Remove Construction Remove Fixed-rate mortgage Remove Pre-approval
article thumbnail

Mortgage rates might soar even higher

Housing Wire

“Now the Fed has signaled that it will hike rates several more times this year and next year, so mortgage rates have plenty of room to go up even more.”. We do not see new construction returning in a meaningful way any time soon. “We do not see new construction returning in a meaningful way any time soon.

Mortgages 448
article thumbnail

The strategy behind UWM’s multibillion dollar investment

Housing Wire

But for brokers, price isn’t the only determining factor when comparing rates for the borrower. On top of competitive rates, getting approved for a mortgage has to be an easy and quick closing process for the customer, said Kevin Leibowitz, CEO of brokerage Grayton Mortgage.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Housing Market Predictions for the Next 2 Years

Marco Santarelli

Shifting Market Dynamics: Higher interest rates may incentivize some homeowners who locked in ultra-low rates to stay put. New Construction: While not a major short-term solution, an increase in new home construction activity could eventually contribute to a more balanced inventory level.

Marketing 105
article thumbnail

Mortgage, Mortgage, Mortgage: What First-Time Home Buyers Need to Know

Realty Biz

There are fixed-rate mortgages, adjustable-rate mortgages, hybrid loans, reverse mortgages, and FHA loans that all come with varying interest rates. To get the best rate for your situation, be sure to look closely at each type of mortgage.

Mortgages 101
article thumbnail

Are We in a Housing Bubble: What to Look for in 2023?

Marco Santarelli

An increase in the number of new housing developments and construction projects : An oversupply of homes can lead to a decline in demand and a drop in prices. It is important to get pre-approved before the market gets really hot, as it may be more difficult to get pre-approved later on.

article thumbnail

Your Guide to Starter Homes in Today’s Housing Market: Do They Still Exist?

Redfin

When you pay your mortgage each month, the payments go toward a tangible asset rather than a landlord. Owning a home can also bring more financial stability , especially with a fixed-rate mortgage, as it offers predictable monthly payments, compared to rent, which can rise. Is it still possible to buy a starter home?

article thumbnail

NYC Real Estate Market 2020 Overview

Marco Santarelli

Let us continue to explore the housing market trends — from pre-COVID-19 days until July. It seems they want to cash in on the opportunity to purchase their favorite properties amid a historically low-interest rate of 3.3 percent on a 30-year fixed-rate mortgage. The month's supply of inventory dropped by 11.5

Marketing 142