Remove 10 27 freddie-mac-mortgage-interest-rate-hits-20-year-high
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Mostly Positive Start to 2024 Housing Activity in Seattle/King County

Will Springer Realtor

The number of newly listed homes more than doubled from December and increased moderately compared with the same time last year, according to data from the Northwest Multiple Listing Service (MLS). The final months of 2023 were among the quietest periods in recent memory for residential real estate amid a slow year overall.

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Affordability Woes Prompt Historic Housing Slowdown

Will Springer Realtor

From health-care and auto workers – even Hollywood actors – Americans have hit the picket lines in greater numbers in 2023. At least 453,000 workers participated in strikes in the first nine months of the year, according to one tracker. decline in a month and off 23% year-on-year (YoY). for the year. Among all U.S.

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REAL ESTATE SETTLEMENT WILL UNSETTLE BUYERS

Will Springer Realtor

One, who may have a connection to a federal mortgage guarantor named here, enlightened me about some data: The average homeowners insurance premium for a single-family home using a Freddie Mac-backed mortgage paid 41% more in 2022 than in 2018 ($1522 vs. $1081). The average mortgage holder paid $4.90

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FED’S ACTIONS TAKE STEAM OUT OF HOUSING MARKET

Will Springer Realtor

At what point will mortgage interest rates peak? Seriously though, there must be a ceiling to rising rates that have all but extinguished a robust housing market. While investors of mortgaged securities help dictate their interest rates, the Federal Reserve is behind the scenes influencing the overall lending environment.

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HOME BUYERS FACING ‘TRIPLE-WHAMMY’ EFFECT

Will Springer Realtor

The affordability question is becoming more difficult to justify too, as home prices and interest rates rise amid other challenges facing buyers.“That’s That’s a triple whammy hitting potential homebuyers,” notes Len Kiefer, deputy chief economist at Freddie Mac, which buys many of our mortgage loans from lenders.

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PARKING AND THE IMPACT ON CLIMATE CHANGE

Will Springer Realtor

Last summer, we experienced record-high temperatures – and hundreds of fatalities – across the PNW. It is high time we reverse our lust for personal vehicles and excessive parking or the results will likely be more costly and more deadly. THE IMPACT OF SURGING RATES. soaring interest rates (bad!)

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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

Amazon alone is promising to fill 25,000 positions east of Lake Washington in the next few years. Overall, some 40,000 new positions are earmarked for the Eastside in the coming years. That is said to exceed the total commercial area for the downtown core from 20 years ago – by 1.6 million sq. million sq. million sq.