Real Estate Insider Blog
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The bond market started going haywire after the election -- here's the result
Immediately after the election, the bond market was splattered all over the windshield, taking mortgage rates up with it.
The most immediate concern right now is that the 10-year T-note has soared to 2.07 percent, the first time so high since last January and wiping out six months of chart support near 1.80 percent — and the next support is near 2.50 percent, mortgages 4.25 percent-4.50 percent.
“Mortgage rates have spiked more than 20 basis points following the results of the presidential election on Tuesday, as we assess the degree of political and economic uncertainty that Trump’s win introduced to the market and as investors move away from U.S government assets, including U.S. mortgage-backed securities, in favor of relatively safer investments,” said Erin Lantz, Zillow Group vice president of mortgages, in a statement.
“As we continue to learn more about shape of the new administration, their policies, and the global reaction, we expect more volatility as markets try to put a price on the political...
As life goes on you may find yourself struggle with your home. Your kids have moved out and they are now raising families of their own. Your home may be too big or too much to manage right now. It is quite common for individuals to experience this especially as they begin to have more time on their hands. Yet, when it comes to downsizing and the need to do something new, it may present an opportunity to start a new chapter in your life.
Are you an empty nester or a retiree looking to make changes? Here are a few things to keep in mind:
According to the National Association of Home Builders (NAHB), "Builder confidence in the market for newly constructed single-family homes remained on firm ground in October, down two points to a level of 63 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
Even with this month's drop, builder confidence stands at its second-highest level in 2016, a sign that the housing recovery continues to make solid progress," said NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Ill. However, builders in many markets continue to express concerns about shortages of lots and labor.
The October reading represents a mild pullback from a jump in September, and indicates that the housing market continues to make slow and steady gains," said NAHB Chief Economist Robert Dietz. "Moreover, mortgage rates remain low and the HMI index measuring future sales expectations has been over 70 for the past two months. These factors will sustain continued growth in the single-family market in the months ahead."
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