Month: May 2022
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What Does the Rest of the Year Hold for the Housing Market?
Want to know what to expect in this housing market. If you’re thinking of buying or selling a house these are the current market expectations Anytime you make a big decision like, one thing you should always consider is timing. So, what does the rest of the year hold for the housing market? Here’s what experts have to say.…
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Sellers Have an Opportunity with Today’s Home Prices
As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate. The latest data on home prices seems to confirm that trend. According to data from CoreLogic, home price appreciation has…
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How Homeownership Can Bring You Joy
If you’re trying to decide whether to rent or buy a home, you’re probably weighing a few different factors. The financial benefits of homeownership might be one of the reasons you want to make a purchase if you’re a renter, but the decision can also be motivated by having a place that’s uniquely your own. If you…
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The One Thing Every Homeowner Needs To Know About a Recession
A recession does not equal a housing crisis. That’s the one thing that every homeowner today needs to know. Everywhere you look, experts are warning we could be heading toward a recession, and if true, an economic slowdown doesn’t mean homes will lose value. The National Bureau of Economic Research (NBER) defines a recession this way: “A recession is…
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What You Actually Need To Know About the Number of Foreclosures in Today’s Housing Market
While you may have seen recent stories about the volume of foreclosures today, context is important. During the pandemic, many homeowners were able to pause their mortgage payments using the forbearance program. The goal was to help homeowners financially during the uncertainty created by the health crisis. When the forbearance program began, many experts were…
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How Today’s Mortgage Rates Impact Your Home Purchase
If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise, so does…
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Will Home Prices Fall This Year? Here’s What Experts Say.
Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home prices, where experts say they’re headed, and how this impacts your homeownership goals. What’s Happening with Home Prices? Home prices have seen 121 consecutive months of year-over-year increases. CoreLogic says: “Price appreciation…
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The Top Indicator if You Want To Know Where Mortgage Rates Are Heading
Wednesday February 2nd, 2022 First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers Mortgage rates have increased significantly since the beginning of the year. Each Thursday, Freddie Mac releases its Primary Mortgage Market Survey. According to the latest survey, the average 30-year fixed-rate mortgage has risen from 3.22% at the start of the year to 3.55% as of last week. This…
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How To Approach Rising Mortgage Rates as a Buyer
Wednesday April 20th, 2022 Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 6%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may…
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Things That Could Help You Win a Bidding War on a Home
Tuesday May 3rd, 2022 Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers, Pricing With a limited number of homes for sale today and so many buyers looking to make a purchase before mortgage rates rise further, bidding wars are common. According to the latest report from the National Association of Realtors (NAR), nationwide, homes are getting an average of 4.8 offers per sale. Here’s a look at…