Bill Washburn Real Estate Agent

Bill Washburn

NC REALTOR®
License# 291649
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704. 309. 9613

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Low Inventory Continues Into Fall

By Helen Adams Realty - October 11, 2023
Canopy Realtor® Association Market Updates Reprinted from September 2023 CRRA Monthly Indicators National sales of existing homes recently fell to a 7-month low, as surging borrowing costs, rising sales prices, and limited inventory continue to keep many would-be buyers out of the market. Borrowers have become increasingly sensitive to fluctuations in mortgage rates, which have remained above 7%
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Home Prices Remain High Amid Summer Heat

By Helen Adams Realty - September 11, 2023
Canopy Realtor® Association Market Updates Reprinted from August 2023 CRRA Monthly Indicators Higher mortgage rates, along with elevated sales prices and a lack of housing inventory, have continued to impact market activity during the summer homebuying season. The average 30-year fixed-rate mortgage has remained above 6.5% since May, recently hitting a two-decade high in August, according to Fre
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IntroLend Monthly Mortgage Outlook | September 2023

By Thomas Baker, IntroLend Carolinas - September 08, 2023
As many buyers know by now, rates have risen somewhat in the last month, approaching levels we haven’t seen since 2000. They have since leveled off some as we head into September. The Mortgage Bankers Association reported an increase of 2.3% in new mortgage applications in the final week of August. Some may also be surprised to learn that refinances are up 3% during the same timeframe. It may se
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IntroLend Monthly Mortgage Update | August 2023

By Thomas Baker, IntroLend Carolinas - August 14, 2023
As we enter the third week of August, the markets continue to display a degree of volatility. We saw some initial improvement after the Fed’s last 0.25% rate hike announcement, but in recent weeks the bond market has not performed well. Projections from various members of the Federal Reserve diverge, with some forecasting additional rate hikes in the remaining months of 2023, while some are i
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Mortgage Rates Continue to Impact Summer Market

By Helen Adams Realty - August 14, 2023
Canopy Realtor® Association Market Updates Reprinted from July 2023 CRRA Monthly Indicators Affordability constraints have continued to limit homebuying activity this summer, with existing-home sales falling 3.3% month-over-month nationwide as of last measure, according to the National Association of REALTORS® (NAR). Mortgage rates have approached 7% in recent months, leading many prospective bu
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IntroLend Monthly Mortgage Update | July 2023

By Thomas Baker, IntroLend Carolinas - July 12, 2023
Over the past few weeks, we’ve seen an uptick in mortgage rates. The Federal Reserve has continued to echo a willingness to raise rates again before the end of the year. This increase will come as inflation continues to show a stubborn immunity to higher rates. The Fed has been consistent in its messaging, however, the market, namely investors, has mostly disregarded these statements. Recently, w
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Housing Demand Continues to Outpace Supply

By Helen Adams Realty - July 11, 2023
Canopy Realtor® Association Market Updates Reprinted from June 2023 CRRA Monthly Indicators Temperatures are heating up, yet the U.S. housing market remains cooler than usual for this time of year due to a combination of low inventory and higher borrowing costs, which have restricted market activity going into the summer homebuying season. According to the latest data from the National Associati
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IntroLend Monthly Mortgage Outlook | June 2023

By Thomas Baker, IntroLend Carolinas - June 14, 2023
As expected, the Fed declined to raise rates in June. CPI Inflation data this month, which excludes volatile energy and food prices, showed inflation rose at an annual pace of 4%, the lowest in over two years. While the Fed did not raise rates in June, there are indications they will do so by 0.25% at both their July and September meetings. 2024 may be another refinance boom as experts are predic
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Sales Cool As Summer Heat Approaches

By Helen Adams Realty - June 14, 2023
Canopy Realtor® Association Market Updates Reprinted from May 2023 CRRA Monthly Indicators Existing-home sales slid for the second consecutive month, falling 3.4% nationwide as of last measure, according to the National Association of REALTORS® (NAR), as higher interest rates continue to impact buyer affordability. Sales are down 23% compared to the same period a year ago, while contract signing
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IntroLend Monthly Mortgage Outlook | May 2023

By Thomas Baker, IntroLend Carolinas - May 15, 2023
For the most part, mortgage rates are holding steady after the Fed’s quarter point hike this month. There is a sentiment that we may have reached the peak for rates, but the Fed has made it clear that they will continue to monitor inflation and adjust accordingly if things don’t improve in that department. We may be nearing the light at the end of the tunnel, but we also should not be surprised if
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Strong Competition Continues as Inventory Stays Low

By Helen Adams Realty - May 12, 2023
Canopy Realtor® Association Market Updates Reprinted from April 2023 CRRA Monthly Indicators U.S. existing-home sales declined 2.4 percent month-over-month as of last measure, according to the National Association of REALTORS® (NAR), reversing February’s sales gain of 14.5%. Fluctuations in mortgage interest rates have caused buyers to pull back, with pending sales dropping 5.2% month-over-month
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IntroLend Monthly Mortgage Outlook | April 2023

By Thomas Baker, IntroLend Carolinas - April 13, 2023
As of the release of CPI inflation data on April 12th, inflation has fallen to its lowest level since May 2021. These numbers came in just below predictions showing that consumer prices rose 5% since March of this year, which is down from 6% in February, but still a long way off from the Fed’s goal of 2%. The inflation data released notably excludes the volatile costs of food and fuel but does sho
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