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Buying a Home What to Expect from the 2023 Housing Market Over 2020 and 2021, we saw a red-hot housing market. This was due to an average 3% mortgage rate and low inventory, which created a fast-paced market filled with bidding wars. In 2022, the market underwent a significant shift. Higher mortgage rates reduced buyer demand, slowed the pace of home sales, and moderated home prices. […]
Buying a Home A Window of Opportunity for Homebuyers The market is making a shift! There has been a clear impact on the housing market recently because of the rise in mortgage rates. Are we shifting back to the housing market pre-pandemic? This leveling out isn’t a bad thing.  The years leading up to the pandemic were some of the best the housing market […]
Real Estate News Mortgage Rates: Where Are They Headed? Last year Mark Fleming, Chief Economist at First American, stated that:  “You know, the fallacy of economic forecasting is: Don’t ever try and forecast interest rates and or, more specifically, if you’re a real estate economist mortgage rates, because you will always invariably be wrong.” There has never been a more accurate statement regarding forecasting […]
Real Estate News The Top Indicator if You Want To Know Where Mortgage Rates Are Heading Mortgage rates have increased significantly since the beginning of the year. Each Thursday, Freddie Mac releases its Primary Mortgage Market Survey. According to the latest survey, the average 30-year fixed-rate mortgage has risen from 3.22% at the start of the year to 3.55% as of last week. This is important to note because any increase in mortgage rates […]
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