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Mortgage Interest Rates are Still Going Up… Should You Wait to Buy?

Mortgage interest rates, as reported by Freddie Mac, have increased by close to a quarter of a percent over the last several weeks. Freddie Mac, Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors are all calling for mortgage rates to rise another quarter of a percent by next year. In addition to the predictions from the four major reporting agencies mentioned above, the Federal Open Market Committee recently voted “unanimously to approve a 1/4 percentage point increase in the primary credit rate to 2.75 percent.” Historically, an increase in the [...]

By |2018-10-02T04:00:47+00:00October 2nd, 2018|First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers|Comments Off on Mortgage Interest Rates are Still Going Up… Should You Wait to Buy?

Should I Buy Now? Or Wait Until Next Year? [INFOGRAPHIC]

Some Highlights: The cost of waiting to buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time. Freddie Mac predicts interest rates to rise to 5.2% by the third quarter of 2019. CoreLogic predicts home prices to appreciate by 5.1% over the next 12 months. If you are ready and willing to buy your dream home, find out if you are able to!

By |2018-09-28T04:00:13+00:00September 28th, 2018|First Time Home Buyers, For Buyers, Infographics, Interest Rates, Millennials, Move-Up Buyers, Pricing|Comments Off on Should I Buy Now? Or Wait Until Next Year? [INFOGRAPHIC]

Are Home Prices Softening or Are They Falling?

We are beginning to see reports that more housing inventory is coming to the market and that buyer demand may not be increasing at the same pace it did earlier this year. The result will be many headlines written to address the impact that these two situations will have on home values. Many of these headline writers will confuse “softening home prices” with “falling home prices,” but there is a major difference between the two. The data will begin to show that home values are [...]

By |2018-09-27T04:00:37+00:00September 27th, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing|Comments Off on Are Home Prices Softening or Are They Falling?

The Cost of NOT Paying PMI

Saving for a down payment is often the biggest hurdle for a first-time homebuyer as median incomes, rents, and home prices all vary depending on where you live. There is a common misconception among homebuyers that a 20% down payment is required, and it is this limiting belief that often adds months, and sometimes even years, to the home-buying process. So, if you can purchase a home with less than a 20% down payment… why aren’t more people doing just that? One Possible Answer: Private [...]

By |2018-09-26T04:00:43+00:00September 26th, 2018|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers|Comments Off on The Cost of NOT Paying PMI

Where Are Mortgage 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 a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next year. How Will This Impact Your Mortgage Payment? Depending [...]

By |2018-09-25T04:00:55+00:00September 25th, 2018|First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers|Comments Off on Where Are Mortgage Interest Rates Headed In 2019?

How Much Has Your Home Increased in Value?

Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.2% year-over-year. CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median home price. The chart below shows the four price ranges from the report, as well as each one’s year-over-year growth from July 2017 to July 2018 (the latest data available).  It is important to [...]

By |2018-09-24T04:00:04+00:00September 24th, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing|Comments Off on How Much Has Your Home Increased in Value?

Is Buying a Home Really More Stressful Than Planning a Wedding? [INFOGRAPHIC]

Some Highlights: According to a new survey from Open Listings, 62% of Americans ages 25-54 believe that buying a home is more stressful than planning a wedding. Many young couples are saving for a wedding and a home at the same time. The average US wedding now costs 66% of a median home down payment, according to The Knot.

By |2018-09-14T04:00:10+00:00September 14th, 2018|First Time Home Buyers, For Buyers, Generation X, Infographics, Millennials|Comments Off on Is Buying a Home Really More Stressful Than Planning a Wedding? [INFOGRAPHIC]

Are Homebuyers Starting to Hit the ‘Pause’ Button?

For the last several years, buyer demand has far exceeded the housing supply available for sale. This low supply and high demand have led to home prices appreciating by an average of 6.2% annually since 2012. With this being said, three of the four major reports used to measure buyer activity have revealed that purchasing demand may be softening. Here are the four indices, how they measure demand (methodology), what their latest reports said, and a quick synopsis of the report. The Foot Traffic Report [...]

By |2018-09-13T04:00:22+00:00September 13th, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers|Comments Off on Are Homebuyers Starting to Hit the ‘Pause’ Button?

4 Reasons Why Fall Is A Great Time to Buy A Home!

Here are four great reasons to consider buying a home today instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest Home Price Insights report reveals that home prices have appreciated by 6.2% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.1% over the next year. Home values will continue to appreciate for years. Waiting no longer makes sense. 2. Mortgage Interest Rates Are Projected to Increase Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for [...]

By |2018-09-10T04:00:47+00:00September 10th, 2018|First Time Home Buyers, For Buyers, Move-Up Buyers|Comments Off on 4 Reasons Why Fall Is A Great Time to Buy A Home!

Home Prices Up 6.49% Across the Country! [INFOGRAPHIC]

Some Highlights: The Federal Housing Finance Agency (FHFA) recently released their latest quarterly Home Price Index report. In the report, home prices are compared both regionally and by state. Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!

By |2018-09-07T04:00:27+00:00September 7th, 2018|First Time Home Buyers, For Buyers, For Sellers, Infographics, Move-Up Buyers, Pricing|Comments Off on Home Prices Up 6.49% Across the Country! [INFOGRAPHIC]