March 20th, 2024 10:30 PM by Eric Willner
Radio Show Notes 03/20/24 Wednesday:
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"Unlocking Real Estate Secrets: Midweek Mortgage & Market Report Reveals Trends"
By Eric Willner, 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 radio show about real estate. I'm Eric Willner, known as the Voice of Real Estate and the founder of America's longest-running daily radio show about real estate. Today, we're diving into the Wednesday Midweek Mortgage & Market Report edition of The Real Estate Show, where we continue to explore why NOW is the perfect time to invest in real estate with the theme of "It’s Time to Spring into Action in Real Estate."
Tuesday at 8 pm, we have the Path To Home Ownership Introduction – Online by Invitation. Just text "Home" to 561-861-2366 to join.
Then, Wednesday night at 8:30 pm, we're hosting Financial Edge University “101 Overview” – Online by Invitation. Text "Edge" to 561-861-2366 to reserve your spot.
And don't forget about Thursday's Financial Edge University Masterclass – Text "Mastery" to 561-861-2366 to learn more.
Here at The Real Estate Show, we believe in a three-pronged approach to financial success: First, everyone should aspire to become a homeowner. It's the foundation of wealth-building. Second, homeowners should have their financial house in order with a written financial/life plan. And third, everyone should aim to own a business that not only pays them but also provides tax benefits – that's where The Financial Edge comes in. We're your financial team, and we're here to guide you every step of the way.
Now, let's talk about why NOW is the time to buy real estate. We've covered this theme in our previous shows from Monday and Tuesday, but today, we're diving deeper into the headlines and news articles that directly impact wealth through affordable housing. Understanding these market dynamics is crucial for gaining independence and peace of mind in your financial journey.
Today's national 30-year mortgage interest rate trends according to Bankrate.com
On Wednesday, March 20, 2024, the current average interest rate for the benchmark 30-year fixed mortgage is 6.90%, unchanged since the same time last week. If you're looking to refinance, the national 30-year fixed refinance interest rate is 6.85%, up 1 basis point from a week ago. Mortgage rates have shifted around but remain elevated. In 2024, experts were predicting the 30-year mortgage to slowly shift down, eventually landing under 6 percent. Mortgage rates change constantly, however, and many factors could play out between now and year-end to change those projections. Check out our mortgage rates forecast for the latest.
Weekly mortgage demand drops as interest rates rise again, but Fed announcement will be key for spring market (see CNBC/Real Estate)
Key Points:
· The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.97% from 6.84%
· Applications for a mortgage to purchase a home fell 1% for the week and were 14% lower than the same week one year ago.
· The latest Federal Reserve rate announcement could have a significant impact on the trajectory of mortgage demand this spring.
· If home prices increased at the same rate as inflation since 1963, the median price of a typical house in the U.S. would be $177,511, according to a new research report by Clever, a real estate data company.
· In reality, the cost of a typical house in the U.S. is nearly half a million dollars.
· The median price for a home in the U.S. is $412,778, according to Redfin data.
Why home price growth has outpaced inflation
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.
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