Clyde Miles Const.

Searching for a home can be a difficult process. We understand that you may feel overwhelmed. Our staff is committed to making every step as easy as we can.

[Clyde Miles Const. @clydemilesconst]

US treasury yields spiked higher. Will mortgage rates follow? A stronger-than-expected PMI report and hawkish comments from some FOMC members sent UST yields to a 19-yr high. [CNBC]

[Clyde Miles Const. @clydemilesconst]

Rents have declined for 3+ years. It's been a very slow decline, with rents just 4% below their mid-2022 peak. High vacancy rates are leading to more rent concessions. [https://t.co/WOrE8dPLve]

[Clyde Miles Const. @clydemilesconst]

Mortgage rates back at 7% mean don't just mean the extra interest cost per month. Higher rates also make it harder for would-be buyers to qualify for a mortgage.

[Clyde Miles Const. @clydemilesconst]

August pending home sales down 5% YoY. Income growth is outpacing home price growth (improving affordability), but higher mortgage rates are offsetting those gains. [NAR]

[Clyde Miles Const. @clydemilesconst]

Thirty-year mortgage rates hit a one-year high on Wednesday. The average interest rate for a 30-year fixed mortgage reached 7.08%, according to the Mortgage Research Center.

[Clyde Miles Const. @clydemilesconst]

The Fed is expected to raise rates today. The market's convinced. But with average 30-yr mortgage rates already above 7%, the bond markets have already "tightened" significantly. [CNBC]

[Clyde Miles Const. @clydemilesconst]

Sep 27 to Oct 3 is (historically) the best time for homebuyers to get a deal. Unfortunately, we've also got the highest rates in a year. [Realtor mag]

[Clyde Miles Const. @clydemilesconst]

Millennial home preferences are changing. Open floor plans and other once-popular features are losing appeal as millennial buyers favor flexible, low-maintenance spaces. [Real Simple]

[Clyde Miles Const. @clydemilesconst]

Mortgage rates continue to climb, prompting more borrowers to search for savings. They found that in riskier, adjustable-rate mortgages, or ARMs. Demand for those loans made up 8.5% of all mortgage applications last week, up from 8% the previous week.

[Clyde Miles Const. @clydemilesconst]

Rearrange furniture and decor within your space for a fresh look.
Maximize light and greenery using lamps, curtains, and plants from outside.
Declutter, swap, and/or repurpose items you already own.

[Clyde Miles Const. @clydemilesconst]

September is the time to clear your gutters, fix cracks and seal any gaps because materials cure better before the colder weather

[Clyde Miles Const. @clydemilesconst]

Last year, 49% of consumers did their Halloween shopping BEFORE October with outdoor decor selling out first.

[Clyde Miles Const. @clydemilesconst]

If your bathroom does not have window, running your bathroom fan for 20-30 minutes after a shower can help keep moisture, mold, and costly damage at bay.

[Clyde Miles Const. @clydemilesconst]

Mortgage rates rose again last week, driving the average long-term U.S. home loan rate to its highest level in more than a year. The benchmark 30-year fixed rate mortgage rate rose 6.71% from 6.66% the prior week, per Freddie Mac. One year ago, the average rate was 6.50%.

[Clyde Miles Const. @clydemilesconst]

Electrical DIY projects are dangerous and can lead to hidden fire or personal safety risks.
Professionals have the training to ensure electrical work is safe, efficient, and up to code.
Mistakes in DIY electrical work can void insurance coverage and cause costly damage.

[Clyde Miles Const. @clydemilesconst]

45% of prospective buyers surveyed thought mortgage rates were higher than they actually are, and 72% were waiting for lower rates. [NAR]