Spokane Repeatedly Piques Interest at Realtor.com

Downtown Spokane

“What Slowdown? The 10 Markets Where Home Prices Are Unstoppable” was published January 28th 2019 and it discusses the nation’s housing markets that have been strong enough to resist the recent slowdown. Spokane was said to be the third strongest market in the nation.

“The Cities That People Can’t Wait to Move to—and Locals Have No Interest in Leaving” was published November 9, 2018 and it discusses the markets that are seeing the most interest from people located outside of their area while people located in their market area show the least interest in leaving. Spokane was said to be the most popular housing market with out-of-towners and has the most locals who are happy to stay put.

“America’s Most Affordable Outdoorsy Cities, 2018: Open-Air Adventure at Cut-Rate Costs” was published August 13th 2018 and it discusses affordable cities where you can easily get on a bike, go for a run or board a boat. Spokane was said to be the most affordable outdoorsy city.

“The Hottest Markets in June 2018: What Happens When They Get Too Hot?” was published July 5th, 2018 and it discusses the nation’s 20 hottest markets, of which, Spokane was listed as number 18 on the list.

“The Hottest Markets for U.S. Real Estate: Is California’s Reign Over?” was published April 26th 2018 and it discusses the fact that California’s housing markets are no longer dominating the list of hottest markets on http://www.realtor.com. Spokane was listed as number 13 on the list which only had six California cities listed.

“Cost-Conscious Buyers Are Flocking to These 10 Affordable, Midsize Cities” was published March 1st, 2018 and it discusses how low inventory and rising home prices are pushing buyers into smaller, more affordable markets and Spokane was listed as the number 1 most affordable midsize city to watch.

“The 20 Hottest Real Estate Markets for February 2018: Get Ready for the Spring Thaw!” was published March 1st, 2018 and it lists the 20 markets that have already hit their prior year’s peak. Spokane was ranked 18 on the list of 20 markets.

“Party Time: Welcome to America’s Top 10 Booziest—and Soberest—Cities” was published March 13th, 2017 and it discusses the nation’s drinking culture. Spokane was listed as the 7th booziest city.

Mortgage Interest Rates Down as Stock Market Declines

Chart with key to success

Mortgages rallied last week as U.S. 10yr treasury yields fell 14bps on the week, the strongest performance since April 2017. The S&P 500 and DOW fell 4.60% and 4.50% for the week on Friday, -2.33% and -2.24% respectively, and are now back in the negative territory for 2018. The 2s5s curve inverted for the first time since 2007 and the 2s10s curve is near 13bps this morning. However, the curve steepened into the end of the week as the market continued to price out the Fed interest rate hikes in 2019. Market expectations are pricing near 50% probability for a March interest rate increase and near certain hike next week.

Spokane Makes #18 on Realtor.com’s List of Top 20 Performing Markets


Realtor.com® ranked the following 20 markets as “hottest” in the country in May:

  1. Midland, Texas
  2. Boston
  3. San Francisco
  4. Columbus, Ohio
  5. Vallejo, Calif.
  6. Boise City, Idaho
  7. Stockton, Calif.
  8. Buffalo, N.Y.
  9. Grand Rapids, Mich.
  10. Fort Wayne, Ind.
  11. Colorado Springs, Colo.
  12. Sacramento, Calif.
  13. Worcester, Mass.
  14. Rochester, N.Y.
  15. Ann Arbor, Mich.
  16. Detroit
  17. Odessa, Texas
  18. Spokane, Wash.
  19. Dallas
  20. Racine, Wis.

Original Source: “Home-Buying Frenzy Sets a Record as California Loses its Grip on Hottest Markets,” realtor.com® (May 31, 2018)

Fannie Mae’s Loan Limits to increase in 2018

Fannie Mae has issued Lender Letter LL-2017-10 to confirm the general and high-cost area loan limits announced by the Federal Housing Finance Agency (FHFA). The new loan limit in most of the country will be $453,100, which represents a 6.8 percent increase over the 2017 limit. All but 71 counties (or county equivalents) will see a loan limit increase.

The new limits are effective for whole loans delivered to Fannie Mae and loans in MBS pools with issue dates on or after Jan. 1, 2018.

I have listed the loan limits for Spokane County below:

2018 Loan Limit for a 1 Unit Dwelling: $453,100

2018 Loan Limit for a 2 Unit Dwelling: $580,150

2018 Loan Limit for a 3 Unit Dwelling: $701,250

2018 Loan Limit for a 4 Unit Dwelling: $871,450