We wanted to share with you an update on the Tampa Real Estate Market. Our focus is going to be on the mortgage piece.
1. How Mortgage rates effect you
2. What’s on the horizon
3. Why now is the time to do something
We figured that the best way to update you on the what’s going on in the Tampa Market is to get with our trusted mortgage advisor Kyle Edwards with Iberianbank. He is our go to guy when it comes to mortgages. We not only recommend him, we use him for all our own mortgages. He is always just a call to 813-495-5131 or you can click here to get started with your online application.
Tampa Market Update
Key Points from Video:
Many experts agree that low inventory is an issue and that will continue on into 2020. So for your move uppers who bought that $180k, $200k home a couple/few years ago is now a great time to capitalize and sell and invest that equity into a larger home
Why are global investors moving money into the U.S. dollar and safe instruments like U.S. Bonds? Due to the lingering uncertainty behind the U.S./China trade dispute, global economies slowing, and central banks around the globe cutting interest rates
The outlook for the US economy remains favorable and this action is designed to support that outlook, Fed Chairman Jerome Powell said. Inflation is low and rate cuts are an insurance policy against potential speed bumps for the economy, including rising trade tensions and a slowdown in global growth which is a concern. In global markets there is already in some cases negative interest rates, and the US is the cleanest shirt in a pile of dirty laundry from an economy standpoint and the Fed wants to keep it that way, so further rate cuts are probable.
So what’s the big deal about an inverted yield curve? In short a yield curve inversion is a big deal because it’s awfully good at predicting oncoming recessions. In fact, it’s accurately predicted the last seven re_cessions. And with recessions typically come very low interest rates.
Rates are the lowest they have ever been when recession fears hit. So what happens to mortgage rates after a yield curve inversion? They drop about half of where they were at pre-recession levels. So if rates are in the 3.875% we are looking at sub 2.0% …
That seems unlikely in today’s world, but keep in mind that a Danish bank is already offering negative mortgage rates … Former Fed chief Alan Greenspan says, “There is no barrier for U.S. T_Treasury yields going below zero.” US Treasuries don’t dictate mortgage rates, but mortgage rates often follow the same trends. If Treasuries go negative, we could realistically see 2% rates
or lower.
We believe if you have watched the video, you will see why Kyle is our preferred lender. His knowledge of the mortgage industry is far above the typical mortgage person. He really cares for you not only during the process, but long after. Whether you are purchasing in Tampa, Wesley Chapel, Apollo Beach or anywhere else in the Tampa Bay Area, he is ready to assist you.
Have a questions or concern? Nick, Cindy & Nicholas Davis with RE/MAX Premier Group are here to assist you with all your Real Estate Needs. We are always available at 813-300-7116 to answer your questions or you can simplyย click here and we will be in touch with you shortly. With Team Davis assisting you with your purchase or sale here in the Tampa Area, you will have all three of us working for you!
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(all data current as of
4/28/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.