Homebuyers Are Getting Used to the New Normal

Written by Jupiter Beach Mortgage Syndicated User on July 19, 2023. Posted in For Sellers, Housing Market Updates, Interest Rates, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage, Selling Myths.

Before you decide to sell your house, it’s important to know what you can expect in the current housing market. One positive trend right now is homebuyers are adapting to today’s mortgage rates and getting used to them as the new normal.To better understand what’s been happening with mortgage rates lately, the graph below shows the trend for the 30-year fixed mortgage rate from Freddie Mac since last October. As you can see, rates have been between 6% and 7% pretty consistently for the past nine months:According to Lawrence Yun, Chief Economist at the National Association of Realtors (NAR),...

How Remote Work Expands Your Homebuying Horizons

Written by Jupiter Beach Mortgage Syndicated User on July 14, 2023. Posted in For Buyers, Interest Rates, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage.

Even as some companies transition back into the office, remote work remains a popular choice for many professionals. So, if you currently enjoy working from home or hope to be able to soon, you’re not alone. According to a recent survey, most working professionals want to work either fully remote or hybrid (see below):This trend is good news if you’re looking to buy a home because a remote or hybrid work setup can help you overcome some of today’s affordability and housing inventory challenges.More Work Flexibility Equals More Home OptionsRemote or hybrid work opens up a world of opportunities....

Two Questions To Ask Yourself if You’re Considering Buying a Home

Written by Jupiter Beach Mortgage Syndicated User on July 6, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage, Move-Up Buyers, Pricing.

If you’re thinking of buying a home, chances are you’re paying attention to just about everything you hear about the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, overhearing someone chatting at the local supermarket, the list goes on and on. Most likely, home prices and mortgage rates are coming up a lot. To help cut through the noise and give you the information you need most, take a look at what the data says. Here are the top two questions you need to ask yourself...

Your Needs Matter More Than Today’s Mortgage Rates

Written by Jupiter Beach Mortgage Syndicated User on June 14, 2023. Posted in For Buyers, For Sellers, Interest Rates, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage, Move-Up Buyers.

If you’re thinking about selling your house right now, chances are it’s because something in your life has changed. And, while things like mortgage rates are a key part of your decision on what you’ll buy next, it’s important to not lose sight of the reason you want to make a change in the first place.It’s true mortgage rates have climbed from the record lows we saw in recent years, and that has an impact on affordability. With rates where they are right now, some homeowners are deciding they’ll wait to sell because they don’t want to move and have a higher mortgage rate on their next home....

The Main Reason Mortgage Rates Are So High

Written by Jupiter Beach Mortgage Syndicated User on June 8, 2023. Posted in For Buyers, Interest Rates, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage.

Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions: Why Are Mortgage Rates So High?When Will Rates Go Back Down?Here’s context you need to help answer those questions.1. Why Are Mortgage Rates So High? The 30-year fixed-rate mortgage is largely influenced by the supply and demand for mortgage-backed securities (MBS). According to Investopedia: “Mortgage-backed securities (MBS) are investment...

The Impact of Changing Mortgage Rates [INFOGRAPHIC]

Written by Jupiter Beach Mortgage Syndicated User on May 20, 2023. Posted in For Buyers, Infographics, Interest Rates, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage.

Some HighlightsIf you’re looking to buy a home, you should know even a small change in mortgage rates has an impact on your purchasing power.These charts show how rates generally affect your monthly payment.The best way to navigate changing mortgage rates and make an informed buying decision is to rely on the expertise of a local real estate professional and mortgage lender.

The Impact of Inflation on Mortgage Rates

Written by Jupiter Beach Mortgage Syndicated User on May 11, 2023. Posted in Housing Market Updates, Interest Rates, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage.

If you’re reading headlines about inflation or mortgage rates, you may see something about the recent decision from the Federal Reserve (the Fed). But what does it mean for you, the housing market, and your plans to buy a home? Here’s what you need to know.Inflation and the Housing MarketWhile the Fed’s working hard to lower inflation, the latest data shows that, while the number has improved some, the inflation rate is still higher than the target (2%). That played a role in the Fed’s decision to raise the Federal Funds Rate last week. As Bankrate explains:“Keeping its inflation-fighting...

A Recession Doesn’t Equal a Housing Crisis

Written by Jupiter Beach Mortgage Syndicated User on May 3, 2023. Posted in Housing Market Updates, Interest Rates, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage, Pricing.

Everywhere you look, people are talking about a potential recession. And if you’re planning to buy or sell a house, this may leave you wondering if your plans are still a wise move. To help ease your mind, experts are saying that if we do officially enter a recession, it’ll be mild and short. As the Federal Reserve explained in their March meeting:“. . . the staff’s projection at the time of the March meeting included a mild recession starting later this year, with a recovery over the subsequent two years.” While a recession may be on the horizon, it won’t be one for the housing market record...

Ways To Overcome Affordability Challenges in Today’s Housing Market [INFOGRAPHIC]

Written by Jupiter Beach Mortgage Syndicated User on April 29, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Interest Rates, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage, Move-Up Buyers, Pricing.

Some HighlightsWith so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget.You can also work with a trusted lender to consider alternative financing options and search for down payment assistance.If you’ve been searching for a home but are concerned about rising costs, make sure you have a team of trusted real estate professionals for expert advice.

The Three Factors Affecting Home Affordability Today

Written by Jupiter Beach Mortgage Syndicated User on April 27, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage, Move-Up Buyers, Pricing.

There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determined by a combination of mortgage rates, home prices, and wages.Considering how each one of these factors is changing gives you the full picture of home affordability today. Here’s the latest.1. Mortgage RatesWhile mortgage rates are higher than they were a year ago, they’ve hovered primarily between...

Category: Interest Rates