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Tag: #homebuyerexperts

Mortgage Rates Falling Back in Line With Best Recent Levels

Written by on . Posted in Current Mortgage Rates, Mortgage News, Mortgage Rates.

Mortgage rates started the day modestly lower, but many lenders ended up offering mid-day improvements in response to market conditions.

When it comes to rates, the bond market sets the tone.  Bonds can move for a variety of reasons, but economic data is one of the quintessential inputs.  If the incoming data suggests a hotter economy or higher inflation, rates tend to rise.   The opposite is also true (weaker data = lower rates) as was the case today.

The Bureau of Labor Statistics released the Consumer Price Index for the month of August today. 

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MBS Day Ahead: Tamer Inflation Makes Next Week’s Fed Less Scary

Written by on . Posted in Current Mortgage Rates, Mortgage News, Mortgage Rates.

Today’s Consumer Price Index (CPI) was one of the only big ticket economic reports left before next week’s Fed announcement, and perhaps the only one that could have meaningfully impacted the Fed’s decision-making process.  Granted, that would have taken a shockingly big number, but by coming in tamer than expected, today’s result removes any doubts.  

Stocks and bonds did what stocks and bonds normally do when they receive an update that affects the Fed’s tapering outlook.  The same sorts of trades can be seen after the jobs report 2 weeks ago, and Powell’s…

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The Truth About Today’s Buyer Demand

Written by Fidelity Home Group Syndicated User on . Posted in Baby Boomers, First Time Home Buyers, For Buyers, Move-Up Home Buyers, Real Estate Updates.

The Truth About Today’s Buyer Demand | Simplifying The Market

When it comes to the latest news in real estate, there are a lot of sensational headlines in the media. In times like this, when it can be hard to know what to believe, put your trust in the experts. Those of us in the housing market respect that buying or selling a home is a major life decision, and we offer advice based on what the data shows.

Despite what you may have read, the housing market is still undeniably strong. Here’s a look at what leading experts have to say about buyer demand today and how it continues to shape the industry:

Michael Lane, President at ShowingTime:

“In general, there are definite signs of cooling demand. However, buyer traffic is still at historically high levels compared to pre-pandemic showings.”

Odeta Kushi, Deputy Chief Economist at First American:

“Seasonally adjusted purchase applications tick up slightly to the highest level since July. Demand for homes remains strong and steady. Excluding 2020 (not a good benchmark) purchase applications are the strongest in a decade.” 

Selma Hepp, Deputy Chief Economist at CoreLogic:

“Home buyer demand pushed price growth to a new record high in June, with S&P CoreLogic national Case-Shiller Index clocking in an 18.6% year-over-year growth rate. The month-to-month index jumped 2.18%, making it another strong monthly growth, and the fastest May-to-June increase since the data series began.”

What It Means for You

As a seller, buyer demand is an important factor that helps influence how fast your house will sell and how many buyers may be competing for it. When buyers have to compete against each other for a limited supply of available homes, bidding wars can drive prices up. While things have cooled slightly since the peak of the pandemic housing rush, buyer demand is still far surpassing historical norms. That’s why we’re still in a sellers’ market.

Bottom Line

If you’re torn on whether or not you want to sell your home this year, rest assured it’s still a great time to make a move. Let’s connect to discuss how you can sell now and do it on your best terms thanks to today’s buyer demand.

Content previously posted on Keeping Current Matters Fidelity Home Group | Home Buyer Experts | Mortgage Rates

#fidelityhomegroup, #homebuyerexperts, For Sellers, Housing Market Updates, Selling Myths

MBS RECAP: Quiet Summertime Monday Leaves Bonds Slightly Stronger

Written by on . Posted in Current Mortgage Rates, Mortgage News, Mortgage Rates.

Quiet Summertime Monday Leaves Bonds Slightly Stronger

Treasuries have experienced more of the volatility in the bond market than MBS recently.  That makes sense given last week’s auction cycle and the ongoing glut of corporate bond issuance.  Volume and volatility were both minimal today as yields casually bumped the bottom of the consolidation range and coasted sideways for the rest of the day.  There are a few chances to see some data-inspired market…

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Mortgage Rates Flat to Start The Week

Written by on . Posted in Current Mortgage Rates, Mortgage News, Mortgage Rates.

Mortgage rates were fairly flat to start the new week.  This leaves the average lender in the high 2% range for top tier conventional 30yr fixed  scenarios (i.e. 20%+ equity, 740+ FICO, owner-occupied, single-family, detached homes).  This is just a bit higher than the all-time lows seen at the beginning of the year when rates were in the mid-2% range.

There’s disagreement about where we go from here.  The easy answer–and probably the more common one–is that rates will gradually move higher as we continue to distance ourselves from the worst days of the pandemic.  But that answer actually implies its own counterpoint: a lot depends on covid!  Specifically, if the delta-driven case count spike doesn’t quietly subside, and more importantly, if cases accelerate into the fall months, rates could remain in this all-time low territory.  Moreover, if covid ends up translating to new, measurable economic damage, rates could even re-challenge previous lows.

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MBS Week Ahead: Stronger Start Despite Charts; Some Data This Week, But Fed Day Remains in Focus

Written by on . Posted in Current Mortgage Rates, Mortgage News, Mortgage Rates.

There is a smattering of data in the week ahead with Tuesday’s CPI and Thursday’s Retail Sales reports being the headliners.  Data is merely a “potential” market mover though.  Next week’s Fed announcement is an “almost certain” source of volatility, for better or worse.  In addition, by this time next week, markets will have a better sense of whether covid numbers actually turned a corner last week or if it was merely a byproduct of the holiday weekend. That leaves this week as a sort of prologue to next week’s main events, but data and corporate bond supply could still…

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Why It’s Still Safe To Sell Your Home

Written by Fidelity Home Group Syndicated User on . Posted in Baby Boomers, First Time Home Buyers, For Buyers, Move-Up Home Buyers, Real Estate Updates.

Why It’s Still Safe To Sell Your Home | Simplifying The Market

If you’re on the fence about whether or not you want to sell your house this year, there’s good news. Real estate professionals are highly experienced in how to sell houses safely during the pandemic. Over the last year, agents have adopted new technologies and safety measures designed to keep you safe. And experts say these practices are here to stay. As Bob Goldberg, CEO of the National Association of Realtors (NAR), puts it:

“The pandemic has confirmed to all of us in the industry that technology will continue to transform real estate.”

Below is a closer look at some of the new tools real estate professionals are using to better serve sellers.

New and Existing Technology Are Impacting the Process

In the 2021 Realtor Technology Survey, NAR asks real estate professionals their opinions on the most valuable pieces of technology for their business over the past 12 months. The graph below highlights the top five tools those agents said are true game-changers:Why It’s Still Safe To Sell Your Home | Simplifying The MarketTools that allow agents to serve clients at a distance and limit exposure to others, including eSignature, lockboxes, and video conferencing, became increasingly important during the last year. Those same tools are just as essential today. Restricting the number of people a seller must interact with during the process is the best way to keep all parties involved in a sale safe.

Trusted Advisors Stay Up to Date on Guidelines for In-Person Showings

As things change in our day-to-day lives, the guidance on how to stay safe changes as well. NAR regularly updates the resources available to real estate professionals to ensure the latest recommendations and best practices are readily available. This includes suggestions on how to continue to conduct safe in-person showings.

Agents also follow guidance from the Centers for Disease Control (CDC) to make sure homes are safe. The CDC’s advice includes information on how to clean high-touch surfaces like doorknobs, tables, and countertops so they’re disinfected for all.

This past year changed the way agents do things for the better. Real estate professionals use new technology, tools, cleaning procedures, and the latest guidance to meet your changing needs. The goal is to keep you safe and build your confidence throughout the sales process.

Bottom Line

It’s important to know that your safety is still a top priority when it comes to selling this year. Let’s connect today so you can have the best tools available to help you take advantage of today’s sellers’ market.

Content previously posted on Keeping Current Matters Fidelity Home Group | Home Buyer Experts | Mortgage Rates

#fidelityhomegroup, #homebuyerexperts, For Sellers, Housing Market Updates, Selling Myths

Rate Reckoning Draws Closer

Written by on . Posted in Current Mortgage Rates, Mortgage News, Mortgage Rates.

Rates are dictated by the bond market and bonds are flashing a warning sign about volatility on the horizon. In other words, rates look like they’re ready to make a bigger move in the near future, for better or worse.

This isn’t readily apparent at first glance–especially when it comes to mortgage rates (which are still very close to all-time lows).  Even when we look at a rate benchmark like 10yr Treasury yields, it seems that volatility has died down recently. 

But the absence of volatility is actually the problem.  Rates had been moving decisively higher early in the year as vaccines and fiscal stimulus fueled hopes of a quicker economic recovery.  More recently, political gridlock and the delta-driven surge in covid cases took 10yr yields back in the other direction. 

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MBS RECAP: Bond Weakness Reinforces The Consolidation Pattern

Written by on . Posted in Current Mortgage Rates, Mortgage News, Mortgage Rates.

Bond Weakness Reinforces The Consolidation Pattern

Bonds were weaker overnight and the selling trend continued fairly steadily throughout the day.  The only exception was a bigger yield spike that coincided with (but wasn’t necessarily caused by) the EU close.  It is worth noting, however, that yields topped out the moment after the EU closing bell and have been sideways in a narrow range since then.  Jargon terms like “position squaring” and “illiquidity” …

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Lenders Continue to Expect Falling Profits, Refinancing Demand

Written by on . Posted in Current Mortgage Rates, Mortgage News, Mortgage Rates.

With interest rates expected to rise and most homeowners who could benefit from refinancing having done so, mortgage bankers are not expecting the sometimes record profits of the last year or so to continue. Fannie Mae’s third quarter Mortgage Lender Sentiment Survey (MLSS) found just short of a majority of respondents expecting their profit margins to decline over the next three months, although that has also been the primary sentiment for the past three quarters. The current survey found 46 percent of lenders expecting a decrease in profits, down from 69 percent in the prior survey. Thirty-eight percent believe their profits will be unchanged and 15 percent expect them to be higher. Those expecting slimmer margins cited increased competition and changing market conditions for their pessimism, while GSE pricing and policies and strong consumer demand were the top reasons given among lenders with a more positive profitability outlook. 

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