This year mortgage rates reached an all time low for home buyers. After the 2016 election rates jumped from 3.74% to 4.24%. Many economists agree that mortgage rates will hover around 3%. The Federal Reserve has been keeping the Federal Funds Rate near zero which indirectly helps mortgage rates stay low. Additionally, there is stillContinue reading “Will Mortgage Rates Rise After Election?”
Almost 50% of builders reported supply disruptions in a recent national survey. Shortages were reported in: lumber, appliances, flooring and hardware. Some builders are reducing home buyer product choices to more readily available inventory. Additionally, some builders are using escalation clauses. If the home building material costs increases over a certain amount, the home buyerContinue reading “Builders Are Dealing With Supply Shortages”
20 and 30-year-old home buyers are helping to keep the home sale market strong. More than half of new mortgages were made to this demographic according to Realtor.com. Millennials have now surpassed Baby Boomers as the largest adult group in America.