Forecasting Mortgage Rates
Of course we all know mortgage rates have risen over the past 12+ months, with only a slight decline just to rise again. When trying to decide if now is the best time to buy we want to turn the economic experts who can provide future incite for the remainder of 2022 and into 2023. Projections actually forecast that interest rates are set to stabilize within the coming months, hovering in the low to mid 5% range. Projections for late 2023 show a slight dip to roughly the high 4% range. That being said we know these numbers can change rather quickly.
At the end of the day we ultimately only know what is happening with rates at the current moment. Whether you’re a first time home buyer, looking to downsize, or need more space it’s important to know what is currently going on with mortgage rates, and you should always contact a professional mortgage lender to get accurate data specific to the type of loan you will need!
Pending in 6 days
This beautiful 4 bedroom 2 bathroom home went pending in just 6 days! With interest rates slowing real estate, there is still plenty of opportunity on the market.
Who do you know that wants to sell with the right agent?!
Orlando Real Estate Market
August 28, 2022 – September 03, 2022
Single-family existing homes
- Sales of single-family homes increased to 653 during the week of Aug 28, from 500 the week prior
- The median price of single family homes decreased to $417,000, a change of -0.7%
- Single-family inventory decreased by 19, and now sits at 5,050
Sales of condos, townhomes, and villas
- Sales of condos, townhomes, and villas increased to 215 during the week of Aug 28, from 172 the week prior
- The median price of condos, townhomes, and villas increased to $285,000, a change of 0.0%
- Condo inventory increased by 12, and now sits at 1,567