In this episode of Real Talk, Lisa Licata welcomes Drew Aiello, a branch manager at Fairway Mortgage Corporation, to discuss the current state of the housing market, mortgage rates, and the factors influencing home buying decisions. They explore the impact of Federal Reserve policies, the importance of pre-approval for buyers, and the demographic trends shaping the market. Drew emphasizes the urgency for potential buyers to act now rather than wait for lower rates, as the demand for housing continues to outpace supply. The conversation also touches on the challenges faced by first-time homebuyers and the strategies to navigate the competitive market.

Key Takeaways

• Mortgage rates are influenced by the 10-year treasury yield.
• Buyers should consider getting a cash guarantee to stand out.
• The Federal Reserve's decisions can significantly impact mortgage rates.
• Waiting to buy a home can lead to higher costs in the long run.
• Demographics indicate a strong demand for housing in the coming years.
• First-time homebuyers should be aware of their financing options.
• Pre-approval is essential for buyers in a competitive market.
• Understanding market trends can help buyers make informed decisions.
• Inflation rates are expected to decrease, affecting mortgage rates.
• The current housing market is characterized by high demand and low supply.

Contact Drew Aiello via email at [email protected] or phone call at 518-573-2435. You can also reach out to us at Sterling Real Estate Group and we'd be happy to connect you!