How Increased Mortgage Interest Rates Affect You

There is SO MUCH in the news about rising mortgage interest rates lately. It seems like just a moment ago we were seeing mortgage rates hovering around 3.75%. Those days are very likely behind us as we approach 5% and beyond on a more regular basis. While this might seem catastrophic to some, the reality is that rates below 5% are NOT the norm. The average interest rate over the last 50 years is somewhere between 8% and 9%. Regardless of that fact, increased mortgage interest rates will affect … [Read more...]

2017 Predictions For The Real Estate Market

Well here we are again, a brand new year. Time for fresh starts (yay!), resolutions (ugh!), and predictions for the new year (I nailed it last year!). Here are my 2017 predictions for the real estate market: National trends: Nationally the market will slow. Gains will still be made in home values but at a slower rate. Great news for places like San Francisco, Portland OR, and New York City where it's become nearly impossible for middle class buyers to enter the housing market. The … [Read more...]

The BREXIT Effect On Real Estate

While the debate rages on about sanity of the British vote to secede from EU, we here across the pond are seeing the effect of the BREXIT on real estate. Proof of the global nature of our economy can be seen in the immediate effect on our stock market, as well as the positive impact on our real estate market. Here in Phoenix we're seeing benefits to both buyers and sellers and here is a simple explanation of why that is. Many have been anticipating a rise in interest rates. The Fed has given … [Read more...]

Buy Now, Brag Later

  What a surprise, A real estate agent who believes that NOW is the perfect time to buy. If you are skeptical about pronouncements that urge you to act now based upon predictions of the future, it's certainly understandable. While the recent housing market crash is, in my humble opinion, not something we're likely to see happen again in our or our children's lifetimes, it certainly gives us pause in making predictions about real estate investments ALWAYS moving in a positive … [Read more...]

The sweet spot for home buying

Recently I’ve been hearing a lot about the “slowing effect” of rising mortgage rate. A recent conversation with a potential home buyer reflected the hesitation often felt rates begin to tick up. Having lived through the early 80's, I have a vivid recollections of mortgage rates very near 18 percent as my parents struggled to sell their home and move from New York to Arizona. It got me wondering how current rates compare to the lifetime average mortgage rates for people in their 20's, 30's, and … [Read more...]