Cut through the online clutter and armchair quarterbacking of the real estate industry with these ten predictions from Windermere Real Estate Chief Economist Matthew Gardner. This article appeared in Inman, Hickman-Coen Home Team is a subscriber.
The average 30-year-fixed rate mortgage declined to 3.76% for the week ending March 3, down from 3.89% in the previous week, amid the geopolitical tensions caused by Russia’s war in Ukraine, according to the latest Freddie Mac PMMS Mortgage Survey.
Freddie Mac released its latest Primary Mortgage Market Survey (PMMS), which showed a notable uptick, as the 30-year fixed-rate mortgage (FRM) averaged 3.69%. This upward climb reignites flat movement over three weeks prior.
Last year was one for the real estate history books. The pandemic helped usher in a buying frenzy that caused home prices to soar nationwide by a record 19.9%. However, there were signs in the fourth quarter that the red-hot housing market was beginning to simmer down. In the month of October, only 60.3% of sales involved a bidding war—down from a high of 74.5% in April.2
August 17th, Real Estate News for Homeowners, by the Hickman-Coen Home Team. Lead Article: 5 Factors That Reveal Where the Real Estate Market Is Really Headed
Forbearances have stayed well under the rate experts initially forecasted. Let’s connect if you have questions about your options.
With a quickly changing market and low inventory, homes are selling faster than ever. New listings in some communities can have several offers before buyers have a chance to see the home. With that being the case, not only do you have to move fast, you need to present offers that stand out above the others.
According to the WSJ, 85.3% of economists believe an economic recovery will begin in the second half of 2020. Let’s connect to discuss how the expert forecast may influence your plans in the housing market this year.
Summer is gearing up to be the new spring market for home buying and selling! Let’s connect so you’re ready to make your move this season.
With interest rates around 3.66%, now is a great time to look back at where they’ve been over the past few decades. Comparatively, they’re pretty low!
