It is officially June and the start to a new month!
In the June issue of our newsletter you will find events this month, featured listings, market predictions for 2023, and how to follow us on social media.
It is officially May and the start to a new month!
In the May issue of our newsletter you will find events this month, featured listings, market predictions for 2023, and how to follow us on social media.
A mortgage rate is the rate of interest charged on a mortgage. Mortgage rates are determined by the lender and can be either fixed, staying the same for the term of the mortgage, or variable, fluctuating with a benchmark interest rate. Mortgage rates vary for borrowers based on their credit profile. Mortgage rate averages also rise and fall with interest rate cycles and can drastically affect the homebuyers’ market.
The average long-term U.S. mortgage rate inched down for the fifth straight week, positive news for potential homebuyers and the real estate market. The average on the benchmark 30-year rate ticked down to 6.27% from 6.28% the previous week. The average rate last year at this time was 5%. The recent decline in mortgage rates is good news for prospective homebuyers, many of whom were pushed to the sidelines during the past year as the Federal Reserve raised its main lending rate nine straight times in a bid to beat back stubborn, four-decade high inflation. Though supply remains low, home prices are retreating slightly, another development that could lure buyers back into the market.
The Federal Reserve will likely have to cut its benchmark lending rate before summer, as the fallout from the U.S. banking crisis triggers a potential credit crunch that could threaten broader economic growth. A full 25 basis point rate cut is expected in July, with the odds of a larger 50 basis point reduction rising to 53.2%.
This could be great news for prospective homebuyers!
For more information, go to the links below:
https://www.floridarealtors.org/news-media/news-articles/2023/04/mortgage-rates-down-5th-week-row
https://www.floridarealtors.org/news-media/news-articles/2023/03/fed-interest-rate-decrease-summer
It is officially April and the start to a new month!
In the April issue of our newsletter you will find events this month, featured listings, market predictions for 2023, and how to follow us on social media.
It is officially March and the start to a new month!
In the March issue of our newsletter you will find events this month, featured listings, market predictions for 2023, and how to follow us on social media.
It is officially February and the start to a new month!
In the February issue of our newsletter you will find events this month, featured listings, market predictions for 2023, and how to follow us on social media.
We have officially made it to the first month of 2023. First and foremost, all real estate is “local” in nature and my predictions are based on our area. One important factor to keep an eye on…what will happen in the broader economy. Will inflation slow? Will there be a recession? Or will the Federal Reserve deliver a so-called “soft landing”? All of these factors can have a major effect on the real estate market nationally and locally. Here are my predictions:
If you ever have any real estate needs please don’t hesitate to reach out. I’m always happy to help you through the process. Can’t wait to see what the next year brings for real estate!
It is officially January and the start to a new month and new year!
In the January issue of our newsletter you will find events this month, featured listings, new market predictions for 2023, and how to follow us on social media.
It is officially December and the last month of the year!
In the December issue of our newsletter you will find festive events this month, featured listings, how accurate our market predictions for 2022 turned out to be, and how to follow us on social media.
Wire scam is something you may have heard of before. You may have even found yourself wondering how it happens. Well, I’m here to let you know that wire scam is still a thing because it still works. Here is what sometimes takes place:
Homebuyers keep losing deposits and even homes under contract because hackers jump in at the last minute and email them false wiring instructions.
Under the scam, a criminal gains access to emails from a trusted partner in a home buying transaction, such as a title company, lawyer or construction firm. They monitor back-and-forth communications until it’s time to make a deposit or send a final amount to close on the home. Since the hackers have access to a transaction firm’s email system, the buyer receives an email that actually came from the trusted business they’ve been working with. In these cases, scammers may monitor correspondence about specific transactions for months before swooping in to send fake wiring instructions.
When the scam email arrives, it appears legitimate. However, it typically contains a slight variances in the links if the buyer chooses to respond via “reply,” such as a return email address that has a “1” somewhere in the middle where an “i” usually appears.
The results can cost buyers tens or hundreds of thousands of dollars.
You may think it sounds crazy (how could someone make that mistake) yet there are 2,300 complaints of cybercrime a day.
It is important to be cautious during every step of a real estate transaction. As a realtor/broker, I always make sure to help my clients through the process.