Local News

Demand In Homes Above Last Year’s Pace

The economy has seen record-breaking home sales through the summer and is still going strong this fall. Buyers are actively looking and purchasing homes faster and the inventory is falling behind. The National Associations of Realtors (NAR) believes this a good time to sell if you are thinking about doing so. According to the NAR's Pending Home Sales Report, “Pending home sales in July achieved...

Today’s Housing Market Benefits for Buyers & Sellers

The current housing market is bustling with activity. There are fantastic opportunities for both the buyer and seller. Today's market has some perks that we just don't see all the time. Here are the top two that are seldomly at one's fingertips. The most talked-about benefit today for a buyer is the average mortgage interest rate. Last month saw the rates hit an all-time low for the eighth time this...

Mortgage Interest Rates Under Three Percent

Mortgage interest rates are at record lows and will keep falling in the near future. August 6 saw a drop in mortgage interest rates to under 3 % giving buyers a huge incentive to purchase a new home. According to forbes.com, the spread between 30-year fixed-rate mortgages and the yield on 10-year treasury bonds is still "above longterm norms." The spread usually runs between 1.5 and 2.0 percentage...

Here Are Six Reasons Why Right Now Is the Best Time to Sell a House

Times are hard for the country and the country's economy during the pandemic. Even among the pandemic, the housing market has flourished. Now is a great time for sellers to put their homes on the market. "Given the pandemic and uncertainty it's caused, the general sentiment is that now is not a good time to sell your home," says Danielle Hale, chief economist at realtor.com®. "Yet so far, the data...

Record Low Mortgage Rates Increase Homebuyer Demand Thirty-Three Percent

The pandemic shut-in is lifting and potential homebuyers are starting to branch out and look for a new home. With the shut-in lifting and record-low mortgage rates, the Mortgage Bankers Association's index reported a 33% increase in homebuyers than this time last year. The report also showed that mortgage applications to purchase a new home rose 5% the first week in July. Homebuyers' demand has been...

June Sees A Positive Housing Market In Builder Confidence

  According to the latest NAHB/Wells Fargo Housing Market Index (HMI), builder confidence in the housing market for newly-built single-family homes rose 21 points to 58 this June. This is a great reading as anything above 50 shows a positive market. “As the nation reopens, housing is well-positioned to lead the economy forward,” said NAHB Chairman Dean Mon. “Inventory is tight,...

Mortgage Demand Up Now More Than Ever

Mortgage demand from potential homebuyers is up 13% annually even though the interest rates are rising. According to CNBC mortgage rates were at a record low at the beginning of the second week of June but began to rise throughout the week and spike at the week ending. The 30-year fixed increased to 3.38% from 3.37% for conforming loans with a 20% down payment. The slight increase prompted...

Fed Says Stimulus Will Keep Coming Years After the Pandemic

As of last Wednesday, the Federal Reserve did not change the rates and maintain they will keep going with the stimulus plan until the economy "has weathered recent events." The majority of policymakers say that the current rate levels will remain low in 2022. The Federal Reserve's "dot plot" shows that the forecast of the central bank's policymakers do not foresee a rate increase or any rate hikes...

Audubon Nature Institute Will Reopen In Phases

The Audubon Nature Institute is a big part of the New Orleans' area attractions. Residents and visitors alike enjoy the museums and parks that are part of the Audubon Nature Institute. Under Louisiana's and New Orleans' health directive, the Audubon Nature Institute will reopen their parks and museums in phases with limited attendance and programming. The 501(c)3 not for profit will begin the process by...

A Change In Our Lifestyle Also Brings a Change In The Housing Market

When a house goes on the market, the days on market can leave a negative mark.  According to the leaders in the housing market, this stigma will be a thing of the past. Among the current pandemic, the real estate market has changed a bit from traditional ways. Throughout the country, real estate professionals are finding ways to navigate the real estate market while keeping everyone safe from the...

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