Experts Project Mortgage Rates Will Continue To Rise in 2022

Written by Lakeland FL Mortgage Syndicated User on November 4, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Lakeland FL Mortgage, Mortgage Lakeland FL, Move-Up Buyers, Pricing.

Mortgage rates are one of several factors that impact how much you can afford if you’re buying a home. When rates are low, they help you get more house for your money. Within the last year, mortgage rates have hit the lowest point ever recorded, and they’ve hovered in the historic-low territory. But even over the past few weeks, rates have started to rise. This past week, the average 30-year fixed rate was 3.14%. What does this mean if you’re thinking about making a move? Waiting until next year will cost you more in the long run. Here’s a look at what several experts project for mortgage rates...

Sellers Have Incredible Leverage in Today’s Market

Written by Lakeland FL Mortgage Syndicated User on November 3, 2021. Posted in For Sellers, Housing Market Updates, Interest Rates, Lakeland FL Mortgage, Mortgage Lakeland FL, Move-Up Buyers, Pricing.

With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), puts it best, saying: “Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.” But the sense of urgency they feel is complicated by the lack of homes for sale in today’s market. According to the latest Existing Home Sales Report from NAR: “From one year ago, the inventory of unsold homes decreased...

Housing Challenge or Housing Opportunity? It Depends.

Written by Lakeland FL Mortgage Syndicated User on November 1, 2021. Posted in For Sellers, Housing Market Updates, Interest Rates, Lakeland FL Mortgage, Mortgage Lakeland FL, Move-Up Buyers, Pricing.

The biggest challenge in real estate today is the lack of available homes for sale. The low housing supply has caused homes throughout the country to appreciate at a much faster rate than what we’ve experienced historically. There are many reasons for the limited number of homes on the market, but as you can see in the graph below, we’re well below where we’ve been for most of the past 10 years. Today, across the country, there is only a 2.4-month supply of homes available for sale. The Opportunity This lack of homes for sale is creating a challenge for many buyers who are growing frustrated...

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