If you need assistance, please call 757-589-7628

Mortgage Rates | AtCoastal Realty - The Morton Group Blog

Tuesday, March 26, 2024   /   by Todd Morton

What’s the Latest with Mortgage Rates?

Recent headlines may leave you wondering what’s next for mortgage rates. Maybe you’d previously heard there were going to be cuts this year that would bring rates down. That refers to the Federal Reserve (the Fed) and what they do to their Fed Funds Rate. While cutting, or lowering, the Fed Funds Rate doesn’t directly determine mortgage rates, it does tend to impact them. But when the Fed met last week, a cut didn’t happen — at least, not yet. 
There are a lot of factors the Fed considered in their recent decision and most of them are complex. But you don’t need to be bogged down by those finer details. What you really want is the answer to this question: does that mean mortgage rates aren’t going to fall? Here’s what you need to know. 
Mortgage Rates Are Still Expected To Drop This Year
While it hasn’t happened yet, that doesn’t mean it won&r. ...

  virginia beach, home buying, first-time home buyer, housing market, virginia beach realtors, home prices, mortgage rates, mortgage, mortgage approval

Monday, February 26, 2024   /   by Todd Morton

How Changing Mortgage Rates Impact You [INFOGRAPHIC]

Some Highlights


If you’re looking to buy a home, it’s important to know how mortgage rates impact what you can afford and how much you’ll pay each month.



That’s because even a small change in mortgage rates can have a big impact on your purchasing power.



The best way to navigate changing mortgage rates and make an informed buying decision is to rely on the expertise of a local real estate professional and mortgage lender. ...

  first-time home buyer, home buying, virginia beach, mortgage relief, mortgage, mortgage rates, infographic

Wednesday, February 14, 2024   /   by Todd Morton

What’s Really Happening with Mortgage Rates?

Are you feeling a bit unsure about what’s really happening with mortgage rates? That might be because you’ve heard someone say they’re coming down. But then you read somewhere else that they’re up again. And that may leave you scratching your head and wondering what’s true.

The simplest answer is: that what you read or hear will vary based on the time frame they’re looking at. Here’s some information that can help clear up the confusion.

Mortgage Rates Are Volatile by Nature

Mortgage rates don’t move in a straight line. There are too many factors at play for that to happen. Instead, rates bounce around because they’re impacted by things like economic conditions, decisions from the Federal Reserve, and so much more. That means they might be up one day and down the next depending on what’s going on in the economy and the world as a whole.

Take a look at the graph below. It uses data&. ...

  first-time home buyer, home buying, virginia beach, housing market, mortgage relief, mortgage, mortgage rates

Wednesday, January 17, 2024   /   by Todd Morton

3 Predictions for Virginia’s Housing Market in 2024

2023 was a year characterized by slow home sales activity, rising interest rates, and inventory constraints. Let’s look at where we expect the housing market to be headed this year.
Home sales activity is likely to rebound from 2023 levels with an expected boost from lower mortgage rates.
The Federal Reserve has kept its target federal funds rate unchanged at three consecutive meetings since July 2023. The market anticipates the Federal Reserve to lower the federal funds rate in 2024. This is expected to support the downward trajectory that mortgage rates have been on since November 2023. Lower mortgage rates will renew the interest of potential home buyers who were discouraged by the high interest rates throughout most of 2023. This will likely spur housing market activity with multiple interested buyers bidding on available houses and will likely cause homes to sell faster. Overall, 2024 is expected to see a much-needed respite from the sluggish home sales numbers of 2023, al; ...

  virginia beach, home buying, first-time home buyer, housing market, housing supply, home selling, the morton group, virginia beach realtors, home prices, mortgage rates

Tuesday, January 16, 2024   /   by Todd Morton

Expert Quotes on the 2024 Housing Market Forecast

If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market in 2024. In 2023, higher mortgage rates, confusion over home price headlines, and a lack of homes for sale created some challenges for buyers and sellers looking to make a move. But what’s on the horizon for the new year?

The good news is, many experts are optimistic we’ve turned a corner and are headed in a positive direction.

Mortgage Rates Expected To Ease

Recently, mortgage rates have started to come back down. This has offered hope to buyers dealing with affordability challenges. Mark Fleming, Chief Economist at First American, explains how they may continue to drop:

“Mortgage rates have already retreated from recent peaks near 8 percent and may fall further . . .”

Jessica Lautz, Deputy Chief Economist at the National Association of Realtors&nbs. ...

  virginia beach, home buying, first-time home buyer, housing market, housing supply, home selling, the morton group, virginia beach realtors, home prices, mortgage rates

AtCoastal Realty - The Morton Group
Todd Morton
582 Lynnhaven Pkwy STE 400
Virginia Beach, VA 23452
757-589-7628
download (5).png
Shannon Hodges
600 Lynnhaven Parkway Suite 100
Virginia Beach VA 23452
757-553-1643

©2024 REIN, Inc. Information Deemed Reliable But Not Guaranteed. The listings data displayed on this medium comes in part from the Real Estate Information Network, Inc, (REIN) and has authorized by participating listing Broker Members of REIN for display. REIN's listings are based upon data submitted by its Broker Members, and REIN therefore makes no representation or warranty regarding the accuracy of the data. All users of REIN's listings database should confirm the accuracy of the listing information directly with the listing agent.

©2024 REIN. REIN's listings data and information is protected under federal copyright laws. Federal law prohibits, among other acts, the unauthorized copyright or alteration of. or preparation of derivative works from, all or any part of copyrighted materials, including certain compilations of data and information. COPYRIGHT VIOLATORS MAY BE SUBJECT TO SEVERE FINES AND PENALTIES UNDER FEDERAL LAW.

REIN update its listing on a daily basis. data last updated: April 18, 2024

Some listings may be duplicated in the search results due to the co-mingling of listings from more than one multiple listing service. Should there be different listing information between the duplicated listings, user is advised to verify the accuracy of the listing information before making any financial decisions.

Some or all of the listings (or listings data) represented in this application have been enhanced with data not provided by REIN. The enhancements are as follows: Property Description, Property Photos. The source of these enhancements are: Google, Zillow, Trulia, etc.

This website does not include information on all the properties available for sale at this time.
This site powered by CINC: www.cincpro.com