How Inflation Affects Mortgage Rates
When you read about the housing market in the news, you might see something about a recent decision made by the Federal Reserve (the Fed). But how does this decision affect you and your plans to buy a home? Here’s what you need to know. The Fed is trying hard to reduce inflation. And even though there’s been 12 […]
Powerful Job Market Fuels Homebuyer Demand
The spring housing market has been surprisingly active this year. Even with affordability challenges and a limited number of homes for sale, buyer demand is strong, and getting stronger. One way we know there are interested buyers right now is because showing traffic is up. Data from the latest ShowingTime Showing Index, which is a […]
A Recession Doesn’t Equal a Housing Crisis
Experts are predicting a potential recession on the horizon, which may lead some to worry about buying or selling a house. However, historical data shows that a recession doesn’t always mean falling home prices. In fact, home prices have appreciated in four of the last six recessions dating back to 1980. The 2008 housing crisis was an outlier due to a surplus of homes for sale at the same time as distressed properties flooded the market. In contrast, today’s housing market has a low supply of homes for sale, so while there may be slight price declines in some areas, a crash is unlikely. A recession typically means falling mortgage rates, which creates more opportunity for homebuyers. Overall, experts predict any recession will be mild and short, and there’s no need to fear what it means for the housing market.
What You Should Know About Rising Mortgage Rates
After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to purchase a home this year, you too may be wondering if now’s the right time to buy […]