Realty World - Sierra PropertiesLicense #: 00319644

Realty World - Sierra PropertiesLicense #: 00319644

Realty World - Sierra Properties's blog

Buyers Moving Farther Than Ever in Search of Affordability

More people are expanding their home search away from urban centers and toward smaller towns and rural areas, NAR data shows

House hunters have been expanding the scope of their home search over the past year, moving a median of 50 miles away from their previous property—a record distance, according to the National Association of REALTORS®’ 2022 Profile of Home Buyers and Sellers. The historical average is about 15 miles.

Buyers Embrace Adjustable Mortgages as Rates Surpass 7%

With the rate for a 30-year mortgage rising to 7.08% this week—the highest average since April 2002, according to Freddie Mac—the average monthly loan payment is now $1,000 more than a year ago, Nadia Evangelou, senior economist and director of forecasting for the National Association of REALTORS®, writes on the Economists’ Outlook blog.

Here's Just How Difficult It's Getting for Home Buyers

Mortgage rates, now at a 20-year high, combined with inflation and stock market volatility are causing housing markets to soften quickly. The next several months will be a critical test for the economy, experts say.

Home Loan Interest Rates Inch Closer to 7%

The higher rates are prompting the housing market to drastically slow: Pending home sales fell 24% last month compared to last year, and existing-home sales were down 20% annually in August.

“The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” says Sam Khater, Freddie Mac’s chief economist. He adds that home shoppers would be wise to shop around.

Mortgage Rates Jump Even Higher After Fed Hike

After the Federal Reserve raised its key short-term benchmark rate by another three-quarters of a percentage point on Wednesday, the average for the 30-year fixed-rate mortgage climbed to its highest level in 14 years, remaining above 6% and hitting more home buyers’ pocketbooks. It’s the fifth time this year the Fed has taken aggressive action to try to tame 40-year-high inflation.

Experts: Buyers Should Shop Around for a Mortgage as Rates Rise

As mortgage rates surge and remain volatile, it’s becoming increasingly necessary for home buyers to shop around for a loan to find savings. According to Freddie Mac, borrowers potentially could save an average of $1,500 over the life of a loan by gathering one additional rate quote from a lender. And borrowers could save even more by gathering five different quotes from lenders—up to $3,000, Freddie Mac research shows.

Home Loan Interest Rates 'Maintain their Ascent'

“Mortgage rates rose again as markets continue to manage the prospect of more aggressive monetary policy due to elevated inflation,” said Sam Khater, Freddie Mac’s Chief Economist. “Not only are mortgage rates rising but the dispersion of rates has increased, suggesting that borrowers can meaningfully benefit from shopping around for a better rate. Our research indicates that borrowers could save an average of $1,500 over the life of a loan by getting one additional rate quote and an average of about $3,000 if they get five quotes.”


Governor Gavin Newsom announced last year that the White House has approved a Presidential Emergency Declaration for Direct Federal Assistance to bolster the response to the Caldor Fire in El Dorado, Amador, Alpine and Placer counties.

We have found an experienced lender offering home loan financing to assist victims of this Declared Major Disaster Area. Please review their information shown below for general details. Contact Real Estate Financial Services, Inc. or us if you or someone you know would like more information.

Mortgage Rates Rise Again, Nearing Affordability Threshold

On the first day of September, mortgage rates continued to rise, following the trend of the 10-year Treasury yield. According to Freddie Mac, the 30-year fixed mortgage rate inched up to 5.66% from 5.55% the previous week.


Financing a home purchase is a unique and different endeavor in today's market. This also comes along with the need for buyers qualifying for the right loan and will the home qualify? Real estate agents need to coordinate these factors to help clients. 

As an example, when helping Native Americans buy a home, we work with an experienced lender that has done this specific type of loan in El Dorado County. If you or someone you know may be interested, please contact us. Some of the guidelines are shown in attachment below: 

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