Consumers can expect higher borrowing costs across the board after the Federal Reserve announced it would raise its short-term benchmark rate for the first time in three years, financial analysts say. The Fed increased its target federal funds rate by a quarter of a percentage point Wednesday after it had been near zero. The central …
Tag: Real Estate
May 13
Mortgage Rates Continue to Climb
As mortgage rates rise, levels below 4% for the most popular 30-year fixed-rate mortgage are likely to remain in the rearview mirror. The 30-year fixed-rate mortgage averaged 4.16% this week, Freddie Mac reports. “The 30-year fixed-rate mortgage exceeded 4% for the first time since May of 2019,” says Sam Khater, Freddie Mac’s chief economist. “The …
May 13
Phillies Legend Mike Schmidt’s Delco Home Listed For $3.8 Million
MEDIA, PA — If you’ve got deep enough pockets, you could own the former home of Philadelphia Phillies legend Mike Schmidt. Listing Courtesy of Lynise Caruso Schmidt’s former home in Media is up for sale for a cool $3.79 million. The 24 Lakewood Drive property in Media is 12,008 square feet on just over 3 …
May 10
More Homeowners Cashing In on Their Equity
Despite increasing equity, fewer homeowners are taking out home equity lines of credit. A March 18 report from ATTOM Data Solutions shows the number of HELOCs issued in the fourth quarter of 2021 was down 5.5% from the previous quarter, and 4.2% below the level issued in the fourth quarter of 2020. HELOC mortgage originations fell …
May 09
110 58th St. Sea Isle City, NJ. 08243 – Jersey Shore Vacation Home.
110 58th St. Sea Isle City, NJ. 08243 $2,300,000 Est. Mortgage $14,225/mo*5 Beds6 Baths Listing courtesy of Juliana Marie Renteria – OCEAN VIEW REALTY Description about this home for sale at 110 58th St. Sea Isle City, NJ. 08243 Welcome to coastal luxury living at its finest. This brand new 5/6-bedroom, 5.1-bathroom townhome, meticulously crafted …
May 09
Rates Doing Little to Help First-Timers
Higher home prices are overshadowing potential savings from historically low mortgage rates, according to a new analysis by CoreLogic, a real estate research firm. “[The] 2020–2021 pandemic housing market recorded the fastest annual home price appreciation in the 45-year history of the index,” Yanling Mayer, principal economist for CoreLogic, writes in a March 18 analysis on …
May 07
FHA, VA Loan Demand Drops on Higher Rates
First-time buyers and veterans may be facing increasing obstacles to affording homeownership. In response, mortgage applications for home purchases involving Federal Housing Administration and Veterans Affairs loans are falling. The loans tend to be popular with first-time buyers, veterans, and those with lower incomes less able to pay a large down payment for a home purchase. …
May 07
28 89th St. Sea Isle City, NJ. 08243 – Jersey Shore Home
28 89th St. Sea Isle City, NJ. 08243 Listing courtesy of Susan Giordano – LONG & FOSTER REAL ESTATE, INC sic $3,495,000 Est. Mortgage $21,503/mo*4 beds2 baths Description about this home for sale at 28 89th St. Sea Isle City, NJ. 08243 ONE FROM THE BEACH-Seize the chance to experience coastal living at its finest …
May 07
235 85th St. Sea Isle City, NJ. 08243 – Jersey Shore Vacation Home.
235 85th St. Sea Isle City, NJ. 08243 Listing courtesy of Larry D. Baker – SEA ISLE REALTY $2,895,000 Est. Mortgage $17,824/mo*5 Beds5 Baths3200 Sq. Ft. Description about this home for sale at 235 85th St. Sea Isle City, NJ. 08243 This SPECTACULAR, 5-bedroom, 4 full bathroom, and one powder room home is located in …
May 07
Mortgage Rates Surge
Elevated inflation and the Federal Reserve’s monetary tightening policy drove the latest leap in mortgage rates this week. Since the beginning of this year, mortgage rates have jumped by 1.2%. The typical home buyer would need to spend $250 more every month to be able to purchase a home, Nadia Evangelou, senior economist and director …
May 06
Some Owners Turn to Cash-Out Refinances
Some homeowners are turning to the equity in their current home to fund their next real estate transaction. But the move isn’t without risks. Most homeowners who bought a home before 2020 have seen rapid appreciation and rising equity in their homes. A cash-out refinance is allowing them to use that equity to help fund their …
May 06
2235 Windsor Cir, Broomall, PA. 19008 – Delco Home for sale.
2235 Windsor Cir, Broomall, PA. 19008 Listing courtesy of Donna May Bond – Long & Foster Real Estate, Inc. $1,075,000 Est. Mortgage $7,335/mo*4 Beds3 Baths3350 Sq. Ft. Description about this home for sale at 2235 Windsor Cir, Broomall, PA. 19008 Welcome to 2235 Windsor Circle, where modern luxury meets classic charm in the heart of …
