Explaining Today’s Mortgage Rates If you’re following mortgage rates because you know they impact your borrowing costs, you may be wondering what the future holds for them. Unfortunately, there’s no easy way to answer that question because mortgage rates are notoriously hard to forecast. But, there’s one thing that’s historically a good indicator of what’ll happen with rates, and that’s …
Your Tax Refund Can Help You Buy a Home.
Your Tax Refund Can Help You Buy a Home. Have you been saving up to buy a home this year? If so, you know there are a variety of expenses involved – from your down payment to closing costs. But there’s good news – your tax refund can help you achieve your goals by paying for some of these …
The Drop in Mortgage Rates Brings Good News for Homebuyers
Over the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The drop happened over concerns about a potential recession. And since mortgage rates have risen dramatically this year, homebuyers across the country should see this decline as welcome news. Freddie Mac reports that the average 30-year rate was down to 5.30% from 5.81% …
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Are Houses Less Affordable Than They Were in Past Decades?
Are houses less affordable than in years past? There are many headlines about how housing affordability is declining. The headlines are correct: it’s less affordable to purchase a home today than it was a year ago. However, it’s important to give this trend context. Is it less expensive to buy a house today than it …
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Real Estate Will Lead the Economic Recovery
Real Estate Will Lead the Economic Recovery. With more U.S. states reopening for business this summer, and as people start to return to work, we can expect the economy to begin improving. Most expert forecasts indicate this economic recovery will start to happen in the second half of this year. As we get back to work …
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Three Reasons Why Pre-Approval Is the First Step in Homebuying
Three Reasons Why Pre-Approval Is the First Step in the 2020 Homebuying Journey When the number of buyers in the housing market outnumbers the number of homes for sale, it’s called a “seller’s market.” The advantage tips toward the seller as low inventory heats up the competition among those searching for a place to call their own. This …
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The 2020 Real Estate Projections That May Surprise You
This will be an interesting year for residential real estate. With a presidential election taking place this fall and talk of a possible recession occurring before the end of the year, predicting what will happen in the 2020 U.S. housing market can be challenging. As a result, taking a look at the combined projections from …
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Credit Score Myths
What FICO® Score Do You Need to Qualify for a Mortgage? While a recent announcement from CNBC shares that the average national FICO® score has reached an all-time high of 706, the good news for potential buyers is that you don’t need a score that high to qualify for a mortgage. Let’s unpack the credit score myth so …
The Housing Market is gaining strength!
Experts Predict a Strong Housing Market for the Rest of 2019 We’re in the back half of the year, and with a decline in interest rates as well as home price and wage appreciation, many are wondering what the predictions are for housing market in the remainder of 2019. Here’s what some of the experts …
Don’t Wait, Buy Now!
3 Powerful Reasons to Buy a Home Now Whether you are a first-time buyer or looking to move up to the home of your dreams, now is a great time to purchase a home. Here are three major reasons to buy today. 1. Affordability Many people focus solely on price when talking about home affordability. …
What is Private Mortgage Insurance?
What You Need to Know About Private Mortgage Insurance (PMI) Whether it is your first time or your fifth, it is always important to know all the facts when it comes to buying a home. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you …
Honoring those who have served!
May is National Military Appreciation Month and Monday is Memorial Day! We are deeply appreciative and grateful to the men and woman who serve and have served our country in the Armed Forces. We owe our very lifestyles and daily freedoms to those who have sacrificed throughout history to protect them. https://youtu.be/NOcl17HIa7c We have …
This Season’s Rent V. Buy Stats!
The Cost of Rent vs. Buy This Spring The age old battle of weather to rent or buy a home continues but is changing more than you might think. Check these numbers out. They may just be enough to motivate you to purchase your next home. Some Highlights: Historically, the choice between weather you rent …
Down Payment Saving!
How Quickly Can You Save Your Down Payment? Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in …
Your saving may be enough!
One More Time… You Do Not Need 20% Down to Buy a Home. Is your saving enough? The largest obstacle renters face when planning to buy a home is saving for a down payment. This challenge is amplified by rising rents, which has eaten into the amount of money renters have leftover for savings each …
Your Mortgage or your Landlord’s Mortgage?
Whose Mortgage Do You Want to Pay? Yours or Your Landlord’s? There are some people who haven’t purchased homes because they are uncomfortable taking on the obligation of a mortgage. However, everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage. It is either yours or your landlord's. …
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Interest rates interest you?
Where Are Interest Rates Headed in 2019? The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate, the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search. Below is …
Facts V. Myths- Qualifying for a home loan!
2 Myths Holding Back Home Buyers Qualifying for a home loan is not as difficult as many believe. Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership: Down Payment, Credit, and Affordability,” which revealed that, “Consumers often think they need to put more money down to purchase a home than is actually required. In a 2017 survey, 68% of …
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Pre- Approve Your Dreams!
Pre-Approval: Your 1st Step in Buying a Home In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is …
Interest Rates and Inventory
2 Factors to Watch in Today’s Real Estate Market Whether Buying or Selling When it comes to buying or selling a home there are many factors you should consider. Where you want to live, why you want to buy or sell, and who will help you along your journey are just some of those factors. …
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