Borrowing costs tick up again as the Federal Reserve’s inflation policy has economists bracing for even higher rates in the future. Mortgage rates are showing volatility as the economy slows and recession fears take center stage. The 30-year fixed-rate mortgage rose to an average of 5.51% this week, up from 5.3% last week, according to …
Tag: Anthony DiDonato
Feb 28
New Listing Broomall Home – 79 2nd Ave, Broomall, PA. 19008
79 2nd Ave, Broomall, PA. 19008 Listing courtesy of Richard Diprimio – Keller Williams Real Estate – West Chester $405,000 Est. Mortgage $2,803/mo*3 Beds2 Baths1250 Sq. Ft. Description about this home for sale at 79 2nd Ave, Broomall, PA. 19008 Welcome to 79 2nd Avenue in Broomall! This well maintained, 3 bed, 2 bath home …
Feb 27
Mortgage Rates Rise
The Federal Reserve is expected to raise its key benchmark rate this coming week. What impact could it have on mortgage rates? Mortgage rates rose slightly this week ahead of the Federal Reserve’s highly anticipated meeting next Tuesday, when it is expected to increase its benchmark rate by up to a full percentage point. What …
Feb 27
Inching Closer to Recession
The next downturn may be different than the last. Look to commercial real estate for clues about the direction of the economy. The U.S. gross domestic product contracted in the first quarter by 1.5%. The stock market has been tumbling. Inflation is stubbornly high. The Federal Reserve plans to continue raising interest rates. Pending home …
Feb 27
Jersey Shore / Sea Isle City Home – 3500 Boardwalk #924 N, Sea Isle City, NJ. 08243
3500 Boardwalk #924 N, Sea Isle City, NJ. 08243 Listing courtesy of Jennifer Denunzio – SEA ISLE REALTY $829,000 Est. Mortgage $5,971/mo*2 Beds2 Baths1050 Sq. Ft. Description about this home for sale at 3500 Boardwalk #924 N, Sea Isle City, NJ. 08243 Penthouse in the North Tower! Welcome to “The Spinnaker” condominium building, one of …
Feb 26
Dip in Mortgage Rates Little Consolation to Squeezed Buyers
Record-high home prices, declining consumer confidence and fears of recession are taking their toll on aspiring homeowners. With volatile mortgage rates driving home buyers from the market, economists are skeptical that a dip in borrowing costs this week will have a meaningful impact. The 30-year fixed-rate mortgage fell to an average of 5.3%—still nearly double …
Feb 26
Sea Isle City Home – 333 E 39th St. #1, Sea Isle City, NJ. 08243
333 E 39th St. #1, Sea Isle City, NJ. 08243 Listing courtesy of Mary Dorman – COASTAL ELITE REALTY $1,399,999 Est. Mortgage $8,688/mo*5 Beds4 Baths1984 Sq. Ft. Description about this home for sale at 333 E 39th St. #1, Sea Isle City, NJ. 08243 Welcome to your dream beach townhome which is located in a …
Feb 26
Jersey Shore / Sea Isle Home – 365 47th PL. Sea Isle City, NJ. 08243
365 47th PL. Sea Isle City, NJ. 08243 Listing courtesy of Marie Lepera – BHHS FOX and ROACH-Brigantine $3,150,000 Est. Mortgage $19,455/mo*Studio Description about this home for sale at 365 47th PL. Sea Isle City, NJ. 08243 NEW BAYFRONT BUILD-OUT OPPORTUNITY! Build your dream single family home or side-by-side townhome on this highly desirable lot …
Feb 23
Fed Rate Hike Unlikely to ‘Further Damage’ Mortgage Borrowers
The market has mostly priced in current and future Fed actions, so mortgage rates shouldn’t rise dramatically, says NAR Chief Economist Lawrence Yun. With skyrocketing inflation and mounting recession fears, the Federal Reserve made another aggressive move Wednesday, raising its benchmark rate by three-quarters of a percentage point for the second time this year to …
Feb 23
Market to Ease Despite High Home Prices
A housing slowdown precipitated by low inventory and rising mortgage rates will open opportunities for some buyers, NAR Chief Economist Lawrence Yun predicts. Even though national GDP contracted for the second quarter in a row and home sales have fallen for five straight months, property prices are likely to continue growing because of low inventory, …
Feb 23
Delco / Broomall Home – 20 Selwyn Dr. Broomall, PA. 19008
20 Selwyn Dr. Broomall, PA. 19008 Listing courtesy of Stephen Tallon – KW Greater West Chester $650,000 Est. Mortgage $4,529/mo*4 Beds3 Baths2426 Sq. Ft. Description about this home for sale at 20 Selwyn Dr. Broomall, PA. 19008 Welcome to 20 Selwyn Dr! Take advantage of the opportunity to make this colonial in a great sought …
Feb 22
Economic Downturn Likely to Be Mild
A contracting economy typically means a recession, but other economic indicators are likely to mitigate the effects of the slowing economy, says NAR’s chief economist. The country isn’t officially in a recession yet, despite two consecutive quarters of national contraction of the gross domestic product, a commonly cited indicator of an economic downturn, says Lawrence …
