More balanced though not sure why forecasting interest rates is hard for a seasoned realtor, the Fed already said they are planning to raise another 50% basis points in December. That rate will remain until at least March 2023.
Fed funds rate is not the primary driver for mortgage interest rates. The fed raised the rate by .75% in November, and mortgage rates are down by almost 1% since then.
@@McDonaldResidential The slow down in mortgage rate increases is because of yield curve and the pricing in that the Feds' raise will be less aggressive. Run for the hills if you find a realtor that says Fed funds rate is not the primary driver of mortgage interest rates. Banks make money off of the spread between Feds and consumers. It's how the industry works.
@@seniorhousinganalyst2782 There you go again making assumptions. Sacramento is just one small area in the nation. Falling prices is great for me. I don't flip. Buy more!
It depends on your situation. To add to what I shared in the video, home prices will be down in 2023 around the Seattle area (they already are 15-20% depending on where you are looking). If that's the most important variable to you (it is for me), then I'd take advantage of it. I suspect mortgage rates will be better in 2024 and 2025, but prices will be higher by then again. Feel free to reach out directly if you want to chat about your individual situation. - (425) 343-3661
Pool in Western WA just not worth the up keep. Nothing wrong with a great view though. I love Edmonds but the internet / Cell Signals / Radio there sucks in the Bowl
Can you talk about first time home buyer programs in Seattle?
Thanks for the suggestion. I'll have my lender jump on a video to discuss some of the different options.
I am planning to buy a burdhet
2-3 BHK or a row house please please help
More balanced though not sure why forecasting interest rates is hard for a seasoned realtor, the Fed already said they are planning to raise another 50% basis points in December. That rate will remain until at least March 2023.
Fed funds rate is not the primary driver for mortgage interest rates. The fed raised the rate by .75% in November, and mortgage rates are down by almost 1% since then.
@@McDonaldResidential The slow down in mortgage rate increases is because of yield curve and the pricing in that the Feds' raise will be less aggressive. Run for the hills if you find a realtor that says Fed funds rate is not the primary driver of mortgage interest rates. Banks make money off of the spread between Feds and consumers. It's how the industry works.
@@seniorhousinganalyst2782 wow you found ONE town
@@seniorhousinganalyst2782 There you go again making assumptions. Sacramento is just one small area in the nation. Falling prices is great for me. I don't flip. Buy more!
Is it good idea to buy in 2023 or wait until 2024 or 2025?
It depends on your situation. To add to what I shared in the video, home prices will be down in 2023 around the Seattle area (they already are 15-20% depending on where you are looking). If that's the most important variable to you (it is for me), then I'd take advantage of it. I suspect mortgage rates will be better in 2024 and 2025, but prices will be higher by then again. Feel free to reach out directly if you want to chat about your individual situation. - (425) 343-3661
Great video!
Thanks
Pool in Western WA just not worth the up keep. Nothing wrong with a great view though. I love Edmonds but the internet / Cell Signals / Radio there sucks in the Bowl
Pools are a lot of upkeep in the PNW, but worth it if your wife teaches swim lessons in it :)
@@McDonaldResidential Ha very true then.