July Housing Market Update. According to NAR, home sales rose 9% nationwide, while days on market (-8%)and listings dropped (.4%) in July. July is usually not a big month for real estate sales so an 8% price may predict even higher price rise rates in the fall. NAR believes home prices will rise 9% YoY.
Foreclosure Rates Higher in Certain Markets Those that follow the real estate industry will also find that the rate of foreclosures in 2017 is higher in certain states, which are spread across the country. Overall, 1 in ever 1,620 homes in the United States is in the foreclosure process.
Mortgage interest rates have increased by more than half of a point since the beginning of the year. They are projected to increase by an additional half of a point by year’s end. Because of this increase in rates, some are guessing that home prices will depreciate.
Mortgage rates edge lower – 30-year rate at 4.71% | Mel Gilson, Broker | Gilson Real Estate | Lakeland, Florida Your real estate agent will be with you from start to finish and involved in all facets of your home buying experience. The mortgage lender handles only the financing. Whereas a mortgage broker, for example, might have access to larger pools of money from a wider variety of sources.
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After months of steadily rising prices, bidding wars, and offers over asking, existing-home prices are continuing to fall. Prices hit a median $245,100 in September, sliding nearly 3.2% from.
The following graph, based on data from the report, reveals what happened to home prices the last six times mortgage rates rose by at least. Whether you are a move-up buyer or first-time buyer, waiting to purchase your next home based on the belief that prices will fall because of rising mortgage rates makes no sense.
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Oil prices dropped. Association of Home Builders housing index for September climbed more than expected. Mortgage rates.
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Mortgage interest rates have increased by more than half of a point since the beginning of the year. They are projected to increase by an additional half of a point by year’s end. Because of this increase in rates, some are guessing that home prices will depreciate. However, some prominent experts.
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