Like anything else, real estate has its urban legends, its stories that get told so often they seem like they must be true. But unlike urban legends about exploding Pop Rocks, housing market myths have the potential to cause panic, poor decisions, and substantial financial losses. The recent market upturn, coming on the heels of 6 years of near-depression, has given rise to a long list of real estate myths. Don’t get lost in the legends — find out what’s fact and what’s fiction.
Mortgage rates have risen sharply over the last month and Freddie Mac, in its monthly Economic and Housing Market Outlook for June, focuses on what happens to the housing market recovery if those increases continue. Recent movements have raised rates from the 3.5 percent range where they have been for most of 2013 to just over 4.0 percent.
While many market participants are concerned about the impact of higher rates on the economy and the chance that Fed tapering could take them higher, Freddie’s research suggests moderately higher rates are livable, even if they have some downside risks.
Home prices are rising rapidly in many markets, but Pacific Coast Builders Confidence attendees name two main factors that should quell fears of a new bubble.
Mortgage rates and home prices are on the rise, and some home buyers who were waiting around for the housing market to reach bottom are realizing now they may have missed the boat.
Mortgage rates are inching up, with the 30-year fixed-rate mortgage averaging 3.91 percent last week — up from 3.3 percent in early May, according to mortgage giant Freddie Mac.
If you’re considering buying a home, you might want to know whether you’re in a buyers or sellers market.
Tight inventory favors sellers in the Southwest, while buyers have the upper hand in some Midwestern and Eastern cities.
Read the details here, and see where Seattle is on the list!
Everyone knows that numbers matter, so it’s no surprise that today’s home buyers are smart about basic market data and often take the lead in running their own personal finance spreadsheets. However, recent market trends present some unique challenges to buyers: multiple offers, super-short days on market (DOM), way-over-asking sales prices. Those challenges, in turn, give rise to the need for a unique set of “statistics.” Here are some of the insider stats that savvy house hunters need to know.
Home prices are rising across the country, but where are sellers cashing in big? Find out if your market’s ahead of the rest.
Read this list of top 10 markets with the biggest home price increases to see if now is the right time to sell.
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