Housing Rates 🏡

Table of Contents

Housing Rates

A good housing market is good for the economy, except for when it’s bubbly. The housing market has been performing amazingly well, something we haven’t seen since the mid-2000s. That housing market ended in a bubble, which burst, but this one has been a lot more natural and healthier. Homeowners had a great 2021, but things could be different this year with rates being more involved now.

Here, we aren’t only talking about interest rates, but mortgage rates too. In December, mortgage rates rose to the highest level since May of 2020, with the average rate for a 30-year fixed-rate loan sitting at 3.22 percent, which is a 0.11 increase from last month. With low interest rates, buyers were able to borrow more money to purchase homes, which is shown in the 13.9 percent increase in existing home prices to $353,900. With interest rates on a possible rise, mortgage rates are set to follow, according to analyst Ivy Zelman. Zelman also said that homeowners are locking in mortgage rates below 4 percent as anything higher would be a killer, and this is expected to sustain according to data from the NAR. Unfortunately, this prevents more homeowners from refinancing their homes as they won’t want to restructure their contract with higher rates, but economists expect this to affect non-bank lenders as banks have stepped away from mortgages after 2008. Overall, the rise in mortgage rates will lead to a slight slowdown in the housing market, but it’s still expected to grow, which could continue to benefit homeowners across the country. What’s your take on the housing market currently?

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:
More Posts
Higher Rate Households 📈
27 September, 2023

The recent Fed decision to pause rates has left the federal funds rate at its highest level since 2000.

Load More
Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Facebook Twitter Youtube Instagram Snapchat Tiktok
learn
products
plan
Who we are
blog

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.