CoreLogic Home Price Insights (HPI) reported today that home prices did heat up this year. Across the country prices rose by 7% from September 2016 to September 2017. The numbers also showed an increase from August to September of this year by .09%. These figures include distressed sales.
An interesting tidbit about the CoreLogic HPI is the data incorporates more than 40 years of repeat-sales transactions for analyzing home price trends. The CoreLogic HPI forecast for the coming year shows … Continue reading
Fall is here but home prices haven’t shown much sign of cooling off.
Home prices live in a supply & demand world. And just a few days ago, the National Association of Realtors® Chief Economist, Lawrence Yun says there will be an expected seasonal decline in new listings in the coming fall and winter months, which could accelerate home prices. … Continue reading
Higher interest rates are here. After a year plus of chatter, the Federal Reserve hiked the Federal Funds Rate yesterday. This was the first rate hike since June 29, 2006 – nearly a decade ago.
The Fed Funds Rate has remained at -0- to 0.25% since December, 2008 when the Fed slashed rates in an attempt to stimulate the economy and boost the housing market. Now, the Fed is unanimous in believing the economy is strong enough to support the … Continue reading
T-minus five days until the Federal Open Market Committee (FOMC) begins its September meeting. It has been widely anticipated the Fed would “lift off”, hiking its benchmark fed funds interest rate at the September meeting for the first time in over nine years.
But the liftoff has been contentiously debated by powerful voices on both sides.
In a Bloomberg report, Cleveland Fed President Loretta Mester said that the economy “can sustain” an increase in interest rates,
St. Louis Fed … Continue reading
The summer is sizzling and so is the housing market. Sales of previously owned homes climbed to a new high in June as the momentum in the housing market has shifted into overdrive.
If you are thinking of selling your home, here’s a few good reasons to do so:
Solid existing home sales were posted for June, up … Continue reading
Mortgage interest rates are typically a hot topic for consumers in the home buying process. In fact, it is often the first question asked of a mortgage professional without consideration of market activity and the discussion of lock versus float. Even more often the mortgage rate is the only decision factor a consumer uses when choosing their home financing lender.
There are other questions and considerations a consumer should be exploring…but that’s another discussion!
Mortgage rates are tied to mortgage … Continue reading