Tag Archive for: Federal Reserve

Local, national markets steady as Federal Reserve considers cuts

Reports from the U.S. Department of Commerce showed a year-over-year decline in the rate of core inflation over the month of June, down to 2.5% from 2.6% the previous year.  This marks the third consecutive month of year-over-year declining rates of inflation, the first signs that the inflation crisis, which has been at the heart […]

Huntsville bucks real estate trend with pending sales

Across the country, pending sales have stalled, as interest rates have not only failed to decrease in accordance to the schedule established by the Federal Reserve’s planned scale back of its anti-inflation measures, but have actually ticked back up slightly, reaching 7% at the end of February.  According to Redfin’s national survey, this has caused […]

NAR says to expect 6% average for 2024 as mortgage rates decrease

The average 30-year fixed mortgage rate continued to decrease this week, with the current average at time of printing down from 7.61% to 7.41%.  As a result, demand for mortgages have begun creeping back upwards, with applications nationwide up 2% over the week. However, this still represents a 20% decrease from the same time last […]

Local, national real estate markets buck under interest rates

Housing affordability continues to be a major concern across the United States. ATTOM Data Solution’s Q3 2023 US Home Affordability Report shows that median single-family and condo unit prices in Q3 were less affordable than historic averages in 99% of counties nationwide.  Moreover, with interest rates hovering around 8%, ‘major home expenses’ now take up […]

Huntsville continues positive trend as Feds discuss interest rates

The Huntsville Area Association of Realtors (HAAR) has released their monthly report for the month of August 2023.  The report shows that the average sale price of a home in the Huntsville/Madison-County region has seen a very modest increase relative to August the previous year, bumping up to $370K from $367K. This still remains well […]

Mortgage Rate Increase Breaks Trend

The big news in the real estate market this week has been the slight uptick in the average rate of a 30-year fixed rate mortgage.  According to Freddie Mac, the mortgage rates had been steadily declining for five weeks prior to the week ending December 29, 2022. This led to a drop of three-fourths of […]

41% of Households in Alabama Can’t Afford Utility Bills Amid Inflation

In a recent study done by LendingTree, the statistics firm found that 41.4% of households in Alabama say they have reduced or skipped necessities like food or medicine in order to afford their energy bill.  While gas prices have made headlines with high inflation and more and more commuters getting back on the road, consumers […]