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 – overall mortgage applications jumped 7% as of Wednesday, January 25. … [Read more...] about Mortgage applications jump as buyer optimism returns
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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 and a lack of any … [Read more...] about Positive signs in the housing market as rates dip
Looking ahead to 2023
What homebuyers should know as 2022 comes to a close It’s certainly been a volatile year for the housing and mortgage market. In January, rates hovered just above 3%, sustaining high demand from buyers. But in March the Federal Reserve began a series of rate hikes that have continued throughout the year. Mortgage rates rose higher in turn, eclipsing 7% in October to … [Read more...] about Looking ahead to 2023
Lower rates at last?
Inflation shows some improvement, but how does it impact homebuyers? This week, the Federal Reserve raised interest rates again, this time by .5%. While an increase is still an increase – interest rates now sit at their highest levels since 2007 – it’s lower than the .75% rate hikes we saw at the last four Fed meetings, stretching back to June. The move also comes on the … [Read more...] about Lower rates at last?
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 stable in 2023, varying by … [Read more...] about Where are home prices headed?
