Thomas Valvo - Mortgage Banker

Home
United States
Creve Coeur, MO
Thomas Valvo - Mortgage Banker

Thomas Valvo
Mortgage Banker
NMLS: 2239518
Cell: (314)-956-7884

09/28/2022

Home Values are cooling off!

For reference the average home appreciation rate is typically anywhere from 3% to 5% per year. From 2015 to 2019 you can see that home values appreciated at a normal pace. 2020 to now home values have seen appreciation at unsustainable rates. This means if you are still in the market looking for a home you will more than likely see list prices lowering. How much the price lowers obviously depends on the market you are looking in. Here in St. Louis, we will likely see that 6.4% drop even more by year’s end since 2022 appreciation rate is only from January through August.

09/06/2022

As a first-time homebuyer it’s important to know all your mortgage options!

08/22/2022

It’s that’s time of the year again! Back to school is an exciting time for students but some students may not be prepared. I have been lucky enough to be able to work with and on setting up this back to school drive for local students! You can donate by scanning the QR code or by using this link https://www.amazon.com/hz/wishlist/ls/97FA281HE8YQ?ref_=wl_dp_view_your_list

08/10/2022

July St. Louis Housing Market:

As you can tell, the housing market is starting to cool down. This is attributed to many factors but some of the main factors are, rate hikes by the Federal Reserve and home values appreciating at an unsustainable level. Predictions for the future are that the housing market will continue to cool off with demand shrinking, giving time for supply to pick back up which in-turn will cause home values to start lowering as well (Economics 101: low supply and high demand = higher prices). Things will begin to become more affordable with time!

(All of these figures include Single Family Residence, Condos and Townhomes. The information was retrieved from The St. Louis Association For Realtors, 2022)

08/08/2022

Cash-out refinance for debt consolidation.

08/03/2022

MARKET UPDATE:

More good news coming from the housing market today. According to Black Knight (mortgage software provider) the annual rate of price appreciation dropped 2% from 19.3% to 17.3% (CNBC, 2022). What does this tell us? First off, homes have finally stopped appreciating at an unsustainable pace. Secondly, it tells us that the Fed interest rate hikes have cooled down demand which in turn will allow time for the supply to build back up. Let me know if you've seen prices coming down in your area!

If you're interested in looking for a home again, give me a call or DM to get your pre-approval process going. I'm also available to answer any questions you may have.

07/28/2022

In another effort to tame inflation, the Fed increased policy rates by 0.75% at their July meeting, in line with expectations. Even with the anticipated Fed hike, mortgage rates have fallen since June, though with some volatility.

The Fed's actions are intended to slow rising prices by inhibiting investment, creating less demand and thus tempering inflation. Whether this helps the broader economy remains to be seen.

Its impact on the housing market, however, is becoming clear. The frenzy of the last two years is fading along with the historically low rates we've enjoyed, returning the market to a more normal pace.

What's next?
The Fed is expected to continue increasing rates at each meeting of the Open Market Committee as long as conditions warrant. Remaining 2022 meetings will occur in September, November and December.

07/13/2022

It's housing market update time. Looking at June of 2022 and comparing to June of 2021, there is some good news!

In regards to closed sales, new listings, and homes for sale, there were finally increases! That means more homes are coming on the market and people are still purchasing houses regardless of the current rate environment. Finally, home values have continued to appreciate but values are cooling off only increasing 5.15% year-over-year. Reach out to me with any questions!

07/04/2022

Happy 4th of July from all of us at Paramount Bank!

07/01/2022

Yes, rates are in the high 5's to low 6's right now. To keep things in perspective, the highest rates were in October of 1981 at 18.45%! Historically speaking, rates right now are still low! The other good news is that what goes up, must come down. If you purchase now with an interest rate in the high 5’s to low 6’s, its important to know there is always an option to refinance when rates come back down (Which they will). Reach out with any questions or concerns.

06/27/2022

In recognition of American Housing Month, the American Bankers Association Foundation today released an infographic outlining five tips for how home buyers can overcome challenging market conditions and make their dream of homeownership a reality. https://brev.is/c8smk

Address

Creve Coeur, MO
63141

Website

https://paramountbank.com/

Alerts

Be the first to know and let us send you an email when Thomas Valvo - Mortgage Banker posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Thomas Valvo - Mortgage Banker:

Shortcuts

Want your business to be the top-listed Finance Company in Creve Coeur?