Thursday, July 25, 2024 / by Arial Davis
As we move through the latter half of 2024, the real estate market is abuzz with speculation about mortgage interest rates. There are strong indications that mortgage rates might decrease slightly in the next few months, creating an excellent opportunity for prospective homebuyers to enter the market. Here’s a detailed look at why rates are expected to dip and how you can prepare to take advantage of this potential decrease.
Factors Indicating a Potential Decrease in Mortgage Rates
Stabilizing Inflation: Inflation has been a major concern over the past few years, but recent data suggests that inflation is starting to stabilize. As inflationary pressures ease, the Federal Reserve may be less inclined to increase interest rates further, which can lead to a slight decrease in mortgage rates.
Federal Reserve Policies: The Federal Reserve has been cautious with its monetary policies, aiming to balance economic growth and inflation control. Recent statements from the. ...
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housing market, buying, financing, home loans, market update, mortgage
Tuesday, January 23, 2024 / by Meghan McDowell
Key Highlights
Existing-home sales waned 1.0% in December to a seasonally adjusted annual rate of 3.78 million. Sales faded 6.2% from the previous year. The median existing-home sales price rose 4.4% from December 2022 to $382,600 – the sixth consecutive month of year-over-year price increases.
On an annual basis, existing-home sales (4.09 million) fell to the lowest level in nearly 30 years, while the median price reached a record high of $389,800 in 2023.
The inventory of unsold existing homes slumped 11.5% from the previous month to 1 million at the end of December, or the equivalent of 3.2 months' supply at the current monthly sales pace.
WASHINGTON (January 19, 2024) – Existing-home sales retreated in December, according to the National Association of REALTORS®. Among the four major U.S. regions, sales slipped in the Midwest and South, rose in the West and were unchanged in the Northeast. All four regions experienced year-over-year sales decreases.
On an annua ...
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housing market, market update, median sales price