{"id":23705,"date":"2024-06-12T14:19:58","date_gmt":"2024-06-12T14:19:58","guid":{"rendered":"https:\/\/www.anthonydidonato.net\/wordpress\/?p=23705"},"modified":"2024-06-12T14:20:00","modified_gmt":"2024-06-12T14:20:00","slug":"rising-rates-may-spark-buying-spree-2","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/rising-rates-may-spark-buying-spree-2\/","title":{"rendered":"Rising Rates May Spark Buying Spree"},"content":{"rendered":"\n<p>The fear of missing out, or \u201cFOMO\u201d as it\u2019s called on social media, could prove to be a strong motivation for potential home buyers to enter the market quickly as mortgage rates rise. The potential loss of homebuying power may \u201csupercharge the housing market ahead of the spring homebuying season,\u201d says Mark Fleming, chief economist at First American Financial Corp., in a recent analysis.<\/p>\n\n\n\n<p>The average 30-year fixed-rate mortgage has climbed by about 50 basis points in the first weeks of the year. Last week, <a href=\"https:\/\/www.nar.realtor\/magazine\/real-estate-news\/economy\/mortgage-rates-surge-for-third-consecutive-week\" target=\"_blank\" rel=\"noreferrer noopener\">rates averaged 3.56%,<\/a> up from 2.77% a year ago, Freddie Mac reports.<\/p>\n\n\n\n<p>The Federal Reserve has signaled an end to ultra-low rates, which observers expect to start climbing as soon as March. Mortgage rates tend to follow long-term bond yields, which also are expected to increase due to the Fed\u2019s tightening of its monetary policy and its efforts to control inflation.<\/p>\n\n\n\n<p>Economists foresee a 30-year fixed mortgage rate of 3.7% by the end of 2022, according to the National Association of REALTORS\u00ae. That still reflects a historically low rate but is well above what buyers have grown accustomed to in recent years.<\/p>\n\n\n\n<p>\u201cWhen mortgage rates increase, holding income constant, consumer house-buying power decreases,\u201d Fleming says.<\/p>\n\n\n\n<p>A scenario Fleming offers suggests that if the average mortgage rate stayed at its current level of about 3.5% through the spring homebuying season, assuming a 5% down payment and holding average household income constant at the November 2021 level of $69,800, homebuying power would fall by about $25,000. If rates increase to 3.7% by the end of 2022, however, homebuying power would drop by $36,000 compared to November 2021, while if mortgage rates reach 4%, homebuying power would fall by nearly $52,000.<\/p>\n\n\n\n<p>\u201cRising mortgage rates impact affordability, but one of the root causes of rising mortgage rates is an improving economy, and an improving economy often leads to stronger wage growth,\u201d he says. If incomes continue to increase at the current rate through the end of 2022, income growth could reduce the projected decline in homebuying power this year to a less severe $700 instead of $36,000, Fleming says.<\/p>\n\n\n\n<p>National Association of REALTORS\u00ae<br \/>Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The fear of missing out, or \u201cFOMO\u201d as it\u2019s called on social media, could prove to be a strong motivation for potential home buyers to enter the market quickly as mortgage rates rise. The potential loss of homebuying power may \u201csupercharge the housing market ahead of the spring homebuying season,\u201d says Mark Fleming, chief economist &hellip; <\/p>\n<p><a class=\"more-link btn\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/rising-rates-may-spark-buying-spree-2\/\">Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-23705","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rising Rates May Spark Buying Spree - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/rising-rates-may-spark-buying-spree-2\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/rising-rates-may-spark-buying-spree-2\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/rising-rates-may-spark-buying-spree-2\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Rising Rates May Spark Buying Spree\",\"datePublished\":\"2024-06-12T14:19:58+00:00\",\"dateModified\":\"2024-06-12T14:20:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/rising-rates-may-spark-buying-spree-2\\\/\"},\"wordCount\":346,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/rising-rates-may-spark-buying-spree-2\\\/\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/rising-rates-may-spark-buying-spree-2\\\/\",\"name\":\"Rising Rates May Spark Buying Spree - 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Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania\u2026 call Anthony DiDonato.\",\"sameAs\":[\"http:\\\/\\\/www.anthonydidonato.net\"],\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Rising Rates May Spark Buying Spree - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"http:\/\/www.anthonydidonato.net\/wordpress\/rising-rates-may-spark-buying-spree-2\/","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/rising-rates-may-spark-buying-spree-2\/#article","isPartOf":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/rising-rates-may-spark-buying-spree-2\/"},"author":{"name":"admin","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"headline":"Rising Rates May Spark Buying Spree","datePublished":"2024-06-12T14:19:58+00:00","dateModified":"2024-06-12T14:20:00+00:00","mainEntityOfPage":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/rising-rates-may-spark-buying-spree-2\/"},"wordCount":346,"publisher":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"keywords":["Anthony DiDonato","News","Real Estate","tips"],"articleSection":["News","Real Estate Tips"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/rising-rates-may-spark-buying-spree-2\/","url":"http:\/\/www.anthonydidonato.net\/wordpress\/rising-rates-may-spark-buying-spree-2\/","name":"Rising Rates May Spark Buying Spree - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","isPartOf":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#website"},"datePublished":"2024-06-12T14:19:58+00:00","dateModified":"2024-06-12T14:20:00+00:00","breadcrumb":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/rising-rates-may-spark-buying-spree-2\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["http:\/\/www.anthonydidonato.net\/wordpress\/rising-rates-may-spark-buying-spree-2\/"]}]},{"@type":"BreadcrumbList","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/rising-rates-may-spark-buying-spree-2\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"http:\/\/www.anthonydidonato.net\/wordpress\/"},{"@type":"ListItem","position":2,"name":"Rising Rates May Spark Buying Spree"}]},{"@type":"WebSite","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#website","url":"http:\/\/www.anthonydidonato.net\/wordpress\/","name":"Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","description":"Properties and Real Estate for Sale","publisher":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"http:\/\/www.anthonydidonato.net\/wordpress\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","url":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","contentUrl":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","caption":"admin"},"logo":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg"},"description":"For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. 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