{"id":20475,"date":"2022-05-17T11:40:31","date_gmt":"2022-05-17T11:40:31","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=20475"},"modified":"2022-05-17T11:40:33","modified_gmt":"2022-05-17T11:40:33","slug":"buyers-resilient-against-rising-rates","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/buyers-resilient-against-rising-rates\/","title":{"rendered":"Buyers Resilient Against Rising Rates"},"content":{"rendered":"\n<p>Buyers Resilient Against Rising Rates<\/p>\n\n\n\n<p>Mortgage rates continue to push higher, but home buyers aren\u2019t spooked. Mortgage applications for home purchases moved 5% higher last week compared to the previous week, and buyer competition remains elevated in many markets.<\/p>\n\n\n\n<p>Even as costs rise, buyers remain focused on their homeownership aspirations. The 30-year fixed-rate mortgage rose to a 5.30% average last week, up from 2.94% just a year ago, Freddie Mac reports.<\/p>\n\n\n\n<p>High inflation and the Fed\u2019s tightening policy are the main drivers behind rising rates, Nadia Evangelou, National Association of REALTORS\u00ae\u2019 senior economist and director of forecasting, writes on the association\u2019s blog.<\/p>\n\n\n\n<p>Mortgage rates have risen more than 2 percentage points since the beginning of the year. The monthly mortgage payment has increased by about $520 since the first week of January, when rates averaged 3.2%, Evangelou notes.<\/p>\n\n\n\n<p>Still, \u201chome buyers continue to show resilience even though rising mortgage rates are causing monthly payments to increase by about one-third as compared to a year ago,\u201d says Sam Khater, Freddie Mac\u2019s chief economist. \u201cSeveral factors are contributing to this dynamic, including the large wave of first-time home buyers looking to realize the dream of homeownership. In the months ahead, we expect monetary policy and inflation to discourage many consumers, weakening purchase demand and decelerating home price growth.\u201d<\/p>\n\n\n\n<p>Freddie Mac reports the following national averages with mortgage rates for the week ending May 12:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>30-year fixed-rate mortgages: averaged 5.30%, with an average 0.9 point, up from last week\u2019s 5.27% average. Last year at this time, 30-year rates averaged 2.94%.<\/li><li>15-year fixed-rate mortgages: averaged 4.48%, with an average 0.9 point, dropping from last week\u2019s 4.52% average. A year ago, 15-year rates averaged 2.26%.<\/li><li>5-year adjustable-rate mortgages: averaged 3.98%, with an average 0.3 point, rising from last week\u2019s 3.96% average. A year ago, 5-year ARMs averaged 2.59%.<\/li><\/ul>\n\n\n\n<p>Freddie Mac reports commitment rates along with average points to better reflect the total upfront cost of obtaining the mortgage. Source:\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/freddiemac.gcs-web.com\/news-releases\/news-release-details\/mortgage-rates-continue-increase-0?_ga=2.150842486.112232780.1652435853-1732159480.1652435853\" target=\"_blank\">Freddie Mac<\/a> and \u201c<a rel=\"noreferrer noopener\" href=\"https:\/\/www.nar.realtor\/blogs\/economists-outlook\/instant-reaction-mortgage-rates-may-12-2022\" target=\"_blank\">Instant Reaction: Mortgage Rates, May 12, 2022<\/a>,\u201d National Association of REALTORS\u00ae\u2019 Economists Outlook<\/p>\n\n\n\n<p>\u00a9National Association of REALTORS\u00ae<br \/>Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Buyers Resilient Against Rising Rates Mortgage rates continue to push higher, but home buyers aren\u2019t spooked. Mortgage applications for home purchases moved 5% higher last week compared to the previous week, and buyer competition remains elevated in many markets. Even as costs rise, buyers remain focused on their homeownership aspirations. The 30-year fixed-rate mortgage rose &hellip; <\/p>\n<p><a class=\"more-link btn\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/buyers-resilient-against-rising-rates\/\">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-20475","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>Buyers Resilient Against Rising Rates - 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=\"https:\/\/www.anthonydidonato.net\/wordpress\/buyers-resilient-against-rising-rates\/\" \/>\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\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-resilient-against-rising-rates\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-resilient-against-rising-rates\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Buyers Resilient Against Rising Rates\",\"datePublished\":\"2022-05-17T11:40:31+00:00\",\"dateModified\":\"2022-05-17T11:40:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-resilient-against-rising-rates\\\/\"},\"wordCount\":338,\"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\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-resilient-against-rising-rates\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-resilient-against-rising-rates\\\/\",\"name\":\"Buyers Resilient Against Rising Rates - 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\":\"2022-05-17T11:40:31+00:00\",\"dateModified\":\"2022-05-17T11:40:33+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-resilient-against-rising-rates\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-resilient-against-rising-rates\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-resilient-against-rising-rates\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Buyers Resilient Against Rising Rates\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/\",\"name\":\"Real Estate Agent and Sales in PA - 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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. 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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. 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