“Mortgage rates low, housing prices high for three years”

CoreLogic has released its Three-Year Housing and Mortgage Outlook and the report says millennials will add substantial demand for housing, while finding low rates and high prices.

“Low mortgage rates, growing numbers of first-time buyers, and gradually rising home values are three housing market trends we expect during the next three years.”

Mortgage rates
Tailwind
Home Prices

Here is a link to the full Corelogic report: Mortgage and Housing Market Outlook

Conforming Mortgage Loan Limits raised for 2021
Mortgage Markets Return to Normal
How Marblehead’s 2021 Property Tax Rate is Calculated

Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®

Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205

www.OliverReports.com
Andrew.Oliver@SothebysRealty.com

Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated

“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReports.com. He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Salem, Beverly, Lynn and Swampscott.”

Open Houses Sunday December 6

Just a handful of Open Houses again – but there again there are not many properties on the market. (more…)

Conforming Mortgage Loan Limits raised for 2021

The Federal Housing Finance Agency (FHFA) has announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2021. In most of the U.S., the 2021 maximum conforming loan limit for one-unit properties will be $548,250, an increase of 7.4% from $510,400 in 2020. FHFA has determined that the average U.S. home value increased by that amount between the third quarters of 2019 and 2020.

Essex County
The first table shows the limit both nationally and in Essex County in recent years, as well as the maximum home price that would qualify for a conforming loan. Since 2012 the limit has increased 31% nationally and 55% in Essex County.

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Massachusestts (more…)

Open Houses weekend November 28/29

Rather like the turkey by this stage, it’s slim pickings for this weekend’s Open Houses. This list will be updated on Sunday morning (because of the quirks of MLS some of the Sunday Open Houses don’t show up on Saturday.)

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Click on these links for details:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House
Lynn Open Houses

Mortgage Rates: Another new low
Goodbye Boston, Hello Marblehead
Why now is a GREAT time to sell (more…)