by Stig Bergquist | Apr 3, 2023 | Buyer, Buying Myths, Interest Rates
The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power. The chart below...
by Stig Bergquist | Feb 21, 2023 | Buyers & Sellers, Housing Market Updates, Interest Rates
The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply: “Two dynamics are keeping existing-home inventory historically low – rate-locked...
by Stig Bergquist | Feb 8, 2023 | Housing Market Updates, Interest Rates, Mortgage Rates
Understanding mortgage rate interest is essential if you’re in the market for a home or just trying to get a better handle on your current mortgage loan. When it comes to mortgages, the interest rate can be confusing—it’s not always as straightforward as we might like...
by Stig Bergquist | Feb 6, 2023 | Interest Rates, Sellers, Selling Myths
Many of today’s homeowners bought or refinanced their homes during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mortgage rate they have...
by Stig Bergquist | Dec 21, 2022 | Buyers & Sellers, Housing Market Updates, Interest Rates
The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates. And in many ways, it’s put the market into a reset position. As the Federal Reserve (the Fed) made moves this year to try to lower inflation, mortgage rates more...
by Stig Bergquist | Dec 10, 2022 | Housing Market Updates, Interest Rates, Millennial home, Price Growth
In a world where things are changing rapidly, it can be hard to predict what an industry will look like. But that doesn’t mean predictions aren’t worth exploring, especially regarding the housing market. With more than half of all Americans being homeowners,...
