How is the 2023 Housing Market Different From 2008? When the pandemic started in 2020, the Federal Reserve anticipated a major downswing in consumer confidence. This led to a great decline in borrowing activity. To stimulate the economy, they lowered interest rates to record lows, causing the average 30-year mortgage
These Are the 3 Real Estate Markets to Watch in 2023 — And What Brought Us Here Over the past couple of years, mortgage rates have soared, putting welcome pressure on a housing market sizzling out of control. Recently, this inferno has begun cooling. It’s led some analysts to wonder:
. Recession vs. Depression As interest rates continue to climb, so does the cost of living. In the housing market, everyone’s eyes are watching the mortgage rate as it reaches double and triple its pandemic lows. It’s normal for prices to fluctuate throughout the year, but understanding the interplay of
Everything You Need to Know About Real Estate Direct Mail Before the internet, direct mail was the No. 1 marketing technique for real estate professionals. However, new technologies like email and social media soon replaced real estate mailers as the preferred method for generating leads and increasing awareness. Research from
Market Prediction: Will Mortgage Rates Drop in 2023? During the pandemic, the average rate for a 30-year mortgage was 2.68%. Today, it’s sitting at around 6.3%. These rising interest rates and sky-high housing prices have left many investors and potential buyers worrying about affordability. The critical question is: will mortgage
What Do Higher Interest Rates Mean for Your Real Estate Business? Experts predict that the Federal Research will hike interest rates to at least 4% by the end of 2022 and stay at that level throughout 2023. The catalyst behind the current rate changes is inflation, which happens when the cost of
The U.S. Central Bank hiked interest rates by three-quarters of a point in September—the third rate increase in 2022. When writing this blog post, costs for property buyers had reached 3-3.25 percent after being near zero until the spring. Experts predict rates to be at least 4 percent by the end of the year.
Finding Off-Market Listings in 2023 Most people looking for properties typically follow this trajectory: They check a real estate marketplace like Zillow or Redfin with properties from multiple listing services. They contact the realtor or real estate agent that listed the property on a multiple listing service (MLS). When they’ve settled
Top 7 Factors that Affect Home Values During the Year Figuring out what affects a home’s value could drive you crazy. In truth, values naturally fluctuate based on many factors. However, your home’s value ultimately equals whatever a buyer is willing to pay for it on the open market. So,
Photo credit It’s safe to say federal interest rates have been anything but consistent over the last year. As of Friday, October 21, the current average rate of a 30-year fixed mortgage is 7.32 percent—up 15 basis points from the previous week. That’s because the U.S. Central Bank raised the federal interest
