If you’re following mortgage rates because you know they impact your borrowing costs, you may be wondering what the future holds for them. Unfortunately, there’s no easy way to answer that question because mortgage rates are notoriously hard to forecast.
But, there’s one thing that’s historically a good indicator of what’ll happen with rates, and that’s the relationship between the 30-Year Mortgage Rate and the 10-Year Treasury Yield. Here’s a graph showing those two metrics since Freddie Mac started keeping mortgage rate records in 1972:
As the graph shows, historically, the average spread between the two over the last 50 years was 1.72 percentage points (also commonly referred to as 172 basis points). If you look
The National Association of Realtors (NAR) Is set to release its most recent existing home sales (EHS) report tomorrow. This monthly release provides information on the volume of sales and price trends for homes that have previously been owned. In the upcoming release, it’lllikely say home prices are down. This may seem a bit confusing, especially if you’ve been following along and reading the blogs saying home prices have hit bottom and have since rebounded.
So, why would this say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology of each one. NAR reports on the median home sales price, while some other sources use repeat sales prices. Here’s how those approaches differ.
Superlatives fall short of describing the exquisite contemporary design of this newer oceanfront residence. The home is light, open, and takes in the unsurpassed views of whitewater, the harbor entrance, Catalina Island, and sunsets. A seven-year project, it was executed with care and consideration and built with the quality, precision, and detail of a fine sailing yacht. The main level is oriented around a generously-scaled great room that opens through retractable walls of glass - creating an even larger indoor/outdoor space. On one side it opens to an oceanfront terrace and on the other, to a secluded outdoor living room complemented by a fireplace and serving kitchen + bar. Inside, the main kitchen is detailed with imported Boffi cabinetry. The
Want to know what experts say will happen in the rest of 2023? Home prices are already appreciating again in many areas. The average of the expert forecasts shows positive price growth.
Where mortgage rates go for the rest of the year will depend on inflation. Based on historical trends, rates are likely to ease as inflation continues to cool.
Even though low inventory continues to be a challenge, experts project 5 million homes will still sell this year. That pace should pick up if rates come down.
Welcome to the highly sought-after 55+ community of Costa Serena! This charming 2 bedroom, 1 bath twin home offers the flexibility to serve as either a rental property or comfortable primary residence. The property is being sold AS IS, providing you with a blank canvas to create the ideal living space. Put your personal touch on every room to reflect your unique style and preferences. The west-facing orientation invites you to embrace stunning sunsets and refreshing ocean breezes from the property. The light and bright interior showcases a spacious living room, cozy kitchen with dazzling dining area and a laundry nook equipped with washer and dryer hook-ups and built-in shelves for extra storage. The attached single car garage and additional parking
