Prices Could Boost Housing Demand
We wish we could claim to be prescient, but it actually was a Wall Street Journal acticle. But look how accurate it was! This Spring most of the country was selling like it was a fire sale. Until inventory shortages slowed the market in the Summer. Then as pressure decreased and sellers began to add to most inventories, mortgage rates jumped over 1% and the market slowed even more. As … (6 comments)
mortgage rates: Why you should buy a house before 2014
- 09/21/13 03:55 AM
Why you should buy a house before 2014 "Reason #4: To Protect Yourself From Inflation Let's say you could strike a deal to pay today's prices for your milk, eggs, and gasoline for the next 30 years. You'd probably take that deal, right? It's a hedge against inflation, which is the price of goods and services increasing, and as a result, leaving you with less buying power. In much the same way, a 30-year, fixed-rate mortgage guards your mortgage against inflation, especially when you get it at today's low interest rates," Low Down Payment
High Cost of Renting … (4 comments)
mortgage rates: Interest Rates Put the Brakes on Buying; Now the FED Put the Brakes On Rates!
- 09/18/13 08:18 PM
Interest Rates Put the Brakes on Buying; Now the FED Put the Brakes On Rates! Buyers. Did you think you missed a chance of a liftime to buy a home while mortgage rates were at record lows? Well you may not be able to get those record rates, but thanks to the Federal Reserves recent decision not to curtail its bond buying, you may get the next best thing. But don't expect them to last long! Mortgage-bond yields plummet after Fed decides not to taper Federal Reserve credibility tested
Don't miss out again buyers! Call today! … (3 comments)
mortgage rates: Mortgage Rate at 2-year high - Home Sales Surge!
- 06/28/13 05:53 AM
30-year mortgage rate at 2-year high: 4.46% It took only a hint from Ben Bernanke that the Fed was thinking about when it would start curtailing the monthly $85 billion bond buyback to send markets in a tither! How long before it shuts buyers out of the market? Rates have jumped 1% in ~2 months increasing the cost of buyer a home by over 10%! NAR: Pending home sales surge to six-year high Buyer who are still on the fence better jump now! And sellers waiting for price appreciation may be unpleasantly surprised if the market reacts to higher rates and … (4 comments)
mortgage rates: Housing Recovery is “Precarious,” Says Economist Gary Shilling
- 06/22/13 11:20 PM
Housing Recovery is “Precarious,” Says Economist Gary Shilling Back in May we wrote: Case And Shiller Say Housing Is Better, Not Back To Booming - Not Our View! Is it the similarity in names? Gary Shilling is all doom and gloom in this interview. How about those who are actually working in the industry? Let's hear from real estate agents and mortgage lenders. Are you seeing doom and gloom out there? Is there anyone in the industry that does not have buyers looking for homes only to be disappointed that all the good ones are gone or have offers pending? If … (5 comments)
mortgage rates: Marion County Housing Market Continued to Rebound in May - Revised
- 06/22/13 05:03 AM
Marion County Housing Market Continued to Rebound in May - Revised We wanted to update this blog because we mis-quoted some information on mortgage rates. They did in fact on a single day break 4.0% But we usually quote the "weekly average rate". And that in fact dropped slightly to end the week at 3.93. Subsequent to these rates coming out however, the Federal Reserve Chairman issues his update which rocked the stock market and bond markets. Next week the rates are almost certainly going to be above 4.0%
At the time we thought we had seen th bottom for mortgage rates. But then the FED anounced QE3. When rates neared 4.0% we wondered if they would break that barrier. Then 3.5%!
Can they break 3.5%
How Low Can You Go?
We need Sellers! When rates go up to 6.5%; mortgage costs will increase 30% to buyers thus pricing many out of the market. Now is a great time to sell! … (1 comments)
mortgage rates: When will interest rates rise?
- 09/12/12 02:54 AM
I predicted a year ago that rates would go up and was proven wrong almost every week of 2011! I am now asking again as the end of 2012 looms near and I see articles talking about the plunge....
How long will low mortgage rates last?
Here's what was said earlier this year...
"The Federal Reserve has vowed to keep rates low through 2013 so rates likely will hang around for a few more months, at least, but whether mortgage rates will stay at the current record-lows, many experts say it’s unlikely.The 30-year fixed-rate … (2 comments)
The headlines should be screaming " U.S. Mortgage Rates score a perfect Ten and win the U.S. it's first Gold at the Summer Olympics"!
Rates are at historic lows and almost below the long range average inflation rate. That means that just normal inflationary appreciation will almost pay the interest on most loans.
… (2 comments)
mortgage rates: How Low Can You Go? Below 3.5%? No Way!
- 07/27/12 10:10 PM
How Low Can You Go? Below 3.5%? No Way! Yes Way! We wrote this only a few short weeks ago. When we looked at it and saw 3.79 and this week it is 3.49%!
Come on buyers what are you waiting for? This is a chance of a lifetime!
Original Post How Low Can You Go? How Low Can You Go? Did I just flash back 50 years? Mortgage rates fall to another record low WASHINGTON (AP) – Average rates for 30-year and 15-year fixed mortgages fell to record lows for a third straight week. The steady … (5 comments)
mortgage rates: Under Water Homes - And Lowball Appraisals Don't Help!
- 06/01/12 10:39 PM
Under Water Homes - And Lowball Appraisals Don't Help! This morning's article in the Wall Street Journal, Fighting Back Against Lowball Home Appraisals made me recall some recent similar appraisal issues with home purchases. The story above is about a couple who want to refinance and the first appraisal would put them under water. With interest rates continuing to set record lows, who would not want to re-fi? A recent home sale fell through because the appraiser came in low. For comparables she use 3 short sales and made no adjustment claiming "that a buyer expects to pay short sale … (8 comments)
mortgage rates: How Low Can You Go?
- 05/18/12 03:37 AM
How Low Can You Go? Did I just flash back 50 years? Mortgage rates fall to another record low WASHINGTON (AP) – Average rates for 30-year and 15-year fixed mortgages fell to record lows for a third straight week. The steady decline has made home-buying and refinancing more affordable than ever for those who can qualify. Mortgage buyer Freddie Mac says the average rate on 30-year loans dipped to 3.79%. That's down from 3.83% last week and the lowest since long-term mortgages began in the 1950s.
Housing affordability reaches record high ! The National Association of Realtors says its … (2 comments)
The Perfect Storm is a film about a true story when 3 storms colided in the North Atlantic. Three storms in housing are about to colide as well! 1) Is housing as cheap as it’ll ever get? "Homebuyers who want a bargain may want to act now because the housing market is in the midst of a turnaround, economists say.Home prices have fallen and mortgage rates are hovering near record lows, pushing home affordability for the average family to … (8 comments)
03/27/2012 - Update The last two weeks seem to indicate that sooner or later rates will go up. And it looks like sooner !!
Mortgage rates up I predicted a year ago that rates will go up and was proven wrong almost every week of 2011! Now others are predicting it and have actually put some numbers on it!
How long will low mortgage rates last?
"The Federal Reserve has vowed to keep rates low through 2013 so rates likely will hang … (5 comments)
I predicted a year ago that rates will go up and was proven wrong almost every week of 2011! Now others are predicting it and have actually put some numbers on it!
How long will low mortgage rates last?
"The Federal Reserve has vowed to keep rates low through 2013 so rates likely will hang around for a few more months, at least, but whether mortgage rates will stay at the current record-lows, many experts say it’s unlikely.The 30-year fixed-rate mortgage is expected to inch up to an … (7 comments)
mortgage rates: How Low Can They Go? How Low Can You Go?
- 10/01/11 06:15 AM
How Low Can They Go? Anyone close to my age may remember the Limbo dance craze. Remember "How Low Can you Go?" Well now it is mortgage rates! How Low Can They Go? Rate on 30-year mortgage falls to record 4.01% Of course in my area of Ocala & Marion County Florida, the same could be said of home prices. But there is strong indcation that the bottom has been reached. In fact on the lower end, homes are selling 20-30% below builder and replacement costs. Multiple offers and competition with investors is frustrating many first time home buyers. In my opinion, … (3 comments)
Is now the time to sell your home in Ocala and Marion County? Yes! Here's Why! Yes! Now the time to buy your home in Ocala and Marion County! But there are a surprisingly large number of buyers who are sitting on the fence. 1. Think owning a home is expensive? You can buy the median priced home in Ocala and Marion County for less than $450 per month. Less than $600 including taxes and … (0 comments)
mortgage rates: Tired of Paying Rent? Tired of Paying Your Landlord's Mortgage?
- 09/05/11 08:01 AM
Tired of Paying Rent? Tired of Paying Your Landlord's Mortgage? How much do you pay per month of rrent? $700? $800? $1000? How would you like to buy a like new house in Ocala & Marion County for only $700 per month? Mortgage rates are still near historic lows. Yes that is right! $700 per month buys the average priced home in Marion County including principal, interest, taxes and insurance. Start building some equity! Call 352-547-1074, or email Bob&BobtheRealtor.net! Or visit BobtheRealtor.net and search for ALL homes in Marion County and surrounding areas. This not only makes it a great time to buy, … (2 comments)
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2013: How Rising Prices Could Boost Housing Demand - Looking Back!
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