If you need assistance, please call 850-259-1798

Market Analysis | Beach Road Realty Blog

Monday, January 15, 2024   /   by Richard Eimers

ANTICIPATED MORTGAGE RATE DECLINE IN 2024: A POSITIVE OUTLOOK

In a promising development for 2024, the burden of high mortgage rates impacting the real estate market may be on the verge of easing.

During its December meeting, the Federal Reserve hinted at a positive shift, signaling an expected cut in its overnight rate in 2024. Analysts are optimistic, predicting a synchronized decline in mortgage rates [^5^].

Freddie Mac’s Chief Economist, Sam Khater, foresees a gradual improvement in the housing market in the coming year. With inflation decelerating and expectations of the Federal Reserve lowering the federal funds target rate, a thawing of the housing market is likely [^9^].

Already, the average 30-year fixed mortgage rate has seen a decrease from its October peak of around 8%. Forecasts from Fannie Mae, the Mortgage Bankers Association, and Realtor.com align, projecting a trend towards lower rates in 2024, potentially ending the year closer to 6% [^7^].

However, it’s not an unmitigated positive; the era of 3% mortgages ...

  beach road realty, richard eimers, eimers group, real estate trends, mortgage rates, housing market outlook, federal reserve decisions, economic forecast, home buying tips, property market analysis, market shift updates, real estate news, financial outlook, homeownership insights, interest rate trends

Saturday, January 6, 2024   /   by Richard Eimers

Florida Consumer Sentiment Mixed In Dec.

By Amy Connolly
Although UF’s monthly consumer confidence survey ended the year on a high note, the survey marked its third lowest level since it began in 1985.

GAINESVILLE, Fla. – Consumer sentiment in Florida inched up for a third consecutive month in December to 69.5, gaining 1.2 points from a revised figure of 68.3 in November. Meanwhile, national consumer sentiment surged by 8.4 points, the University of Florida found in its monthly consumer confidence survey.
The annual average consumer confidence ended 2023 at 67.9 points for the year, marking the third-lowest level on record since the series began tracking consumer confidence in 1985, UF researchers said. The lowest on record was 64.3 in 2022 and the second lowest was 65.6 points in 2008, said Hector H. Sandoval, director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research.
The survey looks at five components that make up the index. December’s survey showed an increase ...

  beach road realty, richard eimers, eimers group, florida, consumer sentiment, economic outlook, uf research, market analysis, florida realtors, economic indicators

Saturday, December 16, 2023   /   by Richard Eimers

Average Long-Term U.S. Mortgage Rate Dips Below 7%

By Alex Veiga
The mortgage rate now stands at its lowest level since early August, signaling good news for prospective homebuyers.

LOS ANGELES (AP) — The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
The average rate on a 30-year mortgage dropped to 6.95% from 7.03% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.31%.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loan, edged up this week, lifting the average rate to 6.38% from 6.29% last week. A year ago, it averaged 5.54%, Freddie Mac said.
The latest drop in rates is the seventh in as many weeks. Mortgage rates have been easing since late October, when they reached 7.79%, the highest level since late 2000.
The pullback ha ...

  beach road realty, richard eimers, eimers group, housing market trends, housing market analysis, home loan rates, homebuyer tips, homeownership insights, interest rate changes, mortgage rate impact, mortgage rates 2023, property market update, real estate market news

Tuesday, August 29, 2023   /   by Richard Eimers

Housing Inventory Is at Its Highest Point All Year

Mortgage rates kept climbing in the last week. Buyers in this real estate market notice these affordability changes, and so we can see in the data fewer home purchase offers, slightly climbing unsold inventory, and slightly more price reductions for the homes that are on the market.
Rising rates makes more inventory. So how much inventory will we add this fall? As of now, these slowing signals are subtle. If mortgage rates jump to say 8%, that’s when we’d see big changes in inventory and home prices.
Every week Altos Research tracks every home for sale in the country. We analyze all the pricing, supply and demand, and all the changes in that data and we make it available to you before you see it in the traditional channels. If you aren’t using Altos market reports with your clients, your buyers and sellers, now might be the time to step up. Go to altosresearch.com and book a free consult with our team. Because everyone is worried about what’s happening right n ...

  altos research, buyers and sellers, home buying, home price reductions, home prices, home sales, home selling, housing demand, housing inventory, housing market analysis, housing market forecast, inventory trends, market analysis, market insights, market signals, mortgage rates, national housing market, property data, property market, real estate data, real estate insights, real estate market, real estate news, real estate research, real estate statistics, real estate trends, richard eimers, beach road realty, eimers group

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

The properties displayed may not be all of the properties in the MLS's database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Properties listed by Brokers other than this Broker are marked with either the listing Broker's logo or name or the MLS name or a logo provided by the MLS. Detailed information about such properties includes the name of the listing Brokers. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. The Florida Association of REALTORS® and its cooperating MLSs do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Data last updated April 13, 2024

IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS. Vendor Member Number: 28179

This site powered by CINC: www.cincpro.com