What To Expect from Mortgage Rates and Home Prices in 2025

Written by Vero Beach Mortgage Syndicated User on October 22, 2024. Posted in Affordability, For Buyers, For Sellers, Home Prices, Mortgage Rates, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Curious about where the housing market is headed in 2025? The good news is that experts are offering some promising forecasts, especially when it comes to two key factors that directly affect your decisions: mortgage rates and home prices.Whether you’re thinking of buying or selling, here’s a look at what the experts are saying and how it might impact your move.Mortgage Rates Are Forecast To Come Down One of the biggest factors likely affecting your plans is mortgage rates, and the forecast looks positive. After rising dramatically in recent years, experts project rates will ease...

The Benefits of Using Your Equity To Make a Bigger Down Payment

Written by Vero Beach Mortgage Syndicated User on October 17, 2024. Posted in Affordability, Equity, For Buyers, Home Prices, Mortgage Rates, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too.According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see graph below):Here’s why equity makes this possible. Over the past five years, home prices have increased significantly, which has...

The Top 3 Reasons Affordability Is Improving

Written by Vero Beach Mortgage Syndicated User on October 5, 2024. Posted in Affordability, Home Prices, Infographics, Mortgage Rates, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Some HighlightsAffordability is based on three key factors: mortgage rates, home prices, and wages.And today, it’s improving quickly as rates come down, prices level off, and wages climb. If you put your search on pause because it was too expensive to buy, connect with an agent to talk about why now may be the perfect time to jump back in.

Home Values Rise Even as Median Prices Fall

Written by Vero Beach Mortgage Syndicated User on October 4, 2024. Posted in For Buyers, For Sellers, Home Prices, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Recent headlines have been buzzing about the median asking price of homes dropping compared to last year, and that’s sparked plenty of confusion. And as a buyer or seller, it’s easy to assume that means prices are coming down. But here’s the catch: those numbers don’t tell the full story.Nationally, home values are actually rising, even if the median price is down a bit. Let’s break down what’s really happening so you can make sense of the market without getting caught up in the fear the headlines create.Homes on the Market Right Now Are SmallerThe biggest reason for the dip in median price...

Buying Beats Renting in 22 Major U.S. Cities

Written by Vero Beach Mortgage Syndicated User on October 1, 2024. Posted in Affordability, For Buyers, Home Prices, Inventory, Mortgage Rates, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

That’s right—according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are now lower than rent payments (see chart below):As mortgage rates have eased off their recent peak, home prices have moderated, and inventory has ticked up, affordability has improved significantly. When you add all of that up, it’s getting less expensive to buy a home than to rent one in many parts of the country.This is a big deal if you’ve been renting for a while now. But if you don’t see your city on this list, don’t sweat it. Things are moving fast, and your area...

Why Buying Now May Be Worth It in the Long Run

Written by Vero Beach Mortgage Syndicated User on September 26, 2024. Posted in Buying Tips, Equity, First-Time Buyers, For Buyers, Home Prices, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Should you buy a home now or should you wait? That’s a question a lot of people have these days. And while what’s right for you is going to depend on a lot of different factors, here’s something you’ll want to consider as you make your decision.As soon as you buy, you’ll start gaining equity. And you’d be surprised how quickly that can add up – even with more moderate home price appreciation.Each quarter, Fannie Mae releases the Home Price Expectations Survey. It asks over one hundred economists, real estate experts, and investment and market strategists what they forecast for home prices...

The Real Story Behind What’s Happening with Home Prices

Written by Vero Beach Mortgage Syndicated User on September 12, 2024. Posted in For Buyers, For Sellers, Home Prices, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

If you’re wondering what’s going on with home prices lately, you’re definitely not the only one. With so much information out there, it can be hard to figure out your next move.As a buyer, you might be worried about paying more than you should. And if you’re thinking of selling, you might be concerned about not getting the price you’re aiming for. So, here’s a quick breakdown to help clear things up and show you what’s really happening with prices—whether you’re thinking about buying or selling. Home Price Growth Is Slowing, but Prices Aren’t Falling...

The Surprising Amount of Home Equity You’ve Gained over the Years

Written by Vero Beach Mortgage Syndicated User on September 10, 2024. Posted in For Sellers, Home Prices, Inventory, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

There are a number of reasons you may be thinking about selling your house. And as you weigh your options, you may find you’re unsure how you’re going to deal with one thing about today’s housing market – and that’s affordability. If that’s your biggest concern, understanding how much equity you have in your house could help make your decision that much easier. Here are two key factors that have a big impact on your equity.How Long You’ve Been in Your HomeFirst up is homeowner tenure. That’s how long homeowners live in a house, on average, before selling or choosing to move. From 1985 to...

2025 Housing Market Forecasts: What To Expect

Written by Vero Beach Mortgage Syndicated User on August 29, 2024. Posted in For Buyers, For Sellers, Forecasts, Home Prices, Mortgage Rates, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Looking ahead to 2025, it’s important to know what experts are projecting for the housing market. And whether you’re thinking of buying or selling a home next year, having a clear picture of what they’re calling for can help you make the best possible decision for your homeownership plans.Here’s an early look at the most recent projections on mortgage rates, home sales, and prices for 2025.Mortgage Rates Are Projected To Come Down SlightlyMortgage rates play a significant role in the housing market. The forecasts for 2025 from Fannie Mae, the Mortgage Bankers Association...

What’s the Impact of Presidential Elections on the Housing Market?

Written by Vero Beach Mortgage Syndicated User on August 28, 2024. Posted in Economy, For Buyers, For Sellers, Home Prices, Inventory, Mortgage Rates, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

It’s no surprise that the upcoming Presidential election might have you speculating about what’s ahead. And those unanswered thoughts can quickly spiral, causing fear and uncertainty to swirl through your mind. So, if you’ve been considering buying or selling a home this year, you’re probably curious about what the election might mean for the housing market – and if it’s still a good time to make your move.Here’s the good news that may surprise you: typically, Presidential elections have only had a small, temporary impact on the housing market. But your questions are definitely worth...

Category: Home Prices