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Low rates offset rising home prices.
Get Pre Approved Today! The year 2020 will be remembered as one of the most challenging times of our lives. A worldwide pandemic, a recession causing historic unemployment, and a level of social unrest perhaps never seen before have all changed the way we live. Only the real estate market seems to be unaffected, as…
U.S. homeownership rate rose again
So far, it’s been quite a ride this year, and our nation has truly seen its fair share of hurdles. From COVID-19 to record unemployment and then the resulting recession, just to name a few, the second quarter of 2020 has had more than a few challenges. Amidst the many roadblocks, however, the U.S. homeownership…
Mortgage Rates Hit Record Lows for Three Consecutive Weeks
Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below 4/1971 – 4/2020): What does this mean for buyers? This is huge…
A Historic Rebound for the Housing Market
A Historic Rebound for the Housing Market Pending Home Sales increased by 44.3% in May, registering the highest month-over-month gain in the index since the National Association of Realtors (NAR) started tracking this metric in January 2001. So, what exactly are pending home sales, and why is this rebound so important? According to NAR, the Pending Home Sales Index (PHS)…
Just When You Thought They Were Gone, All-Time Low Rates Are Back
Just When You Thought They Were Gone, All-Time Low Rates Are Back Mortgage rates plunged well into new all-time lows this week, which is a striking turn of events given the vastly different outlook at the end of last week. Specifically, a series of strong economic reports led to significant losses in the bond market…
The actual number of unemployed is less than many are reporting!
Three Things to Understand About Unemployment Statistics Tomorrow morning the Bureau of Labor Statistics will release the latest Employment Situation Summary, which will include the most current unemployment rate. It will be a horrific number. Many analysts believe unemployment could be greater than 20%. These numbers represent families across the nation that are not sure when (or if)…
National Rates Hit 52 Week Low
Here is a summary of where national rates are today. Rates are based on your scenario. For example higher credit or more equity in your home can help you qualify for a lower rate. We can help you Buy, Refinance to lower your rate and payment or drop mortgage insurance from your payment, take out equity…
This is not 1932….
Last Friday, the Bureau of Labor Statistics (BLS) released its latest jobs report. It revealed that the economic shutdown made necessary by COVID-19 caused the unemployment rate to jump to 14.7%. Many anticipate that next month the percentage could be even higher. These numbers represent the extreme hardship so many families are experiencing right now. That pain should…
Think This Is a Housing Crisis? Think again.
5 Reasons why this market is far different than 2008! With all of the unanswered questions caused by COVID-19 and the economic slowdown were experiencing across the country today, many are asking if the housing market is in trouble. For those who remember 2008, it’s logical to ask that question. Many of us experienced financial…
