Pending Home Sales Remain Flat, and That’s Positive In September, the number of pending home sales remained flat compared to a year ago, marking the first time since January that sales did not decline, according to a report from Redfin. This stability suggests the housing market may be turning a corner, with pending sales increasing…

Investing in real estate can be an exciting way to build wealth, but it’s important to start with a solid strategy. Here are a few beginner-friendly approaches to consider when diving into real estate. 1. House Hacking House hacking is an excellent strategy for beginners who want to live in their investment. The idea is…

Mortgage Rates Rose Before Jobs Report — What’s Next? Mortgage rates surged to 6.53% after a strong September jobs report showed higher-than-expected employment growth, signaling a robust economy. This jump in rates, up 27 basis points, disrupted hopes for lower mortgage costs in the near term. The Federal Reserve may slow its rate-cutting pace as…

Home Sales Hit 30-Year Low            In the first eight months of 2024, only 2.5% of homes were sold, marking the lowest residential turnover rate in at least 30 years, according to Redfin. Sales are down 37.5% compared to the 2021 pandemic boom and 31% lower than in the same period…

Case Shiller: Home Prices Grow at Slowest Pace in 8 Months, still Hit Record High In July, home prices in the 20 largest U.S. metro areas reached new record highs, but the pace of growth slowed significantly. The S&P CoreLogic Case-Shiller 20-city index showed a 0.3% rise from June and a 5.9% increase over the…

Mortgage Rates Are Dropping, But Home Prices Won’t—Here’s Why Mortgage rates have dropped to 6.2%, down from a peak of 7.79%, leading to savings for homebuyers. However, this drop has brought more buyers back into the market, increasing competition for a limited number of homes. As supply remains low, with at least a 4 million…

On September 18th, 2024, the Federal Reserve will meet to discuss the state of the U.S. economy and decide on potential adjustments to interest rates. This meeting could have a significant impact on the housing market and mortgage rates. Here’s what homebuyers need to know. 1. Interest Rate Trends The Fed’s decisions on interest rates…

Experts Predict Mortgage Rate Changes After September Fed Meeting Experts predict that mortgage rates will unlikely fall significantly following the Federal Reserve’s expected rate cut in September. Market expectations largely influence mortgage rates, and experts believe that current rates already reflect the anticipated 25 basis point cut.  According to Dr. Selma Hepp from CoreLogic, while…

Mortgage Refinance Demand Surges 94% as Rates Drop Again Mortgage demand is increasingly focused on refinancing as interest rates declined for the fifth week in a row. Total mortgage application volume rose just 1.6% last week, with the average rate for 30-year fixed mortgages slightly decreasing to 6.43%. Although refinancing applications fell 0.3% for the…