Last week was marked by a flurry of activity in the job market, generating a wealth of data that caught the attention of the Federal Reserve. This begs the question: have we reached the peak of mortgage rates for 2023 due to these labor reports? 

Nationally, last week saw:

  • Active listings increase 5,654
  • Average mortgage rates dropped from 7.37% to 7.08% (our preferred lender is still significantly lower than this)
  • Purchase applications also climbed by 2% on a week-to-week basis.

Mortgage rates and the bond market

Mortgage interest rates typically move in the same direction as the 10-year US Treasury Bond. Despite a rise in the 10-year yield after the jobs report, mortgage rates remained steady.

But in 2023 a notable change has…

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In June, the housing market demonstrated remarkable resilience despite the challenges posed by low supply and elevated mortgage rates. The S&P CoreLogic Case-Shiller home price index, after seasonal adjustments, registered a noteworthy 0.7% month-over-month increase. This marks the fifth consecutive monthly upswing in prices. Additionally, both the 10-City and 20-City composites saw encouraging growth with increases of 0.9%.

When compared to June of the previous year, the home price index remained relatively stable, showing a marginal change from the preceding month's decrease of -0.5%.

Craig Lazzara, the managing director at S&P DJI, noted, "U.S. home prices maintained their upward trajectory in June 2023." He further elaborated that the National…

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Unveiling the Charm of the Top 55+ Neighborhoods in Delray Beach

When it comes to seeking the perfect blend of vibrant community living, scenic beauty, and a dash of Floridian charm, Delray Beach emerges as an unbeatable destination for 55+ individuals. 

Located along the picturesque coastline, this gem is known for its rich culture, inviting beaches, and a plethora of attractions. But what truly sets Delray Beach apart are its inviting neighborhoods, each offering a unique experience that caters to an active and vibrant lifestyle. Here are five of the top 55+ neighborhoods in Delray Beach that you can explore.

Valencia Falls: Where Luxury Meets Leisure

Imagine stepping into a realm where luxurious living meets leisurely days filled with…

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Discovering the Best 55+ Neighborhoods in Boynton Beach, FL

Welcome to our comprehensive guide to the best 55+ neighborhoods in beautiful Boynton Beach, FL. 

If you are an active adult seeking an idyllic place to call home, we understand the importance of finding the perfect neighborhood that complements your lifestyle and fulfills your desires. In this blog post, we explore five fantastic 55+ communities in Boynton Beach — Cascades, Cascade Lakes, Leisureville, Ponte Vecchio (and Ponte Vecchio West), and Valencia Isles — highlighting their unique amenities, hotspots, restaurants, and activities.

1. Cascades

Nestled within lush greenery, Cascades offers a serene and picturesque setting for its residents. This vibrant community boasts an array…

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Hey, it's Andy with the Mandel team at REMAX, and I'm here to bring you your August 2023 housing market update. As always, for the purposes of this video, we're gonna be talking about single family homes only in Boca, Parkland and Coral Springs. Those are the areas where our team does the predominant amount of our business, and we're not talking about any country clubs or 55 and overs. When we give you these stats, we're giving you the leading indicators of what's going on in the real estate market now, so you know where the market is headed, not where it's been. Typically, when you see these stats from the mainstream media, they're talking about closed sales price, which is really indicative of what happened 30, 60, sometimes even 90 days ago.…

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Boynton Beach, FL, is a vibrant city in Palm Beach County known for its beautiful beaches and favorable weather throughout the year. With a population of approximately 80,000, it offers a relaxed, suburban vibe yet brims with various recreational activities and points of interest. If you’re considering retirement or a lifestyle change and are seeking to embrace the tranquility and vibrancy of South Florida, Boynton Beach is an ideal choice.

The coveted 55+ retirement communities in Valencia neighborhoods boast a warm, welcoming community and many amenities designed to cater to an active, enriching, and leisure-oriented life. Transform your retirement years into an extended vacation in the following Valencia neighborhoods.

Valencia Bay

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Exploring the Top 7 Boca Raton No-HOA Neighborhoods

Welcome to Boca Raton, Florida — a city known for its pristine beaches, lush parks, and vibrant culture. 

When it comes to finding the perfect place to call home, we discovered seven neighborhoods that stand out from the rest due to their unique charm, friendly communities, and most importantly, their lack of homeowners association (HOA) restrictions. Without further ado, let’s take a virtual tour of the top seven Boca Raton no-HOA neighborhoods, each offering a distinct flavor and appeal.

What Does No HOA Mean?

Before we get into the different neighborhoods, let’s first discuss what “no HOA” means and why it’s a sought-after feature for potential home buyers. 

Simply put, “no HOA” stands…

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If you've received your renewal notice from your insurance company lately, you're probably just as shocked as I was when I got mine. This is the biggest problem affecting the real estate market right now, and it affects everyone, including renters with insurance rates expected to go up on average, 40% in 2023. Hi, I'm Andy with the Mandel team REM Max, and if this is your first time for the channel, make sure you like and subscribe so you can stay up to date on the local South Florida housing market. When I bought my house in 2019, my original insurance bill was only $3,200 per year, and my house has all impact windows and a roof from 2003, so it's not new by any means, but at 20 years old, it should have at least five years of life left, if not…

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The housing market in the Tri-County South Florida area has soared to become one of the most overvalued markets in the United States due to very high demand and a persistent supply shortage. According to researchers from FAU and FlU, buyers are now paying an almost 39% premium for the typical home in South Florida, making the area the 11th most overvalued market nationwide.

Florida as a whole is experiencing a similar trend, with nine of its metro areas ranked in the top 15 most overvalued markets in the country. Tampa leads the pack with buyers paying a staggering 42.56% premium for homes, followed by North Port, Cape Coral, Lakeland, Palm Bay, Jacksonville, Orlando, and Deltona.

In this blog we’re going to discuss the top 15 most overvalued…

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"I would list my house, but where would I go?" With record low inventory nationwide and especially across South Florida, this is something that we hear a lot.

According to Altos research, we're about 1 million listings shy of being even in a balanced market, yet alone, a buyer's market that many have been waiting, hoping, and praying for.

One of the biggest factors right now is that people feel trapped in their current home that may not be right for them anymore because they have an ultra low mortgage rate in the 2% to 4% range, and they don't want to move into a more expensive house at a 6% to 7% rate. This has prevented a ton of people from selling further reducing inventory that would otherwise be on the market and driving up prices due to…

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