Home Price GROWTH Seems Likely To Decline In 2022
It seems likely that we will see a decline in home price GROWTH in 2022. Here are the changes in the median sales price over the past five years... 2017 = +3% 2018 = +7%…
Buying A Home To Lock In Your Housing Costs
Yes, home prices are going up... and yes, interest rates are going up. As a result, your mortgage payment (if you buy a house) will be higher now than if you had bought a…
If You Hope To Buy a Home and Have Not Talked To Your Lender Lately, Do So NOW!
So, you've been planning to and trying to buy a home for the past four months... but despite having made multiple offers, nothing has worked out yet. This is not as…
Current Mortgage Interest Rates in the Context of the Past Decade
Mortgage interest rates keep on rising. The graph above shows the average mortgage interest rate over the past decade. Periods of Green = 3._% (somewhere between 3% and…
Home Sales Slow Slightly, Prices Still Climbing Quickly!
Happy Tuesday morning, friends! I hope you are enjoying the warmer weather this week, and perhaps some sporting events! We have a baseball player and a runner here in our…
If Higher Mortgage Interest Rates Will Cause The Market To Shift, It Does Not Seem To Be Happening Yet
In theory, as mortgage interest rates increase, some buyers will be priced out of considering some homes that they would like to purchase. If enough buyers are priced out…
Rising Mortgage Interest Rates Are Causing Some Would Be Home Buyers To Adjust Their Target Purchase Price
Have you heard? Interest rates are on the rise. In early January, the average mortgage interest rate was 3.22% on a 30 year fixed rate mortgage. Last week, the average…
Home Sales Rise Again, Along With Prices, In February 2022
Happy Friday Morning, and for many of you, Happy (end of) Spring Break! I hope your week has gone well, whether you had a break or not. I was able to skip town for part…
Average 30 Year Mortgage Interest Rate Rises Almost A Full Percentage Point In A Year
About a year ago, on February 11, 2021, the average 30 year fixed mortgage interest rate was 2.73%. A few days ago, on February 10, 2022, the average rate was 3.69%. So…
Slightly Fewer Home Sales, Much Higher Sales Prices In January 2022
Happy Snowy Monday Morning! This is my favorite kind of snow... beautiful everywhere... but not sticking to the road... I hope you stayed warm inside yesterday and that…
Will Home Prices Drop As Mortgage Interest Rates Rise?
Question... Will Home Prices Drop As Mortgage Interest Rates Rise? Short Answer... I don't think so Long Answer... Above you'll find a graph showing the median sales…
If Your Lease Ends This Summer, Start Looking For A Home To Buy Now!
If you have a lease ending this summer and you are thinking about buying a home instead of renewing that lease, you might think you have PLENTY of time before you need to…