Recent studies show that realtors are beginning to gain more confidence in the housing market, regardless of the fact the economy has been slow to recover. Lawrence Yun, the chief economist of the National Association of Realtors, said that he and other experts are under the impression that the economy will continue to improve over time. He added that he forecasts that the recovery phase will be "unique," and that individuals who are in the higher income brackets will see more improvement than others right away due to stock market wealth. Individuals who are in the lower income brackets aren't likely to see growth in their income, as there is a long way to go until the economy is able to make a full recovery.
Daniel Sight, vice president and broker for Reece Commercial, said that credit for commercial deals are more available than this time last year, however, it still isn't that great. He said that although credit has opened up, it is still a good idea for consumers to have a healthy down payment and good credit history prior to taking out a mortgage.
Despite the fact that there was an increase in inventory over the past few months, Berkowitz said that the demand will most likely lead to more individuals entering the housing market soon. He said that home buying season has started off on the right foot, and that buyers have been able to capitalize on moderate housing prices easier than before.
With more people expected to buy, it's more than likely that they will need to put some of their extra items in a self storage unit before their move.
The U.S. mortgage rates rose to the highest level they've been in six weeks. According to Bloomberg, the recent spike is a positive outcome for the market, especially after home loan costs reached record lows earlier this month. Jonathan Miller, president of New York-based appraiser Miller Samuel, told the source a lot of analysts believe that this trend is similar to what happened during the housing boom a few years ago. However, he added that the only difference between now and then is the fact that financial experts have a better idea of what to expect in addition to the fact that credit is tighter, which will prove advantageous in the long run.
The rate for a 30-year fixed mortgage is 3.51 percent, according to recent data collected by Freddie Mac. Now that analysts predict that consumers are going to be spending more money, Freddie Mac Chief Economist Frank Nothaft said that he thinks that households will soon begin to "shore up" their balance sheets. He told The Wall Street Journal that household debt has decreased to $110 billion in the first quarter, while mortgages were down to 3 million from 5.1 million in the fourth quarter of 2009.
With consumer spending expected to increase, it is more than likely that people are going to start purchasing homes and taking out mortgages. In the meantime, if they are unable to store all of their items in their current or new home, or just want to stay organized during the moving process, they should look into renting a self storage unit in their current or new neighborhood.
Real time rates on fixed-rate mortgages rose for the second year in a row, according to data collected by the real estate website Zillow Inc. The rates increased to 3.48 percent from 3.39 percent within one week, which is a good sign, considering most of the records from last year showed a decline. Erin Lantz, director of Zillow Mortgage Marketplace, said that she has high hopes for the future of the country's mortgages and housing economy.
"Prompted by rumors that the Fed would begin scaling back the QE3 stimulus program earlier than anticipated, mortgage rates rose late last week to a level not seen since early April," she said. "This coming week, we expect rates will continue a longer-term upward trend as economic data points towards continued signs of economic recovery."
Daily Markets reported that 5-year adjustable rate mortgages have increased a bit as well. The numbers went from 2.56 percent to 2.58 percent this week. The only numbers that didn't change at all within the past week were 1-year mortgage rates, according to Freddie Mac. In fact, the numbers have reached a record low of 2.53 percent.
While these numbers may entice some homeowners to buy, there's no way to determine yet if people are going to start again. If someone chooses to do so, they might want to stay organized during the moving process. One option is to rent a self storage unit so they have a space to hold their items until they get settled into their new home. There are plenty of options available, so it would be in the consumers best interest to explore their options before settling down.
After HSH.com, the nation's largest publisher of mortgage and consumer loan information released its Weekly Mortgage Rates Radar report, some analysts are left wondering what the future holds for the industry. Keith Gumbinger, vice president of HSH.com, said that the hiring rates were fairly steady in March and the drop in unemployment helped fixed rate mortgages break a "six-week slide." However, he said that some of the fixed rates will soon begin to solidify, and that there will be record lows throughout the rest of the year.
According to The Associated Press, mortgage buyer Freddie Mac announced that average rates for 30-year fixed mortgage increased to 3.42 this week from 3.35. A survey released by CoreLogic on May 7 revealed that home prices in the United States increased 10.5 percent last month compared to this time last year. The prices increased in 46 states over the past 12 months, 11 of which posted double-digit gains, the source reported. Analysts at Freddie Mac stated that sales are increasing in some of the markets that have been hit the hardest due to the fact that a lot of investors are purchasing homes quicker in hopes of turning a profit.
With mortgage rates near the lowest they've been, it's more than likely that consumers are going to begin trusting the housing market and begin buying. Keeping a home organized during the moving process can be stressful and hard to do at times. However, by putting some personal belongings away in a storage unit, homeowners will be able to keep track of their items more efficiently without feeling too overwhelmed. There are plenty of options for storage facilities across the country, so individuals should check to see what the best option is in their area.
When homeowners first move into their new space, it can be difficult to conquer some of the clutter challenges they may face. According to Real Simple, one of the ways parents can avoid having frequent messy rooms in their home is by creating a space that their kids will also be able to maintain. If kids get ready in certain rooms, make sure to put organizers in that room so they have spots to put their belongings. Don't forget to remind them.
One of the most common spaces that tends to get overwhelmed with clutter are home offices. The source suggested that homeowners begin shredding documents to avoid building a "mountain of papers." Once that is done, it suggested that consumers create organized filing spaces that are designed to hold the extra documents. Building extra shelves can also help, and can also accommodate more than one person.
Storage bins are also an excellent addition to any home, as homeowners can store just about any type of item in them. There are a variety of options available on the market, ranging in sizes to ensure that they can fit nearly anywhere in a home. OrganizedHome.com suggested that homeowners label their storage bins, as this will prove to be advantageous if they ever get confused as to where a specific item is being kept. Prior to packing away all of the items, it'd be a wise idea to create a list and organize which items are stored together. These bins can also be efficient if an individual wants to put them in a self storage unit either seasonally or permanently.