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Category: Pricing

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What’s Ahead for Mortgage Rates and Home Prices?

Written by St. George Island Mortgage Mortgage Syndicated User on . Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage St. George Island, Move-Up Buyers, Pricing, St. George Island Mortgage.

Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next year and what that may mean if you’re thinking about buying a home. Here’s a look at the latest expert insights on both mortgage rates and home prices so you can make your best move possible. Mortgage Rates Will Continue To Respond to Inflation There’s no doubt mortgage rates have skyrocketed this year as the market responded to high inflation. The increases we’ve seen were fast and dramatic, and the average 30-year fixed mortgage rate even surpassed 7% at the end of last...

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Key Factors Affecting Home Affordability Today

Written by St. George Island Mortgage Mortgage Syndicated User on . Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage St. George Island, Move-Up Buyers, Pricing, St. George Island Mortgage.

Every time there’s a news segment about the housing market, we hear about the affordability challenges buyers are facing today. Those headlines are focused on how much mortgage rates have climbed this year. And while it’s true rates have risen dramatically, it’s important to remember they aren’t the only factor in the affordability equation. Here are three measures used to establish home affordability: home prices, mortgage rates, and wages. Let’s look closely at each one. 1. Mortgage Rates This is the factor most people are focused on when they talk about homebuying conditions today. So...

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3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008

Written by St. George Island Mortgage Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Mortgage St. George Island, Pricing, St. George Island Mortgage.

With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to show why this is nothing like the last time. There’s Still a Shortage of Homes on the Market Today, Not a Surplus For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to fall dramatically....

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What’s Ahead for Home Prices?

Written by St. George Island Mortgage Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Housing Market Updates, Mortgage St. George Island, Pricing, St. George Island Mortgage.

As the housing market cools in response to the dramatic rise in mortgage rates, home price appreciation is cooling as well. And if you’re following along with headlines in the media, you’re probably seeing a wide range of opinions calling for everything from falling home prices to ongoing appreciation. But what’s true? What’s most likely to happen moving forward? While opinions differ, the most likely outcome is we’ll fall somewhere in the middle of slight appreciation and slight depreciation. Here’s a look at the latest expert projections so you have the best information possible...

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