NEW   BANK OWNED   SHORT SALES
evans realty
Featured Listings
what is my
Home Worth?
automatic
Home Finder
get help
Relocating
Emmett Homes

9805 Mayberry Ln
View Details
Exceptional Service Is An Idaho Tradition!

It's easy to see...
Drive into the "valley of plenty," via Highway 16's Freeze-out Hill and you’ll see orchards and fields stretched out before stark foothills where a century ago outlaws found refuge. Head on into Emmett and you’ll soon feel that legendary small-town serenity. New housing developments are nearly hidden in the rolling hills surrounding town.

This is a place where big city life meets small town quiet living, and we like it just fine...
From the tree-shaded park across from the railroad depot to the drive-in café where neighbors meet over a flavored soda, Emmett is a town linked to its past but poised for the future. We invite you to get to know our town, and look around the rest of the Treasure Valley as well - we can show you some of the best homes and properties available and have the experience you'll want when the time comes to make the move.

Talk to our agents and you'll see why we love where we live!



Featured Real Estate For Sale
325 W Main
In Emmett
2391 Sundown St
In Emmett
781 W South Slope Road
In Emmett
911 Gem Stone Way
In Emmett
2390 UA AVE
In Emmett
Featured Idaho Cities
SEE ALL HOMES
SEE ALL PROPERTIES
What Is Your Home Worth?
Your Dream Home
Is Closer Than You Think!
Our Dreamhome Program can automatically send you just the homes you are interested in, with NO SEARCHING!

That's right, it's just that easy! Sign up, tell us about the things you want in a home, and after that you will receive updates with listings that match your needs without ever needing to search!

Don't Just Dream About It!
Evans Realty Agents
Idaho Realtor®
Teena Turner
Idaho Realtor®
John Evans
Idaho Realtor®
Debbie Anderson
Idaho Realtor®
Tawnya Banducci
Idaho Realtor®
Gina Banister
Idaho Realtor®
Sharon Bullock
Idaho Realtor®
SHERRI DARNELL
Idaho Realtor®
Daniel Garringer
Idaho Realtor®
Karen Gibson
Idaho Realtor®
Brenda Wilson Halone
Idaho Realtor®
Matt Heath
Idaho Realtor®
Jon Powell
Idaho Realtor®
Kyle Stratton
Idaho Realtor®
Jaimee Turner-Bailey
Idaho Realtor®
John Turner
Idaho Realtor®
Ryan Welch
Idaho Realtor®
Travis Whittemore
Idaho Realtor®
Valerie Wilson
EVANS REALTY LLC Blog

How an Expert Can Help You Understand Inflation & Mortgage Rates

How an Expert Can Help You Understand Inflation & Mortgage Rates | Simplifying The Market

How an Expert Can Help You Understand Inflation & Mortgage Rates

   For BuyersFor SellersHousing Market UpdatesInterest Rates
 

If you’re following today’s housing market, you know two of the top issues consumers face are inflation and mortgage rates. Let’s take a look at each one.

Inflation and the Housing Market

This year, inflation reached a high not seen in forty years. For the average consumer, you probably felt the pinch at the gas pump and in the grocery store. It may have even impacted your ability to save money to buy a home.

While the Federal Reserve is working hard to lower inflation, the August data shows the inflation rate was still higher than expected. This news impacted the stock market and fueled conversations about a recession. It also played a role in the Federal Reserve’s decision to raise the Federal Funds Rate last week. As Bankrate says:

“. . . the Fed has raised rates again, announcing yet another three-quarter-point hike on September 21 . . . The hikes are designed to cool an economy that has been on fire. . .”

While their actions don’t directly dictate what happens with mortgage rates, their decisions have contributed to the intentional cooldown in the housing market. A recent article from Fortune explains:

“As the Federal Reserve moved into inflation-fighting mode, financial markets quickly put upward pressure on mortgage rates. Those elevated mortgage rates . . . coupled with sky-high home prices, threw cold water onto the housing boom.”

The Impact on Rising Mortgage Rates

Over the past few months, mortgage rates have fluctuated in light of growing economic pressures. Most recently, the average 30-year fixed mortgage rate according to Freddie Mac ticked above 6% for the first time in well over a decade (see graph below):

How an Expert Can Help You Understand Inflation & Mortgage Rates | Simplifying The Market

The mortgage rate increases this year are the big reason buyer demand has pulled back in recent months. Basically, as rates (and home prices) rose, so did the cost of buying a home. That pushed on affordability and priced some buyers out of the market, so home sales slowed and the inventory of homes for sale grew as a result.

Where Experts Say Rates and Inflation Will Go from Here

Moving forward, both of these factors will continue to impact the housing market. A recent article from CNET puts the relationship between inflation and mortgage rates in simple terms:

“As a general rule, when inflation is low, mortgage rates tend to be lower. When inflation is high, rates tend to be higher.”

Sam Khater, Chief Economist at Freddie Mac, has this to say about where rates may go from here:

“Mortgage rates remained volatile due to the tug of war between inflationary pressures and a clear slowdown in economic growth. The high uncertainty surrounding inflation and other factors will likely cause rates to remain variable, . . .”

While there’s no way to say with certainty where mortgage rates will go from here, there is something you can do to stay informed, and that’s connect with a trusted real estate advisor. They keep their pulse on what’s happening today and help you understand what the experts are projecting. They can provide you with the best advice possible.

Bottom Line

Rising inflation and higher mortgage rates have had a clear impact on housing. For expert insights on the latest trends in the housing market and what they mean for you, let’s connect.



You might also enjoy reading...



Read More...
WHERE WE SERVE
Emmett, Idaho is located in western Idaho and in Gem County. It is less than 30 miles from the state capital of Boise. Originally named after the son of postmaster Thomas Cahalan, Emmett serves as the county seat and has a resident population of about 5,500 in the city and 18,500 in the county. Our main communities are Sweet, Ola, Letha, and Emmett. This area has a rich history in agriculture and is home to some of the finest fruit orchards in the Northwest.


Learn More...


WHO WE ARE

Evans Realty was established in 1985. Our original Emmett office location has housed a real estate office since the 1940's. With generations of real estate agents and brokers, we are a landmark within our community, attracting buyers and sellers of all types, within our community, as well as visitors just passing through.


View Our Agents...



WHAT WE DO

With the ever changing real estate market, our knowledgeable agents specialize in everything from first time home buyers, farms & ranches, and commercial properties, to auction and bank owned properties, and HUD homes. We combine exceptional customer service, and cutting edge technology with downhome ethics to ease our clients through the purchase and sale process.



Start Finding Real Estate...