Mortgage rates are finally heading in the right direction – and buyers are starting to jump back in.According to the data, buyer demand picked up considerably once mortgage rates hit a new low for 2025. The Mortgage Bankers Association (MBA) reports that applications for home loans were up 23% compared to the first week of September last year.If you’ve been waiting to sell, or your listing recently expired because the market was slower than you hoped it would be, now’s the time to reconsider your move. Buyer demand … [Read more...]
What a Fed Rate Cut Could Mean for Mortgage Rates
The Federal Reserve (the Fed) meets this week, and expectations are high that they’ll cut the Federal Funds Rate. But does that mean mortgage rates will drop? Let’s clear up the confusion.The Fed Doesn’t Directly Set Mortgage RatesRight now, all eyes are on the Fed. Most economists expect they'll cut the Federal Funds Rate at their mid-September meeting to try to head off a potential recession.According to the CME FedWatch Tool, markets are already betting on it. There’s virtually a 100% chance of a September cut. … [Read more...]
Patience Won’t Sell Your House. Pricing Will.
Waiting for the perfect buyer to fall in love with your house? In today’s market, that’s usually not what’s holding things up. And here’s why.Let’s be real. Homes are taking a week longer to sell than they did a year ago. According to Realtor.com:“Homes are also taking longer to sell. The typical home spent 60 days on the market in August, seven days longer than last year and now above pre-pandemic norms for the second consecutive month. This was the 17th straight month of year-over-year increases in time on … [Read more...]
Mortgage Rates Just Saw Their Biggest Drop in a Year
You’ve been waiting for what feels like forever for mortgage rates to finally budge. And last week, they did – in a big way.On Friday, September 5th, the average 30-year fixed mortgage rate fell to the lowest level since October 2024. It was the biggest one-day decline in over a year.What Sparked the Drop?According to Mortgage News Daily, this was a reaction to the August jobs report, which came out weaker-than-expected for a second month in a row. That sent signals across the financial markets, and then mortgage … [Read more...]
Why 50% of Homes Are Selling for Under Asking and How To Avoid It
If your selling strategy still assumes you’ll get multiple offers over asking, it’s officially time for a reset. That frenzied seller’s market is behind us. And here are the numbers to prove it. From Frenzy to “Normal”Right now, about 50% of homes on the market are selling for less than their asking price, according to the latest data from Cotality.But that isn’t necessarily bad news, even if it feels like it. Here’s why. The wild run-up over the last few years was never going to be sustainable. The housing market … [Read more...]
Builder Incentives Reach 5-Year High
Even with more homes on the market right now, some buyers are still having a tough time finding the right one at the right price. Maybe the layout feels off. Maybe it still needs some updating. Or maybe it’s just more of the same.That’s why more buyers are turning to new construction – and finding some of the best deals available today.Why? Today, many builders have more homes that are finished and sitting on the market than normal. And that means they’re motivated to sell. They’re running a business, and they … [Read more...]
What Mortgage Delinquencies Tell Us About the Future of Foreclosures
You may be seeing headlines about how foreclosures are rising. And if that makes you nervous that we’re headed for another crash, here’s what you should know. According to ATTOM, during the housing crash, over nine million people went through some sort of distressed sale (2007-2011). Last year, there were just over 300,000.So, even with the increase lately, we’re talking about numbers that are dramatically lower. But what does the future hold? Is a wave coming? The short answer is, no.Here’s why. Experts in the … [Read more...]
Thinking About Renting Your House Instead of Selling? Read This First.
If your house is on the market but you haven’t gotten any offers you’re comfortable with, you may be wondering: what do I do if it doesn’t sell? And for a growing number of homeowners, that’s turning into a new dilemma: should I just rent it instead?There’s a term for this in the industry, and it’s called an accidental landlord. Here’s how Yahoo Finance defines it:“These ‘accidental landlords’ are homeowners who tried to sell but couldn’t fetch the price they wanted — and instead have decided to rent out their … [Read more...]
What Everyone’s Getting Wrong About the Rise in New Home Inventory
You may have seen talk online that new home inventory is at its highest level since the crash. And if you lived through the crash back in 2008, seeing new construction is up again may feel a little scary.But here’s what you need to remember: a lot of what you see online is designed to get clicks. So, you may not be getting the full story. A closer look at the data and a little expert insight can change your perspective completely.Why This Isn’t Like 2008While it’s true the number of new homes on the market hit its … [Read more...]
History Shows the Housing Market Always Recovers
Now that the market is slowing down, homeowners who haven’t sold at the price they were hoping for are increasingly pulling their homes off the market. According to the latest data from Realtor.com, the number of homeowners taking their homes off the market is up 38% since the start of this year and 48% since the same time last June. For every 100 new listings in June, about 21 homes were taken off the market.And if you’ve made that same choice, you’re probably frustrated things didn’t go the way you wanted. It’s … [Read more...]
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