A Drop in Equity Doesn’t Mean Low Equity

Written by Doral Mortgage Syndicated User on June 15, 2023. Posted in Doral Condo Mortgages, Doral Mortgage, Doral Mortgage Rates, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing, Uncategorized.

You may see media coverage talking about a drop in homeowner equity. What’s important to understand is that equity is tied closely to home values. So, when home prices appreciate, you can expect equity to grow. And when home prices decline, equity does too. Here’s how this has played out recently. Home prices rose rapidly during the ‘unicorn’ years. That gave homeowners a considerable equity boost. But those ‘unicorn’ years couldn’t last forever. The market had to moderate at some point, and that’s what we saw last fall and winter. As home prices dropped slightly in the back half of 2022,...

Your Needs Matter More Than Today’s Mortgage Rates

Written by Doral Mortgage Syndicated User on June 14, 2023. Posted in Doral Condo Mortgages, Doral Mortgage, Doral Mortgage Rates, For Buyers, For Sellers, Interest Rates, Move-Up Buyers, Uncategorized.

If you’re thinking about selling your house right now, chances are it’s because something in your life has changed. And, while things like mortgage rates are a key part of your decision on what you’ll buy next, it’s important to not lose sight of the reason you want to make a change in the first place.It’s true mortgage rates have climbed from the record lows we saw in recent years, and that has an impact on affordability. With rates where they are right now, some homeowners are deciding they’ll wait to sell because they don’t want to move and have a higher mortgage rate on their next...

Are Home Prices Going Up or Down? That Depends…

Written by Doral Mortgage Syndicated User on June 13, 2023. Posted in Doral Condo Mortgages, Doral Mortgage, Doral Mortgage Rates, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing, Uncategorized.

Media coverage about what’s happening with home prices can be confusing. A large part of that is due to the type of data being used and what they’re choosing to draw attention to. For home prices, there are two different methods used to compare home prices over different time periods: year-over-year (Y-O-Y) and month-over-month (M-O-M). Here’s an explanation of each. Year-over-Year (Y-O-Y):This comparison measures the change in home prices from the same month or quarter in the previous year. For example, if you’re comparing Y-O-Y home prices for April 2023, you would compare...

Why You Can’t Compare Now to the ‘Unicorn’ Years of the Housing Market [INFOGRAPHIC]

Written by Doral Mortgage Syndicated User on June 10, 2023. Posted in Doral Condo Mortgages, Doral Mortgage, Doral Mortgage Rates, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Infographics, Pricing, Uncategorized.

Some HighlightsComparing housing market metrics from one year to another can be challenging in a normal housing market – and the last few years have been anything but normal. In a way, they were ‘unicorn’ years.Expect unsettling housing market headlines this year, mostly due to unfair comparisons with the ‘unicorn’ years.Connect with a local real estate professional who can share the data that puts those headlines in the proper perspective.

This Real Estate Market Is the Strongest of Our Lifetime

Written by Doral Mortgage Syndicated User on June 9, 2023. Posted in Doral Condo Mortgages, Doral Mortgage, Doral Mortgage Rates, For Buyers, For Sellers, Housing Market Updates, Uncategorized.

When you look at the numbers today, the one thing that stands out is the strength of this housing market. We can see this is one of the most foundationally strong housing markets of our lifetime – if not the strongest housing market of our lifetime. Here are two fundamentals that prove this point. 1. The Current Mortgage Rate on Existing MortgagesFirst, let’s look at the current rate on existing mortgages. According to the Federal Housing Finance Agency (FHFA), as of the fourth quarter of last year, over 80% of existing mortgages have a rate below 5%. That’s significant. And, to take that...

Florida Mortgage | Moving Fuels the Economy

Written by Doral Mortgage Syndicated User on June 9, 2023. Posted in Doral Condo Mortgages, Doral Mortgage, Doral Mortgage Rates.

Florida Mortgage | Moving Fuels the Economy. Moving fuels the economy. Let’s connect when you’re ready to buy or sell. NMLS ID 1834853 #floridamortgage #floridamortgagerates #floridamortgagecompany

The Main Reason Mortgage Rates Are So High

Written by Doral Mortgage Syndicated User on June 8, 2023. Posted in Doral Condo Mortgages, Doral Mortgage, Doral Mortgage Rates, For Buyers, Interest Rates, Uncategorized.

Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions: Why Are Mortgage Rates So High?When Will Rates Go Back Down?Here’s context you need to help answer those questions.1. Why Are Mortgage Rates So High? The 30-year fixed-rate mortgage is largely influenced by the supply and demand for mortgage-backed securities (MBS). According to Investopedia: “Mortgage-backed securities (MBS) are...

Real Estate Is Still Considered the Best Long-Term Investment

Written by Doral Mortgage Syndicated User on June 7, 2023. Posted in Doral Condo Mortgages, Doral Mortgage, Doral Mortgage Rates, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Uncategorized.

With all the headlines circulating about home prices and rising mortgage rates, you may wonder if it still makes sense to invest in homeownership right now. A recent poll from Gallup shows the answer is yes. In fact, real estate was voted the best long-term investment for the 11th consecutive year, consistently beating other investment types like gold, stocks, and bonds (see graph below):If you’re thinking about purchasing a home, let this poll reassure you. Even with everything happening today, Americans recognize owning a home is a powerful financial decision.Why Do Americans Still Feel...

Florida Mortgage | Florida’s New Law Requires Insurance Companies to Address Rates

Written by Doral Mortgage Syndicated User on June 6, 2023. Posted in Doral Condo Mortgages, Doral Mortgage, Doral Mortgage Rates.

Florida Mortgage | Florida’s New Law Requires Insurance Companies to Address Rates | NMLS ID 1834853 #floridamortgage #floridahomeownersinsurance #fidelityhomegroup

Oops! Home Prices Didn’t Crash After All

Written by Doral Mortgage Syndicated User on June 6, 2023. Posted in Doral Condo Mortgages, Doral Mortgage, Doral Mortgage Rates, For Buyers, For Sellers, Housing Market Updates, Pricing, Uncategorized.

During the fourth quarter of last year, many housing experts predicted home prices were going to crash this year. Here are a few of those forecasts:Jeremy Siegel, Russell E. Palmer Professor Emeritus of Finance at the Wharton School of Business:“I expect housing prices fall 10% to 15%, and the housing prices are accelerating on the downside.”Mark Zandi, Chief Economist at Moody’s Analytics:“Buckle in. Assuming rates remain near their current 6.5% and the economy skirts recession, then national house prices will fall almost 10% peak-to-trough. Most of those declines will happen sooner...

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