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Barbara's Corner Blog

Tuesday, June 23, 2020   /   by Barbara Oleska

Home Buyers Are in the Mood to Buy Today

According to the latest FreddieMac Quarterly Forecast, mortgage interest rates have fallen to historically low levels this spring and they're projected to remain low. This means there's a huge incentive for buyers who are ready to purchase. And homeowners looking for eager buyers can take advantage of this opportune time to sell as well.
There's a very positive outlook on interest rates going forward, as the projections from the FreddieMac report indicate continued lows into 2021:
Going forward, we forecast the 30-year fixed-rate mortgage to remain low, falling to a yearly average of 3.4% in 2020 and 3.2% in 2021.
With mortgage rates hovering at such compelling places, ongoing buyer interest is bound to keep driving the housing market forward. Rates also reached another record low last week, so homebuyers are in what FreddieMac is identifying as the buying mood:
While the rebound in the economy is uneven, one segment that is exhibiti. ...

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  florida real estate, boca raton real estate

Wednesday, June 10, 2020   /   by Barbara Oleska

Is a Recession Here? Yes. Does that Mean a Housing Crash? No.

On Monday, the National Bureau of Economic Research (NBER) announced that the U.S. economy is officially in a recession. This did not come as a surprise to many, as the Bureau defines a recession this way:
“A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Between trough and peak, the economy is in an expansion.”
Everyone realizes that the pandemic shut down the country earlier this year, causing a “significant decline in economic activity.”
Though not surprising, headlines announcing the country is in a recession will cause consumers to remember the devastating impact the last recession had on the housing market just over a decade ago.
The real estate market, however, is in a totally different position than it was then. As Mark Fleming, C; ...

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