The 3 Factors That Affect Home Affordability

Written by Jupiter Beach Mortgage Syndicated User on January 25, 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.

If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors that determine housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at CoreLogic, shares:

Want To Sell Your House? Price It Right.

Written by Jupiter Beach Mortgage Syndicated User on January 24, 2023. Posted in For Sellers, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage, Pricing, Selling Myths.

Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you’re thinking of selling your house soon, that means you’ll want to adjust your expectations accordingly. As realtor.com explains:

What’s Really Happening with Home Prices? [INFOGRAPHIC]

Written by Jupiter Beach Mortgage Syndicated User on January 21, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage, Pricing.

Have Home Values Hit Bottom?

Written by Jupiter Beach Mortgage Syndicated User on January 19, 2023. Posted in For Buyers, For Sellers, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage, Pricing.

Whether you’re already a homeowner or you’re looking to become one, the recent headlines about home prices may leave you with more questions than answers. News stories are talking about home prices falling, and that’s raising concerns about a repeat of what happened to prices in the crash in 2008.

What To Expect From the Housing Market in 2023

Written by Jupiter Beach Mortgage Syndicated User on December 22, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage, Pricing.

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 than doubled – something that’s never happened before in a calendar year. This had a cascading impact on buyer activity, the balance between supply and demand, and ultimately home prices. And as all those things changed, some buyers and sellers put their plans on hold and decided to wait until the market felt a bit more predictable. But...

Homeowners Still Have Positive Equity Gains over the Past 12 Months

Written by Jupiter Beach Mortgage Syndicated User on December 21, 2022. Posted in For Sellers, Housing Market Updates, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage, Pricing.

If you’re a homeowner, your net worth got a big boost over the past few years thanks to rapidly rising home prices. Here’s how it happened and what it means for you, even as the market moderates. Equity is the current value of your home minus what you owe on the loan. Because there was a significant imbalance between the number of homes available for sale and the number of buyers looking to make a purchase over the past few years, home prices appreciated substantially. And while home price appreciation has moderated this year, and even depreciated slightly in some overheated markets, that doesn’t...

What’s Going on with Home Prices? Ask a Professional.

Written by Jupiter Beach Mortgage Syndicated User on December 7, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage, Pricing.

If you’re thinking about buying or selling a home this year, you may have questions about what’s happening with home prices today as the market cools. In the simplest sense, nationally, experts don’t expect prices to come crashing down, but the level of home price moderation will depend on factors like supply and demand in each local market. That means, moving forward, home price appreciation will continue to vary by location, with more significant changes happening in overheated areas. Here’s a quick snapshot of what the experts are saying: Danielle Hale, Chief Economist at realtor.com, says: “The...

What’s Ahead for Mortgage Rates and Home Prices?

Written by Jupiter Beach Mortgage Syndicated User on November 10, 2022. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage, Move-Up Buyers, Pricing.

Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next year and what that may mean if you’re thinking about buying a home. Here’s a look at the latest expert insights on both mortgage rates and home prices so you can make your best move possible. Mortgage Rates Will Continue To Respond to Inflation There’s no doubt mortgage rates have skyrocketed this year as the market responded to high inflation. The increases we’ve seen were fast and dramatic, and the average 30-year fixed mortgage rate even surpassed 7% at the end of last month....

Key Factors Affecting Home Affordability Today

Written by Jupiter Beach Mortgage Syndicated User on November 8, 2022. 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.

Every time there’s a news segment about the housing market, we hear about the affordability challenges buyers are facing today. Those headlines are focused on how much mortgage rates have climbed this year. And while it’s true rates have risen dramatically, it’s important to remember they aren’t the only factor in the affordability equation. Here are three measures used to establish home affordability: home prices, mortgage rates, and wages. Let’s look closely at each one. 1. Mortgage Rates This is the factor most people are focused on when they talk about homebuying conditions today. So far,...

3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008

Written by Jupiter Beach Mortgage Syndicated User on October 27, 2022. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Jupiter Beach Florida Mortgage Rates, Jupiter Beach Mortgage, Pricing.

With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to show why this is nothing like the last time. There’s Still a Shortage of Homes on the Market Today, Not a Surplus For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to fall dramatically. Supply...

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