R&S Premier Homes Blog

Saturday, May 4, 2024   /   by Steve Halen

What Is Going on with Mortgage Rates?

You may have heard mortgage rates are going to stay a bit higher for longer than originally expected. And 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 say is ahead.

Economic Factors That Impact Mortgage Rates

When it comes to mortgage rates, things like the job market, the pace of inflation, consumer spending, geopolitical uncertainty, and more all have an impact. Another factor at play is the Federal Reserve (the Fed) and its decisions on monetary policy. And that’s what you may be hearing a lot about right now. Here’s why.

The Fed decided to start raising the Federal Funds Rate to try to slow down the economy (and inflation) in early 2022. That rate impacts how much it costs banks to borrow money from each other. It doesn't determine mortgage rates, but mortgage rates do respond when this happens. And that’s whe. ...

Saturday, May 4, 2024   /   by Steve Halen

The Perks of Buying over Renting

Thinking about buying a home? While today’s mortgage rates might seem a bit intimidating, here are two solid reasons why, if you’re ready and able, it could still be a smart move to get your own place.
1. Home Values Typically Go Up Over Time
There’s been some confusion over the past year or so about which way home prices are headed. Make no mistake, nationally they’re still going up. In fact, over the long-term, home prices almost always go up (see graph below):


Using data from the Federal Reserve (the Fed), you can see the overall trend is home prices have climbed steadily for the past 60 years. There was an exception during the 2008 housing crash when prices didn't follow the normal pattern, but generally, home values kept rising.
This is a big reason why buying a home can be better than renting. As prices go up and you pay down your mortgage, you build equity. Over time, t. ...

Monday, April 15, 2024   /   by Steve Halen

What Are Buyer’s Agents Fees?

What Are Buyer’s Agents Fees?
June 21, 2023 By Bill Gassett



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When embarking on the journey of purchasing a home, many buyers often enlist the assistance of a buyer’s agent.
Buyer’s agents play a crucial role in helping buyers navigate the complex real estate market and secure the best possible deal.
However, it’s essential to understand the concept of buyer’s agent fees before agreeing.
We will delve into the details of buyer’s agent fees, explaining what they are, how they work, and why they are worth considering.
What is a Buyer’s Agent?
Before explaining buyer agent fees, you should understand what a buyer’s agent is and what they do. A buyer’s agent works with home buyers as their fiduciary. They are emboldened to the buyers as their trusted advisor and confidant.
A buyer’s agent functions as someone who is in your corner thro ...

Wednesday, November 22, 2023   /   by Steve Halen

Home Prices Still Growing – Just at a More Normal Pace

If you’re feeling a bit muddy on what’s happening with home prices, that’s no surprise. Some people are still saying prices are falling, even though data proves otherwise. Part of that misconception is because people are getting their information from unreliable sources. But it’s also coming from some media coverage misrepresenting what the data really shows.

So, to keep things simple, here’s what you really need to know using real data you can trust.

Normal Home Price Seasonality Explained

In the housing market, there are predictable ebbs and flows that happen each year. It’s called seasonality. Spring is the peak homebuying season when the market is most active. That activity is typically still strong in the summer but begins to wane as the cooler months approach.

Home prices follow along with seasonality because prices appreciate most when something is in high demand. That’s why there’s a reliable lo. ...

Wednesday, October 25, 2023   /   by Steve Halen

30-year fixed-rate mortgage trends over time

For some perspective on today’s mortgage interest rates, here’s how average 30-year rates have changed from year to year over the past five decades.



Year
Average 30-Year Rate
Year
Average 30-Year Rate
Year
Average 30-Year Rate


1975
9.05%
1991
9.25%
2007
6.34%


1976
8.87%
1992
8.39%
2008
6.03%


1977
8.85%
1993
7.31%
2009
5.04%


1978
9.64%
1994
8.38%
2010
4.69%


1979
11.20%
1995
7.93%
2011
4.45%


1980
13.74%
1996
7.81%
2012
3.66%


1981
16.63%
1997
7.60%
2013
3.98%


1982
16.04%
1998
6.94%
2014
4.17%


1983
13.24%
1999
7.44%
2015
3.85%


1984
13.88%
2000
8.05%
2016
3.65%


1985
12.43%
2001
6.97%
2017
3.99%


1986
10.19%
2002
6.54%
2018
4.54%


1987
10.21%
2003
5.83%
2019
3.94%


1988
10.34%
2004
5.84%
2020
3.10%


1989
10.32%
2005
5.87%
2021
2.96%


1990
10.13%
2006
6.41%
2022
5.34%



Source: Freddie Mac ...
AZ Dream Home Search
21321 E Ocotillo RD Suite 113
Queen Creek, AZ 85142
Designated Broker/ Owner Steven Halen
480-253-0071
steve@azdreamhomesearch.com


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