Boston Condos for Sale and Apartments for Rent
Will there be a Boston condo buying surge?
Will there be a Boston condo buying surge? Perhaps yes, If Boston condo for sale mortgage rates stay below 7%, I think we will we see a real estate surge.
I’ve been working with a client who’s looking to buy a house in the $900,000 – $1,000,000 range, every open house we go to is packed with buyers
Peace be with you
Ford Realty Beacon Hill – Condo for Sale Office
Boston condos for sale – Ford Realty Inc
Updated: Boston Condos for Sale Blog 2025
John Ford Boston Beacon Hill Condo Broker 137 Charles Street Boston, MA. 02114
Looking for a Boston Back Bay or Beacon Hill condo?
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Will there be a Boston condo buying surge?
Rates, pricing movement could be setting up a mortgage surge
Downward trends, potential interest rate cuts poised to boost affordability
Housing affordability is at a six-month high, according to Intercontinental Exchange’s Andy Walden. Mortgage rates are down 1.5 percentage points from October’s peak and rates are expected to keep falling if the Federal Reserve cuts interest rates, as it has signaled it’ll likely do soon.
Mortgage rates for a 30-year fixed-rate mortgage are hovering around 6.5 percent. That means purchasing the average home requires 34 percent of median income.
But each reduction in rates by a quarter point brings down mortgage payments on the average home by roughly $60. If rates fall to 5.5 percent, the payment-to-income ratio would drop to 31 percent. That would also boost the number of homeowners “in the money” for a mortgage refinancing from 2.5 million to 7.2 million, ICE Mortgage estimates.
There’s also good news for consumers on the home price front, as price appreciation slowed to 3.6 percent in July, according to ICE Mortgage.
Don’t wait for a Boston real estate crash
Boston condos for sale and the Boston line
Nevertheless, affordability remains challenging in a majority of the nation’s 100 biggest markets including downtown Boston, according to ICE Mortgage, as monthly mortgage payments remain 10 percentage points above historical averages.
Updated: Boston Real Estate Blog 2024
Boston Beacon Hill Condos for Sale
New Update 2024
Due to the new MLS rules we can now list your Beacon Hill condo for 2%. Our fees are lower than Redfin ! More info call 617-595-3712.
Updated: Boston Real Estate Blog 2024
Condo Broker 137 Charles St. Boston, MA 02114
Visit our office at 137 Charles Street Rear, Beacon Hill MA 02114
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Beacon Hill Condos for Sale
Ford Realty Beacon Hill – Condo for Sale Office
