The latest mortgage statistics show an improving market in Sarasota and Manatee counties as the numbers continue to improve. Both short-term delinquency rates (30 days late) and serious delinquencies (90 days + late) are lower than they were last year at this time. From a mortgage perspective, Hurricane Irma had significantly more impact than this year’s red tide.
Category: Home Buying
For the second month in a row, the Sarasota and Manatee county markets for condos & townhomes are moving in lockstep for homes below $600,000. However, the Manatee market has really slowed down when compared to Sarasota for condos above $600,000.
Whether you are looking to buy, sell or invest in real estate, it is important to understand market conditions. Real estate is hyper-local, with market dynamics changing from subdivision to subdivision. However, county trends generally give you a good idea of what to expect.
The Sarasota and Manatee county markets for condos & townhomes are currently moving in lockstep for homes below $600,000. However, the Manatee market has really slowed down when compared to Sarasota for condos above $600,000.
We saw mortgage rates rise again last month. The most recent rise will cost new borrowers an additional $8.50 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages are currently at 4.86%. At the end of last month, they were sitting at 4.72%. After a few months of relatively stability, the general forecast for a continued rise over the next twelve months is steadily becoming a reality.