The Senate recently passed a budget resolution which will greenlight the $1.9 Trillion Dollar relief package. This means that more Treasuries will need to be issued to pay for this package. The additional supply of Treasuries in the marketplace can cause rates to move a little higher. If you have been thinking about refinancing or […]
Existing Home Sales Show Housing Will Remain Hot
The latest report on Existing Home Sales showed that the real estate market continues to be red-hot, and all signs are pointing toward it to remain that way. Inventory levels are at an all-time low, with less than a 2-month supply of homes on the market. And while prices have been moving up, purchasing a […]
Recent Move In Rates
Rates have risen a little recently, due to the market’s concern that there will be increased spending, debt, and inflation. The 10-Year Treasury yield is now at its highest level in a year. How can this happen when the Fed Funds Rate remains at zero? Let’s remember that the Fed Funds Rate and Mortgage […]
The Fed’s Confusing Message
You may have recently heard that the Fed announced that they think the Fed Funds Rate will remain at zero through at least 2023. First and foremost, the Fed Funds Rate and Mortgage Rates are two totally different instruments. The Fed Funds Rate can change from one day to another, but a Mortgage Rate may […]
Should I bid over asking price for a home?
With housing inventory extremely tight, many homes for sale will have multiple offers. You may wonder if you should put an offer on the home that is above asking price in order to win the contract. The forecasted appreciation for Middlesex County, for example, is expected to be 5.7% over the next year and 27.2% […]
Smart Reasons to Refinance
Yes, rates are lower, but should you refinance? I’ll tell you what, there are lots of reasons to refinance aside from just rate. You know, homes have appreciated quite a bit, so if you’re paying mortgage insurance, let’s get rid of that and save you that money. And because we have seen strong appreciation over […]
Cost of Waiting to Buy a Home
If you’re shopping for a home today, you know it’s kind of hard work. You might not find something right away and it’s easy to get fatigued. Sometimes buyers get discouraged and say, “Let me take off a few months, maybe I’ll come back 6 months later.” Here’s the thing: while you can take some […]
Smart Refinance Tips During The Pandemic
You may be considering taking advantage of these historic low interest rates by refinancing your mortgage to lower your monthly payment, consolidate debt, save years of payments, or pull cash out for a cushion. The Mortgage Industry is doing an excellent job of processing transactions under shelter in place. But it’s more important than ever […]
Optimism in Housing
Prior to the pandemic, the housing market was booming. Prices were increasing, while inventory was at its lowest level in 40-years. Inventory levels should remain tight because new construction has slowed due to Covid-19. Meanwhile, demand for homeownership has been pent up and those living in apartments are looking for more space and distance. And […]
Finding Opportunity During These Challenging Times
Covid-19 has caused a virtual economic shutdown to stop its spread and preserve health. We will defeat this virus and our economy will begin to recover. The economic slowdown will likely cause home values to take a modest dip over the short term. But this should be viewed as an opportunity. Just prior to the […]