One of the measures of the health of the real estate market is to track how mortgage loan repayments are performing. Understanding the trends regarding homeowner likelihood of default is important to understanding how the future supply of homes for sale will adjust. Of course, data is a bit skewed on the foreclosure front now due to the Pandemic induced moratorium on foreclosures.
Category: Home Prices
After creeping up a bit, we saw mortgage interest rates drop again in the last 30 days. The recent change will save new borrowers another $12 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 2.80% as of this week. Last month at this time, they were sitting at 3.02%. Of course, both are historically low.
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.
After doing some digging on this topic, I was surprised to find that not all realtors have the same opinion on whether or not you should invest in adding some landscaping to your home. I thought this was a no brainer, upgrading landscape increases the value of your home. However, this is not always the case and there is actually a logical reason why.
Is housing one of the best money-making opportunities available today? I know, how could that be possible with the Pandemic continuing to gain steam? Even with the Pandemic, I am reading more and more positive reports from experts. Here are some of the facts that keep reappearing.