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Mortgage rates might soar even higher

Housing Wire

Mortgage rates have nearly doubled to around 6.5% Following the Fed’s decision to raise interest rates by an additional 75 basis points on Wednesday, the central bank said it will hike rates as high as 4.6% Before the Federal Reserve raised the federal funds rate by 0.75

Mortgages 414
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What Will the Real Estate Market Bring in 2024? Market Corrections or Rising Property Prices?

Realty Biz

Only they have access to real estate comps, MLS listings, and local market trends that can help you buy, rent, sell, or invest in residential, commercial, or industrial real estate. The 30-year fixed-rate mortgage rate was at 6.6 Bank Rates report the same declining trend in home prices.

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Housing Market Crash: Wells Fargo’s 1980s Recession Warning

Marco Santarelli

Their message highlighted a concerning fact – mortgage interest rates have surged to a 23-year high, dragging down application activity to levels last witnessed in 1996. The Federal Reserve's aggressive stance on interest rate hikes has raised concerns that a housing market recession akin to the 1980s could be in the making.

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What to Expect from Real Estate During Inflation

Realty Biz

Specific to real estate, inflation is going to drive both higher mortgage rates and higher property values. Even if the pace of construction picks up, new construction (supply) will be more expensive due to inflation. And it probably will be once the higher interest rates kick in.

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How the U.S. Housing Market Was Rocked by COVID-19—and Where We Go From Here

Realtor.com

Getty Images As home buyers already know full well, the residential real estate market has been on a wild tear for the past few years—and the pandemic has pushed things to new, uncharted extremes. They were spurred on by record-low mortgage interest rates. What resulted was the lowest interest rates we’ve ever seen.

Marketing 145
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Miami Real Estate Luxury Home Sales Continue Surging 

Realty Biz

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%. Home sales are sensitive to mortgage rate changes.

Sales 93
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Miami-Dade Luxury Sales Surge

Realty Biz

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. Global Buyers Miami is the No. market for global buyers.

Sales 102