Lawsuits against realtor association threaten agent commission model
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Higher home prices, mortgage rates means sharp increases for home buyers

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March 29, 2022
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March 20, 2022
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    Lawsuits against realtor association threaten agent commission model

    Lawsuits against realtor association threaten agent commission model

    Higher home prices, mortgage rates means sharp increases for home buyers

    State audit calls Oregon’s mortgage interest deduction ‘regressive and inequitable’

    Measure 6-196: Coos Bay voters asked to fund new library and communications center

    Measure 6-196: Coos Bay voters asked to fund new library and communications center

    Oregon real estate love letter ban hit with an injunction

    Measure 6-196: Coos Bay voters asked to fund new library and communications center

    Measure 6-195: North Bend voters asked for $22.6 million for school improvements

    Measure 6-194: Coos County voters to decide on Charleston area lodging tax

    Coos Bay Council considers property tax exemptions for new multi-unit dwellings

    Coos Bay Council discusses proposed library tax rates

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          Lawsuits against realtor association threaten agent commission model

          Lawsuits against realtor association threaten agent commission model

          Higher home prices, mortgage rates means sharp increases for home buyers

          State audit calls Oregon’s mortgage interest deduction ‘regressive and inequitable’

          Oregon real estate love letter ban hit with an injunction

          Coos Bay Council considers property tax exemptions for new multi-unit dwellings

          Two Oregon bills take aim at air conditioning access

          Oregon bans certain real estate communications

          Real estate “love letter” ban faces lawsuit

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            Lawsuits against realtor association threaten agent commission model

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            Higher home prices, mortgage rates means sharp increases for home buyers

            State audit calls Oregon’s mortgage interest deduction ‘regressive and inequitable’

            Measure 6-196: Coos Bay voters asked to fund new library and communications center

            Measure 6-196: Coos Bay voters asked to fund new library and communications center

            Oregon real estate love letter ban hit with an injunction

            Measure 6-196: Coos Bay voters asked to fund new library and communications center

            Measure 6-195: North Bend voters asked for $22.6 million for school improvements

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              State audit calls Oregon’s mortgage interest deduction ‘regressive and inequitable’

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              Martin V. Boise: Huge implications for homeless camping laws

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                  Lawsuits against realtor association threaten agent commission model

                  Lawsuits against realtor association threaten agent commission model

                  Higher home prices, mortgage rates means sharp increases for home buyers

                  State audit calls Oregon’s mortgage interest deduction ‘regressive and inequitable’

                  Oregon real estate love letter ban hit with an injunction

                  Coos Bay Council considers property tax exemptions for new multi-unit dwellings

                  Two Oregon bills take aim at air conditioning access

                  Oregon bans certain real estate communications

                  Real estate “love letter” ban faces lawsuit

                  North Bend City Council allows for more middle housing

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                  Higher home prices, mortgage rates means sharp increases for home buyers

                  jrangel by jrangel
                  March 29, 2022
                  in News, Real Estate
                  0

                  The federal reserve announced a 0.25% interest rate hike, with six more increases forecast. Mortgage rates have increased sharply since the beginning of March. Average 30-year fixed mortgage rates for the week ending March 3rd stood at 3.76%. Compared to 4.42% for the week ending on March 24th, buyers could see a drastic increase in home financing costs. Given a $250,000 loan, the difference in monthly payments between a loan taken now, and one taken just three weeks ago is almost $100 per month ($1255 vs $1159).

                  The usual disclaimer

                  None of the information or scenarios below are intended to be used as financial or investment advice, and none of the scenarios speak to any particular individuals scenario. Rather, the figures referenced serve only measures for the sake of discussion.

                  One year ago

                  In March of 2021, not only was the median sale price drastically lower (about $260,000), but mortgage rates were lower as well (3.17%). That shakes out to a huge difference in monthly payments. Assuming a 20% down payment, buying a home at the median sale price this time last year ($208,000 at 3.17%) would leave a buyer with a monthly payment of about $900. Buying a home at Coos Bay’s median sale price today ($260,000 at 4.42%) would mean a monthly payment of around $1,300. That would mean a difference of about $400.

                  Of course, the difference in monthly payments is even greater when when accounting for a more realistic down payment. The average down payment, nationwide, is about 6%. With a 6% down payment, buying a home for the median sale price in 2021 ($244,400 at 3.17%) would result in a monthly payment of about $1,050. Putting 6% down on a median Coos Bay home today ($305,500 at 4.42%) would result in a monthly mortgage payment of about $1,530; a spread of about $480.

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