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Where are Mortgages Headed in 2015?

Tuesday, January 13, 2015
by Christie Cannon

Where will Mortgage Rates be Headed in 2015?

Where will Mortgage Rates be Headed in 2015? | Simplifying The Market

We finished 2014 with the 30 year fixed mortgage rate at 3.87% as per Freddie Mac. This is very close to the historic lows in the spring of 2013.

However, the Mortgage Bankers Association projects mortgage rates to be about 5% by the end of 2015. The website Investopedia agrees and gives some perspective on the 5% rate:

“Barring another financial and housing market implosion, and if the economy continues to improve, expect interest rates to rise in the latter half of 2015. If they do jump to the 5% range it will be a modest hike when compared to historical averages. Rates will still be far below the approximately 8.5% 30-year fixed-rates mortgages have averaged since 1971 when Freddie Mac started tracking them. Rates averaged 6% in the years leading up to the recession.”

Here are the latest 2015 mortgage rate projections from Fannie Mae, Freddie Mac, the Mortgage Bankers’ Association and the National Association of Realtors:

Interest Rates 2015 | Simplifying The Market

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Record Growth...But Not Without Concerns

Tuesday, December 23, 2014
by Christie Cannon

 

One of the top financial ratings firms, Fitch Ratings, is blowing the whistle on Texas' hot housing market.  Home sale prices in the Dallas-Fort Worth area are at record levels this year and  Fitch Ratings warns that Texas home prices are about 11 percent overvalued.  A lack of homes available for purchase coupled with North Texas' fast-growing economy has caused residential prices to jump by about 7 percent over the past year.  

Economist Jim Gaines with the Real Estate Center at Texas A&M Unversity said he’s looked at Fitch’s new Texas housing report and doesn’t agree with the conclusions. “I’m not buying the overvalued card right now,” Gaines said. “Yes, prices have increased substantially for Texas markets – but only after being essentially flat for almost five years.

Despite its warning about the inflated prices, Fitch's report points out the overall strength of the state's economy.  Texas has been leading the country in both job growth and population gains.  

Texas home price gains have already cooled from late last year and early in 2014. But the year-over-year gains in residential prices in the Dallas-Fort Worth area is still running about twice the long-term average rate and are higher than nationwide increases. 

During the recent recession when many metropolitan areas in California, Nevada and Florida lost 50 percent or more of their home values, Texas prices fell only slightly.  And the housing markets in Dallas, Houston, Austin and San Antonio were some of the first in the country to recover.  For more information on Fitch's findings click  here.

469-951-9588

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North TX's Best nods to Clark Griswold

Saturday, December 20, 2014
by Christie Cannon

Stuck in the house with Cousin Eddie this week?.... perhaps a quick dash around town to see some of our areas best nods to the Griswolds.  

And you do detect a hint of jealousy, as my father-in law "taught me everything I know about exterior illumiination".... which explains why our lights don't work.

Find a spot near you & make some memories.... suggestions are  very welcome!

- Christie Cannon

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Naughtiest & Nicest Cities List

Friday, December 19, 2014
by Christie Cannon

The "Elves" at RealtyTrac offer the Naughty and Nice U.S. Cities List.

Texas cities make 6 of the top 10; with Frisco as number 5!

 

You can see their report & methodology here:

 

The original article can be found on Realty Trac

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$1B Frisco Station Development Releases New Details

Friday, December 19, 2014
by Christie Cannon

The 242-Acre $1 billion Frisco Station development on the Dallas North Tollway will wrap around the new Dallas Cowboys headquarters and retail complex.  Hillwood Properties and auto sales giant VanTrust Real Estate are partnering with the Rudman family, which has owned the site for more than 50 years.

Frisco Station is planned as a dense, urban-style development set to include a combination of corporate office towers, shopping and entertainment plazas, mid-rise apartments, medical facilities and other buildings.  Hillwood and VanTrust are no strangers to development in North Dallas.  Hillwood's founding Perot family developed the huge and successful Legacy business park in Plano and VanTrust is a partner in the huge Craig Ranch community being built in McKinney.  Frisco Station will be a designed to fit with the Cowboys’ 91-acre Star development, which includes the football team’s headquarters, practice facilities, an Omni Hotel, shopping center and entertainment venues.Jim Gandy, president of the Frisco Economic Development Corp., said the two projects together will ultimately employ almost 19,000 people.  Read about all the details in the article here.


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Frisco's Christmas In The Square Anniversary Celebration

Wednesday, December 17, 2014
by Christie Cannon

Frisco Square is celebrating it's 10th Anniversary this Saturday, December 20 from 5:00-10:00 pm.  Activities are to include a Parachuting Santa (at 5pm), Fireworks show (at 6pm), Light & Music Show, Carriage Rides, Trackless Train Rides, Build Your Own Snowman, 3 Lane Inner Tubing Snow Slide, Visits with Santa, Holiday Treats & more! Watch the video to see all the fun and excitement Christmas on the Square provides!


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Dallas Makes CNN List of Hot Housing Markets

Friday, December 12, 2014
by Christie Cannon

Dallas made the CNN List of Hot Housing Markets this year with an impressive 2015 home sales forecast of +7%.

Dallas's economy remains strong during the Great Recession and continues to roll along in the recovery.  This year Dallas is one of the busiest locations in the country for office, apartment and industrial development.  The area is also highlighted by a very strong homebuilding market.  North Texas is seeing its biggest real estate boom in almost 30 years!

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Fannie Mae Agrees: Hire a Pro to Sell Your House

Tuesday, December 9, 2014
by Christie Cannon

Fannie Mae Agrees: Hire A Pro to Sell Your House | Keeping Current Matters

Do you really need an agent to sell your house in today’s market? Here’s what Fannie Mae suggests to sellers on the Know Your Options section of their website:

“Select how you'll market and list the home (e.g., with a real estate agent or for sale by owner). There are pros and cons to each, but unless you are experienced at selling homes, it usually makes financial sense to get professional help—homes sold by agents typically sell at a higher price and spend less time on the market. An agent will also help you determine the best pricing for the house, they'll market the home, and they'll be your advocate throughout the process.”

Let’s go over the points they made:

  • Homes sold by agents typically sell at a higher price
  • Homes sold by agents typically spend less time on the market
  • An agent will help you determine the best pricing for the house
  • An agent will market the home
  • An agent will be your advocate throughout the process

If Fannie Mae says using an agent probably makes sense, perhaps you should interview an agent before putting your house up for sale. Full post here.

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New Builds Are Up Nationally, But Face Challenges

Thursday, December 4, 2014
by Christie Cannon

New builds are on the rise nationally....and are up big in North Texas.New Construction Challenges

As builders continue to have record new home starts this year, costs and build times continue to rise. Almost half of Texas construction companies are facing the challenges of losing their workers to other, higher-paying industries.  The shortage of contractors is creating rising costs and longer build times.  In Texas, over 90 percent of construction firms reported that they faced challenges in finding workers and 48 percent reported that lost workers to other industries.  Rising demand for oilfield workers has been a major culprit of luring away construction employees over the past few years.  Read the full article here...


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Existing Home Sales are Up!

Friday, November 7, 2014
by Christie Cannon

The newest report shows that existing home sales are at their highest level for 2014!  Check out the latest report from the National Association of Realtors.

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Displaying blog entries 31-40 of 46

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Photo of Christie Cannon Real Estate
Christie Cannon
Keller Williams Realty
5933 Preston Road #300
Frisco TX 75034
972-215-7747
Fax: 972-215-7748
Send an Email
Keller Williams Frisco - The Christie Cannon Team - http://www.christiecannon.com

 

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