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As published by HousingWire, the consensus of ecomists’ forecasts call for lower mortgage rates in the coming year: Before you pop a top, though, notice that the range of forecasted rates for the 4th quarter of 2024 is from just over 6% to a little more than 7%, still about twice what we got used … Continue reading
The Two Big Issues the Housing Market’s Facing Right Now The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply: “Two dynamics are keeping existing-home inventory historically low – rate-locked existing homeowners and the fear of not finding something to buy.” … Continue reading
Rising mortgage interest rates have had a meaningful impact on real estate markets across the country. Consesus forecasts indicate some rate reductions later in 2023: Mortgage Rate Projections As you’ll see in my next post, this could allow some relief for the other issue that is holding market back right now — significant housing supply … Continue reading
The Federal Reserve has been raising the Fed Funds rate this year, but mortgage rates don’t always follow. This look at history is worth seeing. Continue reading
Mortgage rates are higher than we experienced in recent years. What to experts expect for the future? Here are some forecasts. Continue reading
… frequent press reports about the Federal Reserve Board raising interest rates can cause confusion among concerned mortgage borrowers who don’t understand that the Fed has no direct control in the mortgage market … Continue reading
Well, here we go again …. Mortgage interest rates (30-year fixed rate loans) have been very low for a very long time — mostly 5% or below since early 2009, and mostly 4% or lower since late 2011. There have rumors periodically during each of those years that rates were about to rise. We’re hearing … Continue reading
Mortgage interest rates have been very, very low for most of 10 years now. Rumors have come and gone many times that rates would increase soon, raising concerns among prospective home buyers, and sometimes spurring short flurries of purchases. With news this week that the Federal Reserve has raised the “Fed Funds Rate,” we’ve already seen … Continue reading
Assuming reasonably healthy economic conditions in the U.S. and internationally, mortgage rates will eventually rise. Sellers will continue to sell, and buyers will continue to buy, in virtually any interest rate environment, and rate changes will impact both. It is worth understanding and planning for, though. Continue reading
Last week the Federal Reserve raised the “Federal Funds Rate” after years of rumors that they would do so. The media got very busy discussing what that means for the economy, and for other interest rates that are important to consumers — including mortgage loans, but whether and when mortgage rate changes might happen has very little to do with the Federal Reserve Board. Continue reading
Bill Morris on Austin Real Estate 