Connor Hancock, CFA NMLS #1980815 - Community Lending

08/11/2025

Lower mortgage rates are on the horizon! Stay informed.

Email from 263 words 1.5 minute read Visit My Website! Interest Rate Graphs Check Out My Linktree! Mortgage Rate Decline Continues!       Dare I say we have reached a pivot point in the market where e

05/08/2025

There's nothing like a Fed announcement day to get almost every media outlet to run headlines that attempt to tie the day's market movement to the Fed's rate decision. The problem in today's case is t...

10/25/2024

Happy Friday!!

IS IT A GOOD TIME TO BUY??

Below is some excellent info for both Homebuyers as well as Realtors for understanding how to look at this market.

The graph below shows us the average number of offers per sold home.

Of course in 2022, it was an overheated market with 5.5 offers per sale only to drop considerably to now just 2.5 offers per sale. Keep in mind these are national numbers, so Florida will be a touch weaker.

Fewer offers means less competition, less competition means sellers are more willing to negotiate with buyers to get their property sold!

So yes it is a good time to buy because less competition gives the edge to the buyers!!

Have a great weekend!!

10/24/2024

Good Morning!

Below is the latest data (Just Florida) which shows the number of months supply of current housing inventory on the market.

This number tells us how many months it will take to deplete all of the housing inventory at current demand levels.

The latest reading circled in red below stands at 4.6 months from around just 1 month supply in 2021!

While this may be seen as a negative as higher inventories typically lead to lower prices, 4.6 months is getting us back to a more normal healthy market.

Have a great day! Tomorrow is Friday!! 🎉

10/14/2024

Happy Monday.....not really, but the show must go on.

While i hesitate to post this after the trifecta cluster of hurricanes, this is some important info on mortgage rates and what happened after the Fed cut short-term rates.

Keep in mind the Fed does not control mortgage rates, that is set by the bond market.

This is evidenced in the graph below where the Fed cut short-term rates and mortgage rates continued to drift higher and then were absolutely pummeled with the release of the jobs report showing a stronger than expected economy.

A stronger jobs market and economy put fears into the market of inflation coming back as a concern which caused mortgage rates to jump much higher to around 6.64% on 30-year conventionals.

Let's hope for a quiet more stable week as we have had enough "excitement" to last a lifetime.

Keep the faith!!

10/03/2024

Good Morning!

Mortgage rates were up a bit yesterday as the ADP report that was released showed job growth increased more than expected elevating fears of stronger growth which can lead to higher inflation.

However, the market is not taking into consideration the fact that wage growth is showing some signs of weakness so hopefully this will ease some of the fears of renewed inflation.

Have a great day!!