The Cascade Team Real Estate Blog

Weekly Review
Newsletter - 09/26/2022

Week of September 19, 2022 in Review

Despite slowing activity in the housing market, supply remains tight. Plus, the Fed’s latest rate hike caused volatility in the markets. Here’s what you need to know:

  • Fed Hikes Rates Another 75 Basis Points
  • Low Housing Inventory Remains Supportive of Prices
  • Household Formations Continue to Outpace Completions
  • More Home Builders Offering Incentives as Confidence Wanes
  • Low Jobless Claims Show Labor Market Remains Tight

Fed Hikes Rates Another 75 Basis Points

As expected, the Fed hiked its benchmark Fed Funds Rate by an aggressive 75 basis points at its meeting last Wednesday. This follows the 25, 50, 75 and 75 basis point hikes the Fed previously

180 Views, 0 Comments
Read Full Post

 

Ben Luthi

The real estate market has two opposing sides: buyers, who want to keep their costs low, and sellers, who want to maximize their profits. Depending on the inventory of available housing, one of those sides might have bigger advantages — and greater bargaining power — than the other. Understanding the difference between a buyer’s market and a seller’s market can be tied back to one of the fundamental laws of economics: supply and demand.

What is a buyer’s market?

When there is a surplus of homes and low demand for them, you’re in a buyer’s market. Prices tend to go down in these conditions, because there’s less competition. Additionally, homes are likely to stay on the market for longer, putting pressure on sellers to

145 Views, 0 Comments
Read Full Post

Ben Luthi

The real estate market has two opposing sides: buyers, who want to keep their costs low, and sellers, who want to maximize their profits. Depending on the inventory of available housing, one of those sides might have bigger advantages — and greater bargaining power — than the other. Understanding the difference between a buyer’s market and a seller’s market can be tied back to one of the fundamental laws of economics: supply and demand.

What is a buyer’s market?

When there is a surplus of homes and low demand for them, you’re in a buyer’s market. Prices tend to go down in these conditions, because there’s less competition. Additionally, homes are likely to stay on the market for longer, putting pressure on sellers to

169 Views, 0 Comments
Read Full Post

After a tumultuous summer for real estate, autumn is nearly here. As of mid-September, the benchmark 30-year fixed-rate mortgage average is hovering just north of 6 percent, and skyrocketing home prices are finally starting to drop, and in some area literally tumble.

Here are our prediction on which directions the housing market will head in as the leaves start to change.

The Housing Market Is About to Be Hammered

That’s a tough opening statement and it’s meant to get your attention. Here is how the pros back that up.

The market seems to be cooling dramatically, and Rick Sharga, executive vice president of market intelligence for ATTOM Data Solutions, says the signs are undeniable. Case in point: July marked the seventh consecutive month

173 Views, 0 Comments
Read Full Post

After a tumultuous summer for real estate, autumn is nearly here. As of mid-September, the benchmark 30-year fixed-rate mortgage average is hovering just north of 6 percent, and skyrocketing home prices are finally starting to drop, and in some area literally tumble.

Here are our prediction on which directions the housing market will head in as the leaves start to change.

The Housing Market Is About to Be Hammered

That’s a tough opening statement and it’s meant to get your attention. Here is how the pros back that up.

The market seems to be cooling dramatically, and Rick Sharga, executive vice president of market intelligence for ATTOM Data Solutions, says the signs are undeniable. Case in point: July marked the seventh consecutive month

100 Views, 0 Comments
Read Full Post

Weekly Review
Newsletter - 09/19/2022

Week of September 12, 2022 in Review

Last week’s inflation data had a big impact on Stocks, Mortgage Bonds and mortgage rates, while chatter of a global recession made headlines. Don’t miss these important details:

  • Markets Plunge After Hotter Than Anticipated Consumer Inflation
  • Initial Jobless Claims Decline for Fifth Straight Week
  • Retail Sales, GDP and Global Recession Talk
  • Crippling Railway Strike Averted

Markets Plunge After Hotter Than Anticipated Consumer Inflation

The Consumer Price Index (CPI), which measures inflation on the consumer level, showed that inflation increased by 0.1% in August. Although this is a low figure, it was larger than the -0.1% decline that was expected.

163 Views, 0 Comments
Read Full Post

After a tumultuous summer for real estate, autumn is nearly here. As of mid-September, the benchmark 30-year fixed-rate mortgage average is hovering just north of 6 percent, and skyrocketing home prices are finally starting to drop, and in some area literally tumble.

Here are our prediction on which directions the housing market will head in as the leaves start to change.

The Housing Market Is About to Be Hammered

That’s a tough opening statement and it’s meant to get your attention. Here is how the pros back that up.

The market seems to be cooling dramatically, and Rick Sharga, executive vice president of market intelligence for ATTOM Data Solutions, says the signs are undeniable. Case in point: July marked the seventh consecutive month

918 Views, 0 Comments
Read Full Post

The 30-year fixed-mortgage rate topped 6% for the first time since 2008 in the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ended Sept. 9. 

Mortgage applications declined 1.2% on a seasonally adjusted basis from the previous week, the MBA said, citing its Market Composite Index, while the association’s Refinance Index slid 4% week over week and 83% year over year. 

“Higher mortgage rates have pushed refinance activity down more than 80% from last year and have contributed to more homebuyers staying on the sidelines,” MBA associate vice president of economic and industry forecasting Joel Kan said in a press release. “Government loans, which tend to be favored by first-time buyers, bucked this trend and increased

217 Views, 0 Comments
Read Full Post

 

  • Pending sales drop nearly 22% from a year-ago
  •          Closings were down about 24% from a year ago
  •          Economist Gardner expects prices will soften.
  •          trend toward a more balanced market.
  • Mortgage rates are at their highest level since the Great Recession, according to data released by Freddie Mac Thursday, as housing affordability continues to slump.
  • The 30-year fixed mortgage rate is now 5.89%, according to Freddie Mac, up from 5.66% last week and 2.88% at this time last year.
  • Mortgage rates are now at their highest since November 2008, when Freddie Mac reported a 6.04% 30-year rate.
  • Mortgage rates have climbed as the Federal Reserve raises interest rates to tame inflation.

Surprising Fact

 The

157 Views, 0 Comments
Read Full Post

The 30-year fixed-mortgage rate topped 6% for the first time since 2008 in the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ended Sept. 9. 

Mortgage applications declined 1.2% on a seasonally adjusted basis from the previous week, the MBA said, citing its Market Composite Index, while the association’s Refinance Index slid 4% week over week and 83% year over year. 

“Higher mortgage rates have pushed refinance activity down more than 80% from last year and have contributed to more homebuyers staying on the sidelines,” MBA associate vice president of economic and industry forecasting Joel Kan said in a press release. “Government loans, which tend to be favored by first-time buyers, bucked this trend and increased

453 Views, 0 Comments
Read Full Post