Tuesday, November 30, 2021 / by Kenneth Brands
As we near the end of the year, more homeowners are realizing the benefits of today’s sellers’ market. Record-breaking home price appreciation, growing equity, low inventory, and competitive mortgage rates are motivating homeowners to make a move that addresses their changing lifestyles.
In fact, recent data from realtor.com shows a larger share of homeowners are planning to list their houses this winter. So, that means more homes are about to hit the market, which will lead to more choices for buyers too.
According to George Ratiu, Manager of Economic Research at realtor.com: "The pandemic has delayed plans for many Americans, and homeowners looking to move on to the next stage of life are no exception. Recent survey data suggests the majority of prospective sellers are actively preparing to enter the market this winter."
If you’re thinking of waiting until the spring to sell your house ...
Friday, November 26, 2021 / by Kenneth Brands
With the forebearance program coming to an end and mortgage rates beginning to rise, home buyers and home sellers are turning to local real estate experts to understand how this will impact the Dallas-Fort Worth Real Estate Market.
With all of this uncertainty, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, I expect we'll continue to see a rash of troublesome headlines over the next few months. To make sure you aren’t paralyzed by a headline, turn to reliable resources like Biggs Realty for a look at what to expect from the housing market in 2022.
There are already alarmist headlines starting to appear. Here are two recent topics you may have seen in the news.
1. Foreclosures Are Spiking Today
There are a number of headlines circulating that call out the rising foreclosures in today’s real estate market. Those stories focus on an overly narrow view on that topic: the current vo ...
Wednesday, November 24, 2021 / by Kenneth Brands
Last week, the average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, and experts project rates will continue rising through 2022:
“The 30-year fixed-rate mortgage was 2.9% in the third quarter of 2021. We forecast mortgage rates to increase slightly through the remainder of the year and reach 3.0%, rising to 3.5% for full year 2022.”
If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise.
Taking Time Off Can Be Costly
Mortgage rates play a significant role in your home search. As rates go up, your monthly mortgage payment increases if you’re buying a home, directly affecting how much you can afford. And even the smallest increase can have a large impact on your monthly payment (see chart below):With mortgage rates on the rise, you’ve likely seen your purchasing power impacted already. Instead of waiting and hoping rates will fa ...
Friday, November 12, 2021 / by Kenneth Brands
If you are currently renting an apartment in the Dallas-Fort Worth Metroplex, odds are you've already received notice that your monthly rent amount will be increased upon your next lease renewal. If by chance you havent received notice yet, brace yourself because it's coming soon! Rent increases have become a painful "norm" for apartment renters throughout the Dallas-Fort Worth Metroplex. Here's a look at how apartment rent increases compared across some of the largest cities in the D.F.W. metroplex.
McKinney, Texas: McKinney, Texas has seen the largest apartment rent increase out of any city in the Dallas-Fort Worth metroplex. Apartment rents in McKinney, Texas have increased by 25.2% compared to this same time last year. The median cost of renting a one-bedroom unit in McKinney is $1461, while the median monthly rent amount in McKinney for a two-bedroom unit came in at $1698.
Plano, Texas: Apartment rents in Plano, Texas have increased by 1.2% over just the last m ...
Monday, November 8, 2021 / by Kenneth Brands
Experts Project That Mortgage Rates Will Continue Rising In 2022
Mortgage rates are one of several factors that impact how much you can afford if you’re buying a home. When rates are low, they help you get more house for your money. Within the last year, mortgage rates have hit the lowest point ever recorded, and they’ve hovered in the historic-low territory. But even over the past few weeks, rates have started to rise. This past week, the average 30-year fixed rate was 3.14%.
What does this mean if you’re thinking about making a move? Waiting until next year will cost you more in the long run. Here’s a look at what several experts project for mortgage rates going into 2022.
“The average 30-year fixed-rate mortgage (FRM) is expected to be 3.0 percent in?2021 and 3.5 percent in 2022.”
Doug Duncan, Senior VP & Chief Economist, Fannie Mae:
“Right now, we forecast mortgage rates to ...