Housing Market Archives - Brian Hatkoff

Win When You Sell And Move Home sellers often feel like there may only be a small window of opportunity to sell their home. Winter is typically regarded as a “waiting period,” until buyers start being active again. But winter may be a great time to sell and move.

Your House Will Probably Have Less Competition

More and more sellers are realizing that winter can be a favorable time to put a house on the market. Still, when you decide to sell during the winter months, you’ll have much less competition due to lower inventory. In turn, this will make your house stand out and capture more attention from interested buyers.

Multiple Offers Are Likely

For the same reason that your home will have less competition, it’s likely that you’ll receive multiple offers when you list your house in the winter. You could even have a situation where there’s competitive bidding on your house! This is due to low inventory, as well as buyers’ eagerness to get settled into their new home before the first daffodils have broken ground in the spring.

Houses Sell Faster In Winter

Statistics show that houses are on the market for shorter periods of time in winter than in other seasons. The average tends to be just a little over two weeks. Again, this is likely due to buyers wanting to hurry and move into their new home so they can be ready for the first beautiful spring days.

Now Is A Great Time To Sell

Home values are at record highs right now. At the same time, mortgage rates are still at historically low rates. Therefore, this perfect storm of opportunity is ideal for both sellers and buyers. You can likely get a great sale price on your home, and your buyers will be getting terrific low rates on borrowed money to buy. It’s a win-win situation that you should take advantage of!

Don’t wait any longer to list your home for sale. If you’ve been planning to move, now’s the time to win when you sell and move. To make the transaction easy, contact a licensed real estate agent in your area to get started.

What's Ahead For Mortgage Rates This Week - October 18, 2021

Last week’s economic reporting included readings on inflation, core inflation, and minutes of the Fed’s Federal Open Market Committee meeting held on September 22 and 23. Weekly readings on mortgage rates and jobless claims were also published.

September’s Consumer Price Index rose by 0.10 percent to 0.40 percent. The Core Consumer Price Index for September, which excludes volatile food and fuel sectors, rose by 0.10 percent to 0.20 percent and fell short of the expected reading of 0.30 percent growth.

Feds’ FOMC Meeting Minutes: Policymakers Consider Tapering Securities Purchases

Minutes of the Federal Open Market Committee meeting held September 21 and 22 indicated that policymakers discussed when to taper the Fed’s purchase of U.S. Treasuries and Mortgage-Backed Securities. Opinions were mixed as some policymakers recommended faster tapering of asset purchases and others were concerned about the potentially negative impact on financial markets if the Fed reduced its asset purchases too quickly. No specific dates for tapering asset purchases were set during the current FOMC meeting, but analysts expected the Committee to announce its plan for tapering asset purchases at its next meeting.

FOMC members also discussed inflation and were divided on their forecasts for inflation. While some members expected high inflationary growth in 2022, other FOMC members said that Covid-related bottlenecks in supply chains caused higher inflation in the near term.

Mortgage Rates Rise as Jobless Claims Fall

Freddie Mac reported higher average mortgage rates last week as rates for 30-year fixed-rate mortgages rose by six basis points to 3.05 percent. The average rate for 15-year fixed-rate mortgages rose by seven basis points to 2.30 percent; rates for 5/1 adjustable-rate mortgage rose averaged 2.55 percent and were three basis points higher Discount points averaged 0.70 percent for fixed-rate mortgages and 0.20 percent for 5/1 adjustable rate mortgages.

Initial jobless claims fell to 293,000 new claims filed as compared to the previous week’s reading of 329,000 first-time claims filed. Continuing jobless claims also fell with 2.59 million ongoing claims filed; 2.73 million ongoing claims were filed in the previous week.

What’s Ahead

This week’s scheduled economic reporting includes readings from the National Association of Home Builders on housing market conditions. Reporting on sales of previously-owned homes, housing starts, and building permits issued are expected; weekly readings on mortgage rates and jobless claims will also be released.

Win When You Sell And Move

What’s Ahead For Mortgage Rates This Week – October 18, 2021

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