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Federalreserve | Beach Road Realty Inc Blog

Monday, January 29, 2024   /   by Richard Eimers

Inflation Slowed Further, 'Soft Landing' Closer

By Christopher Rugaber

A soft landing – inflation falling back to the Fed’s target without a recession – could make it easier for the Fed to cut its key interest rates.

WASHINGTON — The Federal Reserve’s preferred inflation gauge cooled further last month even as the economy kept growing briskly, a trend sure to be welcomed at the White House as President Joe Biden seeks re-election in a race that could pivot on his economic stewardship.
Friday’s government report showed that prices rose just 0.2% from November to December, a pace consistent with pre-pandemic levels and barely above the Fed's 2% annual target. Measured from a year earlier, prices increased 2.6%.
Excluding volatile food and energy costs, so-called “core” prices rose just 0.2% from month to month and 2.9% from a year earlier — the smallest such rise since March 2021. Economists consider core prices a better gauge of the likely path of inflation.
The latest ...

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Monday, January 29, 2024   /   by Richard Eimers

Experts Talk Florida's Post-Pandemic Normal

Florida is outperforming U.S. in job and income growth and population migration, two economic experts said.

TAMPA, Fla. – Even as the U.S. economy posted an unexpected strong performance last year, Regions Bank Chief Economist Richard Moody and Chief Investment Officer Alan McKnight expect 2024 economic growth to be slower.
Moody says that the labor and supply side expansion of the 2023 economy raises concerns about how much capacity remains for growth in 2024.
Florida's markets are expected to find a new normal in terms of growth after three years of explosive expansion, which means the outlook is still positive. Moody added that Florida's large metro areas continue to be “some of the hottest markets in the country,” but “once the dust settles, there's still outperformance there.”
Florida is among the states with favorable demographic profiles, including strong business migration, lower costs of living, lower labor costs, strong population inflow ...

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Thursday, January 25, 2024   /   by Richard Eimers

Real Estate Market Outlook 2024: A Guide for Home Buyers and Sellers

In 2023, the real estate market faced challenges, witnessing a decline in home sales due to higher borrowing costs and soaring home prices, marking the steepest slowdown since the 2008 recession. Aspiring homebuyers found themselves priced out of the market, while hesitant sellers held back, resulting in a notable drop in listings.
Relief in Sight
There's optimism on the horizon as the Federal Reserve, in December, signaled an end to interest rate hikes and hinted at a potential 0.75% rate cut in the coming year. Although mortgages don't mirror the federal funds rate directly, they typically follow the same trend, hinting at the possibility of more affordable home loans.
Home Prices Stability
Despite high mortgage rates, U.S. property values ended 2023 higher, with some regions experiencing appreciation while others saw declines. Analysts attribute this to a nationwide housing shortage, emphasizing the delicate balance between low demand and low supply. Forecasts for 2024 vary, but ...

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Monday, September 11, 2023   /   by Richard Eimers

Average Long-Term U.S. Mortgage Rate Fell to 7.12%

However, the 30-year fixed-rate mortgage remains near the 22-year high it hit three weeks ago. Last week, it was 7.18%.

LOS ANGELES (AP) – The average long-term U.S. mortgage rate fell again this week but remains near the 22-year high it hit three weeks ago, offering little relief for house hunters facing persistently high prices and a near-historic low number of homes for sale.
Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year home loan fell to 7.12% from 7.18% last week. A year ago, the rate averaged 5.89%.
The average rate on 15-year fixed-rate mortgages, popular with those refinancing their homes, fell to 6.52% from 6.55% last week. A year ago, it averaged 5.16%, Freddie Mac said.
High rates can add hundreds of dollars a month in costs for borrowers, limiting how much they can afford in a market already unaffordable to many Americans. They also discourage homeowners who locked in low rates two years a ...

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Beach Road Realty Inc
Richard Eimers
17 Roundwood Drive
Inlet Beach, FL
850-259-1798

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