The Three Factors Affecting Home Affordability Today

Written by Marathon Florida Keys Mortgage on April 26, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determined by a combination of mortgage rates, home prices, and wages. Considering how each one of these factors is changing gives you the full picture of home affordability today. Here’s the latest. 1. Mortgage Rates While mortgage rates are higher than they were a year ago, they’ve hovered primarily between...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

What Are the Experts Saying About the Spring Housing Market?

Written by Marathon Florida Keys Mortgage on April 25, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

The housing market’s been going through a lot of change lately, and there’s been uncertainty surrounding what will happen this spring. You may be wondering if more homes will go on the market, what’s next with home prices and mortgage rates, or what the best advice is for someone in your position right now. Here’s what industry experts are saying right now about the spring housing market and what it means for you: Selma Hepp, Chief Economist, CoreLogic: “We see more competition among buyers . . . Housing supply also tends to grow during the spring months. And this is also the time of year when...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Think Twice Before Waiting for Lower Home Prices

Written by Marathon Florida Keys Mortgage on April 17, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Millennials, Move-Up Buyers, Pricing.

As the housing market continues to change, you may be wondering where it’ll go from here. One factor you’re probably thinking about is home prices, which have come down a bit since they peaked last June. And you’ve likely heard something in the news or on social media about a price crash on the horizon. As a result, you may be holding off on buying a home until prices drop significantly. But that’s not the best strategy. A recent survey from Zonda shows 53% of millennials are still renting right now because they’re waiting for home prices to come down. But here’s the thing: the most recent...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

The Key Advantage of Investing in a Home [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 7, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Trying To Buy a Home? Hang in There.

Written by Marathon Florida Keys Mortgage on April 6, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

We’re still in a sellers’ market. And if you’re looking to buy a home, that means you’re likely facing some unique challenges, like difficulty finding a home and volatile mortgage rates. But keep in mind, there are some benefits to being a buyer in today’s market that give you good reason to stick with your search. Here are a few of them. Long-Term Benefits Outweigh Short-Term Challenges Owning a home grows your net worth – and since building that wealth takes time, it makes sense to start as soon as you can. If you wait to buy and keep renting, you’ll miss out on those monthly housing payments...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why Buying a Home Is a Sound Decision

Written by Marathon Florida Keys Mortgage on March 23, 2023. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

If you’re thinking about buying a home, you want to know the decision will be a good one. And for many, that means thinking about what home prices are projected to do in the coming years and how that could impact your investment. This year, we aren’t seeing home prices fall dramatically. As the year goes on, however, some markets may go up in value while others may lose value. That’s why it’s helpful to keep the long-term view in mind. Experts project a return to a steadier rate of price appreciation in the years that follow. Home Price Appreciation in the Years Ahead Over 100 economists,...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Here’s Why the Housing Market Isn’t Going To Crash [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on March 17, 2023. Posted in For Sellers, Foreclosures, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Equity Gains for Today’s Homeowners

Written by Marathon Florida Keys Mortgage on March 2, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Today’s homeowners are sitting on significant equity, even as home price appreciation has eased recently. If you’re a homeowner, your net worth got a boost over the past few years thanks to rising home prices. Here’s what it means for you, even as the market moderates.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Wondering What’s Going on with Home Prices?

Written by Marathon Florida Keys Mortgage on February 16, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

The recent changes in home prices are top of mind for many as the housing market begins gearing up for spring. It can be hard to navigate misleading headlines and confusing data, so here’s what you should know about today’s home prices.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Homeownership Builds Your Wealth over Time [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on January 27, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

The 3 Factors That Affect Home Affordability

Written by Marathon Florida Keys Mortgage on January 24, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors that determine housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at CoreLogic, shares:

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Want To Sell Your House? Price It Right.

Written by Marathon Florida Keys Mortgage on January 23, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing, Selling Myths.

Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you’re thinking of selling your house soon, that means you’ll want to adjust your expectations accordingly. As realtor.com explains:

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

What’s Really Happening with Home Prices? [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on January 20, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Have Home Values Hit Bottom?

Written by Marathon Florida Keys Mortgage on January 18, 2023. Posted in For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

Whether you’re already a homeowner or you’re looking to become one, the recent headlines about home prices may leave you with more questions than answers. News stories are talking about home prices falling, and that’s raising concerns about a repeat of what happened to prices in the crash in 2008.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

What To Expect From the Housing Market in 2023

Written by Marathon Florida Keys Mortgage on December 21, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates. And in many ways, it’s put the market into a reset position. As the Federal Reserve (the Fed) made moves this year to try to lower inflation, mortgage rates more than doubled – something that’s never happened before in a calendar year. This had a cascading impact on buyer activity, the balance between supply and demand, and ultimately home prices. And as all those things changed, some buyers and sellers put their plans on hold and decided to wait until the market felt a bit more predictable. But...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Homeowners Still Have Positive Equity Gains over the Past 12 Months

Written by Marathon Florida Keys Mortgage on December 20, 2022. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

If you’re a homeowner, your net worth got a big boost over the past few years thanks to rapidly rising home prices. Here’s how it happened and what it means for you, even as the market moderates. Equity is the current value of your home minus what you owe on the loan. Because there was a significant imbalance between the number of homes available for sale and the number of buyers looking to make a purchase over the past few years, home prices appreciated substantially. And while home price appreciation has moderated this year, and even depreciated slightly in some overheated markets, that...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

What’s Going on with Home Prices? Ask a Professional.

Written by Marathon Florida Keys Mortgage on December 6, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

If you’re thinking about buying or selling a home this year, you may have questions about what’s happening with home prices today as the market cools. In the simplest sense, nationally, experts don’t expect prices to come crashing down, but the level of home price moderation will depend on factors like supply and demand in each local market. That means, moving forward, home price appreciation will continue to vary by location, with more significant changes happening in overheated areas. Here’s a quick snapshot of what the experts are saying: Danielle Hale, Chief Economist at realtor.com, says: “The...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

What’s Ahead for Mortgage Rates and Home Prices?

Written by Marathon Florida Keys Mortgage on November 9, 2022. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next year and what that may mean if you’re thinking about buying a home. Here’s a look at the latest expert insights on both mortgage rates and home prices so you can make your best move possible. Mortgage Rates Will Continue To Respond to Inflation There’s no doubt mortgage rates have skyrocketed this year as the market responded to high inflation. The increases we’ve seen were fast and dramatic, and the average 30-year fixed mortgage rate even surpassed 7% at the end of last month....

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Key Factors Affecting Home Affordability Today

Written by Marathon Florida Keys Mortgage on November 7, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Every time there’s a news segment about the housing market, we hear about the affordability challenges buyers are facing today. Those headlines are focused on how much mortgage rates have climbed this year. And while it’s true rates have risen dramatically, it’s important to remember they aren’t the only factor in the affordability equation. Here are three measures used to establish home affordability: home prices, mortgage rates, and wages. Let’s look closely at each one. 1. Mortgage Rates This is the factor most people are focused on when they talk about homebuying conditions today. So far,...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008

Written by Marathon Florida Keys Mortgage on October 26, 2022. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to show why this is nothing like the last time. There’s Still a Shortage of Homes on the Market Today, Not a Surplus For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to fall dramatically. Supply...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

What’s Ahead for Home Prices?

Written by Marathon Florida Keys Mortgage on October 20, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

As the housing market cools in response to the dramatic rise in mortgage rates, home price appreciation is cooling as well. And if you’re following along with headlines in the media, you’re probably seeing a wide range of opinions calling for everything from falling home prices to ongoing appreciation. But what’s true? What’s most likely to happen moving forward? While opinions differ, the most likely outcome is we’ll fall somewhere in the middle of slight appreciation and slight depreciation. Here’s a look at the latest expert projections so you have the best information possible today. What...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Perspective Matters When Selling Your House Today

Written by Marathon Florida Keys Mortgage on October 13, 2022. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing, Selling Myths.

Does the latest news about the housing market have you questioning your plans to sell your house? If so, perspective is key. Here are some of the ways a trusted real estate professional can explain the shift that’s happening today and why it’s still a sellers’ market even during the cooldown. Fewer Homes for Sale than Pre-Pandemic While the supply of homes available for sale has increased this year compared to last, we’re still nowhere near what’s considered a balanced market. A recent article from Calculated Risk helps put this year’s increased inventory into context (see graph below): It...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Category: Pricing