Freddie Mac reported mortgage rates have moved up to almost 4.0%; the company reports the average 30-year fixed rate is now 3.98%.
I believe 4.0% is a milestone that people will take notice of. When they hear this number, people will realize rates are rising. Those who are interested in buying homes will begin to buy in earnest before it moves up higher, in my view.
With the Federal Reserve hinting it may start to cut back on buying mortgage-backed securities and the employment picture improving, mortgage rates could continue to climb.
If home prices stay on the upward trend as does mortgage rates, it could put a damper on the recent housing recovery in the longer-term. However, I believe prices will continue to trend slightly higher on a sequential basis for the remainder of the year in the South Florida market. Buyers will become more aggressive to take advantage of the low rates and I do not foresee a huge influx of inventory over the next six months of the year.
If you are thinking of selling your home, now may be a very good time to get it listed.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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