Becky's Best Bungalow Bets for the Week of May 7, 2023: Top 6 + Lending News

Hello BBBB Friend,

With an increase in new listings and an off week for new sales contracts, months of inventory (MOI) on hand hit 2.9 months for the first time since February of 2021. (MOI refers to the number of months it would take to sell all the homes currently on the market, assuming no new homes were listed for sale.) We still have a long way to go to reach a balanced market which is considered five months of inventory.

This week I am featuring six new listings. I also have several price reductions, new contracts, and final sales for homes that areStill on My List. ClickHEREto see these changes.

INTEREST RATES AND LENDING NEWS

• 10th time lucky? The FED raised its rate again Wednesday, the 10th time in about a year, and signaled a pause. Meanwhile, the 10-year Treasury rate, which is the rate tied to fixed-rate mortgages, dropped to 3.43%. According to Freddie Mac, the average long-term mortgage rate in the US dipped slightly this week to 6.39%.

• If you've applied for a mortgage loan lately and wondered why you're your phone and email are blowing up with spam, it may be the result of "Trigger Leads." Credit bureaus like Experian, Equifax, and TransUnion sell the contact information of anyone who applies for credit unless they actively "opt out." These lists of potential borrowers are known as "Trigger Leads," and while many people are unaware of their existence, they can be bought by telemarketers and junk mail distributors. Fortunately, a new bill being considered in Congress would eliminate Trigger Leads altogether. The new legislation will change the law so that you can only be contacted if you "opt in"! Find out moreHERE.

YOUR FEEDBACK NEEDED
I have been sharing my love for bungalows and Heights homes on my blog, Becky's Best Bungalow Bets, for seven years this month. However, I am considering a name change due to social media naming constraints and would love to hear your thoughts. I have narrowed down my options to "Beckys-Best-Heights-Homes" or "Beckys-Hot-Heights-Homes." I value your opinion and would appreciate it if you could take a moment to share your preference via a return email. Your feedback will help me choose a name that accurately reflects my content and resonates with my readers. Thank you in advance for your input, and I look forward to hearing from you!

Have a great week, and,

Let's look at houses or talk about selling yours!
Becky

CLICK HERE FOR THIS WEEKS BEST BUNGALOW BETS