Coastal Buyers Realty, LLC - Lori M. Smith

02/23/2024

It's about that time NC🌞😎👙

02/23/2023

Congratulations to my most favorite clients EVER, Auntie Cindy & Uncle Jon ❤️ Enjoy your new beach home!!!

07/27/2022

Don't panic!!!

"𝗧𝗵𝗲 𝗙𝗲𝗱 𝗷𝘂𝘀𝘁 𝗵𝗶𝗸𝗲𝗱 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗿𝗮𝘁𝗲𝘀!!!" 😲

👉 (𝘋𝘰𝘯'𝘵 𝘱𝘢𝘯𝘪𝘤, 𝘵𝘩𝘪𝘴 𝘪𝘴𝘯'𝘵 𝘵𝘳𝘶𝘦!) 👈

Many people confuse increases in the fed funds rate made by the Fed with an increase in mortgage rates. 𝗛𝗼𝘄𝗲𝘃𝗲𝗿, 𝘄𝗵𝗲𝗻 𝘁𝗵𝗲 𝗙𝗲𝗱 𝗿𝗮𝗶𝘀𝗲𝘀 𝗽𝗼𝗹𝗶𝗰𝘆 𝗿𝗮𝘁𝗲𝘀 𝗶𝘁 𝗮𝗰𝘁𝘂𝗮𝗹𝗹𝘆 𝗛𝗘𝗟𝗣𝗦 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗿𝗮𝘁𝗲𝘀 𝗶𝗺𝗽𝗿𝗼𝘃𝗲!

Why is that? 🤔

✅ The simple answer is that the Fed rate hikes will slow down the economy and hopefully curb inflation, and inflation is actually what drives rates higher. As markets anticipate the Fed will have to raise rates, mortgage rates do move higher, but months in advance of actual rate hikes. Once the Fed actually raises rates, we often see mortgage rates improve slightly afterwards.

𝗔𝗹𝘁𝗵𝗼𝘂𝗴𝗵 𝗶𝘁 𝗶𝘀 𝗮 𝗯𝗶𝘁 𝗺𝗼𝗿𝗲 𝗰𝗼𝗺𝗽𝗹𝗲𝘅 𝘁𝗵𝗮𝗻 𝘁𝗵𝗮𝘁, 𝘁𝗵𝗲 𝗺𝗮𝗶𝗻 𝘁𝗮𝗸𝗲𝗮𝘄𝗮𝘆 𝗵𝗲𝗿𝗲 𝗶𝘀 𝘁𝗵𝗮𝘁 𝗠𝗢𝗥𝗧𝗚𝗔𝗚𝗘 𝗥𝗔𝗧𝗘𝗦 𝗗𝗜𝗗 𝗡𝗢𝗧 𝗚𝗘𝗧 𝗪𝗢𝗥𝗦𝗘!

In fact, the rates you have access to may even have improved.

𝗜𝗳 𝘆𝗼𝘂'𝗱 𝗹𝗶𝗸𝗲 𝗺𝗲 𝘁𝗼 𝘁𝗮𝗸𝗲 𝗮 𝗹𝗼𝗼𝗸 𝗮𝘁 𝘆𝗼𝘂𝗿 𝘀𝗶𝘁𝘂𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝘀𝗲𝗲 𝘄𝗵𝗮𝘁 𝗿𝗮𝘁𝗲𝘀 𝗮𝗿𝗲 𝗮𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝘁𝗼 𝘆𝗼𝘂, 𝗿𝗲𝗮𝗰𝗵 𝗼𝘂𝘁 𝗮𝗻𝘆𝘁𝗶𝗺𝗲. 𝗜'𝗱 𝗹𝗼𝘃𝗲 𝘁𝗼 𝗵𝗲𝗹𝗽 𝘆𝗼𝘂.

07/15/2022

Some great info from an excellent lender!

Mortgage Rates, Home Appreciation, Dave Ramsey, Rent vs Buy

06/09/2022

Part of being a great agent is keeping stress/chaos/crisis as far away from my clients as possible!

06/01/2022

It is that time again! Here is some helpful info from WECT to help you prepare for hurricane season 🌀

https://www.wect.com/weather/hurricane/

03/27/2022

Showing a home on 10 acres and got to love on the sweetest horse! If I didn't love Wilmington so much, I think I'd become a country girl 🐴🤠

03/22/2022

Welcome to NC 😂

03/17/2022

How the Fed rate increase affects home buyers:
Mortgage rates tend to move in the same direction as the federal funds rate so mortgage rates could trend upward all year. If you already have a signed contract to buy a home and have locked an interest rate, you're in the clear! The lender can't raise your rate.
If you're still shopping or plan to, keep in mind higher interest rates weaken your buying power.
Here's an example for a $1,500/month principal and interest payment:
Interest rate: 4% Loan amount: $314,200
Interest rate: 4.5% Loan amount $296,000
Difference: $18,200

The Federal Reserve raised the federal funds rate by 0.25%. Mortgage interest rates probably will go up, and rates on home equity lines of credit certainly will.

03/16/2022

Cheaper is not always best when it comes to home repairs! Do your research 🧐

03/14/2022

BUYER BEWARE: Homeowners insurance policies on shingle roofs 20+ years old are limited and will cost MUCH more!!! Jackson Taylor wrote, "In coastal North Carolina, the year of roof replacement plays an important role in homeowner’s insurance. For homes with older roofs, particularly those that are 20 years and older, the options for insurance are more limited. For newer builds and for homes with newer roofs, more carriers will write a policy and there will be more competitive pricing available." Buyers, please make sure to get a quote before submitting an offer on a home with an older roof!
Jackson Taylor, Agent
The Huneycutt Group, Inc.
Office 910.338.1773
[email protected] |

Wilmington Insurance Agents Dedicated To Protecting Your Most Valuable Assets. Huneycutt Group provides home, auto, and other insurances.

03/10/2022

Two of my favorite buyers (and their owners) are VERY happy to be under contract so they celebrated with a pup cup ❤️❤️❤️