resources
Weekend Update: Rates Dropped! What Impact Will This Have on Demand?
Good afternoon and happy Friday! This week's main video is more of a GIF, which is nice because that means: 1). it's short and 2). you don't have to listen to me talk. Rates had a *sizable* drop this week driven by lower than expected treasury issuance (with more focus on shorter terms), statements from the FED that they'll allow natural runoff from their balance sheet, and job reports that weren't "bad", but not as favorable as expected (which in the fun world of mortgages, usually helps rates). The flip side of lower rates: *a lot* of households can get priced back into the market. Keep in mind, these are households who at one point over the last couple of years could afford to buy a home, for one reason or another they did not, then found themselves on the outside looking in when rates hit 8%. Buying a home wasn't even an option. As rates drop, it becomes an option again. Time will tell how many of them jump back into the housing market, but this is a dynamic worth noting and relaying to potential buyers who can afford to buy now. Rates dropping leads to more competition, which can potentially put upward pressure on prices. This weeks featured videos in the sidebar: - How Mortgage Rates Work - Is Now a Good Time to Buy in Oregon? - Are There Tax Benefits to Buying a Home in This Rate Environment? - Should You Wait for Interest Rates to Drop Before Buying a House? Also including an accompanying infographic for the last video: what higher interest rates have done to buyer demand (and what to expect if rates reverse). For more information on what's driving the mortgage rate environment (and what to look for moving forward), visit this page:https://www.gavinhamiltonloaninfo.com/resource/94741/ For more information on what's driving home prices, visit this page:https://www.gavinhamiltonloaninfo.com/resource/99201/ Please contact me any time this weekend if I can be of any assistance! (310) 422-4731 (call or text)
What’s actually happening with housing prices?
Feeling confused about what's happening to housing prices? You're not alone, there are multiple pricing metrics and *a lot* of conflicting information out there. This page explains: - The differences in reporting metrics (and how they're calculated) - An overview of what "housing crashers" need to happen in order for prices to drop - A snapshot of the new construction market (& addressing the question about whether or not that will over-saturate the housing market) - Why inventory remains low (& why it's supporting prices) - Why housing experts say this market is nothing like 2008's Excerpts from posts athttp://www.mortgagereels.com: "With all the talk about a possible recession a common question we’re getting is what impact that would have on housing prices. The assumption most people make is that a recession will lead to a housing crash, due to their memories of the Housing Crisis of 2008-2009. But if you look back over time 2008 was very much an outlier compared to other recessions – in most cases the housing market remained flat or even slightly appreciated during recessionary periods..." (full article with infographics here:http://mortgagereels.com/2022/08/27/what-happens-to-housing-prices-in-recessions-and-what-happened-in-2008/) "We’re going to gloss over the 'fuzzy math' in the above tweet and focus on the question at hand: why did homeowners walk away in 2008, and would that same thinking cause homeowners to walk away if values dropped again? To start this off, it’s important to understand that values alone didn’t cause homeowners to walk away in 2008. Check out the first couple paragraphs from this article from February 2008...Like everything related to 2008, there’s a lot to unpack here. But in a few short sentences, it mentions three times the trigger to consider walking away was that the payments were about to spike..." (full article with infographics here:http://mortgagereels.com/2022/09/15/revisiting-2008-the-housing-crash-started-because-of-payments-not-prices/) For additional information call or text me at (310) 422-4731 or click the link below to register for upcoming free 15 minute webinars on this topic and a variety of others Gavin Upcoming Webinar Link:https://www.gavinhamiltonloaninfo.com/resource/99538/ Additional Resources:https://www.gavinhamiltonloaninfo.com/resources/
Bought a home in 2021 or 2022 with FHA or VA loans and concerned about your equity position? Here’s what is happening with housing prices (and some details about FHA/VA loans you should know)
Bought a home recently and concerned about your current equity position? With rates increasing and sales activity slowing over the past several months, many headlines have been dedicated to pointing out the potential dangers recent homebuyers face with the prospect of declining values. While being *aware* of these concerns is necessary as a homeowner, it is also important to fully understand what data to consider, what options you have as a homeowner, and use that information to make a strategic decision based on your own financial scenario. Included here are a few one-minute videos outlining: - A 5% Drop in Home Prices Could Put 200,000 Homeowners Underwater on Their Mortgage: Who Does This Impact (& What Protections Do They Have in Place)? - What Is a FHA 40 Year Loan Modification? - Why Is Inventory So Low (& Why Are Prices Remaining Stable)? - Are Home Prices Dropping, Rising, or Staying Flat? - Why Is This Market Nothing Like 2008? For more information, click the link below for future 15 minute webinars, or call/text me directly at (310) 422-4731. Upcoming Webinars:https://www.gavinhamiltonloaninfo.com/resource/99538/ Additional Resources:https://linktr.ee/gavinhamilton
What is APR? Why is my Credit Karma Score different than my FICO? Is mortgage interest “front-loaded”? Are there tax benefits to buying a home? Am I getting in at the peak of the market like 2008?
Are you thinking about buying a house and know you have a lot of questions...but don't know where to start? This page has a variety of one-minute mortgage & finance videos outlining many common questions from many buyers. Included are: - What Is APR and How Do I Use It? - How Compound Interest Works (& the Benefits of Investing Early) - Why Is My Credit Karma Score Different Than My FICO? - Is Interest Front-Loaded on Mortgages? - Why Housing Experts Say This Housing Market is Nothing Like 2008 For more information, click the link below for future 15 minute webinars, or call/text me directly at (310) 422-4731. Upcoming Webinars:https://www.gavinhamiltonloaninfo.com/resource/99538/ Additional Resources:https://linktr.ee/gavinhamilton
Is Now a Good Time To Buy a Home?
These are a series of one minute videos showing information on a variety of topics surrounding homeownership, specifically in the Pacific Northwest. These attempt to address homebuyer trends in Oregon, the current rate environment, what to expect from the rate environment going forward & what impact all of these could have on prices. Videos included are: - Is Now a Good Time To Buy in Oregon? - Should You Wait For Rates to Drop Before Buying a House? - In The Current Rate Environment What Are the Tax Benefits to Buying a Home? - Waiting for Rates to Drop Before Buying? Here Are 3 Reasons You May Want to Reconsider - Why Do So Many Forecasters Believe Mortgage Rates Will Drop? Obviously, the decision to buy a home depends on individual circumstances, and it may not be for everyone. To get more information to see if it's the right move for you, click the link below for future 15 minute webinars, or call/text me directly at (310) 422-4731. Upcoming Webinars:https://www.gavinhamiltonloaninfo.com/resource/99538/ Additional Resources:https://linktr.ee/gavinhamilton
What’s happening to home prices? How can you access your equity without selling? Can you buy a new home before selling your current one?
What's happening to home prices? How can you access your equity without selling? Can you buy a new home before selling your current one? Here you'll find: - 1 minute market update videos - Flyers for programs with current homeowners with lots of equity - Links to additional resources To get more information to see if it's the right move for you, click the link below for future 15 minute webinars, or call/text me directly at (310) 422-4731. Upcoming Webinars:https://www.gavinhamiltonloaninfo.com/resource/99538/ Additional Resources:https://linktr.ee/gavinhamilton
How Do Interest Rates Work & Why Are They So High Right Now?
Seriously. What's going on with mortgage rates? Going in to 2022, mortgage rates were around 3%. In the past year they've hovered around 7%.These page covers:- What's Happening Now- Why Rates Initially Spiked- How to use past data to understand expectations moving forwardExcerpt from post athttp://www.mortgagereels.com"Mortgage rates have not been cool over the past year. An underrated element of this though is that rates are actually worse than they should be. In the mortgage world, BondMarketBoys™ look to the 10 Year Treasury as a gauge for what mortgage rates should be. Going back 40 years, the historical spread between the 10 Year Treasury and 30 Year Fixed Mortgage averages between 1.75% and 2.00%. In 2022 that spread has widened to near all-time highs, hitting 3.00%. Even with inflation moderating late in the year and mortgage rates slowly coming down, that high spread remains. So…what gives?..." (To view this whole blog post with infographics, click here:https://mortgagereels.com/2023/10/13/mortgage-rates-are-up-more-than-they-should-be-what-gives/)To get more information to see if it's the right move for you, click the link below for future 15 minute webinars, or call/text me directly at (310) 422-4731.Upcoming Webinars:https://www.gavinhamiltonloaninfo.com/resource/99538/Additional Resources:https://linktr.ee/gavinhamilton