Fed Meets, Expects No Interest Rate Hikes Through 2023
Faced with a strengthening economy, some observers expected the Fed to tighten the timeframe for interest rate hikes, but it stuck to 2023 after a meeting this week.
Mortgage Rates Inch Up and Hit 9-Month High: 3.09%
Rates broke the 3% barrier two weeks ago and have increased each week since, leading Freddie Mac’s chief economist to call buyer competition “a challenging reality.”
HUD Report Finds Spike in Homelessness During 2020
Even with eviction and foreclosure bans in place, HUD’s 2020 report found an overall 2.2% increase in homelessness last year and no improvement for homeless veterans.
Senator Outlines Goals for Mortgage Reform; NAR Agrees
Government-owned Fannie Mae and Freddie Mac must be reformed, yet if done badly, it could threaten the U.S. housing market and possibly make 30-year mortgages obsolete. But a Senate Banking Committee member issued “guiding principles” that have been backed by NAR.
The Quiet Real Estate Revolution? 3D Printed Homes
About 40% of a new-home build can be completed in eight days or less with a (really big) 3D printer; it sells for a least 20% less than a comparable non-3D home.
Buyers Rush to Lock in Low Interest Rates
The uptick in interest rates increased buyer activism heading into the spring buying season, which probably won’t be a “season” since the market never slowed in 2020.
See the Future, Hit a Home Run in Your Business
Florida Realtors economist: Knock it out of the park through 2025. What can you do now to prepare for the buyers and sellers entering the market? Utilize digital tools, understand smart home features and attract remote workers to your market.
NAR Study: Millennials Dominate but Gen Z Moving In
The new 2021 Generational Trends Report found that one in five millennial buyers (20%) and boomers (22%) are unmarried. And Gen Z is now 2% of all buyers and growing.
Feb. Housing Starts Fall More than Expected – 10.3%
Starts hit a 14-year high in Dec. before seeing an unexpected drop (5.1%) in Jan. and then 10.3% in Feb. Building permits – a sign of future activity – also declined.
Job Postings Make Work-from-Home Trend Seem Permanent
Any work change has major implications for commercial (where to invest) and residential (where to live) real estate, and new job ads suggest it’s a permanent trend.