Found 3 blog entries tagged as mortgage.

The Federal Reserve's recent decision to cut its benchmark interest rate for the first time in nine months has significant implications for consumers, homeowners, and the housing market. While mortgage rates have already started to dip in anticipation, the full effects of this quarter-point cut will unfold gradually over the coming months.

In this article, we'll break down how the Fed's rate cut affects mortgage rates, savings accounts, auto loans, and credit card debt, while also exploring what it means for the broader economy and real estate market.

Understanding the Federal Reserve’s Role in Interest Rates

What Is the Federal Funds Rate?

The federal funds rate, set by the Federal Reserve (the Fed), is the interest rate at which banks lend…

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Home buyers looking at homes for sale

The housing shortage is affecting some people and areas harder than others

In today's real estate market, an unexpected issue has emerged, one that is directly affecting a large segment of potential homebuyers. Despite a noticeable slowdown due to increasing mortgage rates, there's an undeniable shortage in the supply of homes for sale, a sharp contrast to the state of the market in 2019.

This housing shortage is affecting some segments more than others. In particular, homebuyers with an annual income around $100,000, slightly above the national average, are feeling the squeeze. Back in May, when the 30-year fixed mortgage rate was lingering in the high-6% range, these individuals could only afford houses priced around $341,000. Unfortunately,…

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Will South Florida's Real Estate Market Crash?

Florida seemingly continues to operate in its own world—at least when it comes to real estate. While signs indicating slowing momentum are popping up more and more throughout the nation, six of the top 25 overvalued home markets are right in our backyard, and several new studies indicate a prolonged period of unaffordability.

Florida Atlantic University, Florida International University, and the University of Alabama found that the current combination of high demand and low inventory that began at the start of the pandemic is likely to continue thanks in part to future population growth projections.

Which Florida Communities Are The Most Overvalued?

Of the six Sunshine State metro areas identified, Fort Myers topped the list. Typical buyers…

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