Snoqualmie Pass Real Estate, Mortgage, and the Economy – Values in 2017?

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com
Nothing can chill the real estate sector in the U.S. like rising interest rates. So is the Federal Reserve’s expected move to boost borrowing costs likely to dent the housing market?
Don’t bet on it. Experts predict that housing prices will continue to rise in many markets around the country next year even as mortgage rates drift up. The Federal Open Market Committee -- the panel at the central bank that sets monetary policy -- will hold a two-day meeting next week, with most forecasters expecting 0.25 basis point increase in short-term rates. Market watchers expect the Fed to hike rates several times next year is the economy stays on its current course. 
But that small initial increase, which would be the first upward tilt in rates since December of 2015, is unlikely to reduce demand for housing. Home prices have continued to rebound this year. The Federal Housing Finance Agency (FHFA) House Price Index posted a 6 percent gain in the third quarter on a year-over-year basis.  
Economist Andres Carbacho-Burgos of Moody’s Analytics expects nationwide housing prices as measured by that index to rise an average of 4 percent in 2017. Steve Hovland of online real estate management firm HomeUnion projects a similar uptick, while noting that some markets that have seen have seen the sharpest price increases during the recovery, such as New York, Los Angeles and Austin, Texas, could see a dip.
Mortgage rates have already started to creep up as house hunters ponder the impact of an imminent Fed hike. “Since early November, you have had a significant jump in purchase mortgage applications,” Carbacho-Burgos said. “A lot of that has to do with the expectations effect. People think `Oh my God, interest rates are increasing and we better purchase now before mortgage interest rates go higher.’”
Despite that perception, borrowing costs remain exceptionally modest by historical standards, while the average mortgage payment around the U.S. is still significantly below its level before the housing crash, Capital Economics notes. The average 30-year fixed rate mortgage is 4.04 percent, up two basis points over the last week, the lowest level they have been since 2014. Rates last month were 3.51 percent. That compares with an average of 6.41 percent since 1990, according to the Mortgage Bankers Association.
“Buyers that have committed to a home purchase are unlikely to be swayed by the increase in interest rates,” Hovland said in a statement. “In fact, the change in the monthly mortgage obligation is approximately $65 for a median-priced home. The lower end of the market can absorb that increase. However, sellers are going to need to bear some of the cost of capital increase at the top of the market.”
Another support for the housing sector is the U.S. economy, which continues to see modest growth. Unemployment in November fell to 4.6 percent, its lowest level in more than a decade. Wage growth, which has been stagnant for years, has also ticked up this year.
“The employment picture has brightened considerably,” Bob Walters, chief economist with Quicken Loans, said. “There is a ton of pent-up demand over the last eight, nine years.”
Millennials, America’s largest generation, are also starting to enter the housing market and in 2017 will make up roughly 40 percent of first-time home buyers, according to Hovland.
Still, finding an affordable home in many markets remains a challenge because of a lack of inventory, according to realtors’ associations in those markets. For people buying their first homes, “It’s very difficult to find a product for them that they can afford,” said Lane McCormack, president of the Atlanta Board of Realtors, adding that starter homes in her area can fetch $300,000 to $400,000.
Christopher Zoller, chairman-elect of the Miami Association of Realtors, said sellers of homes priced between $300,000 and $600,000 are getting multiple offers while sellers of luxury properties are having difficulty attracting buyers. “We see some buyer reluctance at the high-price end and we see some seller intransigence,” he said.
Tight credit conditions are also making it hard some house hunters to get a mortgage. Although average down payments are not much higher these days than in the past, lenders require borrowers to have good credit.
 Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Values in 2017?

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com
Nothing can chill the real estate sector in the U.S. like rising interest rates. So is the Federal Reserve’s expected move to boost borrowing costs likely to dent the housing market?
Don’t bet on it. Experts predict that housing prices will continue to rise in many markets around the country next year even as mortgage rates drift up. The Federal Open Market Committee -- the panel at the central bank that sets monetary policy -- will hold a two-day meeting next week, with most forecasters expecting 0.25 basis point increase in short-term rates. Market watchers expect the Fed to hike rates several times next year is the economy stays on its current course. 
But that small initial increase, which would be the first upward tilt in rates since December of 2015, is unlikely to reduce demand for housing. Home prices have continued to rebound this year. The Federal Housing Finance Agency (FHFA) House Price Index posted a 6 percent gain in the third quarter on a year-over-year basis.  
Economist Andres Carbacho-Burgos of Moody’s Analytics expects nationwide housing prices as measured by that index to rise an average of 4 percent in 2017. Steve Hovland of online real estate management firm HomeUnion projects a similar uptick, while noting that some markets that have seen have seen the sharpest price increases during the recovery, such as New York, Los Angeles and Austin, Texas, could see a dip.
Mortgage rates have already started to creep up as house hunters ponder the impact of an imminent Fed hike. “Since early November, you have had a significant jump in purchase mortgage applications,” Carbacho-Burgos said. “A lot of that has to do with the expectations effect. People think `Oh my God, interest rates are increasing and we better purchase now before mortgage interest rates go higher.’”
Despite that perception, borrowing costs remain exceptionally modest by historical standards, while the average mortgage payment around the U.S. is still significantly below its level before the housing crash, Capital Economics notes. The average 30-year fixed rate mortgage is 4.04 percent, up two basis points over the last week, the lowest level they have been since 2014. Rates last month were 3.51 percent. That compares with an average of 6.41 percent since 1990, according to the Mortgage Bankers Association.
“Buyers that have committed to a home purchase are unlikely to be swayed by the increase in interest rates,” Hovland said in a statement. “In fact, the change in the monthly mortgage obligation is approximately $65 for a median-priced home. The lower end of the market can absorb that increase. However, sellers are going to need to bear some of the cost of capital increase at the top of the market.”
Another support for the housing sector is the U.S. economy, which continues to see modest growth. Unemployment in November fell to 4.6 percent, its lowest level in more than a decade. Wage growth, which has been stagnant for years, has also ticked up this year.
“The employment picture has brightened considerably,” Bob Walters, chief economist with Quicken Loans, said. “There is a ton of pent-up demand over the last eight, nine years.”
Millennials, America’s largest generation, are also starting to enter the housing market and in 2017 will make up roughly 40 percent of first-time home buyers, according to Hovland.
Still, finding an affordable home in many markets remains a challenge because of a lack of inventory, according to realtors’ associations in those markets. For people buying their first homes, “It’s very difficult to find a product for them that they can afford,” said Lane McCormack, president of the Atlanta Board of Realtors, adding that starter homes in her area can fetch $300,000 to $400,000.
Christopher Zoller, chairman-elect of the Miami Association of Realtors, said sellers of homes priced between $300,000 and $600,000 are getting multiple offers while sellers of luxury properties are having difficulty attracting buyers. “We see some buyer reluctance at the high-price end and we see some seller intransigence,” he said.
Tight credit conditions are also making it hard some house hunters to get a mortgage. Although average down payments are not much higher these days than in the past, lenders require borrowers to have good credit.
 Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Values in 2017?

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com
Nothing can chill the real estate sector in the U.S. like rising interest rates. So is the Federal Reserve’s expected move to boost borrowing costs likely to dent the housing market?
Don’t bet on it. Experts predict that housing prices will continue to rise in many markets around the country next year even as mortgage rates drift up. The Federal Open Market Committee -- the panel at the central bank that sets monetary policy -- will hold a two-day meeting next week, with most forecasters expecting 0.25 basis point increase in short-term rates. Market watchers expect the Fed to hike rates several times next year is the economy stays on its current course. 
But that small initial increase, which would be the first upward tilt in rates since December of 2015, is unlikely to reduce demand for housing. Home prices have continued to rebound this year. The Federal Housing Finance Agency (FHFA) House Price Index posted a 6 percent gain in the third quarter on a year-over-year basis.  
Economist Andres Carbacho-Burgos of Moody’s Analytics expects nationwide housing prices as measured by that index to rise an average of 4 percent in 2017. Steve Hovland of online real estate management firm HomeUnion projects a similar uptick, while noting that some markets that have seen have seen the sharpest price increases during the recovery, such as New York, Los Angeles and Austin, Texas, could see a dip.
Mortgage rates have already started to creep up as house hunters ponder the impact of an imminent Fed hike. “Since early November, you have had a significant jump in purchase mortgage applications,” Carbacho-Burgos said. “A lot of that has to do with the expectations effect. People think `Oh my God, interest rates are increasing and we better purchase now before mortgage interest rates go higher.’”
Despite that perception, borrowing costs remain exceptionally modest by historical standards, while the average mortgage payment around the U.S. is still significantly below its level before the housing crash, Capital Economics notes. The average 30-year fixed rate mortgage is 4.04 percent, up two basis points over the last week, the lowest level they have been since 2014. Rates last month were 3.51 percent. That compares with an average of 6.41 percent since 1990, according to the Mortgage Bankers Association.
“Buyers that have committed to a home purchase are unlikely to be swayed by the increase in interest rates,” Hovland said in a statement. “In fact, the change in the monthly mortgage obligation is approximately $65 for a median-priced home. The lower end of the market can absorb that increase. However, sellers are going to need to bear some of the cost of capital increase at the top of the market.”
Another support for the housing sector is the U.S. economy, which continues to see modest growth. Unemployment in November fell to 4.6 percent, its lowest level in more than a decade. Wage growth, which has been stagnant for years, has also ticked up this year.
“The employment picture has brightened considerably,” Bob Walters, chief economist with Quicken Loans, said. “There is a ton of pent-up demand over the last eight, nine years.”
Millennials, America’s largest generation, are also starting to enter the housing market and in 2017 will make up roughly 40 percent of first-time home buyers, according to Hovland.
Still, finding an affordable home in many markets remains a challenge because of a lack of inventory, according to realtors’ associations in those markets. For people buying their first homes, “It’s very difficult to find a product for them that they can afford,” said Lane McCormack, president of the Atlanta Board of Realtors, adding that starter homes in her area can fetch $300,000 to $400,000.
Christopher Zoller, chairman-elect of the Miami Association of Realtors, said sellers of homes priced between $300,000 and $600,000 are getting multiple offers while sellers of luxury properties are having difficulty attracting buyers. “We see some buyer reluctance at the high-price end and we see some seller intransigence,” he said.
Tight credit conditions are also making it hard some house hunters to get a mortgage. Although average down payments are not much higher these days than in the past, lenders require borrowers to have good credit.
 Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Ski Area Opens with lots of Snow!!!

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

SNOQUALMIE PASS, Wash. - It is the kind of snowy Saturday that skiers in the Pacific Northwest will happily take, experts and novices alike.
Vicente Gonzalez came from Seattle to hit the slopes at Snoqualmie Ski Resort.

© 2016 Cox Media Group.

We asked him if it was his first time learning to ski. 
"Yeah, yeah," he replied.
But 13-year-old Arthur Antonchik said Saturday was not his first day at the Summit at Snoqualmie this season.
"I was here yesterday," he said. "It was better conditions and you could see down the hill."
Basking in this bounty of snow are the people who run the ski resort. They estimate 78 inches of snow have fallen so far this season, and it's not even winter yet.
The snow is especially sweet because they remember all too well how dry it was in 2014.
"Two years ago, we only had a 104 inches," said Guy Lawrence, marketing director for 21 years. "We're getting close to beating that probably by the next week or two."
Good as this is, Lawrence says he is a realist about snowfall here at just 3,000 feet.
"January can be a little bit on the dry side," he conceded. "Not always; there are exceptions."
But that isn't on the minds of those skiing and snowboarding here. This has been a Saturday in December to savor.
"Yeah, we're visiting, my husband and I," said Kristy Huffman, from Akron, Ohio.  "It's my birthday today. We came skiing. There aren't any mountains in Ohio, so this is our entrance into mountain skiing."
It really hasn't stopped snowing since early afternoon.  And that is good news for night skiers since the Summit is open Saturday night.
But what a difference an hour makes.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Ski Area Opens with lots of Snow!!!

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

SNOQUALMIE PASS, Wash. - It is the kind of snowy Saturday that skiers in the Pacific Northwest will happily take, experts and novices alike.
Vicente Gonzalez came from Seattle to hit the slopes at Snoqualmie Ski Resort.

© 2016 Cox Media Group.

We asked him if it was his first time learning to ski. 
"Yeah, yeah," he replied.
But 13-year-old Arthur Antonchik said Saturday was not his first day at the Summit at Snoqualmie this season.
"I was here yesterday," he said. "It was better conditions and you could see down the hill."
Basking in this bounty of snow are the people who run the ski resort. They estimate 78 inches of snow have fallen so far this season, and it's not even winter yet.
The snow is especially sweet because they remember all too well how dry it was in 2014.
"Two years ago, we only had a 104 inches," said Guy Lawrence, marketing director for 21 years. "We're getting close to beating that probably by the next week or two."
Good as this is, Lawrence says he is a realist about snowfall here at just 3,000 feet.
"January can be a little bit on the dry side," he conceded. "Not always; there are exceptions."
But that isn't on the minds of those skiing and snowboarding here. This has been a Saturday in December to savor.
"Yeah, we're visiting, my husband and I," said Kristy Huffman, from Akron, Ohio.  "It's my birthday today. We came skiing. There aren't any mountains in Ohio, so this is our entrance into mountain skiing."
It really hasn't stopped snowing since early afternoon.  And that is good news for night skiers since the Summit is open Saturday night.
But what a difference an hour makes.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Ski Area Opens with lots of Snow!!!

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

SNOQUALMIE PASS, Wash. - It is the kind of snowy Saturday that skiers in the Pacific Northwest will happily take, experts and novices alike.
Vicente Gonzalez came from Seattle to hit the slopes at Snoqualmie Ski Resort.

© 2016 Cox Media Group.

We asked him if it was his first time learning to ski. 
"Yeah, yeah," he replied.
But 13-year-old Arthur Antonchik said Saturday was not his first day at the Summit at Snoqualmie this season.
"I was here yesterday," he said. "It was better conditions and you could see down the hill."
Basking in this bounty of snow are the people who run the ski resort. They estimate 78 inches of snow have fallen so far this season, and it's not even winter yet.
The snow is especially sweet because they remember all too well how dry it was in 2014.
"Two years ago, we only had a 104 inches," said Guy Lawrence, marketing director for 21 years. "We're getting close to beating that probably by the next week or two."
Good as this is, Lawrence says he is a realist about snowfall here at just 3,000 feet.
"January can be a little bit on the dry side," he conceded. "Not always; there are exceptions."
But that isn't on the minds of those skiing and snowboarding here. This has been a Saturday in December to savor.
"Yeah, we're visiting, my husband and I," said Kristy Huffman, from Akron, Ohio.  "It's my birthday today. We came skiing. There aren't any mountains in Ohio, so this is our entrance into mountain skiing."
It really hasn't stopped snowing since early afternoon.  And that is good news for night skiers since the Summit is open Saturday night.
But what a difference an hour makes.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com