Mortgage Bankers Association September 2017 Rate Forecast

Mortgage Bankers Association September 2017 Rate Forecast

The September 2017 Mortgage Bankers Association rate forecast for the 30 year fixed rate mortgage is showing the third quarter of 2017 as the lowest percent average rate for the next five consecutive quarters and nearly reaching a whole percentage point up by the end of 2018.  Historically, during the forecast period the average forecast rate since the previous quarter maintained a consecutive quarter-over-quarter average rate increase at a less aggressive rate than what is forecasted to occur moving forward. The aggressive average rate increase is expected to better control a run-up in home prices.  According to Freddie Mac’s September outlook report, total home sales are expected to increase 2 percent from 2017 to 2018 with a 4.9 percent increase in home prices in 2018.

Overall we are still dealing with a nation wide housing shortage so we will need to keep watch to see if this aggressive pattern holds with future forecasts. We can expect fluctuations in the rate as they will not remain stagnant but will slightly deviate around the quarterly average.

As such, if you are looking to sell, you can benefit from stable prices and strong demand:

Check out how much your home is worth based on local home values in your neighborhood. Simply enter your address and see what is available in your neighborhood.

And if you are buying, affordability can become an issue with rising interest rates and rising home prices so the earlier you get into the market the better your chance to still get a relatively low interest rate on a mortgage but you need to take action now:

See available Just Listed Honolulu, Hawaii homes that are for sale right now.

So what do these rates mean if you are seeking a Veteran’s Assistance or VA home loan? The rates one actually qualifies is based on several factors including the loan program, credit score and credit worthiness. The forecasted rates are only intended to provide you with insight into what the market considers as the overall average rate for the given period. You must check with your financial institution to find out what rate you qualify and in some cases that rate may be lower than what you see forecasted by Mortgage Bankers Association. VA home loan is a home loan guaranty program offered to Veterans, military service members and eligible surviving spouses.

CLICK HERE for more information on VA Home Loans.

 

Oahu July 2017 Housing Inventory Snapshot

I hope you will find the following snapshot of local Real Estate inventory interesting and if you are already in the market exciting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot July 31, 2017
Average List Price Median List Price Average DOM: active listings Number of Listings
Honolulu County, HI
Click to Search Single Family under $1M $707,533 $725,000 64 441
Click to Search Single Family over $1M $3,063,797 $1,828,000 116 505
Click to Search Condo/Townhome under $500K $288,090 $295,000 76 744
Click to Search Condo/Townhome over $500K $1,496,895 $895,000 106 705
If you know someone who is considering buying or selling a home, please give me a call. I will provide professional and courteous service along with knowledgeable guidance through the process.

Honolulu Board of Realtors June 2017 Local Housing Statistics

Click Here for PDF Version of the Honolulu Board of Realtors June 2017 Local Market Update

The below information and linked report are produced by the Honolulu Board of Realtors using the HiCentral MLS data management system. Our brokerage’s website provides you with the same property sales information that is used to provide the below market metrics. EXIT Real Estate Associates is a brokerage member of the Honolulu Board of Realtors and is granted access to the same MLS database but with online tools to assist you with your search, we have a fast-loading mobile app for all smartphone users, and we are qualified by the State of Hawaii to provide advise and guidance on any of the listings you view from www.ExitRealtyHonolulu.com. We look forward to be of service to you.

Oahu June 2017 Housing Inventory Snapshot

I hope you will find the following snapshot of local Real Estate inventory interesting and if you are already in the market exciting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot  June 27, 2017
Average List Price Median List Price Average DOM: active listings Number of Listings
Honolulu County, HI
Single Family under $1M $715,055 $730,000 68 457
Single Family over $1M $3,212,156 $1,875,000 115 480
Condo/Townhome under $500K $291,291 $295,000 77 693
Condo/Townhome over $500K $1,437,255 $877,500 96 776
If you know someone who is considering buying or selling a home, please give me a call. I will provide professional and courteous service along with knowledgeable guidance through the process.

Oahu May 2017 Housing Inventory Snapshot

I hope you will find the following snapshot of local Real Estate inventory interesting and if you are already in the market exciting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot  May 28, 2017
Average List Price Median List Price Average DOM: active listings Number of Listings
Honolulu County, HI
Single Family under $1M $722,569 $740,000 68 461
Single Family over $1M $3,175,842 $1,850,000 120 475
Condo/Townhome under $500K $293,807 $299,000 75 684
Condo/Townhome over $500K $1,498,647 $925,000 97 710
If you know someone who is considering buying or selling a home, please give me a call. I will provide professional and courteous service along with knowledgeable guidance through the process.

Oahu April 2017 Housing Inventory Snapshot

I hope you will find the following snapshot of local Real Estate inventory interesting and if you are already in the market exciting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot  April 30, 2017
Average List Price Median List Price Average DOM: active listings Number of Listings
Honolulu County, HI
Single Family under $1M $726,092 $740,000 64 436
Single Family over $1M $3,246,110 $1,888,000 118 470
Condo/Townhome under $500K $290,901 $299,000 74 655
Condo/Townhome over $500K $1,527,068 $928,000 94 705
If you know someone who is considering buying or selling a home, please give me a call. I will provide professional and courteous service along with knowledgeable guidance through the process.

Oahu March 2017 Housing Inventory Snapshot

I hope you will find the following snapshot of local Real Estate inventory interesting and if you are already in the market exciting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot  March 28, 2017
Average List Price Median List Price Average DOM: active listings Number of Listings
Honolulu County, HI
Single Family under $1M $714,860 $735,000 71 407
Single Family over $1M $3,215,272 $1,950,000 116 473
Condo/Townhome under $500K $292,385 $299,000 76 639
Condo/Townhome over $500K $1,649,682 $950,000 107 639
If you know someone who is considering buying or selling a home, please give me a call. I will provide professional and courteous service along with knowledgeable guidance through the process.

Oahu January 2017 Housing Inventory Snapshot

I hope you will find the following snapshot of local Real Estate inventory interesting and if you are already in the market exciting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot  January 28, 2017
Average List Price Median List Price Average DOM: active listings Number of Listings
Honolulu County, HI
Single Family under $1M $704,617 $720,000 80 391
Single Family over $1M $3,137,859 $1,850,000 115 471
Condo/Townhome under $500K $296,571 $299,000 90 605
Condo/Townhome over $500K $1,661,245 $995,000 109 633
If you know someone who is considering buying or selling a home, please give me a call. I will provide professional and courteous service along with knowledgeable guidance through the process.

Mortgage Bankers Association December 2016 Rate Forecast

Mortgage Bankers Association December 2016 Rate Forecast

Mortgage Bankers Association December 2016 Rate Forecast

The December 2016 Mortgage Bankers Association rate forecast for the 30 year fixed rate mortgage is showing the final quarter of 2016 ending slightly lower than previously forecast but overall closing out the year with the same 3.9 percent average rate. But that is where this forecast changes its tune to a more aggressive upward trend in the rate forecast through 2017 and 2018 than in previous forecasts while the 2019 annual orecast remains unchanged. With this month’s forecast we are seeing increased volatility in the forecast over previous month’s which suggests that change in the form of rate increases are forth coming.

Overall this forecast supports that the 30-year fixed rate mortgages have begun to  meander upwards at a slightly more aggressive rate that previously forecasted with the out year rate forecast supporting the aggressive upward trend. Given the rate of increase in the average mortgage rates, the rates will remain at historically low levels for only the very near term. Overall we are still dealing with a nation wide housing shortage so we will need to keep watch to see if this aggressive pattern holds with future forecasts. We can expect fluctuations in the rate as they will not remain stagnant but will slightly deviate around the quarterly average.

As such, if you are looking to sell, you can benefit from stable prices and strong demand:

Check out how much your home is worth based on local home values in your neighborhood. Simply enter your address and see what is available in your neighborhood.

And if you are buying, you can benefit from historically low mortgage rates but you need to take action now:

See available Just Listed Honolulu, Hawaii homes that are for sale right now.

So what do these rates mean if you are seeking a Veteran’s Assistance or VA home loan? The rates one actually qualifies is based on several factors including the loan program, credit score and credit worthiness. The forecasted rates are only intended to provide you with insight into what the market considers as the overall average rate for the given period. You must check with your financial institution to find out what rate you qualify and in some cases that rate may be lower than what you see forecasted by Mortgage Bankers Association. VA home loan is a home loan guaranty program offered to Veterans, military service members and eligible surviving spouses.

CLICK HERE for more information on VA Home Loans.

Mortgage Bankers Association November 2016 Rate Forecast

Click Here to View the Mortgage Bankers Association November Rate Forecast

Mortgage Bankers Association November 2016 Rate Forecast

The November 2016 Mortgage Bankers Association rate forecast for the 30 year fixed rate mortgage is showing a slight upward push in the average mortgage rates for first quarter of 2017 otherwise the rates remain unchanged from past month’s forecast. The resulting effect to the annual average rates is a corresponding upward push by a mere tenth of a point for 2016. Otherwise, looking more long term at the annual average rate, the rates remain unchanged until we reach 2019 which takes a slight downward tick also by one tenth of a point.

Overall this forecast supports that the 30-year fixed rate mortgages shall meandering upwards at a slow rate while the out year rate forecast is more aggressive. Given the small rate of increase in the average mortgage rates, the rates will remain at historically low levels for the near term which is expected to have a minimal impact on the real estate market particularly with the nation wide housing shortage that we are experiencing. We can expect fluctuations in the rate as they will not remain stagnant but will slightly deviate around the quarterly average.

As such, if you are looking to sell, you can benefit from stable prices and strong demand:

Check out how much your home is worth based on local home values in your neighborhood. Simply enter your address and see what is available in your neighborhood.

And if you are buying, you can benefit from historically low mortgage rates:

See available Just Listed Honolulu, Hawaii homes that are for sale right now.

So what do these rates mean if you are seeking a Veteran’s Assistance or VA home loan? The rates one actually qualifies is based on several factors including the loan program, credit score and credit worthiness. The forecasted rates are only intended to provide you with insight into what the market considers as the overall average rate for the given period. You must check with your financial institution to find out what rate you qualify and in some cases that rate may be lower than what you see forecasted by Mortgage Bankers Association. VA home loan is a home loan guaranty program offered to Veterans, military service members and eligible surviving spouses.

CLICK HERE for more information on VA Home Loans.

Mortgage Bankers Association October 2016 Rate Forecast

Click Here to View the Mortgage Bankers Association October Rate Forecast

Mortgage Bankers Association October 2016 Rate Forecast

The October 2016 Mortgage Bankers Association rate forecast for the 30 year fixed rate mortgage dropped the quarterly averages from 2015 and now includes a 2018 quarterly average forecast but also includes a 2019 annual average forecast giving us greater insight into the future for mortgage rates.  Otherwise, we are seeing no changes to any of the quarterly averages for the remainder of 2017. The quarterly averages for 2018 are consistent with the previous Mortgage Bankers Association report in that the annual average is unchanged at 4.6 percent. In past postings, we commented on the  aggressive upward average rate trend with both the quarterly average rate and the annual average rate which persists with the October 2016 report as well. Of note, the 2019 annual average rate further exasperates this aggressive upward trend depicting the average annual rate reaching upwards of 5.4 percent.

Overall this forecast supports that the 30-year fixed rate mortgages are meandering upwards at a slow rate while the out year rate forecast is more aggressive. We can expect fluctuations in the rate as they will not remain stagnant but will slightly deviate around the quarterly average.

So what do these rates mean if you are seeking a Veteran’s Assistance or VA home loan? The rates one actually qualifies is based on several factors including the loan program, credit score and credit worthiness. The forecasted rates are only intended to provide you with insight into what the market considers as the overall average rate for the given period. You must check with your financial institution to find out what rate you qualify and in some cases that rate may be lower than what you see forecasted by Mortgage Bankers Association. VA home loan is a home loan guaranty program offered to Veterans, military service members and eligible surviving spouses.

CLICK HERE for more information on VA Home Loans.

Mortgage Bankers Association September 2016 Rate Forecast

Click Here to View the Mortgage Bankers Association September Rate Forecast

Mortgage Bankers Association September 2016 Rate Forecast

Not much to say about the September 2016 Mortgage Bankers Association rate forecast for the 30 year fixed rate mortgage as it mirrors the August forecast.  In August, the forecast was favorable for anyone in the real estate market as the forecast showed a rate drop from the July rate forecast. With the forecast for September, the forecast has gone flat. Discerning any trend from the September forecast would be premature as it is too early to tell if September is representative of a bottom in terms of mortgage rates. But the forecast does suggest that the average rate is going to increase with the last quarter of what is an election year.  The aggressive upward average rate trend also remains in the September forecast in both the quarterly average rate and the annual average rate. We can speculate that for the time being the easing that occurred will continue to provide stimulus for the immediate near term.

Overall this forecast, like past forecasts, continues to support that the 30-year fixed rate mortgages are meandering upwards at a slow rate while the out year rate forecast seems to be becoming more aggressive. We can expect fluctuations in the rate as they will not remain stagnant but will slightly deviate around the quarterly average.

So what do these rates mean if you are seeking a Veteran’s Assistance or VA home loan? The rates one actually qualifies is based on several factors including the loan program, credit score and credit worthiness. The forecasted rates are only intended to provide you with insight into what the market considers as the overall average rate for the given period. You must check with your financial institution to find out what rate you qualify and in some cases that rate may be lower than what you see forecasted by Mortgage Bankers Association. VA home loan is a home loan guaranty program offered to Veterans, military service members and eligible surviving spouses.

CLICK HERE for more information on VA Home Loans.

Mortgage Bankers Association August 2016 Rate Forecast

Click Here to View the Mortgage Bankers Association August Rate Forecast

Mortgage Bankers Association August 2016 Rate Forecast

The August 2016 Mortgage Bankers Association rate forecast for the 30 year fixed rate mortgage continues to provide great news for anyone in the real estate market as the forecast continues to drop from last month’s forecast. With the end of Q3 for 2016 approaching, the 30-year fixed rate mortgage average fell another one-tenth of a point from last month’s forecast. Even the approaching quarter average dropped. Overall, the forecast has pushed the 2016 calendar average rate three-tenths of a point below that of last year’s average. But now the forecast also shows an even more aggressive upward trend in both the quarterly average rate and the annual average rate but for the time being the easing will continue to provide stimulus as we approach the end of the summer market.

Overall this forecast, like past forecasts, continues to support that the 30-year fixed rate mortgages are meandering upwards at a slow rate while the out year rate forecast seems to be becoming more aggressive. We can expect fluctuations in the rate as they will not remain stagnant but will slightly deviate around the quarterly average.

So what do these rates mean if you are seeking a Veteran’s Assistance or VA home loan? The rates one actually qualifies is based on several factors including the loan program, credit score and credit worthiness. The forecasted rates are only intended to provide you with insight into what the market considers as the overall average rate for the given period. You must check with your financial institution to find out what rate you qualify and in some cases that rate may be lower than what you see forecasted by Mortgage Bankers Association. VA home loan is a home loan guaranty program offered to Veterans, military service members and eligible surviving spouses.

CLICK HERE for more information on VA Home Loans.

Mortgage Bankers Association July 2016 Rate Forecast

Click Here to View the Mortgage Bankers Association July Rate Forecast

Mortgage Bankers Association July 2016 Rate Forecast

The July 2016 Mortgage Bankers Association rate forecast for the 30 year fixed rate mortgage is now great news for anyone in the real estate market as the forecast has begun a downward trend with last month’s forecast and this month’s forecast. With the start of Q3 for 2016, we see that the 30-year fixed rate mortgage average fell another one-tenth of a point from last month’s forecast. Even the approaching quarter average dropped. Overall, the forecast has pushed the 2016 calendar average rate below that of last year’s average. But the forecast also shows an aggressive upward trend in both the quarterly average rate and the annual average rate but for the time being the easing will continue to stimulate a favorable summer market for anyone looking to purchase or sell mortgage backed real estate.

Overall this forecast, like past forecasts, continues to support that the 30-year fixed rate mortgages are meandering upwards at a slow rate while the out year rate forecast seems to be becoming more aggressive. We can expect fluctuations in the rate as they will not remain stagnant but will slightly deviate around the quarterly average.

So what do these rates mean if you are seeking a Veteran’s Assistance or VA home loan? The rates one actually qualifies is based on several factors including the loan program, credit score and credit worthiness. The forecasted rates are only intended to provide you with insight into what the market considers as the overall average rate for the given period. You must check with your financial institution to find out what rate you qualify and in some cases that rate may be lower than what you see forecasted by Mortgage Bankers Association. VA home loan is a home loan guaranty program offered to Veterans, military service members and eligible surviving spouses.

CLICK HERE for more information on VA Home Loans.

Mortgage Bankers Association June 2016 Rate Forecast

Click Here to View the Mortgage Bankers Association June Rate Forecast

Mortgage Bankers Association June 2016 Rate ForecastThe June 2016 Mortgage Bankers Association rate forecast for the 30 year fixed rate mortgage is good news for anyone in the real estate market as the forecast was revised slightly downward from the previous month’s forecast. As we approach the end of Q2 for 2016, the 30-year fixed rate mortgage fell two-tenths of a point from last month’s forecast. Looking ahead at the remaining quarters of 2016, the forecast also eased for the final quarter or Q4 for the calendar year. The result of the easing is that the 2016 annual rate average rate forecast is also down from previous forecasts and is now forecasted to close out 2016 below the 2015 annual average rate by one-tenth of a point. Now do not get too excited as the forecast still shows a steady upward trend in both the quarterly average rate and the annual average rate but for the time being the easing will help to keep a favorable summer market for anyone looking to purchase or sell mortgage backed real estate.

Overall this forecast, like past forecasts, continues to support that the 30-year fixed rate mortgages have increased at a slow and almost predictable rate that is persisting. We can expect fluctuations in the rate as they will not remain stagnant but will slightly deviate around the quarterly average.

So what do these rates mean if you are seeking a Veteran’s Assistance or VA home loan? The rates one actually qualifies is based on several factors including the loan program, credit score and credit worthiness. The forecasted rates are only intended to provide you with insight into what the market considers as the overall average rate for the given period. You must check with your financial institution to find out what rate you qualify and in some cases that rate may be lower than what you see forecasted by Mortgage Bankers Association. VA home loan is a home loan guaranty program offered to Veterans, military service members and eligible surviving spouses.

CLICK HERE for more information on VA Home Loans.

Oahu May 2016 Housing Inventory Snapshot

Happy Father’s Day to all Dads! I hope you will find the following snapshot of local Real Estate inventory interesting and if you are already in the market exciting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot  May 28, 2016
Average List Price Median List Price Average DOM: active listings Number of Listings
Honolulu County, HI
Single Family under $1M $687,122 $690,000 61 470
Single Family over $1M $3,008,549 $1,950,000 111 500
Condo/Townhome under $500K $281,015 $280,000 82 749
Condo/Townhome over $500K $1,383,670 $895,000 96 668
If you know someone who is considering buying or selling a home, please give me a call. I will provide professional and courteous service along with knowledgeable guidance through the process.

Mortgage Bankers Association May 2016 Rate Forecast

Click Here to View the Mortgage Bankers Association May Rate Forecast

MBA Mortgage Finance Forecast for May 2016

As we approach the middle of Q2 for 2016, the 30-year fixed rate mortgage remains on a steady and methodical upwards trend as previously forecasted. Mortgage Bankers Association is staying consistent and that upward trend is forecasted to continue through the remainder of Q2 and the remainder of 2016. The quarterly rate is on par with the forecasted 2015 annual rate, and in order to close out the 2016 annual forecasted rate in line with the 2015 annual average rate, the average annual rate must increase slightly to compensate for the lower average rates from Q1.  At present the quarterly average rate for the current quarter is forecasted to remain below the final quarter of 2015 but we can anticipate that the summer market will push rates higher validating the forecast.

We do not have much new to say at this point other than to repeat what we have been observing. Overall this forecast, like past forecasts, continues to support that the 30-year fixed rate mortgages have increased at a slow and almost predictable rate that is likely to persist. We can expect fluctuations in the rate as they will not remain stagnant but will slightly deviate around the quarterly average.

So what do these rates mean if you are seeking a Veteran’s Assistance or VA home loan? The rates one actually qualifies is based on several factors including the loan program, credit score and credit worthiness. The forecasted rates are only intended to provide you with insight into what the market considers as the overall average rate for the given period. You must check with your financial institution to find out what rate you qualify and in some cases that rate may be lower than what you see forecasted by Mortgage Bankers Association. VA home loan is a home loan guaranty program offered to Veterans, military service members and eligible surviving spouses.

CLICK HERE for more information on VA Home Loans.

Oahu April 2016 Housing Inventory Snapshot

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot  April 27, 2016
Average List Price Median List Price Average DOM: active listings Number of Listings
Honolulu County, HI
Single Family under $1M $695,117 $699,000 62 468
Single Family over $1M $3,087,067 $1,988,888 108 498
Condo/Townhome under $500K $286,223 $280,000 83 747
Condo/Townhome over $500K $1,355,555 $880,000 98 657
If you know someone who is considering buying or selling a home, please give me a call. I will provide professional and courteous service along with knowledgeable guidance through the process.

Oahu March 2016 Housing Inventory Snapshot

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot  March 31, 2016
Average List Price Median List Price Average DOM: active listings Number of Listings
Honolulu County, HI
Single Family under $1M $684,468 $680,000 62 468
Single Family over $1M $3,209,197 $1,999,777 115 468
Condo/Townhome under $500K $283,734 $275,000 80 771
Condo/Townhome over $500K $1,354,416 $895,000 98 642
If you know someone who is considering buying or selling a home, please give me a call. I will provide professional and courteous service along with knowledgeable guidance through the process.

Honolulu Board of Realtors March 2016 Local Housing Statistics

Click Here for PDF Version of the Honolulu Board of Realtors March 2016 Housing Statistics

The below information and linked report are produced by the Honolulu Board of Realtors using the HiCentral MLS data management system. Our brokerage’s website provides you with the same property sales information that is available on HiCentral.com, referenced in the below announcement. EXIT Real Estate Associates is a brokerage member of the Honolulu Board of Realtors and is granted access to the same MLS database but unlike HiCentral.com, we offer online tools to assist you with your search, we have a fast-loading mobile app for all smartphone users, and we are qualified by the State of Hawaii to provide advise and guidance on any of the listings you view from www.ExitRealtyHonolulu.com or HiCentral.com. We look forward to be of service to you.

HBR March 2016 Housing Stats