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The National Average Mortgage Rate declined for the fifth consecutive week to 6.31%. This is good news for sellers and buyers of real estate as it reflects some stabilization in the market.
Market Conditions • Mortgage Financing • South Florida •
December 16, 2022
Mortgage Rates Down Again
Market Conditions • Mortgage Financing • South Florida •
December 8, 2022
Dramatic Drop in Mortgage Rate
The National Average Mortgage rate is 6.33% this week as reported by Freddie Mac. This is the fourth consecutive week of decline in the rate. In fact the rate has declined three quarters of a percent in this period, the sharpest decline since 2008.
Market Conditions • Mortgage Financing • South Florida •
December 1, 2022
Mortgage Rate Declines for third week
Mortgage rates continued to decline this week as optimism that the Federal Reserve will slow Fed Rate hikes. The optimism is based on indications that the actions of the Federal Reserve have started working to control inflation.
Market Conditions • South Florida •
November 22, 2022
Market is Softening with Prices Holding
The typical measurements of a slowing market are evident in the October numbers; inventory is up; the number of sales, with prices holding for now. Time will tell when/how supply and demand forces will influence prices but as of now values are being maintained.
The upshot? Now is still a good time to sell if you need or want to. The key is to partner with a real estate agent knowledgeable in where the market is now and skilled in the tools and strategies for a successful sale.
Details on these statistics can be found here:
Inventory up
Sales Down
Prices Holding
Mortgage Financing •
November 17, 2022
Good News or Better Record-keeping?
Probably both. Freddie Mac reported the National Average Mortgage rate dropped to 6.61% this week down from 7.08% reported last week. The commentary cited incoming data suggesting inflation may have peaked (the good news). In the same report, Freddie announced enhancements they’ve made in reporting the weekly average rate. They’ve expanded and changed their dataset suggesting a more accurate measurement moving forward. The next few weeks will be interesting to determine how the new methodology effects the number.
If you need more information about a mortgage for a purchase you’re considering, let me know and I’ll connect you to a mortgage professional with all the answers.
Home Buyers •
November 10, 2022
Don’t stop at the Interest Rate
Don’t stop at just the interest rate. Now more than ever you need to work with a team that will find the perfect loan for YOU! Reach out to me to start the process.
Mortgage Financing •
November 3, 2022
Average Mortgage Rate dips below 7% this week
Amid continuing economic uncertainty, the National Average Mortgage rate dipped below 7% this week as reported by Freddie Mac.
Market Conditions • South Florida •
October 26, 2022
Broward County Real Estate Market update
The statistics for September 2022 have been compiled and no surprise, they document that we’re in a changing market. While the number of sales is decreasing and the number of homes available for sale (what we call “inventory), the median selling price has been fairly stable, in fact unchanged for three months at its highest point for condominiums
So where are things headed? It’s too early to predict of course. What we do know is that it remains a very favorable market for sellers. The key is to be sure to partner with a real estate agent with knowledge of the numbers and the tools and resources to achieve the best outcome. If this is your time to sell, give me a call do discuss your specific circumstances.
If you would like a complete set of the statistics I compile each month, click here.
Market Conditions •
October 20, 2022
National Average Mortgage Rate
The rate of increase slowed this week and still under 7%. Before you take yourself out of the South Florida real estate market due to interest rates, you owe it to yourself to speak to a mortgage professional to discuss your plans and dreams. If you need a recommendation, reach out to me.
