Whitney Minnich Real Estate and Community Updates

Mortgage Rates Fall to 3-Month Low July 6, 2018 Mortgage rates were back down across the board again this week, offering some temporary relief to home buyers. Rates posted a rapid increase throughout most of the spring but have recently reversed course, declining in five of the past six weeks. The 30-year fixed-rate mortgage is now at its lowest average since April. “The run-up in mortgage rates earlier this year represented not just a rise in risk-free borrowing costs, but for investors, the mortgage spread also rose back to more normal levels by about 20 basis points,” says Sam Khater, Freddie Mac’s chief economist. “What that means for buyers is good news. Mortgage rates may have a little more room to decline over the very short term.” Freddie Mac reports the following national averages with mortgage rates for the week ending July 5: 30-year fixed-rate mortgages: averaged 4.52 percent, with an average 0.5 point, dropping from last week’s 4.55 percent average...

Just another reason not to wait to purchase a home: "...if the economy continues to improve as I expect, I think it will be appropriate at some point this year to take the initial step to raise the federal funds rate target and begin the process of normalizing monetary policy." - Federal Reserve Chair Janet Yellen YELLEN: Rate hikes are coming this year Myles UDland - MAY 22, 2015, 1:01 PM Federal Reserve chair Janet Yellen said it will be appropriate for the Fed to raise rates at some point this year.  Yellen's comments were delivered on Friday before the Greater Providence Chamber of Commerce.   Here's the key peel from Yellen's speech: Given this economic outlook and the attendant uncertainty, how is monetary policy likely to evolve over the next few years? Because of the substantial lags in the effects of monetary policy on the economy, we must make policy in a forward-looking manner. Delaying action to tighten monetary policy until employm...

Just another reason to purchase a home now. Contact me, 571-970-7195 or whitney@whitneyminnich.com, to start the buying process today. Fed: Interest Rate Hikes Likely in June DAILY REAL ESTATE NEWS | THURSDAY, APRIL 09, 2015 The Federal Reserve is signaling that it will likely take action on increasing interest rates in two months, despite recent data that shows a weakened economy. This would be the first rate increase since 2006. "I could imagine circumstances where a June rate hike could still be in play," says William Dudley, New York Fed president, and a voting member on the Fed's policy committee. "If the economy's strong, the unemployment rate is dropping, wages are rising, and the outlook is good, you could conceivably get to that point. The bar is probably a little bit higher" for a June hike given recent data. Two central bank officials said Wednesday that disappointing job growth, manufacturing activity, and retail sales over the winter...

The Federal Reserve is signaling that it will likely take action on increasing interest rates in two months - this would be the first rate increase since 2006. If you've been thinking about selling your home, you might want to consider putting it on the market now so buyers can lock in the lower rates. Contact me now at 571-970-7195 or whitney@whitneyminnich.com to start the selling process today. Fed: Interest Rate Hikes Likely in June DAILY REAL ESTATE NEWS | THURSDAY, APRIL 09, 2015 The Federal Reserve is signaling that it will likely take action on increasing interest rates in two months, despite recent data that shows a weakened economy. This would be the first rate increase since 2006. "I could imagine circumstances where a June rate hike could still be in play," says William Dudley, New York Fed president, and a voting member on the Fed's policy committee. "If the economy's strong, the unemployment rate is dropping, wages are rising, and th...

Prices are going up, interest rates are still low - it's a great time to purchase a home. If you've been thinking about buying a home, it's the perfect time to start the conversation! Contact me today at 571-970-7191 or whitney@whitneyminnich.com. House Prices Record Annual Gains, Expected to Rise in the Future BY  MICHAEL NEAL   on   APRIL 2, 2015 The recent  release  by the Federal Housing Finance Agency (FHFA) shows that its measure of house prices, House Price Index – Purchase Only, rose by 5.1% on a 12-month seasonally adjusted basis in January 2015. This marks the 36 th  consecutive month of year-over-year growth. Over this nearly three-year period, house prices have risen by 20.1%. Similarly, the recent  release  from Standard and Poor’s (S&P) and Case-Shiller indicates that their measure of national house prices, the House Price Index – National, rose by 4.5% on a year-over-year seasonally adjusted basis. This is the 33 rd ...

If you've been thinking about buying a home, it's the perfect time to start the conversation! Contact me today at 571-970-7191 or whitney@whitneyminnich.com. Setting the Record Straight: Top Home Buying Myths by Courtney Soinski Whether you’re a real estate professional or first-time home buyer, the home buying process and real estate transactions can be stressful.  There tends to be some common misconceptions in this process, so it’s very important that you’re well informed of what is fact and what is fiction.  We’re here to set the record straight. Myth #1:  You don’t need a REALTOR®. Before you bravely take on one of the biggest purchases or sales of your life, remember this: it’s not as easy as it looks.  REALTORS® know all the ins and outs of the local area as well as the market in which you’re looking to buy or sell.  Picking up the phone and calling a REALTOR® may be one of the best decisions you’ll make. Myth #2:  The bigger the downpa...

It's a great time to buy a home! If you've been thinking about buying a home, it's the perfect time to start the conversation! Contact me today at 571-970-7191 or whitney@whitneyminnich.com. Why Waiting To Buy Might Not Make Sense   The KCM Crew ,  March 31, 2015 Whether you are a first time or a move-up buyer, there are two factors that will impact the amount of house you can afford in your price range: home prices & mortgage rates. Let’s look at what the experts are predicting over the next twelve months for these two areas: PRICES Over 100 economists, real estate experts and investment & market strategists were recently  polled  as a part of the  Home Price Expectation Survey . They were asked to project where home prices are headed. The average value appreciation projected over the next twelve-month period is approximately 4.4%. MORTGAGE INTEREST RATES In the latest  Economic & Housing Market Outlook  from...

Just another sign that it's a great time to purchase a home. If you've been thinking about buying a home, it's the perfect time to start the conversation! Contact me today at 571-970-7191 or whitney@whitneyminnich.com. Mortgage Rates Drop Even Lower This Week DAILY REAL ESTATE NEWS  | FRIDAY, MARCH 27, 2015 For the second consecutive week, mortgage rates continued to fall, with the 30-year fixed-rate mortgage still well below 4 percent and 15-year rates dipping below 3 percent, Freddie Mac reports in its weekly mortgage market survey. "Low mortgage rates are a welcome sign for those in the market to buy a home this spring season and will help to support homebuyer affordability," says Len Kiefer, deputy chief economist at Freddie Mac. Freddie Mac reports the following national averages with mortgage rates for the week ending March 26: 30-year fixed-rate mortgages: averaged 3.69 percent, with an average 0.6 point, dropping from last week's 3.78 percent ...