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Mortgage rates dip to 6.6% to mark the lowest level since May 2023

Housing Wire

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% by the end of 2024 from the current federal funds rate range of 5.25%-5.5%.

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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 Existing home sales are down 19.9%

Mortgages 411
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What Will the Real Estate Market Bring in 2024? Market Corrections or Rising Property Prices?

Realty Biz

Redfin reported that in January 2024, the American median home sale price was approximately $402,000. The 30-year fixed-rate mortgage rate was at 6.6 In the last few years, May 2022 experienced the highest median real estate sale price at about $440,000. This average increased by 5.1

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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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5 predictions for the 2022 housing market

Housing Wire

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years. In addition, more for-sale inventory will likely be available on the market.

Marketing 545
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Miami Real Estate Luxury Home Sales Continue Surging 

Realty Biz

Miami-Dade County $1 million+ luxury home sales continued outperforming pre-pandemic levels as total median sale prices rose once again as the market leads the nation in real estate appreciation, according to April 2023 statistics released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

Sales 92
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Miami-Dade Luxury Sales Surge

Realty Biz

Miami-Dade $1-million-and-up transactions surged triple digits versus pre-pandemic 2019 transactions as total pending home sales and showing appointments rose again for the second consecutive month, according to February 2023 statistics released today by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) systems.

Sales 101