by Norman Neu | May 18, 2023 | Advice for Buyers & Sellers, Budget Statistics, Housing Market Updates, Interest Rates, Market updates
The current higher interest rate environment in the United States is having an impact on the housing market. Due to the Federal Reserve’s monetary policy changes implemented in March 2022 to curb inflation, interest rates have increased, which has led to higher...
by Norman Neu | Apr 11, 2023 | Advice For Homeowners, Home Buying, Market updates, Mortgage Rates
As we near the end of March 2023, the mortgage market has seen some movement in interest rates. According to Bankrate.com, the average rate on a 30-year fixed mortgage is 6.93%, while the average rate on a 15-year mortgage is 6.18%. Jumbo mortgages with a 30-year term...
by Norman Neu | Nov 14, 2022 | Buying A Home, Home Buying, Housing Market Updates, Market updates
Congratulations! It’s 2022, and you’ve finally decided to take the plunge and buy a home. Purchasing a home is an important decision, and there are many things to consider before you make your purchase. This blog post will discuss what potential home buyers should do...
by Norman Neu | Nov 14, 2022 | Advice for Buyers & Sellers, Economic Factors, Home Value, Housing Market Updates, Market updates, Pricing, Real Estate Finances
There’s no easy answer when it comes to predicting whether or not home prices will drop in 2023. Various factors – from the state of the economy to interest rates – can impact the housing market and drive prices up or down. That said, there are a few things we can...
by Norman Neu | Oct 12, 2022 | Advice For Homeowners, Interest Rates, Market updates, Mortgage Rates
Are mortgage rates high right now? Forty years ago, in October of 1981, the average mortgage rates were above 18%. A year ago, mortgage rates on 30-year mortgages were below 3%. Are rates higher than last year? Yes, the rates are higher. Are they even close to...
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