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Mortgage rates might soar even higher

Housing Wire

“Now the Fed has signaled that it will hike rates several more times this year and next year, so mortgage rates have plenty of room to go up even more.”. We do not see new construction returning in a meaningful way any time soon. Kurt Carlton, President of New Western. According to the NAR, there were 1.28

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What Are Builder Incentives? The Secret to Getting a Deal on a New-Construction Home

Realtor.com

to “Purchase before X date, and we’ll pay all of your closing costs.”. Many happen at the initial launch to help generate buzz for a new community and get the first few residents on board. Builders often work closely with certain lenders because they want to know that the loan will close without delay once the home is completed.

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

Realty Biz

The 30-year fixed-rate mortgage rate was at 6.6 At the same time, new constructions struggle to keep up with the market. Building materials were a real nail-biter, forming the core of the construction industry's concerns. This average increased by 5.1 percent from the previous year.

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

Marco Santarelli

As concerns grow, investors are advised to closely monitor the housing market's unpredictable fluctuations. A Blast from the Past: The 1980s and High-Interest Rates Those who lived through the early 1980s recall the devastating impact of soaring interest rates on the U.S. economy and the real estate market.

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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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Renting vs Buying in Birmingham, AL: Which is Right for You?

Redfin

Stable monthly payments One of the biggest advantages to buying a home in Birmingham with a fixed-rate mortgage is that you’ll have the same monthly mortgage payment throughout the duration of your mortgage. Do you want to be close to public transit or something further from the city?

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With Housing Prices Spiking Everywhere, Where Is It Cheaper To Rent vs. Buy?

Realtor.com

We then looked at the median home prices in those 100 places and calculated the monthly cost of buying with a 30-year fixed-rate mortgage. A newly built, three-bedroom home close to Lackland Air Force Base, a big employer in the area, was recently listed for just $255,000. Census data. Scranton, PA. Monthly payment: $715.