What’s the Impact of Presidential Elections on the Housing Market?

Written by Port St. Lucie Mortgage Syndicated User on August 28, 2024. Posted in Economy, For Buyers, For Sellers, Home Prices, Inventory, Mortgage Rates, Port St Lucie Mortgage, Port St. Lucie Condo Financing, Port StLucie Mortgage Rates.

It’s no surprise that the upcoming Presidential election might have you speculating about what’s ahead. And those unanswered thoughts can quickly spiral, causing fear and uncertainty to swirl through your mind. So, if you’ve been considering buying or selling a home this year, you’re probably curious about what the election might mean for the housing market – and if it’s still a good time to make your move.Here’s the good news that may surprise you: typically, Presidential elections have only had a small, temporary impact on the housing market. But your questions are definitely worth answering,...

Today’s Biggest Housing Market Myths

Written by Port St. Lucie Mortgage Syndicated User on August 23, 2024. Posted in Buying Tips, Economy, For Buyers, Mortgage Rates, Port St Lucie Mortgage, Port St. Lucie Condo Financing, Port StLucie Mortgage Rates.

Have you ever heard the phrase: don’t believe everything you hear? That’s especially true if you’re thinking about buying or selling a home in today’s housing market. There’s a lot of misinformation out there. And right now, making sure you have someone you can go to for trustworthy information is extra important.If you partner with a real estate agent, they can clear up some common misconceptions and reassure you by backing them up with research-driven facts. Here are just a few misconceptions they can help disprove.1. I’ll Get a Better Deal Once Prices CrashIf you’ve heard home prices are...

The Great Wealth Transfer: A New Era of Opportunity

Written by Port St. Lucie Mortgage Syndicated User on August 15, 2024. Posted in Affordability, Economy, Port St Lucie Mortgage, Port St. Lucie Condo Financing, Port StLucie Mortgage Rates.

In recent years, there’s been a significant shift in how wealth is distributed among generations. It’s called the Great Wealth Transfer.Historically, the transfer of wealth from one generation to the next was a more gradual process, often limited to smaller amounts of inheritance or family savings. But today, the scale has increased in a big way. As a recent article from Bankrate says:“The biggest wave of wealth in history is about to pass from Baby Boomers over the next 20 years, and it’s going to have major impacts on many facets of life. Called The Great Wealth Transfer, $84 trillion is poised...

Is Affordability Starting To Improve?

Written by Port St. Lucie Mortgage Syndicated User on August 14, 2024. Posted in Affordability, Economy, For Buyers, Home Prices, Mortgage Rates, Port St Lucie Mortgage, Port St. Lucie Condo Financing, Port StLucie Mortgage Rates.

Over the past couple of years, a lot of people have had a hard time buying a home. And while affordability is still tight, there are signs it’s getting a little better and might keep improving throughout the rest of the year. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:“Housing affordability is improving ever so modestly, but it is moving in the right direction.”Here’s a look at the latest data on the three biggest factors affecting home affordability: mortgage rates, home prices, and wages. 1. Mortgage RatesMortgage rates have been volatile this year,...

Mortgage Rates Down a Full Percent from Recent High

Written by Port St. Lucie Mortgage Syndicated User on August 8, 2024. Posted in Affordability, Economy, For Buyers, Mortgage Rates, Port St Lucie Mortgage, Port St. Lucie Condo Financing, Port StLucie Mortgage Rates.

Mortgage rates have been one of the hottest topics in the housing market lately because of their impact on affordability. And if you’re someone who’s looking to make a move, you’ve probably been waiting eagerly for rates to come down for that very reason. Well, if the past few weeks are any indication, you may be getting your wish.Mortgage Rates Trend Down in Recent WeeksThere’s big news for mortgage rates. After the latest reports on the economy, inflation, the unemployment rate, and the Federal Reserve’s recent comments, mortgage rates started dropping a bit. And according to Freddie Mac,...

How the Economy Impacts Mortgage Rates

Written by Port St. Lucie Mortgage Syndicated User on July 26, 2024. Posted in Economy, For Buyers, For Sellers, Mortgage Rates, Port St Lucie Mortgage, Port St. Lucie Condo Financing, Port StLucie Mortgage Rates.

As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what’s ahead.One thing that can affect mortgage rates is the Federal Funds Rate, which influences how much it costs banks to borrow money from each other. While the Federal Reserve (the Fed) doesn’t directly control mortgage rates, they do control the Federal Funds Rate.The relationship between the two is why people have been watching closely to see when the Fed might lower the Federal Funds Rate. Whenever they do, that’ll put downward pressure on mortgage...

How Do Presidential Elections Impact the Housing Market?

Written by Port St. Lucie Mortgage Syndicated User on July 13, 2024. Posted in Economy, Home Prices, Infographics, Mortgage Rates, Port St Lucie Mortgage, Port St. Lucie Condo Financing, Port StLucie Mortgage Rates.

Some HighlightsAre you wondering if the upcoming election will have an impact on the housing market? Here’s what history tells us you need to know if you’re considering a move.?Data shows home sales slow in November but quickly bounce back and rise the following year. Prices usually keep climbing. And mortgage rates typically come down slightly.Presidential elections have only a small and temporary impact on the housing market. If you have questions, connect with a real estate agent.

Not a Crash: 3 Graphs That Show How Today’s Inventory Differs from 2008

Written by Port St. Lucie Mortgage Syndicated User on July 9, 2024. Posted in Economy, Foreclosures, Inventory, Port St Lucie Mortgage, Port St. Lucie Condo Financing, Port StLucie Mortgage Rates.

Even if you didn’t own a home at the time, you probably remember the housing crisis in 2008. That crash impacted the lives of countless people, and many now live with the worry that something like that could happen again. But rest easy, because things are different than they were back then. As Business Insider says:“Though many Americans believe the housing market is at risk of crashing, the economists who study housing market conditions overwhelmingly do not expect a crash in 2024 or beyond.”Here’s why experts are so confident. For the market (and home prices) to crash, there would have...

Focus on Time in the Market, Not Timing the Market

Written by Port St. Lucie Mortgage Syndicated User on June 27, 2024. Posted in Economy, For Buyers, Home Prices, Port St Lucie Mortgage, Port St. Lucie Condo Financing, Port StLucie Mortgage Rates.

Should you buy a home now or should you wait? That’s a big question on many people’s minds today. And while what timing is right for you will depend on a lot of other personal factors, here’s something you may not have considered.If you’re able to buy at today’s rates and prices, it may be better to focus on time in the market, rather than timing the market. The Downside of Trying To Time the Market Trying to time the market isn’t a good strategy because things can change. Here’s an example. For the better part of this year, projections have said mortgage rates will come down. And while experts...

Worried About Mortgage Rates? Control the Controllables

Written by Port St. Lucie Mortgage Syndicated User on June 19, 2024. Posted in Buying Tips, Economy, Mortgage Rates, Port St Lucie Mortgage, Port St. Lucie Condo Financing, Port StLucie Mortgage Rates.

Chances are you’re hearing a lot about mortgage rates right now. You may even see some headlines talking about last week’s Federal Reserve (the Fed) meeting and what it means for rates. But the Fed doesn’t determine mortgage rates, even if the headlines make it sound like they do.The truth is, mortgage rates are impacted by a lot of factors: geo-political uncertainty, inflation and the economy, and more. And trying to pin down when all those factors will line up enough for rates to come down is tricky.That’s why it’s generally not worth it to try to time the market. There’s too much at play...

Category: Economy