Fannie Mae predicts that mortgage rates will fall below 6% in 2024
“According to Fannie Mae’s chief economist, 2024 is expected to be a better year for homebuyer affordability and the mortgage industry than 2023.” The analysts at Fannie Mae predict that the housing market will gradually return to a more balanced state by 2024, and that mortgage rates will end the year below 6%. According to […]
Mortgage rates decrease for the 9th straight week
Freddie Mac reports that mortgage rates have fallen to their lowest level since May. It also stated that the economy is steady with strong growth. The average long-term mortgage rate in the US dropped to its lowest point since May, marking the ninth consecutive week of decline. The average 30-year mortgage rate fell to 6.61% […]
Mortgage rates have hit 7.03%, resulting in a sixth consecutive drop
Freddie Mac’s chief economist says the 30-year fixed-rate loan needs to drop more, but the drop in rates to 7.02% is a welcome relief from last week’s average of 7.22%. Home loan financing costs have decreased as the average long-term US mortgage rate hit a four-month low, according to reports from Los Angeles. The average […]
US Households Require an Annual Income of $115k for a Median-priced Home
In Florida, median income varies across nine metros, ranging from $88.7K in Lakeland (up 13.4% YoY) to $143K in Miami (up 33.4% YoY). According to a report by Redfin, the median-priced U.S. home now requires an average household income of $114,627 to afford it. This is a 15% increase of $15,285 compared to the previous […]
Florida Surpasses New York in Average Home Values
According to a study, Florida has surpassed New York to become the second state with the highest housing values, following California. South Florida and Tampa were ranked in the “Top 20 Most Valuable Metros” list. The U.S. housing market grew by over $2.6 trillion in the past year due to rising home prices and new […]
The Median Prices in Florida’s Housing Market Increased in August.
Median prices for single-family homes rose 2% to $415K, while condo median prices increased 6.2% to $324K YoY. According to Chief Economist O’Connor, mortgage interest rates continue to be the dominant factor. Florida’s housing market reflected familiar trends in August: statewide median sales prices rose YoY while sales slowed, according to the latest data from […]
Wealthy young professionals are relocating from New York and California.
An analysis of 2021 tax data shows even high-earning millennials are increasingly attracted to low-cost locales. Where are they going? Florida tops the list. CONYERS, Ga. – They’re young, they’ve got money, and they’re on the move. A recent analysis by SmartAsset found that New York and California lost the most residents aged 26 to […]
$200,000 High-earning households are moving to these 10 states, with 5 in the South.
It’s worth noting that a household income of $200,000 is higher than what the majority of people in the United States earn. In fact, according to Census Bureau data, only 12% of households in the U.S. have an annual income of $200,000 or more. For most Americans, $200,000 can provide a comfortable financial cushion. However, […]
According to the Today Show, Sarasota is ranked as the second most booming city.
According to the popular daytime television show “The Today Show,” Sarasota has been ranked as the second-best place to live in the United States. As per the ranking released on July 10 by Frances Katzen, a real estate broker with Douglas Elliman, Sarasota is one of the top five “booming” cities in the United States […]
Are you considering overpricing your home? It’s like playing Russian roulette.
If you’re a homeowner, you’ve likely taken great care of your home over the years, both for your enjoyment and to boost its resale value. Now that you’re preparing to sell your home, it’s understandable to want to be fairly compensated for your hard work. However, avoiding letting sentimental attachment to the property influence your […]
