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Understanding Home Prices and Raleigh Mortgage Rates: Key Questions to Consider

July 6, 2023 by Kevin Martini

Gathering reliable information about the housing market is essential if you’re looking for a home. With various sources providing insights on home prices and Raleigh mortgage rates, it can be challenging to separate facts from speculation. Let’s analyze the data and address the top two questions you should ask yourself when deciding on home prices and mortgage rates.

Where Do I Think Home Prices Are Heading?

Expert Insights on Home Price Trends

One valuable resource for understanding home price trends is the Home Price Expectation Survey (HPES) conducted by Pulsenomics. The survey gathers opinions from a panel of over one hundred economists, real estate experts, and market strategists. According to the latest release, experts foresee a slight depreciation this year. However, it’s crucial to consider the broader context.

The worst declines in home prices are already in the past, and many markets are experiencing an appreciation in prices. Contrary to earlier predictions of a market crash, the HPES indicates a mere 0.37% depreciation in 2023, which suggests a stable market.

The HPES forecasts a positive trend in home price appreciation, particularly in 2024 and beyond. Buying a home now could lead to future value growth and increased home equity. Waiting may result in higher costs down the line.

Where Do I Think Mortgage Rates Are Heading?

Evaluating Raleigh Mortgage Rate Projections

Over the past year, mortgage rates have risen due to economic uncertainties and inflationary pressures. However, recent reports indicate that inflation has moderated from its peak, which bodes well for the market and mortgage rates.

When inflation cools, Raleigh mortgage rates typically respond by falling. Some experts anticipate a slight pullback in mortgage rates over the next few quarters, potentially settling around an average of 5.5% to 6%.

It’s important to note that predicting mortgage rates with absolute certainty is challenging, as numerous factors can influence their fluctuations. Nevertheless, considering various outcomes can provide valuable insights when making a decision.

Exploring Possible Outcomes

If you buy now and Raleigh mortgage rates remain stable:

Purchasing a home now is prudent since home prices are projected to appreciate over time, enabling you to benefit from rising values.

If you buy now and mortgage rates decrease (as projected):

Buying now is still advantageous as you secure the home before prices increase. If rates drop, you can also consider refinancing for lower mortgage costs.

If you buy now and mortgage rates increase:

In this scenario, buying now becomes an excellent decision as you lock in a lower mortgage rate and avoid potential price increases.

Certified Mortgage Advisor and Raleigh Mortgage Broker Kevin Martini Conclusion

Staying informed about home prices and Raleigh mortgage rates is crucial when contemplating a home purchase. While the future remains uncertain, insights from experts can guide your decision-making process. Contact a mortgage strategist with Martini Mortgage Group because they can provide expert opinions and advice specific to your local real estate and mortgage market. 

Regardless of your experience level, the first step to homeownership is the home loan, not the home.  By deploying the home loan first strategy, you will not only have price and cost clarity before you fall in love with the perfect home, but you will have the certainty that you can afford it.

About Kevin Martini

Kevin Martini, empowers families to create generational wealth through real estate with the perfect mortgage strategy.

His proprietary system has revolutionized consumer-lender relationships in the mortgage industry, and as a result, he has originated over a billion dollars in home loans since 2006. Kevin’s passion and intentionality lie in constantly pursuing perfect mortgage solutions that align with clients’ fluctuating personal circumstances and market conditions. He is genuinely dedicated to helping clients make intelligent financial decisions to facilitate wealth growth, future planning, and progress toward a debt-free retirement.

Kevin has been recognized as one of the top 50 Mortgage Originators in the country. His contributions to the field have earned him features in esteemed publications such as Forbes. In addition, he frequently shares his knowledge at real estate and mortgage conferences. He also hosts the Martini Mortgage Podcast, which provides up-to-date, factual content on real estate and mortgages.  His Instagram and YouTube channels serve as platforms for various content, including breaking news, emerging stories, and innovative strategies curated to provide a comprehensive understanding of the real estate and mortgage arena.

Kevin Martini | NMLS 143962 | Certified Mortgage Advisor | Martini Mortgage Group at Gold Star Mortgage Financial Group, Corporation | NMLS # 3446 | 507 N Blount St, Raleigh, NC 27604 | (919) 238-4934 | www.MartiniMortgageGroup.com | [email protected] | Equal Housing Lender

Filed Under: Certified Mortgage Advisor, Home Loan Rates, Home Values, Housing Market, Kevin Martini, Mortgage, Mortgage Broker, Raleigh, Raleigh Mortgage, Real Estate, real estate market Tagged With: Home Prices, Kevin Martini, mortgage rates, Raleigh, Raleigh Mortgage Broker

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    Martini Mortgage Group at Gold Star Mortgage Financial Group, Corporation | NMLS # 3446 | For licensing information go to: www.nmlsConsumerAccess.org and/or www.GoldStarFinancial.com Please review our Disclosures & Licensing information | Gold Star Mortgage Financial Group Corporation has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture or any other government agency. Equal Housing Lender. For further information about Gold Star Mortgage Financial Group, Corporation, please visit our website at www.GoldStarFinancial.com. Receipt of application does not represent an approval for financing or interest rate guarantee. Applicant subject to credit, acceptable appraisal, title, and underwriting approval. Not all applicants will be approved. Other terms and conditions apply. Contact Gold Star Mortgage Financial Group, Corporation for more information and up-to-date rates.

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