Mortgage rates are closely tied to bond markets, particularly the 10-year Treasury yield. Here’s why: bonds and mortgages are both long-term investments, meaning they share many risk and reward considerations. When bond yields rise, mortgage rates generally follow suit because lenders need to keep rates competitive to attract investors. Conversely, when bond yields fall, mortgage rates tend to drop,...
Donald Trump's victory in the 2024 presidential election is set to have significant impacts on the real estate market. Here are five key implications to watch: 1. Potential for Deregulation Trump's previous administration focused heavily on deregulation, and we can expect this trend to continue. This could lead to more lenient building and zoning regulations, potentially increasing the housing supply....
We didn’t expect the housing market to be quite like this. Experts in real estate and finance anticipated a busy fall buying season, with more homes available and lower mortgage rates helping buyers jump back in. But instead, rates have been climbing steadily. After briefly dipping, mortgage rate trends show they are now trending over 7%, a level that’s making many potential buyers hesitate. Though...
Mortgage rates rise this October, marking a challenging month for potential homeowners and refinancers alike. As of last Friday, the average 30-year fixed mortgage rate for top-tier borrowers hit 6.90%, climbing over 0.625% since the beginning of the month. Today’s additional 0.10% increase brings it to 7.0%, the highest level we've seen since July 10th. This jump is partly due to last Friday's bond...
If you've been dreaming about owning a home that fits your lifestyle and grows with your needs, you're not alone! Whether you're in the market for your first place or looking to upgrade, there's no better time to explore all the ways you can unlock home potential. From maximizing square footage to finding that perfect neighborhood vibe, every decision can make a big impact on your daily life—and your...
Existing home sales fell again in September, as many buyers stayed on the sidelines even though mortgage rates eased slightly during the month. According to the National Association of Realtors (NAR), sales dropped 1% from August, reaching a seasonally adjusted annual rate of 3.84 million. This marks the lowest level since October 2010, falling short of economists’ predictions of 3.88 million. On a...
Mortgage demand has taken a significant dip as rates continue to rise, reaching the lowest point since July 2024. As of today, the average 30-year fixed mortgage rate has climbed to 6.84%. This marks a notable shift from the past few months when rates were down in the low 6% range, making homebuying more affordable for many. The sudden rise in rates, coupled with...
Attention Buyers!!! Are you feeling the pinch of rising interest rates in the housing market? There's a little-known option that could save both buyers and sellers a significant amount of money: assumable mortgages. What Are Assumable Mortgages? An assumable mortgage allows a homebuyer to take over the seller's existing mortgage, including its interest rate and terms. This means if the seller has a...
Are you ready to take the exciting step of purchasing your first home? The process can be both thrilling and overwhelming. To help you navigate this journey, we've compiled essential first-time homebuyers tips to make your experience smoother and more enjoyable. Understand Your Budget Before you start house hunting, it's crucial to know how much you can afford. Review your finances, consider your...
Welcome to 3854 Loon Lane, a stunning four-bedroom, two-bathroom residence nestled in the highly sought-after gated community of Wyndham Preserve. This corner-lot gem offers an open floor plan that perfectly balances comfort and elegance, making it an ideal space for both relaxation and entertaining. As you step inside, you're greeted by an abundance of natural light that fills the spacious living...