Tag Archive for: markets

Iran Tensions Push Rates Up Again; Dead Boomers – Good or Bad? Appraisal Waivers Saving Deals!

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Mortgage rates bottomed out at 5.99% on February 27th – the day before the Iran war started. Rates peaked one month later on March 27th – hitting 6.625%. Rates then fell steadily into April but have since been rising in response to escalating tensions and rising oil prices. I share all this because rates shot up again today in response to Trump’s latest action, called “Project Higher Interest Rates.” OK – actually it is called “Project Freedom.” It is an effort by the U.S. to restore freedom of navigation through the Strait of Hormuz and free stranded commercial vessels. This action escalated tensions and pushed oil prices (the main cause of higher rates) higher again. Today’s average mortgage rate is 6.52%. We’re still below the peak we saw in March, but we’re getting close.Read More

“Dear Buyer, The Market’s Not Soft; Please Don’t Lowball;” Cockroaches Kill Deal; 10 Day Closes Reign Supreme!

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Many of the markets we serve are, in fact, very cool, with inventory builds and price discounts (mostly across the Sunbelt). It’s fascinating to see how some very hot markets are only a few miles away from some very cool markets, too – in all states. The crash bros are constantly posting about the soft markets alone while ignoring the many very hot markets. Homebuyers are seeing this onslaught of housing doomerism, firmly believing they can find “deals” in every market, and insisting on either lowballing or underbidding in the face of fierce competition. I bring this up because we are seeing our buyers get outbid over and over. This is one more reason we should all teach buyers to ignore the crash bros.Read More

The Wisdom Of Crowds Is Far More Accurate Than Experts

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I watched the Israel/Iran war heat up all weekend, and I will readily admit that I was very worried about it escalating into a much more severe regional conflict. The […]Read More

Why Timing The Market Never Works: There Are Way Too Many Variables!

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We quoted a refinance to a borrower last fall with a rate in the 5% range. It was no cost, and it would have saved her thousands of dollars – but she insisted on waiting for rates to fall further because “the Fed is cutting rates.”Read More

Where Are Americans Moving & Why?

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The fact remains that people are moving in droves right now, and what matters is why and where (so investors and all buyers can make better informed decisions). Fortunately, Forbes.com recently published this article titled “Here’s Where Americans Are Moving (And Why)”Read More