Dennis Holmquist

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October Monthly Skinny Video

November 22, 2021 by Dennis Holmquist

Months’ supply of inventory was down 23.5 percent to 1.3 months. A balanced market is about 5-6 months of supply. 1.3 months of supply indicates a pretty extreme sellers’ market.

Filed Under: Interest Rates

Mortgage Rates Drop Below Three Percent Again

November 11, 2021 by Dennis Holmquist

November 10, 2021
Despite the re-acceleration of economic growth, the recent bond rally drove mortgage rates down for the second consecutive week. These low mortgage rates, combined with the tailwind of first-time homebuyers entering the market, means that purchase demand will remain strong into next year. However, affordability pressures continue to be an ongoing concern for homebuyers.

Information provided by Freddie Mac.

Filed Under: Interest Rates

September Monthly Skinny Video

October 25, 2021 by Dennis Holmquist

There are some signs of a potential market shift, even though both new and active listings are down compared to last year and sales are up compared to 2019.

Filed Under: Interest Rates

August Monthly Skinny Video

September 23, 2021 by Dennis Holmquist

In new construction, home builders continue to struggle to meet buyer demand, as housing starts nationwide dropped 7% last month, according to the Commerce Department.

Filed Under: Interest Rates

July Monthly Skinny Video

August 26, 2021 by Dennis Holmquist

Filed Under: Interest Rates

June Monthly Skinny Video

July 26, 2021 by Dennis Holmquist

The increase in sales prices comes with a slight decline in existing home sales nationwide, as homebuyers struggle with declining affordability amid a lack of inventory, forcing some buyers to simply wait it out in hopes of more inventory and less competition.

Filed Under: Interest Rates

May Monthly Skinny Video

June 21, 2021 by Dennis Holmquist

Home prices are still on the increase and that is not likely to change during the summer months. The Median Sales Price increased 16.1 percent to $342,500 for the month.

Filed Under: Interest Rates

Mortgage Rates Drop Below Three Percent

May 27, 2021 by Dennis Holmquist

May 27, 2021
Mortgage rates are down below three percent, continuing to offer many homeowners the potential to refinance and increase their monthly cash flow. In fact, homeowners who refinanced their 30-year fixed-rate mortgage in 2020 saved more than $2,800 dollars annually. Substantial opportunity continues to exist today, as nearly $2 trillion in conforming mortgages have the ability to refinance and reduce their interest rate by at least half a percentage point.

Information provided by Freddie Mac.

Filed Under: Interest Rates

April Monthly Skinny Video

May 24, 2021 by Dennis Holmquist

April was another strong month for home sales. The busy spring market continues to see many multiple offer situations driving sales prices above asking price.

Filed Under: Interest Rates

March Monthly Skinny Video

April 22, 2021 by Dennis Holmquist

Filed Under: Interest Rates

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