{"id":20634,"date":"2022-06-16T13:15:48","date_gmt":"2022-06-16T13:15:48","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=20634"},"modified":"2022-06-16T13:15:50","modified_gmt":"2022-06-16T13:15:50","slug":"buyers-pause-amid-rising-rates","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/buyers-pause-amid-rising-rates\/","title":{"rendered":"Buyers Pause Amid Rising Rates"},"content":{"rendered":"\n<p>Buyers Pause Amid Rising Rates<\/p>\n\n\n\n<p>Some home buyers are backing away from the market, with a plan to wait six or even 12 months before they resume their search, according to a new survey of 900 real estate professionals conducted by HomeLight. About 35% of real estate professionals reported that they have seen buyers drop out of the market completely.<\/p>\n\n\n\n<p><a href=\"https:\/\/magazine.realtor\/daily-news\/2022\/06\/10\/mortgage-rates-back-on-the-rise-again-this-week\" target=\"_blank\" rel=\"noreferrer noopener\">Higher mortgage rates<\/a> have buyers spooked. The 30-year fixed-rate mortgage averaged 5.23% this week, compared to 2.96% just a year ago, according to Freddie Mac.<\/p>\n\n\n\n<p>Recent surveys confirm buyers\u2019 hesitation: <a href=\"https:\/\/magazine.realtor\/daily-news\/2022\/06\/09\/mortgage-demand-plummets-to-22-year-low\" target=\"_blank\" rel=\"noreferrer noopener\">Mortgage applications recently dropped to the lowest level in 22 years<\/a>, according to the Mortgage Bankers Association. Also, existing-home sales in April fell for the third consecutive month, according to the National Association of REALTORS\u00ae.<\/p>\n\n\n\n<p>Does the departure of so many buyers position the housing market for a collapse similar to 15 years ago? \u201cI would probably say no, in part because incomes are strong and there\u2019s still a shortage of inventory,\u201d Michael Neal, a principal research associate in the Housing Finance Policy Center at the Urban Institute, told MarketWatch.<\/p>\n\n\n\n<p><strong>Mortgage Rates Add to Costs<\/strong><\/p>\n\n\n\n<p>Some aspiring buyers may need to financially regroup before heading back into the housing market, due to <a href=\"https:\/\/magazine.realtor\/daily-news\/2022\/05\/03\/us-metros-see-major-price-appreciation\" target=\"_blank\" rel=\"noreferrer noopener\">rising home prices<\/a> and mortgage rates. Climbing mortgage rates have caused new monthly mortgage payments to increase by an average of $258.57, or $3,102.84 per year, according to a survey released in May from LendingTree. LendingTree calculated the difference between average monthly mortgage payments of a 30-year fixed-rate loan in each state based on average annual percentage rates in January and April 2022. It found that mortgage payments have risen the most in California, Washington and Massachusetts. Mortgage payments have increased the least in Ohio, West Virginia and Kentucky, the study found.<\/p>\n\n\n\n<p>\u00a0<\/p>\n\n\n\n<p>Source:&nbsp;<\/p>\n\n\n\n<p>\u201c<a rel=\"noreferrer noopener\" href=\"https:\/\/www.marketwatch.com\/story\/all-of-this-points-to-a-broader-weakness-in-the-housing-market-buyers-are-officially-spooked-by-rising-interest-rates-just-dont-expect-a-real-estate-crash-11654795536?rss=1&amp;siteid=rss\" target=\"_blank\">\u2018All of This Points to a Broader Weakness in the Housing Market\u2019: Buyers Are Officially Spooked by Rising Interest Rates\u2014Just Don\u2019t Expect a Real Estate Crash<\/a>,\u201d MarketWatch (June 9, 2022)<\/p>\n\n\n\n<p>\u00a9National Association of REALTORS\u00ae <br \/>Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Buyers Pause Amid Rising Rates Some home buyers are backing away from the market, with a plan to wait six or even 12 months before they resume their search, according to a new survey of 900 real estate professionals conducted by HomeLight. About 35% of real estate professionals reported that they have seen buyers drop &hellip; <\/p>\n<p><a class=\"more-link btn\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/buyers-pause-amid-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-20634","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 Pause Amid 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-pause-amid-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-pause-amid-rising-rates\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-pause-amid-rising-rates\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Buyers Pause Amid Rising Rates\",\"datePublished\":\"2022-06-16T13:15:48+00:00\",\"dateModified\":\"2022-06-16T13:15:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-pause-amid-rising-rates\\\/\"},\"wordCount\":329,\"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-pause-amid-rising-rates\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-pause-amid-rising-rates\\\/\",\"name\":\"Buyers Pause Amid Rising Rates - 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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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