Housing Wire

JANUARY 10, 2022

The Federal Reserve has announced plans to gradually “taper” its supportive monetary policy: Net acquisitions of agency mortgage-backed securities are expected to cease by the end of March and the Federal Open Market Committee has signaled possibly three 25-basis point increases in the federal funds target by yearend 2022.

Marketing 545

Marketing FHA loan Fixed-rate mortgage Loans 545

Realty Biz

MAY 21, 2023

Last Year; Impacting Sales Miami total home sales decreased 35.5% year-over-year in April 2023, from a historic 3,445 transactions in April 2022 to 2,222 in April 2023, because of rising mortgage rates, the recent banking crisis and lack of supply in certain price points. Rates on March 1, 2022 were 3.90%.

Sales 92

Sales Short sale Fixed-rate mortgage MLS 92

Realty Biz

MARCH 21, 2023

Home sales are sensitive to mortgage rate changes and homebuyers are taking advantage of any rate declines. According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage is 6.60% as of March 16. In 2009, distressed sales comprised 70% of Miami's sales.

Sales 101

Sales MLS Short sale Residential 101

Realty Biz

DECEMBER 26, 2022

While the Fed doesn’t set mortgage rates, it affects them through its conduct of monetary policy. According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage averaged 6.31% as of December 15. Miami Distressed Sales Remain Low, Reflecting Healthy Market Only 1.7%

Sales 92

Sales Short sale Mortgages Fixed-rate mortgage 92

Realty Biz

JUNE 24, 2022

On the same $300,000 mortgage, the monthly payment has risen from $1265 in December to $1800 today, according to NAR. According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage was 5.23% in May, up from 4.98% in April. The mortgage rate is projected to land at 5.3%

Sales 78

Sales Short sale Mortgages Fixed-rate mortgage 78

Marco Santarelli

AUGUST 5, 2020

Social-distancing requirements are also likely to hold construction back in the coming months. Under normal market conditions, prices would be expected to skyrocket as inventory declines at a faster rate, but buyer demand is expected to see-saw throughout 2020 as the second wave of coronavirus pandemic pop-ups in fall.

Marketing 145

Marketing Fixed-rate mortgage Sales Mortgages 145

The Close

DECEMBER 29, 2022

Construction loan. A short-term loan that covers the cost to build a property until the owner can secure long-term financing. It’s kind of like a fixed-rate mortgage and an adjustable-rate mortgage had a baby. But, unlike a traditional ARM, a borrower has the option to switch to a fixed-rate mortgage.

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98