February 6th, 2025 9:26 PM by Eric Willner
Radio Show Notes 02/05/25 Wednesday:Read a summary of the show below orListen HereWatch Live Facebook Video Here
Midweek Market Report: Homebuyers Hesitate as Spring Housing Market Heats Up
By Eric Willner, Investor, Coach, and Host of The Real Estate Show, America’s longest running daily radio show about real estate.
Welcome to The Real Estate Show – South Florida’s #1 Real Estate Radio Show and America’s Longest Running Daily Real Estate Show!
My name is Eric Willner, known as the Voice of Real Estate, and I’m the founder of America’s longest-running daily radio show about real estate, as well as the creator of The Automatic Landlord System for Owning Cash-Flowing Real Estate “Profitably and Hassle-Free.” This show is your daily virtual real estate seminar, packed with valuable insights, market trends, and strategies to help you build wealth through real estate.
Wednesday Midweek Mortgage & Market Report
Today’s edition of The Wednesday Midweek Mortgage & Market Report is all about understanding why NOW is the best time to buy real estate. The fact is, everyone is in real estate. Either you are IN real estate because you own it—searching, negotiating, closing, and enjoying the benefits of ownership—or you are ON real estate, paying someone else's mortgage through rent or working for an employer who pays rent for their business space. The question is, which side do you want to be on?
A Real Estate Business is Just A Simple System
One of the biggest myths about real estate is that it’s complicated. The truth is, real estate is a business, and a business is just a system. A simple system, when followed correctly, can lead to consistent, predictable success.
Did you know? Most of the wealthiest individuals in history have used real estate as their primary wealth-building tool? Whether through buying and holding, fixing and flipping, or renting properties, real estate is the foundation of long-term financial success.
Today’s Show is About: A Real Estate Business is Just A Simple System
Understanding this simple system is crucial to developing a real estate plan that leads to financial independence. Whether you’re a first-time homebuyer, an investor looking to scale, or someone who wants to ensure financial security, having the right knowledge and approach is key.
Before we get into the details, let’s talk about this week’s special FREE Workshops:
Do finances challenge you? Most people say YES!
That’s why we created The Financial Edge – an education platform that moves the needle on financial success. We believe in a three-pronged approach:
Take the 72-Hour Challenge! Let’s talk about how to get your finances in order so you can own real estate and build wealth for the future.
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Today’s Market Update: Mortgage Rates & Market Trends
According to BankRate.com, here are today’s national mortgage interest rate trends:
What This Means for You: If you’re looking to buy a home, now is the time to start preparing. Get prequalified and see where you stand. We also have exclusive insider information on two new mortgage products and down payment assistance programs that will shake up the market!
Mortgage Demand Drops Further – What Does It Mean?
Key Takeaways:
Bottom Line: Despite higher rates, now is still a great time to buy because supply is increasing, sellers are offering price reductions, and competition is lower. Smart investors act when others hesitate!
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Homebuyers are finding little incentive to dive into the crucial spring housing market, despite an increase in listings. Mortgage rates have remained relatively stable in recent weeks, while home prices continue to climb.
According to the Mortgage Bankers Association’s seasonally adjusted index, mortgage applications to purchase a home dropped by 4% last week compared to the previous week, and demand was flat compared to the same week last year. Joel Kan, vice president and deputy chief economist at the MBA, noted that the average loan size for a purchase loan has risen since the start of the year, reaching $447,300 last week, the highest level since October 2024, due to weaker government purchase activity.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased slightly to 6.97% from 7.02%, with points increasing to 0.64 from 0.63 for loans with a 20% down payment. This rate was 17 basis points lower than the same week last year. Kan added that mortgage rates moved lower last week, consistent with lower Treasury yields following the FOMC meeting and a volatile week for the stock market, bringing the 30-year fixed rate to its lowest level in six weeks.
Applications to refinance a home loan increased by 12% from the previous week and 17% from the same week last year, although the percentage increases are large due to the low volume of applications. Most borrowers currently have rates well below what is being offered today.
Mortgage applications to buy a home are now 39% lower than they were in February 2019, pre-pandemic. Home sales are at a near-30-year low, and house prices nationally continue to reach record highs. More sellers are offering price cuts, with 15.6% doing so in January compared to 14.7% in January of last year, according to Realtor.com. However, most sellers are still seeing enough competition to maintain their list prices.
The supply of homes for sale increased by 25% compared to a year ago, largely because homes are staying on the market longer. The average time to sell a home in January was 54 days, the longest since March 2020, according to Redfin. Despite this increase, the supply of homes for sale is still 25% below where it was in January 2019.
Renter Affordability Is Improving – But Should You Buy Instead?
What This Means for You: Owning a home builds wealth, while renting often results in financial stagnation. If you can buy, you should buy!
Final Takeaways & Call to Action
Remember, real estate is the best investment, period! Now is the time to take action, get your financial house in order, and start building your future.
Text the word EDGE to 561-861-2366 to gain access to our Financial Edge Academy and start your real estate journey today!
Thank you for tuning in to The Real Estate Show – your daily real estate seminar. Join us again tomorrow for the ATM Edition – About The Money! Also, don’t forget to share this show with others who should own real estate!
Until next time, this is Eric Willner, The Voice of Real Estate, signing off!
Also, you can listen to the entire 30 minute broadcast of any day’s edition of The Real Estate Show by clicking on the audio link on that days summary post. You can also watch the Facebook Live video at www.facebook.com/TheRealEstateShow.
Want to know more? If you are serious about real estate and paying off debt, then find out more on today and every day’s episodes and learn more about Real Estate Investing and learn HOW TO by listening to The Real Estate Show with Eric Willner , Live every weekday morning at 9 o’clock (EST) on Florida’s Money Talk Radio stations WWNN AM1470, FM 95.3 and FM 96.9. You can also hear us on the free apps: iHeart Radio and TuneIn. Recorded Rebroadcasts are available 24/7 on Facebook. Please share this and our Facebook updates.
Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. (AutomaticLandlord.com) You can reach Eric Willner at Eric@Ericwillner.com or 888-595-7779.
Also listen to the rebroadcasts on demand on Facebook.com/TheRealEstateShow
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