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Channel Markers & Mileposts -- Navigating the Way Blog

Wednesday, September 18, 2024   /   by Julie Morgan

For those in the market for a new home ~ Mortgage Rates Have Dropped

Mortgage Rates Drop to Lowest Level in over a Year and a Half

Mortgage rates have hit their lowest point in over a year and a half. And that’s big news if you’ve been sitting on the homebuying sidelines waiting for this moment.
Even a small decline in rates could help you get a better monthly payment than you would expect on your next home. And the drop that’s happened recently isn’t small. As Sam Khater, Chief Economist at Freddie Mac, says:
“Mortgage rates have fallen more than half a percent . . . and are at their lowest level since February 2023.”
But if you want to see it to really believe it, here’s how the math shakes out. Take a closer look at the impact on your monthly payment.
The chart below shows what a monthly payment (principal and interest) would look like on a $400K home loan if you purchased a house back in April (this year’s mortgage rate high), versus what it could look like if you buy a home now (see below). ...

  real estate, swfl, buying, home buyers, southwest florida living, sellers, latitude group, vacation home, retirement, naples, premiere plus realty

Monday, February 12, 2024   /   by Julie Morgan

What’s Really Happening with Mortgage Rates?

Are you feeling a bit unsure about what’s really happening with mortgage rates? That might be because you’ve heard someone say they’re coming down. But then you read somewhere else that they’re up again. And that may leave you scratching your head and wondering what’s true.

The simplest answer is: that what you read or hear will vary based on the time frame they’re looking at. Here’s some information that can help clear up the confusion.


Mortgage Rates Are Volatile by Nature

Mortgage rates don’t move in a straight line. There are too many factors at play for that to happen. Instead, rates bounce around because they’re impacted by things like economic conditions, decisions from the Federal Reserve, and so much more. That means they might be up one day and down the next depending on what’s going on in the economy and the world as a whole.

Take a look at the graph below. It uses data from Mortgag; ...

  real estate, swfl, buying, home buyers, vacation home

Monday, December 18, 2023   /   by Julie Morgan

If your home hasn't sold yet, this could by why!

If Your House Hasn’t Sold Yet, It May Be Overpriced

Has your house been sitting on the market a while without selling? If so, you should know that’s pretty unusual, especially right now. That’s because the supply of homes available for sale is still far lower than what we’d see in a normal year. That means buyers have fewer options than they usually would, so your house should be an oasis in an inventory desert.

So, if homebuyers have limited choices and your house still hasn’t sold, there’s a reason why. Let’s break one potential sticking point that may be turning buyers away: your asking price.

Especially with today’s higher mortgage rates already putting a stretch on their budget, buyers are being a bit more sensitive about price. As a recent article from the Wall Street Journal (WSJ) says:

“If you are serious about selling your home now, don’t get ! ...

Sunday, October 22, 2023   /   by Julie Morgan

Are Higher Mortgage Rates Here To Stay?

Are Higher Mortgage Rates Here To Stay?
Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over two decades (see graph below):  

That can feel like a little bit of a gut punch if you’re thinking about making a move. If you’re wondering whether or not you should delay your plans, here’s what you really need to know.   
How Higher Mortgage Rates Impact You  
There’s no denying mortgage rates are higher right now than they were in recent years. And, when rates are up, that affects overall home affordability. It works like this. The higher the rate, the more expensive it is to borrow money when you buy a home. That’s because, as rates trend up, your monthly mortgage payment for your future home loan also ; ...

Tuesday, October 10, 2023   /   by Julie Morgan

Key Skills You Need Your Listing Agent To Have

Selling your house is a big decision. And that can make it feel both exciting and a little bit nerve-wracking. But the key to a successful sale is finding the perfect listing agent to work with you throughout the process. A listing agent, also known as a seller's agent, helps market and sell your house while advocating for you every step of the way.
But, how do you know you've found the perfect match in an agent? Here are three key skills you’ll want your listing agent to have.
They Price Your House Based on the Latest Data
While it may be tempting to pick the agent who suggests the highest asking price for your house, that strategy may cost you. It’s easy to get caught up in the excitement when you see a bigger number, but overpricing your house can have consequences. It could mean it’ll sit on the market longer because the higher price is actually deterring buyers.
Instead, you want to pick an agent who’s going to have an open conversati. ...

  real estate, swfl, buying, southwest florida living, sellers, latitude group

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2024 Royal Palm Coast REALTOR® Association. All rights reserved. Information has not been verified, is not guaranteed, and is subject to change. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) of the Florida Gulf Coast Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than Kevin O'Reilly/David Lawrence - Latitude RE Group IDX logo and detailed information about them includes the name of the listing brokers. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Last Updated: 12/13/2024 4:31 PM CST
The data relating to real estate for sale on this limited electronic display comes in part from the Southwest Florida Multiple Listing Services. Properties listed with brokerage firms other than Kevin O'Reilly/David Lawrence - Latitude RE Group are marked with the BR Program Icon or the BR House Icon and detailed information about them includes the name of the Listing Brokers. The properties displayed may not be all the properties available through the BR Program. The source of this real property information is the copyrighted and proprietary database compilation of the participating Southwest Florida MLS organizations and is Copyright 2017 Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. Some properties that appear for sale on this limited electronic display may no longer be available. For the most current information, contact Kevin O'Reilly/David Lawrence - Latitude RE Group Data last updated 12/13/2024 4:31 PM CST.
The source of this real property information is the copyrighted and proprietary database compilation of the Southwest Florida MLS organizations Copyright 2024. Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification.
mls logo© 2024 My Florida Regional MLS DBA Stellar MLS, Inc.. All rights reserved. The data relating to real estate displayed on this website comes in part from the Internet Data Exchange (IDX) Program of My Florida Regional MLS DBA Stellar MLS, Inc. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers' personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law.12/13/2024 4:31 PM CST
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