Connecticut Real Estate Weekly

05/28/2024

Beyond price and condition, houses can linger for years on the Connecticut market awaiting the right buyer.

04/05/2024

The CHFA Homes for Sale website page has been updated as of
Thursday, April 4, 2024.

Please contact the Listing Company/Agent for the property(ies) you are interested in.

Thank you.

The Connecticut Housing Finance Authority is a leader in creating affordable housing opportunities for families and individuals in Connecticut. View all of the CHFA owned real estate available for purchase here.

04/04/2024

Younger millennials enter prime homebuying window, help bump cohort's share to 38%

04/04/2024

Mortgage Rate Update. Follow the National Averages.

04/03/2024

DAILY INTEREST RATE

GOVERNMENT RATE: 6.375% (6.475% - 6.875% APR)
CONVENTIONAL RATE: 6.750% (6.850% - 7.250% APR)

Federally designated "Targeted Areas" receive an additional .25% discount on the CHFA published interest rate.

04/02/2024

New, active listings reach recent highs as sellers adjust to rate environment

04/01/2024

See why buyers & brokers choose Land.com. Find land near you including farms, ranches, and rural homes. Browse millions of acres of land for sale.

04/01/2024

DAILY INTEREST RATE

GOVERNMENT RATE: 6.250% (6.350% - 6.750% APR)
CONVENTIONAL RATE: 6.625% (6.725% - 7.125% APR)

Federally designated "Targeted Areas" receive an additional .25% discount on the CHFA published interest rate.

03/27/2024

Continuing NAHB’s commitment to be at the forefront of research on home buyer preferences, the 2024 edition of What Home Buyers Really Want was recently released at the International Builders’ Show. The primary objective of the study is to provide builders, manufacturers, architects, and the gen...

03/27/2024

DAILY INTEREST RATE UPDATE

GOVERNMENT RATE: 6.250% (6.350% - 6.750% APR)
CONVENTIONAL RATE: 6.625% (6.725% - 7.125% APR)

Federally designated "Targeted Areas" receive an additional .25% discount on the CHFA published interest rate.

03/26/2024

Hispanic borrowers opted for FHA and ITIN loans, rate buydowns and DPA programs in the face of affordability constraints

03/26/2024

According to Zillow, the Hartford area saw a higher increase in home values than any other large metro area in the country.

03/26/2024

CHFA DAILY INTEREST RATE

March 26, 2024

GOVERNMENT RATE: 6.250% (6.350% - 6.750% APR)
CONVENTIONAL RATE: 6.625% (6.725% - 7.125% APR)

Federally designated "Targeted Areas" receive an additional .25% discount on the CHFA published interest rate.

View All Program Rates

03/25/2024

Rather than easing back from the January level as expected, existing home sales shot significantly higher in February, The National Association of Realtors® (NAR) said pre-owned single-family houses, townhouses, condominiums, and cooperative apartments sold at a seasonally adjusted annual rate....

03/25/2024

Surge of resales marks highest level in a year; is it a transitory jump or a sign of things to come?

03/25/2024

CHFA Daily Interest Rate Update

March 25, 2024

GOVERNMENT RATE: 6.250% (6.350% - 6.750% APR)
CONVENTIONAL RATE: 6.625% (6.725% - 7.125% APR)

Federally designated "Targeted Areas" receive an additional .25% discount on the CHFA published interest rate.

03/22/2024

The Connecticut Housing Finance Authority is a leader in creating affordable housing opportunities for families and individuals in Connecticut. View all of the CHFA owned real estate available for purchase here.

03/22/2024

Thursday’s existing home sales report was a massive beat. Will this mark the high point for sales this year like it did in 2023?

03/21/2024

https://www.wsj.com/economy/housing/spring-housing-market-2024-a9e7d710?mod=djem10point

Real estate commissions are changing this summer after a historic settlement. Buyers and sellers aren’t sure whether to hurry or wait.

03/21/2024

https://www.housingwire.com/articles/which-brokerages-will-thrive-in-a-post-nar-world/?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_medium=email&_hsmi=299160474&_hsenc=p2ANqtz-_3LvxoNd2FJqysbyUFGrhcYwFpVCnQHlm4DfoHUtxcuGONrBQTukfQ6zF82zpgtCTHw2zEckjOmL313hCS3NCn2U2z0g&utm_content=299160474&utm_source=hs_email

Industry experts and analysts weigh in on how the terms of NAR’s settlement agreement will impact different brokerage models.

03/20/2024

https://www.scotsmanguide.com/news/inventory-rebound-underway-redfin-says-though-prices-havent-budged-yet/?fbclid=IwAR0QmbkhCJFQlMSO1NrjMTIyxK5rxwiAndDIMjOEXoxqbko7VUrc21JV_1w

New, active listings reach recent highs as sellers adjust to rate environment

03/20/2024

Fannie Mae's new 2024 predictions!

Strong employment numbers and hotter-than-expected inflation data won’t provide the Fed greater confidence to ease its monetary policy in the near term, Fannie Mae said this week. As a result, mortgage rates will remain higher for longer than expected.
Fannie Mae expects the 30-year fixed mortgage rate to average...

• 6.7% in Q2 2024 (previous forecast: 6.3%)
• 6.6% in Q3 2024 (p: 6.1%)
• 6.4% in Q4 2024 (p: 5.9%)
• 6.3% in Q1 2025 (p: 5.8%)
• 6.2% in Q2 2025 (p: 5.7%)
• 6.1% in Q3 2025 (p: 5.7%)
• 6.0% in Q4 2025 (p: 5.7%)

p = previous forecast published last month.

03/05/2024

First-time home owners in CT could get a tax break under proposal
A legislative committee on Friday approved a bill that could save first-time Connecticut homeowners $500 a year in property taxes.

02/16/2024

https://www.chfa.org/homebuyers/chfa-homes-for-sale/

The Connecticut Housing Finance Authority is a leader in creating affordable housing opportunities for families and individuals in Connecticut. View all of the CHFA owned real estate available for purchase here.

10/04/2023

Some relief for prospective homebuyers......

The US housing market is starting to flash a few small rays of sunshine for prospective homebuyers. Here’s what Business Insider reports in its outlook for the fall/winter housing market.
• Inventory is growing at a time of year that usually sees declines. Inventory rose 1.8% in the last week of September WoW.
• Competition in the housing market is cooling off fast, even for this time of year.
• The weekly share of listings with a price cut climbed to 9.2% in the week ending September 16th, the highest share since November of last year.
• The share of homes that sold for more than their final list price has been gradually declining, from a peak of 41.9% of closed sales in the week ending June 24th, to 38.3% in the week ending August 12th

05/12/2023

CHFA's Time to Own Program has been refunded! You could receive up to $50,000 in assistance with 0% interest and make NO monthly payments. Don't wait! Contact us today to see if you qualify for this FORGIVABLE down payment assistance loan!

05/08/2023

Attention Real Estate Agents!

Check out this podcast episode by Dave Stevens where he predicts what’s likely to happen in the market this month! Get some key takeaways and learn how to make the most of this current industry circumstances. Worth the listen!

And don't forget to reach out to The Ready Set Loan team for all your clients' home financing needs --> https://www.facebook.com/VPNeilCaron


(https://player.vimeo.com/video/822755687?h=b15a511f5e)

04/26/2023

ATTENTION CONNECTICUT HOMEBUYERS! TIME TO OWN IS BACK! This forgivable Down Payment Assistance loan is available to applicants applying to the Connecticut Housing Finance Authority’s (CHFA) First-Time Homebuyer Program. With a 0% Interest rate and no monthly payment, Time To Own can cover up to 20% down payment and up to 5% closing costs of a home purchase in Connecticut. Don't wait - contact us to get started before the funds run out again!

02/17/2023

If saving for a down payment is putting a pause on your homebuying dreams in CT, CHFA’s Time to Own program might help you kickstart your journey to ownership. With up to $50,000 up for grabs in a forgivable down payment assistance loan, Time To Own gives you access to funds with a 0% interest rate and no monthly payments required. Visit homebrid.ge/TTO to learn more about eligibility and other great benefits!