Catherine St. Pierre Real Estate

Homebuyer Activity Shows Signs of Warming Up for Spring

The spring season appears to be warming up in housing as more and more buyers enter the market. And after rising mortgage rates sidelined so many buyers last year, that’s a good sign for sellers. Realtor.com has the latest:

“Spring is officially here, and like green shoots emerging from the bleak winter, new data suggests that more buyers are back in the market, although more subdued compared to a year ago.”

We know buyer activity is trending up because of mortgage purchase application data. According to Investopedia:

“A mortgage application is a document submitted to a lender when you apply for a mortgage to purchase real estate.”

That means the number of mortgage applications shows how many buyers are applying for mortgages. Put another way, an increase in mortgage applications means an increase in buyer demand – and as Joel Kan, VP and Deputy Chief E...

Homebuyer Activity Shows Signs of Warming Up for Spring The spring season appears to be warming up in housing as more and more buyers enter the market. 

The Key Advantage of Investing in a Home [INFOGRAPHIC]

Buying a home is a major way to build wealth and gain financial stability. That’s why, across different income levels, the largest part of most homeowners’ net worth is their equity. DM me so you can start investing in homeownership.

The Key Advantage of Investing in a Home [INFOGRAPHIC] Buying a home is a major way to build wealth and gain financial stability.That’s why, across different income levels, the largest part of most homeowners’ net worth is their equity.

Why Aren’t Home Prices Crashing?

There have been a lot of shifts in the housing market recently. And after several years of rapid price appreciation, home prices finally peaked last summer. These changes led to a rise in headlines saying prices would end up crashing.

Even though we’re no longer seeing the buyer frenzy that drove home values up during the pandemic, prices have been relatively flat at the national level. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), doesn’t expect that to change:

“[H]ome prices will be steady in most parts of the country with a minor change in the national median home price.”

You might think sellers would have to lower prices to attract buyers in today’s market, and that’s part of why some may have been waiting for prices to come crashing down. But there’s another factor at play – low inventory. And according to Yun, that’s limiting just how low pr...

Why Aren’t Home Prices Crashing? There have been a lot of shifts in the housing market recently.

How Changing Mortgage Rates Can Affect You

If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power.

Even a 0.5% change can have a big impact on your monthly payment. And since rates have been moving between 6% and 7% for a while now, you can see how it impacts your purchasing power as rates go down.

What This Means for You

You may be tempted to put your homebuying plans on hold in hopes that rates will fall. But that can be risky. No one knows for sure where rates will go from here, and trying to time them for your benefit is tough. Lisa Sturtevant, Housing Economist at Bright MLS, explains:

“It is typically a fool’s errand for a homebuyer to try to time rates in this market . . . But volatility in mortgage rates right now can have a real impact on buyers’ monthly payments.”

That’s why it’s critical...

How Changing Mortgage Rates Can Affect You The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year.

Facts About Closing Costs [INFOGRAPHIC]

If you’re thinking about buying a home, be sure to plan for closing costs. Closing costs are typically 2% to 5% of the total purchase price of a home, and they can include things like government recording costs, appraisal fees, and more. DM me so I can answer your questions about the homebuying process.

Facts About Closing Costs [INFOGRAPHIC] If you’re thinking about buying a home, be sure to plan for closing costs.Closing costs are typically 2% to 5% of the total purchase price of a home, and they can include things like government recording costs, appraisal fees, and more.