Realty World - Sierra PropertiesLicense #: 00319644

Realty World - Sierra PropertiesLicense #: 00319644

Realty World - Sierra Properties's blog

Owners Average $225K in Housing Wealth Over Decade

Homeownership continues to prove it can pay off over the long term. It is the largest source of wealth among most families, and it’s been paying back more lately.

Equity gains are increasing, making homeownership even more profitable: A homeowner who purchased a single-family existing home 10 years ago would have gained $225,000 in home equity if they sold at the Median sales price of $363,100 in the third quarter of 2021, Gay Cororaton, a National Association of REALTOR® research economist, says on the association’s Economists’ Outlook blog.

Higher Mortgage Loan Limits Take Effect

Conforming loan limits for mortgages backed by Fannie Mae and Freddie Mac have jumped in most of the country. El Dorado County. CA. increased to $647,050. Find out the conforming loan limit for 2022 in your area at You can also view the interactive map on the site.

The new loan limits took effect Jan. 1.

Holiday Gift for Home Buyers: 'Big Drop in Mortgage Rates'

The 30-year fixed-rate mortgage posted a big drop this week, falling to a 3.05% average, Freddie Mac reports.

“The market volatility resulting from the COVID-19 omicron variant is causing mortgage rates to decrease,” says Sam Khater, Freddie Mac’s chief economist. “As the year comes to a close, the housing market is proceeding steadily. However, rates are expected to increase in 2022 which will impact home buyer demand as well as refinance activity.”

Mortgage Rates Climb After Fed’s Rate Announcement

The Federal Reserve announced it would accelerate its bond tapering and that three rate hikes would come in 2022.

This week “mortgage rates inched up as a result of economic improvement and a shift in monetary policy guidance,” says Sam Khater, Freddie Mac’s chief economist. “While house price growth is slowing, prices remain high due to solid housing demand and low supply. We expect rates to continue to increase into 2022 which may leave some potential home buyers with less room in their budgets on the sideline.”

Misconceptions About a 'Seller’s Market'

The housing market is hot, but some homeowners may overestimate just how hot it is when they go to sell.

Acoma Pueblo

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Are At-Risk Homeowners Better Off Selling?

Pandemic-related mortgage forbearance programs are expiring, but hundreds of thousands of homeowners continue to struggle with payments. When loan modifications still don’t help, owners may find themselves at risk of foreclosure. But selling the home, which is likely to have accumulated a lot of equity over the past year, may be a much better option.

Mortgage Rates Remain Stable—For Now

Mortgage rates held steady this week as the world awaits more information about the severity of the omicron variant of COVID-19 and ongoing supply chain issues.

“Mortgage rates continue to remain stable notwithstanding volatility in the financial markets,” says Sam Khater, Freddie Mac’s chief economist. “The consistency of rates in the face of changes in the economy is primarily due to the evolution of the pandemic, which lingers and continues to pose uncertainty. This low mortgage rate environment offers favorable conditions for refinancing.”

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