It’s a new year, offering a new beginning with new opportunities. By all accounts, 2017 will bring in the new purchase market and ring out the old refinances. With that, things will definitely change. New business will now come from Realtors and Builders. They need to be serviced as much as the consumers buying the homes they offer. Things are…
We all knew that those extremely low mortgage rates couldn’t go on indefinitely. The time has come for rates to rise but it appears they may not have such a devastating effect on the housing market. Although forecasts for 2017 and 2018 are being adjusted down, the decrease is not that substantial. The good news is that we are…
Some believe that the rising mortgage rates may spell a real problem for the continuance of a housing recovery. That may be. However, based on the results of the recent Berkshire Hathaway HomeServices’ Homeowners Sentiment Survey (the BtripleHdoubleS), many are still optimistic about the state of the housing market. Ironically, the most optimistic group are the Millennials. About 74% have…
Two recent reports, one by Fannie and another by Trulia, an online marketplace, indicate that consumers may be a little less optimistic when it comes to homeownership. The Fannie Mae Home Purchase Sentiment Index declined for the fourth straight month in November by about a half a percent (not much). This included information gathered both pre and post-election. Interestingly, Trulia…
Home prices increased about 6% over 1 year ago, and are projected to continue to rise at a rate of about 5% over the next year. That’s a pretty good jump in values over a two-year period creating wealth for existing homeowners in the form of increased home equity. What this means is that these homeowners have access to additional…
Like a river, the economy must keep flowing. Sometimes it may get dammed or re-routed but it’s got to keep moving. It cannot stand stagnant. That isn’t good for anyone. Based on all indicators it appears the economy is moving (growing) and with the election of Mr. Trump, conventional wisdom is it will grow even more. It seems that should…
