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Author: Longboat Key Mortgage Mortgage Syndicated User

Why Experts Say Mortgage Rates Should Ease Over the Next Year

Written by Longboat Key Mortgage Mortgage Syndicated User on . Posted in Affordability, Economy, First-Time Buyers, For Buyers, For Sellers, Longboat Key Mortgage, Mortgage Longboat Key, Mortgage Rates.

You want mortgage rates to fall – and they’ve started to. But is it going to last? And how low will they go? Experts say there’s room for rates to come down even more over the next year. And one of the leading indicators to watch is the 10-year treasury yield. Here’s why. The Link Between Mortgage Rates and the 10-Year Treasury Yield For over 50 years, the 30-year fixed mortgage rate has closely followed the movement of the 10-year treasury yield, which is a widely watched benchmark for long-term interest rates (see graph below): When the treasury yield climbs, mortgage rates...

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Why October Is the Best Time To Buy a Home in 2025

Written by Longboat Key Mortgage Mortgage Syndicated User on . Posted in Buying Tips, First-Time Buyers, For Buyers, Longboat Key Mortgage, Mortgage Longboat Key.

If you’ve been watching from the sidelines, now’s the time to lean in. It’s officially the best time to buy this year. According to Realtor.com, this October will have the most buyer-friendly conditions of any month in 2025: “By mid-October, buyers across much of the country may finally find the combination of inventory, pricing, and negotiating power they’ve been waiting for—a rare opportunity in a market that has been tight for most of the past decade.” So, if you’re ready and able to buy right now, shooting for this month means you should see: More homes to choose from Less competition...

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What Buyers Say They Need Most (And How the Market’s Responding)

Written by Longboat Key Mortgage Mortgage Syndicated User on . Posted in Affordability, First-Time Buyers, For Buyers, Home Prices, Longboat Key Mortgage, Mortgage Longboat Key, Mortgage Rates.

A recent survey from Bank of America asked would-be homebuyers what would help them feel better about making a move, and it’s no surprise the answers have a clear theme. They want affordability to improve, specifically prices and rates (see below): Here’s the good news. While the broader economy may still feel uncertain, there are signs the housing market is showing some changes in both of those areas. Let’s break it down so you know what you’re working with. Prices Are Moderating Over the past few years, home prices climbed fast, sometimes so fast it left many buyers feeling shut out. But...

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Closing Costs Unpacked: State-by-State Breakdowns for Today’s Buyers

Written by Longboat Key Mortgage Mortgage Syndicated User on . Posted in First-Time Buyers, For Buyers, Longboat Key Mortgage, Mortgage Longboat Key.

If you’re planning to buy a home this year, there’s one expense you can’t afford to overlook: closing costs. Almost every buyer knows they exist, but not that many know exactly what they cover, or how different they can be based on where you’re buying. So, let’s break them down. What Are Closing Costs? Your closing costs are the additional fees and payments you make when finalizing your home purchase. Every buyer has them. According to Freddie Mac, they typically include things like homeowner insurance and title insurance, as well as various fees for your: Loan application Credit...

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Downsizing Without Debt: How More Homeowners Are Buying Their Next House in Cash

Written by Longboat Key Mortgage Mortgage Syndicated User on . Posted in Downsize, Equity, For Sellers, Longboat Key Mortgage, Mortgage Longboat Key, Selling Tips.

If you’ve been thinking about downsizing to lower your expenses, be closer to family, or just make life easier, here’s a trend worth paying attention to: More homeowners are buying their next house outright, without taking on a new mortgage. And, if you’ve owned your home for a while, you may be able to do the same. No mortgage. No monthly housing payments. A Record Share of Homeowners Are Mortgage-Free According to analysis from ResiClub of Census data, more than 40% of U.S. owner-occupied homes are mortgage-free – an all-time high for this data series. That means 4 in 10 homeowners...

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Why Buyers and Sellers Face Very Different Conditions Today

Written by Longboat Key Mortgage Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Home Prices, Inventory, Longboat Key Mortgage, Mortgage Longboat Key.

There’s a new divide in housing right now. In some states, buyers are gaining ground. In others, sellers still have the upper hand. It all depends on where you live. Curious what’s happening in your state? These 3 maps show how the split is playing out across the country. In each one: Darker Shades of Blue = Buyer friendly Lighter Shades of Blue = Seller strong Inventory Sets the Stage While the number of homes for sale has improved pretty much across the board, how much growth we’ve seen can look dramatically different based on where you live. And that impacts who has the leverage...

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3 Reasons Affordability Is Showing Signs of Improvement This Fall

Written by Longboat Key Mortgage Mortgage Syndicated User on . Posted in Affordability, Buying Tips, For Buyers, Longboat Key Mortgage, Mortgage Longboat Key.

For the past couple of years, it’s been tough for a lot of homebuyers to make the numbers work. Home prices shot up. Mortgage rates too. And a number of people hit pause because it just didn’t feel possible. Maybe you were one of them. But there’s some encouraging news. If you’ve been waiting for a better time to jump back in, affordability may finally be showing signs of improvement this fall. The latest data from Redfin shows the typical monthly mortgage payment has been coming down, and is now about $290 lower than it was just a few months ago (see graph below): And here’s why this is...

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