The year kicked off on a more positive note, as many buyers, sellers, realtors and loan officers were encouraged by a downward trend in mortgage rates and signs of waning inflation. Over the past few weeks, we’ve seen rates zig-zag again, with volatility returning as the market tries to make sense of mixed signals around […]
The Morty Report
Mortgage rate fluctuation return, but buyers remain active
Rates were volatile this week as the market adjusted to a range of mixed signals. The 1-2 punch of a lower Fed interest rate hike and strong jobs data sent rates back up this week, following a month of steady downward movement. This is driven to some extent by uncertainty around inflation – while the […]
Mortgage applications jump as buyer optimism returns
Buyer energy has returned to the market with benchmarks showing mortgage rates hitting some of their lowest levels since September in the past week. While they have ticked up again over the past few days, reflecting continued rate volatility in the market, some signs show that buyer optimism has renewed.
Positive signs in the housing market as rates dip
January is looking brighter for homebuyers Newly released data shows the Consumer Price Index (CPI) rose 6.5% annually, reflecting a dip in the inflation we’ve seen over the past year. While inflation remains elevated, this marks two months of positive signs. So what does this mean for homebuyers? On the whole, a few moderately positive indicators […]
Looking ahead to 2023
Looking ahead to 2023. What homebuyers should know as 2022 comes to a close.
Lower rates at last?
Inflation shows some improvement, but how does it impact homebuyers?
Where are home prices headed?
Experts look ahead to 2023, but conditions are tough to predict Heading towards the end of the year, we’re seeing a lot of discussion around home prices, along with projections on where they may be headed in the coming months. The National Association of Realtors’ Chief Economist, Lawrence Yun, believes that prices will remain relatively […]
The Fed’s rate hike: a guide for homebuyers
The market is changing quickly, as the Fed raises rates again. What to do: focus on Affordability, don’t panic, know your options.
What to expect with rates as a volatile market adjusts
Rates rise again, but volatility remains a constant Even as competition and inventory constraints loosen things up a bit, rising rates have kept affordability a challenge for buyers. We’ve seen significant volatility recently, not just in the wake of a much-expected rate hike from the Federal Reserve, but from world economic events like those surrounding the […]
The Fed’s latest rate hike: here’s what homebuyers need to know
You may have heard that the Federal Reserve raised the federal funds rate by .75% on Wednesday. This rate controls how expensive it is for banks to borrow and lend from each other – which influences how much it costs for most consumers to borrow money, too. What does this news mean for mortgage rates […]
Does homebuying have ‘seasons?’
Seasons change, but do they change the market, too? Whether it’s the end of a lease or the start of a new job, there are often deadlines driving the home search. But regardless of what’s on the calendar, buyers almost always want to know about seasonality and whether it’s the “right” time of the year […]
The lowdown on low-down payment mortgages
The new Community Affordable Loan Solution, Bank of America’s “no-down” mortgage program, is only one of a growing number of no- and low-down payment mortgage options.
Getting it right the first time: simple steps for first-time homebuyers
Three simple steps for first-time homebuyers to follow, especially in a competitive market
Are home prices *really* falling?
Prices still projected to rise – but stable for now Recent real estate headlines might look a little bleak, with descriptions like “plunging” home prices and a “slumping” market. But are they really? Let’s start with the market: Yes, it’s cooling slightly, but no – it’s not as extreme as some might suggest. We have to […]
Ready, set, prep: first steps before you buy a home
If you are looking to restart your search for a home, it can be tempting to jump straight into getting a pre-approval. But you may want to spend some time sorting out your finances first, as it’ll give you a more realistic snapshot of what you can afford in a fast-changing market.
Will cooling inflation heat up the housing market?
Should you rent or buy? Rents have risen significantly in many cities, along with home prices and mortgage rates. But high rates don’t automatically make it a bad time to buy.
What the ‘new normal’ means for buyers
August 5, 2022. What the market’s ‘new normal’ means for buyers. Mortgage rates dipped slightly even after the Fed raised interest rates again last week – further illustrating that the market is driven by a range of macroeconomic factors (and not solely by inflation).
The upside to higher rates
July 29, 2022. The new normal. We saw new data from the National Association of Realtors that purchase contracts dropped by 8.6% in June – the lowest since 2011. We also saw the Federal Reserve raise interest rates again in a continued effort to curb inflation.
Affordable homes in 2022? Yes – in these markets
What does affordability mean to you? A list of the “Top 10 Affordable Cities for Middle-Class Homebuyers” certainly sounds promising for homebuyers chasing affordability – but what does that actually mean?
Buyer power shifts as affordability falters
July 15, 2022. Last month, nearly 15% of purchase agreements in the U.S. fell through before closing – a possible signal that buyers are gaining more negotiating power amid the market slowdown.