Interest Rates

But Josh. What Now?

OK. Let’s recap 2024. From January – April things were ho-hum. Status quo. Then from May to September we saw an uptick in activity but nothing earth-shattering. Yes. The Fed rate cut gave us a change noteworthy enough to speak about. Prime rates dropped from a high of 8.5% to 8%. This will directly affect […]
My View of the Market – September 2024

Last week Jerome Powell announced what every Realtor or people looking to buy a home has been impatiently waiting for – a cut in rates. But, being the cautious observer I am, I waited a week to share what I see the cut has meant to our market. Taking in to account my own clients […]
My View of the Market – July, 2024

We’re in an interesting place right now; poised on what could be a significant shift in our real estate market. With the Federal Reserve expected to discuss potential rate cuts in their upcoming meeting, there’s a chance they might lower rates now or leave a hint about when they will make cuts. Mortgage companies tend […]
Adding to the uncertainty: those stubborn interest rates

Here we go again. In the last 2 weeks, mortgage rates have risen over .75% – taking us back to above 7%. Thus my hesitancy to predict what happens next kicks in at a higher level. We know higher rates bring fewer buyers to the table. Just like I noted above. This has held true […]

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But Josh. What Now? OK. Let’s recap 2024. From January – April things were ho-hum. Status quo. Then from May to September we saw an uptick in activity but nothing earth-shattering. Yes. The Fed rate cut gave us a change noteworthy enough to speak about. Prime rates dropped from a high of 8.5% to 8%. This will directly affect […]

My View of the Market – September 2024 Last week Jerome Powell announced what every Realtor or people looking to buy a home has been impatiently waiting for – a cut in rates. But, being the cautious observer I am, I waited a week to share what I see the cut has meant to our market. Taking in to account my own clients […]

My View of the Market – July, 2024 We’re in an interesting place right now; poised on what could be a significant shift in our real estate market. With the Federal Reserve expected to discuss potential rate cuts in their upcoming meeting, there’s a chance they might lower rates now or leave a hint about when they will make cuts. Mortgage companies tend […]

Adding to the uncertainty: those stubborn interest rates Here we go again. In the last 2 weeks, mortgage rates have risen over .75% – taking us back to above 7%. Thus my hesitancy to predict what happens next kicks in at a higher level. We know higher rates bring fewer buyers to the table. Just like I noted above. This has held true […]

Real Estate Forecast – Interest Rates Of course I have to talk about interest rates. Interest rates are still volatile. It has been a roller coaster ride for the last month. Rates go up and go back down as the Fed and the stock market reacts to new information. Last week we received news that the Fed is planning on raising […]

What about interest rates? Interest rates are still rising. It’s important to keep in mind that for every point the interest rates rise, a buyer’s buying power is reduced by 10%. This is because their monthly payment increases. Here’s an example. Let’s say you are financing $500,000 and your interest rate is 4%. Your monthly payment would be $3,079. […]

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