Minutes from the Fed’s December meeting show officials felt the economic outlook was uncertain and further hikes were still “possible.” WASHINGTON — The Federal Reserve’s policymakers concluded last month that inflationary pressures were easing and that the job market was cooling. In response, the officials chose to leave their key interest rate unchanged for the … Read more
This week, Freddie Mac reported a slight increase on the average rate on a 30-year mortgage, to 6.62% from 6.61%. LOS ANGELES — The average long-term U.S. mortgage rate edged higher this week, ending a nine-week slide that gave prospective homebuyers some breathing room after home loan borrowing soared to the highest level in more … Read more
MIAMI – Homebuyers and renters are in luck. Real estate experts predict you can expect better deals in South Florida in 2024. Thanks to a slowdown in home sales and a growing supply of residences – especially high-rises – it’ll be a good time to rent or buy, the forecasters say. Prices will lower slightly, … Read more
The media age of homebuyers is up from 39 two decades ago, suggesting finances play a critical role in homeownership. WASHINGTON – The recent shift in the demographics of homebuyers in the United States paints a concerning picture for younger generations. The median age of homebuyers has risen to 49, a significant increase from 39 … Read more
Home buyers, encouraged by declining mortgage rates and increased listings, are moving from the sidelines, the Redfin Homebuyer Demand Index found. WASHINGTON – Redfin real estate found U.S. pending home sales had the smallest decline since March 2022, dropping by 4% year over year in the four weeks ending Dec. 24. The Redfin Homebuyer Demand … Read more
Reverse mortgages – also known as Home Equity Conversion Mortgages (HECMs) – can help homeowners aged 62 and older. MIAMI, Fla. – A Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, is a HUD-insured financial product that allows homeowners aged 62 or older to convert a portion of their home equity into … Read more
The National Association of Realtors said declining mortgage rates “sparked a surge in interest.” WASHINGTON – Pending homes sales remained largely steady in November as compared to the previous month, according to the National Association of Realtors®. NAR found the Northeast, Midwest and West posted monthly gains in transactions while the South recorded losses. … Read more
The Federal Housing Finance Agency also says home prices rose 6.3% year over year. WASHINGTON – October U.S. house prices increased 0.3% from September, according to the Federal Housing Finance Agency’s (FHFA) seasonally adjusted monthly House Price Index (HPI). Home prices rose 6.3% year over year. Also, the previously reported 0.6% price increase in September … Read more
Experts say homeownership and estate planning can help close the wealth gap, which can protect assets for future generations. KEY WEST – A home is often the most valuable asset a family can own. It serves as a wealth-generating opportunity for current and future generations as the home’s value appreciates over time. Yet, for hundreds … Read more
Marketing your real estate team on social media is as important as individual social media marketing, professionals say. NEW YORK – Social media isn’t just important for individual real estate professionals. Real estate teams need to take part as well for brand awareness and career advancement. Competition in the industry is tight, but having solid … Read more
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