interest rates: What To Look For From This Week’s Fed Meeting
- 11/06/24 08:14 AM
You may be hearing a lot of talk about the Federal Reserve (the Fed) and how their actions will impact the housing market right now. Here’s why. The Fed meets again this week to decide the next step with the Federal Funds Rate. That's how much it costs banks to borrow from each other. Now, that’s not the same thing as setting mortgage rates, but mortgage rates can be influenced through this process. And if you’re thinking about buying or selling a home, you may be wondering about the downstream impact and when mortgage rates will come down. Here’s a quick rundown of … (0 comments)
interest rates: Q&A: How Do Presidential Elections Impact the Housing Market?
- 11/01/24 08:21 AM
Even if you’re not looking to move right away, you may have questions about how the election will impact the housing market. When we look at historical trends, combined with what’s happening right now, we can find your answers. Based on historical data, mortgage rates decrease in the months before and home prices and sales increase the year after the election. The facts show Presidential elections only have a small and temporary impact on the housing market.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions expressed, in this article are not intended … (2 comments)
interest rates: The Benefits of Using Your Equity To Make a Bigger Down Payment
- 10/16/24 06:51 AM
Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too. According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see graph below): Here’s why equity makes this possible. Over the past five years, home prices have increased significantly, which … (2 comments)
interest rates: The Top 3 Reasons Affordability Is Improving
- 10/04/24 01:40 PM
Affordability is based on three key factors: mortgage rates, home prices, and wages. And today, it’s improving quickly as rates come down, prices level off, and wages climb. If you put your search on pause because it was too expensive to buy, let’s talk about why now may be the perfect time to jump back in.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or … (4 comments)
interest rates: This Is the Sweet Spot Homebuyers Have Been Waiting For
- 10/01/24 09:43 AM
After months of sitting on the sidelines, many homebuyers who were priced out by high mortgage rates and affordability challenges finally have an opportunity to make their move. With rates trending down, today’s market is a sweet spot for buyers—and it’s one that may not last long. So, if you’ve put your own move on the back burner, here’s why maybe you shouldn’t delay your plans any longer. As you weigh your options and decide if you should buy now or wait, ask yourself this: What do you think everyone else is going to do? The truth is, if mortgage rates continue to ease, as … (1 comments)
interest rates: Buy Now, or Wait?
- 09/27/24 10:07 AM
If you’re wondering if you should buy now or wait, here’s what you need to know. If you wait for rates to drop more, you’ll have to deal with more competition and higher prices as additional buyers jump back in. But if you buy now, you’d get ahead of that and have the chance to start building equity. Should you buy now or wait? Let’s talk through it together, so you can make your best decision.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions expressed, in this article are not intended to … (1 comments)
interest rates: Why Buying Now May Be Worth It in the Long Run
- 09/25/24 07:55 AM
Should you buy a home now or should you wait? That’s a question a lot of people have these days. And while what’s right for you is going to depend on a lot of different factors, here’s something you’ll want to consider as you make your decision. As soon as you buy, you’ll start gaining equity. And you’d be surprised how quickly that can add up – even with more moderate home price appreciation. Each quarter, Fannie Mae releases the Home Price Expectations Survey. It asks over one hundred economists, real estate experts, and investment and market strategists what they forecast for home … (4 comments)
interest rates: Lower Mortgage Rates Boost Your Buying Power
- 09/20/24 06:39 AM
Mortgage rates are trending down and that’s great news for your bottom line. As rates drop, your monthly payment on your next home does too. Even a small change in mortgage rates can have a big impact on your purchasing power. If you put your search on hold when mortgage rates were higher, think about how much you could save now that rates are coming down.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee … (1 comments)
interest rates: Falling Mortgage Rates Are Bringing Buyers Back
- 09/19/24 03:55 PM
If you’ve been hesitant to list your house because you’re worried no one’s buying, here’s your sign it may be time to talk with an agent. After months of high rates keeping buyers on the sidelines, things are starting to shift. Rates are already coming down due to a number of economic factors. And yesterday the Federal Reserve cut the Federal Funds Rate for the first time since they began raising that rate in March 2022. And while they don’t control mortgage rates, this sets the stage for mortgage rates to fall even further than they already have – especially since more … (2 comments)
interest rates: Mortgage Rates Drop to Lowest Level in over a Year and a Half
- 09/17/24 07:03 AM
Mortgage rates have hit their lowest point in over a year and a half. And that’s big news if you’ve been sitting on the homebuying sidelines waiting for this moment. Even a small decline in rates could help you get a better monthly payment than you would expect on your next home. And the drop that’s happened recently isn’t small. As Sam Khater, Chief Economist at Freddie Mac, says: “Mortgage rates have fallen more than half a percent . . . and are at their lowest level since February 2023.”But if you want to see it to really believe it, here’s how the … (2 comments)
interest rates: The Best Time To Buy a Home This Year
- 09/16/24 07:13 AM
A shift is underway in the housing market this season. And if you’ve been sitting on the sidelines waiting for the right moment to jump back into your homebuying search, this is a great time to do it. That’s because the best week to buy a home this year is just around the corner. Your sweet spot is here. The experts at Realtor.com study seasonal trends to figure out the ideal week for homebuyers: “Nationally, the best time to buy in 2024 is the week of Sept. 29–Oct. 5. This week historically has shown the best balance of market conditions that … (1 comments)
interest rates: Early Forecasts for the 2025 Housing Market Infographic
- 09/06/24 07:14 AM
Thinking about making a move in 2025 and wondering what you can expect? Here’s what expert forecasts say lies ahead. Mortgage rates will come down slightly. More homes will sell. And prices will rise more moderately. Let’s connect to go over what these forecasts mean for your move and what to expect from our local market in 2025. Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the … (2 comments)
interest rates: How the Federal Reserve’s Next Move Could Impact the Housing Market
- 09/04/24 08:25 AM
Now that it’s September, all eyes are on the Federal Reserve (the Fed). The overwhelming expectation is that they’ll cut the Federal Funds Rate at their upcoming meeting, driven primarily by recent signs that inflation is cooling, and the job market is slowing down. Mark Zandi, Chief Economist at Moody’s Analytics, said: “They’re ready to cut, just as long as we don’t get an inflation surprise between now and September, which we won’t.”But what does this mean for the housing market, and more importantly, for you as a potential homebuyer or seller? Why a Federal Funds Rate Cut MattersThe Federal Funds Rate is … (1 comments)
interest rates: How Mortgage Rate Changes Impact Your Homebuying Power
- 08/19/24 09:27 AM
If you’re thinking about buying or selling a home, you’ve probably got mortgage rates on your mind. That’s because you’ve likely heard that mortgage rates impact how much you can afford in your monthly mortgage payment, and you want to factor that into your planning. Here’s what you need to know. What’s Happening with Mortgage Rates?Mortgage rates have been trending down recently. While that’s good news for your homebuying plans, it’s important to know that rates can be unpredictable because they’re affected by many factors. Things like the economy, job market, inflation, and decisions made by the Federal Reserve all play a part. … (4 comments)
interest rates: Is Affordability Starting To Improve?
- 08/13/24 06:55 AM
Over the past couple of years, a lot of people have had a hard time buying a home. And while affordability is still tight, there are signs it's getting a little better and might keep improving throughout the rest of the year. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: “Housing affordability is improving ever so modestly, but it is moving in the right direction.”Here’s a look at the latest data on the three biggest factors affecting home affordability: mortgage rates, home prices, and wages. 1. Mortgage RatesMortgage rates have been volatile this year, bouncing around from the mid-6% … (4 comments)
interest rates: Mortgage Rates Down a Full Percent from Recent High
- 08/07/24 07:55 AM
Mortgage rates have been one of the hottest topics in the housing market lately because of their impact on affordability. And if you’re someone who’s looking to make a move, you’ve probably been waiting eagerly for rates to come down for that very reason. Well, if the past few weeks are any indication, you may be getting your wish. Mortgage Rates Trend Down in Recent WeeksThere’s big news for mortgage rates. After the latest reports on the economy, inflation, the unemployment rate, and the Federal Reserve’s recent comments, mortgage rates started dropping a bit. And according to Freddie Mac, they’re now at … (1 comments)
interest rates: Do Elections Impact the Housing Market?
- 06/20/24 03:15 PM
The 2024 Presidential election is just months away. As someone who’s thinking about potentially buying or selling a home, you’re probably curious about what effect, if any, elections have on the housing market. It’s a great question because buying or selling a home is a major decision, and it’s natural to wonder how such a major event might impact your plans. Historically, Presidential elections have only had a small, temporary impact on the housing market. Here’s the latest on exactly what’s happened to home sales, prices, and mortgage rates throughout those time periods. Home SalesDuring the month of November, in years when the Presidential … (3 comments)
interest rates: Worried About Mortgage Rates? Control the Controllables
- 06/18/24 04:15 PM
Chances are you’re hearing a lot about mortgage rates right now. You may even see some headlines talking about last week’s Federal Reserve (the Fed) meeting and what it means for rates. But the Fed doesn’t determine mortgage rates, even if the headlines make it sound like they do. The truth is, mortgage rates are impacted by a lot of factors: geo-political uncertainty, inflation and the economy, and more. And trying to pin down when all those factors will line up enough for rates to come down is tricky. That’s why it’s generally not worth it to try to time the … (1 comments)
interest rates: The Biggest Mistakes Buyers Are Making Today
- 05/30/24 06:28 AM
Buyers face challenges in any market – and today’s is no different. With higher mortgage rates and rising prices, plus the limited supply of homes for sale, there’s a lot to consider. But, there's one way to avoid getting tripped up – and that’s leaning on a real estate agent for the best possible advice. An expert’s insights will help you avoid some of the most common mistakes homebuyers are making right now. Putting Off Pre-approval As part of the homebuying process, a lender will look at your finances to figure out what they’re willing to loan you for your mortgage. … (4 comments)
interest rates: Sense and Seasonality: What prospective buyers should know about the US housing market
- 05/28/24 06:28 AM
Buying a home is exciting and a major investment piece to your portfolio. Together with Rocket Mortgage, Sherwood explores the new changes to buying a home and long-term trends of the housing market, equipping prospective buyers with actionable insights to take control of their home buying journey. Sherwood Studios 5/13/24 “Choose your realtor wisely”. “Never, ever become friends with the sellers”. “Don't buy your first home with the intention of securing your dream home”. In a round-up of tips from homeowners who have seen it all, this much is clear: first-time buyers have a lot to learn, and a lot to consider. … (1 comments)
You may be hearing a lot of talk about the Federal Reserve (the Fed) and how their actions will impact the housing market right now. Here’s why.
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