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Tag: #homebuyerexperts

Reasons You Should Consider Selling This Fall

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.

Reasons You Should Consider Selling This Fall | Simplifying The Market

If you’re trying to decide when to sell your house, there may not be a better time to list than right now. The ultimate sellers’ market we’re in today won’t last forever. If you’re thinking of making a move, here are four reasons to put your house up for sale sooner rather than later.

1. Your House Will Likely Sell Quickly

According to the Realtors Confidence Index released by the National Association of Realtors (NAR), homes continue to sell quickly – on average, they’re selling in just 17 days. As a seller, that’s great news for you.

Average days on market is a strong indicator of buyer demand. And if homes are selling quickly, buyers have to be more decisive and act fast to submit their offer before other buyers swoop in.

2. Buyers Are Willing To Compete for Your House

In addition to selling quickly, homes are receiving multiple offers. That same survey shows sellers are seeing an average of 4.5 offers, and they’re competitive ones. The graph below shows how the average number of offers right now compares to previous years:Reasons You Should Consider Selling This Fall | Simplifying The MarketBuyers today know bidding wars are a likely outcome, and they’re coming prepared with their best offer in hand. Receiving several offers on your house means you can select the one that makes the most sense for your situation and financial well-being.

3. When Supply Is Low, Your House Is in the Spotlight

One of the most significant challenges for motivated buyers is the current inventory of homes for sale. Though it’s improving, it remains at near-record lows. The chart below shows how today’s low inventory stacks up against recent years. The lighter the blue is in the chart, the lower the housing supply.
Reasons You Should Consider Selling This Fall | Simplifying The MarketIf you’re looking to take advantage of buyer demand and get the most attention for your house, selling now before more listings come to the market might be your best option.

4. If You’re Thinking of Moving Up, Now May Be the Time

If your current home no longer meets your needs, it may be the perfect time to make a move. Today, homeowners are gaining a significant amount of wealth through growing equity. You can leverage that equity, plus current low mortgage rates, to power your move now. But these near-historic low rates won’t last forever.

Experts forecast interest rates will rise. In their forecast, Freddie Mac says:

“While we forecast rates to increase gradually later in the year, we don’t expect to see a rapid increase. At the end of the year, we forecast 30-year rates will be around 3.4%, rising to 3.8% by the fourth quarter of 2022.”

When rates rise, even modestly, it’ll impact your monthly payment and by extension your purchasing power.

Bottom Line

Don’t delay. The combination of housing supply challenges, low mortgage rates, and extremely motivated buyers gives sellers a unique opportunity this season. If you’re thinking about making a move, let’s chat about why it makes sense to list your house now.

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

#fidelityhomegroup, #homebuyerexperts, For Sellers, Interest Rates, Move-Up Buyers

Mortgage Rates Relatively Unharmed, Despite Unexpected Moves in Bonds

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

It was a busy week for economic data with several reports that were pertinent to the housing market. In addition to being the perennial top dog among economic reports, this Friday’s jobs report was especially important due to its role in the Federal Reserve’s decision-making process.

The Fed is widely expected to announce a forthcoming reduction (aka “tapering) of its bond buying program by the end of the year.  If the jobs report had been strong enough, investors thought the Fed might make the announcement a few weeks from now at the September policy meeting.  

 

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Fidelity Home Group | Mortgage News | Mortgage Rates

#fidelityhomegroup, #homebuyerexperts, #mortgagerates #mortgagenews # mortgage, bond markets, Interest Rates, mortgage rates

MBS RECAP: MBS Outperformance is Part of the Answer to Today’s Riddle

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

MBS Outperformance is Part of the Answer to Today’s Riddle

When does an obviously weak jobs report result in bonds losing ground?  We already know the answer (spoiler alert: it’s “today”), but the reasons behind the answer are up for debate to some extent.  The focus of the morning’s commentary was to lay most of those reasons out with charts, but as the day progressed, MBS outperformance helped emphasize one of the factors even more.  We discuss that in…

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Fidelity Home Group | Mortgage News | Mortgage Rates

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400,000 Homeowners Enter Final Month in Forbearance

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

Black Knight estimates that nearly 630,000 forbearance plans, more than one-third of those currently active, are slated for review this month. Of those, 400,000 will have reached the end of their 18 months of forbearance eligibility unless the maximum term is extended again. The end of August saw a significant decline in forbearance numbers as servicers worked through the month’s crop of three-month reviews. Plans declined by 53,000 over the week ended August 31 with more than 23,000 from FHA or VA portfolios. The number of GSE (Fannie Mae and Freddie Mac) loans dropped by 20,000 and loans serviced for bank portfolios or private label securities (PLS) saw a 10,000 unit decline. The number of plans is down by 9 percent since the end of July.

 

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Fidelity Home Group | Mortgage News | Mortgage Rates

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Conventional Loans Take 76% Market Share, Highest Since 2008

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

Fannie Mae and Freddie Mac are running away with new home financing. The National Association of Home Builders (NAHB) estimates that conventional loans were behind 76.3 percent of all new home sales in the second quarter of the year. David Logan, writing in the NAHB Eye on Housing Blog, says this is the largest share those loans have held since the beginning of the Great Recession in 2008. It was 5.1 percentage points higher than the conventional loan share in Q1 and 9.5 points more than in the second quarter of 2020. The growth in conventional lending was largely at the expensive of FHA. Those loans financed 12.1 percent of new home sales in Q2, down 6.7 points from the previous quarter and 8.3 points year-over-year. Logan said that the four-quarter moving average in the FHA share had been moving higher since Q3 2018, however, the second quarter data depressed that average by 1.1 point.

 

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Fidelity Home Group | Mortgage News | Mortgage Rates

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MBS Day Ahead: 7 Charts to Help Make Sense of Paradoxical Jobs Report Reaction

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

Nonfarm Payrolls came in at 235k versus a median forecast of 728k.  Poll a hundred market strategists about the likely market impact and 99 of them would tell you a bond rally would be all but guaranteed and that stocks would be soaring on expectations of prolonged Fed accommodation.  While many of those strategists will be expending significant effort on making sense of this today, several key points have already emerged (with the truth likely being some combination of the following).  

Sector-Specific Drama

Today’s “miss” is concentrated in Retail Trade…

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Fidelity Home Group | Mortgage News | Mortgage Rates

#fidelityhomegroup, #homebuyerexperts, #mortgagerates #mortgagenews # mortgage

Your Agent Is Key When Pricing Your House [INFOGRAPHIC]

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.

Your Agent Is Key When Pricing Your House [INFOGRAPHIC] | Simplifying The Market

Your Agent Is Key When Pricing Your House [INFOGRAPHIC] | Simplifying The Market

Some Highlights

  • Pricing your house right takes market experience and expertise.
  • To find the best list price, your agent balances current market demand, values of homes in your neighborhood, where prices are headed, and your home’s condition.
  • If you’re ready to sell, don’t guess on the price. Let’s connect today so we price your house to attract multiple offers and maximize your return on investment.
Content previously posted on Keeping Current Matters Fidelity Home Group | Home Buyer Experts | Mortgage Rates

#fidelityhomegroup, #homebuyerexperts, For Sellers, FSBOs, Infographics, Pricing

MBS RECAP: Particularly Calm Before a Particularly Important NFP

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

Particularly Calm Before a Particularly Important NFP

The widest trading range of the week has been 4.5bps (Tuesday), but tomorrow’s jobs report could easily result in twice as much movement, or even three times as much.  Based on the relevant technical levels, that means bonds closed in the most neutral position possible (1.30% in 10yr yields leaves an equal amount of distance to the top and bottom of the 4-week range).  With that level already marking the…

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Fidelity Home Group | Mortgage News | Mortgage Rates

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Mortgage Rates Barely Changed Ahead of Important Jobs Report

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

Mortgage rates are based primarily on bonds.  Bonds take cues from economic data (among other things).  And tomorrow’s big jobs report is the most consistently important piece of economic data each month as far as the bond market is concerned.  This logically means that there is an increased risk of volatility tomorrow.

Compounding the issue is the fact that the Fed is also paying careful attention to labor market data as they wait for evidence of enough progress to begin tapering their monthly bond purchases.  The Fed’s bond buying program is a key reason that rates are as low as they are.  Although the market is widely expecting a tapering announcement by the end of the year, the timing of the announcement would have a noticeable incremental effect on rates.

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Fidelity Home Group | Mortgage News | Mortgage Rates

#fidelityhomegroup, #homebuyerexperts, #mortgagerates #mortgagenews # mortgage, bond markets, Interest Rates, mortgage rates