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How Global Uncertainty Is Impacting Mortgage Rates If you’re thinking about buying or selling a home, you’ll want to keep a pulse on what’s happening with mortgage rates. Rates have been climbing in recent months, especially since January of this year. And just a few weeks ago, the 30-year fixed mortgage rate from Freddie Mac approached 4% for the first time since May of 2019. But that climb has dropped slightly over the past few weeks (see graph below): The recent decline in mortgage rates is primarily due to growing uncertainty around geopolitical tensio ..read more

 What’s happening in the Sun Valley real estate market? The inventory level of residential property is down 28% over this time last year, which has contributued to lower pending sales and closed deals.  It’s a fundamental economic principle that when demand exceeds supply, prices tend to rise. The median price of a residential property in the Sun Valley MLS is now $770,000, up 18% over last year. Those properties are selling at 100% of the asking price, or in some cases, above.    The supply of vacant residential land is also down and prices are following the typical econom ..read more

The Top Indicator if You Want To Know Where Mortgage Rates Are Heading Mortgage rates have increased significantly since the beginning of the year. Each Thursday, Freddie Mac releases its Primary Mortgage Market Survey. According to the latest survey, the average 30-year fixed-rate mortgage has risen from 3.22% at the start of the year to 3.55% as of last week. This is important to note because any increase in mortgage rates changes what a purchaser can afford. To give you an idea of how rising mortgage rates impact your purchasing power, see the table below: How Can You Know ..read more

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Expert Insights on the 2022 Housing Market As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022. Odeta Kushi, Deputy Chief Economist, First American: “Consensus forecasts put rates at about 3.7% by the end of next year. So, that’s still historically low, but certainly higher than they are today.” Danielle Hale, Chief Ec ..read more

  THE HUNGER COALITION – DOUBLE YOUR DONATION There was a food crisis in Blaine County well before COVID-19 hit town. We have a high cost of living here, a lack of affordable housing and wages that have not kept pace with living expenses. The Hunger Coalition has is now serving twice as many people as before the Pandemic, nearly 1 in 3 local folks.  This year they anticipate feeding 500 families over the holidays. There is an anonymous local organization which will double any gift you make to The Hunger Coalition up to a total of $5,000. It’s easy to make a donation. Go to: TheHunge ..read more