Second-Home Sales Hot in Q1 and Q4 2021
Second-home mortgage-rate locks hit 5.7% early last year before dropping, then bouncing back to 5%. The top market? Fla.’s Sumter County with a 65% increase.
Little Change in Weekly Mortgage Rates: 3.55%
The 30-year, fixed-rate mortgage changed little from last week’s 3.56%. While still historically low, any rise in rates may dampen demand later this year.
NAR: Dec. Pending Sales Slide 3.8%
“Diminished housing supply offered consumers very few options,” says NAR’s chief economist. He predicts a 2.8% sales decline by the end of 2022.
Use a Realtor? 80% of Millennials Say Yes
Survey: 72% of consumers have used a Realtor, but the level of trust varies by generation: 80% of millennials plan to use one but only 71% of Gen Zs say the same.
Interest Rate Hikes Don’t Always Affect Mortgages
Rates on short-term credit, such as credit cards, will likely rise at the same pace as interest rates. But the link to long-term rates, such as mortgages, isn’t as clear.
Fewer Buyers Waive Contingencies
Rising home prices create greater risk for buyers. As a result, they’re less likely to forego inspections, appraisals and other contract contingencies.
Be the Go-To Local Agent on Instagram
Instagram provides a strong foundation for marketing, but only if prospective customers quickly understand who you are and what you can do for them.
Dec. New Home Sales Up 11.9% Month-to-Month
Buyers worried about rising interest rates and home prices pushed new-home sales to a 10-month high in Dec.
Junk Fees in Mortgages? CFPB Wants to Know
Saying it wants to save consumers billions, the consumer bureau issued a request for Americans’ junk-fee stories – iffy charges added to any financial product.
Spring Buying Season May Have Arrived Early
Home prices continue to rise and mortgage rates appear ready to follow. Some skittish buyers are jumping into the market now, fearful what could happen if they wait.