Kenny and Lori Fuqua Real Estate Agent

Kenny and Lori Fuqua

NC & SC REALTORS®
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December Home Sales Up After Five-Month Decline

By Helen Adams Realty - January 19, 2024
Canopy Realtor® Association Market Updates Reprinted from December 2023 CRRA Monthly Indicators U.S. existing-home sales rose from a 13-year low, climbing 0.8% from the previous month and breaking a five-month streak in which sales declined, according to the National Association of REALTORS® (NAR). Despite the increase, sales were down 7.3% compared to the same period last year, as affordability
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IntroLend Monthly Mortgage Outlook - January 2024

By - January 18, 2024
As sentiment continues to change on when the Fed will begin their rate cuts, we’re still seeing rates a good bit down from the highest point in 2023. Regardless of when those rate cuts come to fruition, things are moving in the right direction. If you’ve been on the fence as a buyer, now is the time to reassess your budget and see what you’ll qualify for in this improving rate environment. Further
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Existing Home Sales Slow to Decade-Low Pace

By Helen Adams Realty - December 12, 2023
Canopy Realtor® Association Market Updates Reprinted from November 2023 CRRA Monthly Indicators Low inventory, elevated sales prices, and decades-high interest rates continue to weigh on the housing market, causing sales of existing homes to fall to their slowest pace since August 2010. According to the National Association of REALTORS® (NAR), U.S. existing-home sales declined 4.1% month-over-mo
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IntroLend Monthly Mortgage Outlook | December 2023

By Thomas Baker, IntroLend Carolinas - December 07, 2023
As we head into December, interest rates are at a four-month low, with the bond market (which is the driving factor behind rates) dropping upwards of 50 basis points in recent weeks. In the first week of December, markets are pricing in a 68% chance of us seeing a 100 basis point (or 1%) cut in rates by the Fed over the course of 2024. Fed Chair Powell continues to stress caution, reiterating his
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Home Sales Drop to 13-Year Low While Prices Rise

By Helen Adams Realty - November 14, 2023
Canopy Realtor® Association Market Updates Reprinted from October 2023 CRRA Monthly Indicators U.S. sales of existing homes recently fell to a 13-year low, dropping 2.0% month-over-month and 15.4% year-over-year as of last measure, according to the National Association of REALTORS® (NAR), as surging interest rates and elevated sales prices continue to make homeownership unaffordable for many pro
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IntroLend Monthly Mortgage Outlook | November 2023

By Thomas Baker, IntroLend Carolinas - November 10, 2023
As we enter November, interest rates are the lowest they have been in several weeks. For a while, buyers were flirting with 8% in many scenarios, but at least for the time being, most lenders are almost a half percent lower as we begin the month. October saw the bond market hit 5.00% for the first time in 16 years. The upward trend of the 10-year Treasury, which drives mortgage interest rates, tel
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IntroLend Monthly Mortgage Outlook | October 2023

By Thomas Baker, IntroLend Carolinas - October 12, 2023
Inflation has proven to be more persistent than expected going into October. Paired with jobs data numbers being double the projections, both factors don't bode well for interest rates. However, a shift in tone from Federal Reserve members suggesting a potential delay in further rate hikes through the year has allowed mortgage interest rates to soften slightly. An added layer of uncertainty lies
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Low Inventory Continues Into Fall

By Helen Adams Realty - October 11, 2023
Canopy Realtor® Association Market Updates Reprinted from September 2023 CRRA Monthly Indicators National sales of existing homes recently fell to a 7-month low, as surging borrowing costs, rising sales prices, and limited inventory continue to keep many would-be buyers out of the market. Borrowers have become increasingly sensitive to fluctuations in mortgage rates, which have remained above 7%
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Home Prices Remain High Amid Summer Heat

By Helen Adams Realty - September 11, 2023
Canopy Realtor® Association Market Updates Reprinted from August 2023 CRRA Monthly Indicators Higher mortgage rates, along with elevated sales prices and a lack of housing inventory, have continued to impact market activity during the summer homebuying season. The average 30-year fixed-rate mortgage has remained above 6.5% since May, recently hitting a two-decade high in August, according to Fre
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IntroLend Monthly Mortgage Outlook | September 2023

By Thomas Baker, IntroLend Carolinas - September 08, 2023
As many buyers know by now, rates have risen somewhat in the last month, approaching levels we haven’t seen since 2000. They have since leveled off some as we head into September. The Mortgage Bankers Association reported an increase of 2.3% in new mortgage applications in the final week of August. Some may also be surprised to learn that refinances are up 3% during the same timeframe. It may se
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IntroLend Monthly Mortgage Update | August 2023

By Thomas Baker, IntroLend Carolinas - August 14, 2023
As we enter the third week of August, the markets continue to display a degree of volatility. We saw some initial improvement after the Fed’s last 0.25% rate hike announcement, but in recent weeks the bond market has not performed well. Projections from various members of the Federal Reserve diverge, with some forecasting additional rate hikes in the remaining months of 2023, while some are i
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Mortgage Rates Continue to Impact Summer Market

By Helen Adams Realty - August 14, 2023
Canopy Realtor® Association Market Updates Reprinted from July 2023 CRRA Monthly Indicators Affordability constraints have continued to limit homebuying activity this summer, with existing-home sales falling 3.3% month-over-month nationwide as of last measure, according to the National Association of REALTORS® (NAR). Mortgage rates have approached 7% in recent months, leading many prospective bu
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