Real Estate News 12/22/2023

Today’s News Synopsis:

After a year full of record-high interest rates and home prices, experts say there are signs of improvement for the housing market in 2024.

In The News:

CNBC – “Here’s what to expect in 2024 if you want to buy a home” (12-15-2023)

“In December, the average mortgage rates dropped below 7% for the first time since August and after an 8% peak in October, which pushed housing costs to the highest level since 2000”

Homelight –  “Can You Buy Someone’s Mortgage from the Bank? Exploring Mortgage Assumption” (12-19-2023)

“Buying, or rather assuming a mortgage, is a potential solution for savvy home shoppers looking for homeownership options.”

CNBC  –  “3 year-end investment tax tips from top-ranked financial advisors” (12-19-2023)

“Year’s end is a good time to take stock of investment-related tax strategies that may have been left on the table.”

Forbes Advisor –  “Mortgage Rates Today: December 20, 2023—Rates Move Down” (12-20-2023)

“The current average mortgage rate on a 30-year fixed mortgage is 7.18% with an APR of 7.09%, according to Curinos. The 15-year fixed mortgage has an average rate of 6.31% with an APR of 6.25%. On a 30-year jumbo mortgage, the average rate is 7.23% with an APR of 7.16%.”

Fox Business –  “US economist predicts 2024 will bring ‘biggest crash of our lifetime'”(12-19-2023)

“As the clock ticks closer to 2024, one outspoken economist is making a dire predication about the markets in the new year”