Posts with tag 'Bend'
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Mortgage Rates Drop to Lowest Level in over a Year and a Half
Mortgage rates have hit their lowest point in over a year and a half. And that's big news if you've been sitting on the homebuying sidelines waiting for this moment.
Even a small decline in rates could help you get a better monthly payment than you would expect on your next home. And the drop that's happened recently isn't small. As Sam Khater, Chief Economist at Freddie Mac, says:
"Mortgage rates have fallen more than half a percent . . . and are at their lowest level since February 2023."
But if you want to see it to really believe it, here's how the math shakes out. Take a closer look at the impact on your monthly payment.
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Bend Premier Real Estate | September 2024 Newsletter
What's in the September 2024 Bend Premier Real Estate Newsletter?
- Are Lower Mortgage Rates Spurring Bend Sales?
- Summertime Fruit Salad
- 10 Things to Do in September
- Take the Climbers Trail to Middle Sister
- Early Forecasts for the 2025 Housing Market
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Bend Oregon Real Estate | August 2024 Trends
Are Lower Mortgage Interest Rates Spurring Bend Real Estate Sales?
Mortgage interest rates have come down to their lowest rate in a year with the 30 year mortgage now at 6.35%. This has made a difference in both the buying and selling side of Bend home sales with buyers now being able to afford more than they could just a few months ago and sellers, who have been sitting on the fence on whether or not they wanted to give up their great mortgage rate for a new, higher one on a different home, feeling comfortable enough to at last list their home. We are seeing more listings...
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How the Federal Reserve's Next Move Could Impact the Housing Market
Now that it's September, all eyes are on the Federal Reserve (the Fed). The overwhelming expectation is that they'll cut the Federal Funds Rate at their upcoming meeting, driven primarily by recent signs that inflation is cooling, and the job market is slowing down. Mark Zandi, Chief Economist at Moody's Analytics, said:
"They're ready to cut, just as long as we don't get an inflation surprise between now and September, which we won't."
But what...
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Are We Heading into a Balanced Market?
If you've been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand. But is that going to shift now that inventory is growing? Here's a breakdown of what you need to know.
What Is a Balanced Market?
A balanced market is generally defined as a market with about a five-to-seven-month supply of homes available for sale. In this type of market, neither buyers nor sellers have a clear advantage. Prices tend to stabilize, and there's a healthier number of
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