Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
I regularly read articles about the imminent demise of real estate agents. You’ve seen them too. They go like this: The internet is changing how real estate is bought and sold; see websites A, B and C. Consumers now have access to information they never had before. As more folks peer behind the curtain, real estate agents are going to suffer from fewer deals and lower commissions. The end is near! Although I agree with
The Federal Reserve Board announced a further 0.25% cut to the closely watched Federal Funds Rate yesterday, bringing the short-term interest rate down to 2.00%. More importantly, they also signaled that this would be the last rate cut for a while. As has been discussed in previous posts, mortgage rates have recently been moving in the opposite direction as the Federal Funds Rate. Mortgage rates are long-term and are very sensitive to inflation expectations. The
Property taxes are a sensitive subject in Greater Hartford. Just about every year there is a budget referendum in at least one local town as angry residents fight yet another property tax increase. The debate in some towns is more heated than in others (but we won’t mention any names). You may be happy to know that rising property taxes are a hot topic in other cities and states as well. An editorial in this
I read this article in the New York Times this morning and I’ve been thinking about it for a good part of the day. Short synopsis: not only were lower income home buyers sucked into adjustable rate mortgages and equity stripping, but so were higher income individuals. *gasp* A few examples were given where “real estate consultants” and a lawyer were able to re-negotiate their mortgage terms with their lenders. Either their loans were refinanced
I see articles about interest rates going down every time I scan the business news. Either the Federal Reserve just cut rates or Wall Street is demanding further cuts. Yet after briefly going down, mortgage rates are again on the rise. What gives? The key to this mystery is that mortgage rates are based on long-term interest rates (like the 10-year Treasury rate) rather than the short term rates that Federal Reserve influences. Short-term and