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Whatever love looks like to you, I am ready to help you find it – in a home. Just send me an email if you’re ready to find your next property! jf@JoanneFishman.com
Real Estate •
January 31, 2024
Mortgage Giant Expects Busy Home Buying Spring
The average 30-year fixed-rate mortgage has remained in a narrow range over the last month and now stands at 6.69 percent, according to Fannie Mae. This was up just 0.09 percent from the prior week and down from 7.79 percent which was hit October 26.
“Given this stabilization in rates, potential homebuyers with affordability concerns have jumped off the fence back into the market,” the report continued. “Despite persistent inventory challenges, we anticipate a busier spring home buying season than 2023 with home prices continuing to increase at a steady pace.”
Real Estate •
January 17, 2024
Outdoor Living Spaces Now More Important
Beautiful wooden terrace with garden furniture surrounded by greenery on a warm, summer day
Here’s a tip to enhance the value of your home as well as your enjoyment of living there. Functional exterior living spaces are growing more important and have become a valuable add-on to any home, according to the National Association of Realtors. Who doesn’t desire an at-home retreat filled with lovely gardens, lounging areas, a full kitchen and bar, outdoor TV and sustainable furnishings? It’s all about finding solitude and peace to create that “vacation at home” space.
Real Estate •
January 11, 2024
Mortgage Rates Remain In The Mid-6% Range
Freddie Mac, which operates in the US secondary mortgage market buying loans from approved lenders, reported today that mortgage rates have remained in the mid-six percent range for the past three weeks. This has “marginally increased” home buyer demand, it said. This week it reported the average 30-year fixed rate mortgage was 6.66 percent, up 0.33 percent from a year ago.
However, the report goes on to say: “Even this slight uptick in demand, combined with inventory that remains tight, continues to cause prices to rise faster than incomes, meaning affordability remains a major headwind for buyers.” Potential home buyers should look closely at existing state and local resources, such as down payment assistance programs, which can help defray closing costs, according to Freddie Mac.
Real Estate •
December 15, 2023
Mortgage Rates Drop Below 7 Percent
For the first time since August the 30-year fixed rate mortgage has dropped below 7 percent. However, low inventory continues to keep home prices high. Considering that the Federal Reserve is expend to lower the federal funds target rate next year, there is likely to be a gradual thawing of the housing market next year, according to Freddie Mac’s report yesterday.
The 30-year fixed rate mortgage average now stands at 6.95 percent while a month ago it was 7.12 percent, according to Freddie Mac.
The Mortgage Bankers Association reported Wednesday that mortgage applications have increased for six weeks straight as mortgage rates continued to lower. However, purchase volume remained 18 percent lower than a year ago. Many homeowners who are locked in at much lower rates are deciding to remain in their homes rather than sell, which contributes to the low inventory. According to Realtor.com, some two-thirds of the outstanding mortgages have rates below 4 percent.
Real Estate •
November 20, 2023
Happy Thanksgiving
Thank you to my wonderful clients for allowing me to help guide you home! Have a Happy Thanksgiving full of gratitude and love! 🏡💙
Real Estate •
October 5, 2023
Mortgage Rates Now Highest In A Generation
Mortgage rates continued to move higher while mortgage applications dropped to the lowest level since 1996, according to the Mortgage Bankers Association (MBA). Meanwhile Freddie Mac reported today the average 30-year fixed rate mortgage reached 7.49 percent, up from 6.09 percent a year ago. This was just a fraction below the MBA’s reported average of 78.53 percent, the highest level since 2000.
Despite the rise in rates, home prices have barely moved, largely due to a lack of homes for sale. Many potential sellers who locked in a low mortgage rate before the pandemic began are now hesitant to sell.
In its report, Freddie Mac notes: “Mortgage rates maintained their upward trajectory as the 10-year Treasury yield, a key benchmark, climbed. Several factors, including shifts in inflation, the job market and uncertainty around the Federal Reserve’s next move, are contributing to the highest mortgage rates in a generation. Unsurprisingly, this is pulling back buyer demand.”
Real Estate • Uncategorized •
October 4, 2023
How To Take Advantage Of The Fall Market
Can you believe it’s already October? 🍁🍂🎃 Let’s get together for a Pumpkin Spice Latte and discuss the Autumn market! Give me a call today! 📲
#FallHomeSearch #AutumnRealEstate #FallIntoHomeOwnership #CBSocial #lamorindarealestate #eastbayrealestate #lafayettecalifornia #orinda #walnutcreek
Real Estate •
September 22, 2023
Mortgage Rates Remain Flat
Mortgage rates continued to stay above seven percent this week as the Federal Reserve paused its interest rate hikes, according to Freddie Mac. With these high rates, housing demand is cooling off and homebuilders are feeling the effect, Fannie Mae said in its report yesterday. For the first time in serval months builder sentiment has declined and construction levels have dropped to a three-ear low. This, too, is likely to have an impact on the housing supply, the report noted
Presently, the average 30-year fixed rate mortgage stands at 7.19 percent, said Freddie Mac. A year ago it was 6.64 percent. Meanwhile, the 15-year fixed rate mortgage now is 6.54 percent, up from 5.93 percent a year ago.
Real Estate •
September 20, 2023
Tips To Help Create A Secure Home
Your home is a place you want to feel safe and secure from the outside world. Implementing simple security practices helps create a secure environment for your loved ones. #safetyfirst #homesecuritytips #cbsocial
