29 Aug 2023
By Fred Gruber

What You Need to Know About Mortgage Rates This Week – August 28, 2023

Mortgage Rates ,
Understanding the dynamics of mortgage rates is crucial in assessing the affordability of a home. These rates aren't isolated figures; they pivot on a variety of economic and market stimuli, and they can exhibit volatility from one week to another. Let's delve into the current scenario of mortgage rates and what it signifies for potential and existing homeowners: Current data indicates that while mortgage rates are elevated, there's potential for stabilization or a dip later this year if inflation undergoes moderation.1. As of August 25, a 30-year fixed mortgage stood at 7.57%. This is a marginal reduction from the prior…
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31 Oct 2022
By Fred Gruber

What’s Ahead For Mortgage Rates This Week – October 31, 2022

Financial Reports , ,
Last week’s economic news included readings on home prices from S&P Case-Shiller home price indices along with sales of new homes and federal government data on inflation. Weekly readings on mortgage rates and jobless claims were also released. S&P Case-Shiller Home Price Indices: Home Price Growth Slows in August U.S home prices fell by 9.8 percent year-over-year in August according to S&P Case-Shiller’s National Home Price Index. National home prices fell by -5.3 percent in July. The 20-City Home Price Index rose  13.1 percent year-over-year but reflected readings from markets that were stronger in 2021. Miami. Florida, Tampa, Florida, and…
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28 Apr 2020
By Fred Gruber

The ‘Golden Girls’ Strategy? Elderly Adults Share Home Ownership

Real Estate , ,
The "Golden Girls" trend got its name from the popular television sitcom about four elderly women who live together to share expenses. It is becoming a popular way in real life for elderly adults to share homeownership and it has many benefits. The cost of assisted living is quite high. The median cost in the United States for assisted living is $4,051 per month. In many parts of America, that amount makes a substantial mortgage payment. Rather than pay that high price to live in an adult assisted-living community, many able-bodied elderly are choosing to pool their resources and live…
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19 Mar 2020
By Fred Gruber

More Than 25% Of Millennial Homebuyers May Be Financially Unprepared

Mortgage , ,
Millennials are the first generation in America that will probably not be able to do as well as their parents. In the United States, there is not as much upward mobility as there was in the past. What is the cause of this? CNN reports that Millennials have more college degrees than their parents. They also have an enormous amount of student loan debt. Many millennials have lower-paying jobs than their parents had at the same age when adjusted for inflation. Spending patterns changed as well, due to the high cost of living. Finding The Money Saving is not easy.…
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31 Jan 2020
By Fred Gruber

FOMC Statement: Key Fed Rate Unchanged; Policymakers Monitor Impact of Asian Flu Outbreak

Market Outlook , ,
The Federal Open Market Committee of the Federal Reserve issued its scheduled post-meeting statement Wednesday. Policymakers unanimously decided to leave the target federal funds rate range unchanged at 1.50 to 1.75 percent. FOMC members reasserted previous views that inflation was "subdued" and the economy was growing at a moderate pace. The Fed typically bases decisions about interest rates on its dual mandate of achieving maximum employment and an annual inflation rate of 2.00 percent. U.S. Economy Strong, Fed Chair Sees No Immediate Risk From China FOMC cut the target interest rate range three times in 2019 to offset higher prices…
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31 Dec 2019
By Fred Gruber

5 Excellent Pathways To Home Ownership For Millennials

Real Estate , ,
Millennials are a huge socio-demographic group of over 83 million people. Many of them want to buy a home but face challenges that their parents did not necessarily have. Homes are more expensive. In most places, home prices rebounded to exceed the pre-2008 economic collapse values. Moreover, home prices continue to go up. The encouraging news is that there is home financing readily available and mortgage interest rates are still reasonable. Even if it is more challenging, the greatest investment that most Americans can make is buying a home. Paying rent is only helping the landlord get rich. Homeownership is…
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11 Dec 2019
By Fred Gruber

FOMC Statement: Fed Holds Steady On Its Interest Rate Range

Market Outlook , ,
The Federal Open Market Committee of the Federal Reserve announced its unanimous decision not to change to the current target federal funds range of 1.50 to 1.75 percent. The committee’s customary post-meeting statement said the decision not to change the Fed’s target range for federal funds was based on factors including a strong labor market, moderate economic growth, continued job growth, and low unemployment. Economic readings reviewed prior to the FOMC meeting held Tuesday and Wednesday supported the achievement of the committee’s dual mandate to achieve maximum employment and maintain price stability. According to the post-meeting statement issued on December…
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04 Dec 2019
By Fred Gruber

Case Shiller, FHFA Report Uptick In Home Price Growth In September

Real Estate Trends , ,
Case-Shiller’s National Home Price Index showed 3.20 percent national home price growth in September, which was 0.10 percent higher than August’s reading of 3.10 percent. The 20-City Home Price Index showed the continued impact of exorbitant home prices on both coasts as home price growth slowed in high-cost areas and smaller markets experienced upward pressure on home prices as home buyers were seeking affordable homes. Phoenix, Arizona led the 20-City Home Price Index with 6.00 percent year-over-year growth in September. Charlotte, North Caroline had 4.60 percent growth in home prices and Tampa, Florida rounded out the three cities with highest…
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26 Sep 2019
By Fred Gruber

Case-Shiller: July Home Price Growth Hits Lowest Pace in 12 Years

Market Outlook , ,
Case-Shiller's National Home Price Index reported U.S. home prices grew by 3.20 percent year-over-year in July; as compared to year-over-year home price growth 0f 3.00 percent posted in June. Cities with the highest rates of year-over-year home price growth were Phoenix, Arizona with 5.80 percent year-over-year home price growth. Las Vegas, Nevada had 4.70 percent year-over-year home price appreciation and Charlotte, North Caroline bumped Tampa, Florida from the top three cities with home price appreciation of 4.60 percent. Tampa, Florida posted 4.50 percent year-over-year home price growth in July. Home Price Growth Stalls In West 14 cities had higher home…
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18 Sep 2019
By Fred Gruber

NAHB: Home Builders Remain Confident

Market Outlook , ,
The National Association of Home Builders Housing Market Index shows steady builder confidence in housing market conditions. September's index reading of 68 was one point higher than August's reading. Any reading over 50 indicates that most home builders surveyed view housing market conditions as favorable. August's original index reading was adjusted upward by one point. Component readings for the Housing Market Index were mixed. Builder confidence in current market conditions rose two points to index reading of 75; this was the highest reading year-over-year. Builder confidence in home sales over the next six months fell by one point to 70.…
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