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

Market Insights | Beach Road Realty Blog

Friday, December 22, 2023   /   by Richard Eimers

Embracing Positive Momentum: Home Loan Costs Reach Six-Month Low

In a promising turn of events, home loan financing costs have once again decreased, driving the average long-term U.S. mortgage rate to a six-month low.

1. Encouraging Rate Drops:
The average 30-year mortgage rate has seen a notable decline, dropping from 6.95% to a current 6.67%, marking the eighth consecutive week of decreases and returning to levels seen in late June.
 
2. Welcoming Trends:

Chief Economist Sam Khater of Freddie Mac highlights the positive trend, emphasizing that the 30-year fixed-rate mortgage remains below 7% for the second consecutive week, breaking a streak of 17 weeks above 7%.
 
3. Beneficial Shift for Homeowners:

Borrowing costs for 15-year fixed-rate mortgages, popular among homeowners refinancing, have also decreased, with the average rate now at 5.95%, fostering an optimistic outlook for potential homebuyers.
 
4. Market Recovery Anticipated:

Mortgage rates have been on a easing trajectory since late October ...

  beach road realty, richard eimers, eimers group, encouraging rate drops, welcoming trends, beneficial shift for homeowners, market recovery anticipated, upbeat forecast, housing market optimism, home loan rates, mortgage rate decline, real estate outlook, positive shift, homebuying tips, mortgage news, housing market update, homeownership, financial trends, property market insights

Friday, December 22, 2023   /   by Richard Eimers

Average Long-Term U.S. Mortgage Rate Falls to 6.67%

By Alex Veiga

Some economists say home sales will increase in 2024 as mortgage rates ease.

LOS ANGELES (AP) — Home loan financing costs eased again this week, pulling the average long-term U.S. mortgage rate down to a six-month low.
The average rate on a 30-year mortgage dropped to 6.67% from 6.95% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.27%.
The latest drop in rates is the eighth in as many weeks. The average rate is now back to where it was in late June.
“The 30-year fixed-rate mortgage remained below 7% for the second week in a row, a welcome downward trend after 17 consecutive weeks above 7%,” said Sam Khater, Freddie Mac’s chief economist.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loan, also declined this week, with the average rate falling to 5.95% from 6.38% last week. A year ago, it averaged 5.69%, Freddie Mac said.
Mortgage rates have been eas ...

  beach road realty, richard eimers, eimers group, mortgage rates, housing market, home sales, economic trends, real estate forecast, property market insights, mortgage rate trends, homebuying tips

Wednesday, October 4, 2023   /   by Richard Eimers

Study: It’s the ‘Best Week of the Year’ to Buy a Home

Your buyers likely will see the most housing options, least competition and lowest prices of the year this week, according to new realtor.com® research.

Home buyers may want to be in the market this week: It’s the time of year with the most favorable conditions for purchasing a property, a new study shows.
Historically, the week of Oct. 1–7 brings the strongest balance of market conditions, with greater home listings, less buyer competition and lower prices compared to other times of the year, according to realtor.com®’s “Best Time to Buy Report(link is external).” That’s welcome news for buyers, who have been facing severe inventory and affordability constraints.
However, there remain plenty of market headwinds, such as mortgage rates at a 23-year high. The monthly payment to finance a median-priced home is still more than 20% higher than last year, even with home prices moderating in some markets, says realtor.com® Chief Economist ...

  beach road realty, eimers group, richard eimers, home prices, mortgage rates, property market, housing market, real estate, real estate news, real estate trends, inventory trends, market insights, real estate research, affordability, buyers advantage, buying a home, fall real estate, home buyers, home competition, home price reductions., home savings, inventory, market conditions, market headwinds, national association of realtors, price reductions, property options, realtor.com

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 14, 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