Monthly Archives: November 2022
PREDICTING 2023 ANNUAL SALES
In Florida, about 70% of the outstanding mortgages have a mortgage rate below 4%, which means it’s unlikely that many of those homeowners will move if they have to qualify for and accept a much-higher rate. Plus, about 30% of local homeowners don’t have a mortgage. Read More
Case-Shiller: Home Prices in ‘Forceful Deceleration’
“Florida continues to hold the top two spots, with Miami taking the lead over Tampa,” Lazzara says. “Price growth continued strongest in the Southeast (up 24.5% year-to-year) and South (up 23.6% year-to-year). Read More
Long-Term Mortgage Rates Tumble to 6.61%
Last week, a 30-year, fixed-rate loan averaged 7.08%; this week it dropped almost half a percentage point to 6.61% as signs suggest inflation may have peaked. WASHINGTON (AP) – The average long-term U.S. mortgage rate tumbled by nearly a half-point this week, but will likely remain a significant barrier for potential homebuyers as Federal Reserve... Read More
Home Equity: A Source of Strength for Homeowners Today
“. . . don’t expect a housing bust like the mid-2000s, as lending standards in this housing cycle have been much tighter and homeowners have historically high levels of home equity, so there likely won’t be a surge in foreclosures.” Read More
Opinion: Mortgage rates have a smaller impact on housing than you think; here’s proof
If we don’t learn from history, we are doomed to repeat it. Read More