Call Now: 954-444-8686

Homes of Parkland by Rusty Hanna

Call Now: 954-444-8686

Homes of Parkland by Rusty Hanna
Homes of Parkland by Rusty Hanna

Call Now: 954-444-8686

Blog2023-06-09T00:01:05-04:00

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Understanding Mortgage Rates in 2024: What to Expect in Parkland, FL

You might have heard that mortgage rates are expected to remain higher than originally anticipated. If you're wondering why, the answer lies in the latest economic data. Here's a quick overview of what's happening with mortgage rates and what experts are predicting for the near future. Economic Factors Affecting Mortgage Rates Several economic factors influence mortgage rates, including the job market, inflation, consumer spending, and geopolitical uncertainty. The Federal Reserve (the Fed) and its decisions on monetary policy also play a role. To curb inflation and stabilize the economy, the Fed began raising the Federal Funds Rate in early 2022. While this rate affects how much banks pay to borrow money, it doesn't directly determine mortgage rates. However, mortgage rates typically respond to changes in the Federal Funds Rate, which is why we saw mortgage rates rise sharply. Despite significant progress, inflation remains stubbornly high and has even ticked up slightly over the past few months, impacting the Fed's plans. As Sam Khater, Chief Economist at Freddie Mac, explains: "Strong incoming economic and inflation data has caused the market to re-evaluate the path of monetary policy, leading to higher mortgage rates." In other words, inflation's impact on the broader economy is a crucial factor influencing mortgage rates moving forward. Greg McBride, [...]

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Understanding Foreclosure Headlines: Why Parkland, FL’s Housing Market Remains Stable

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If you’ve been following the news lately, you might have seen headlines claiming a rise in foreclosures. Understandably, this can cause concern, especially if you experienced the 2008 housing crash. But don't worry, the data shows that a foreclosure crisis is [...]

Homebuying Tips for Gen Z: Making Your Dream a Reality in Parkland, FL

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If you're a member of Gen Z, you might be asking yourself, "Will I ever be able to buy a home?" With rising inflation, increasing home prices, and mortgage rates to consider, it's understandable why you’d feel uncertain. But don’t lose [...]

Discover Parkland, FL: A Premier Destination for Families and Professionals

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Nestled in the serene northwest corner of Broward County, Parkland represents the quintessential blend of suburban peace and urban accessibility. This city, with its lush landscapes and community-focused lifestyle, is the ideal destination for those who value a tranquil living environment [...]

Fannie Mae & Freddie Mac Clarify Buyer Agent Commissions: Impact on Real Estate in Parkland, FL

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Navigating the real estate market in Parkland, FL, can be tricky, especially with recent changes surrounding buyer agent commissions. Fannie Mae and Freddie Mac recently clarified how seller-paid commissions affect real estate transactions. Here’s a breakdown of what this means for [...]

How Multifamily Housing Solves the Affordability Crisis in Parkland, FL

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High interest rates, fierce competition among renters and buyers, and an ongoing affordability crisis are prompting Americans to embrace multifamily housing. Learn how this trend is gaining momentum in Parkland, FL, and why it's offering a solution to the real estate [...]

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