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What is the Cost of Waiting Until Next Year to Buy? [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 5.1% by the end of 2019. CoreLogic predicts home prices to appreciate by 4.8% over the next 12 months. If you are ready and willing to buy your dream home, find out if you are able to!

By |2019-01-18T05:00:47+00:00January 18th, 2019|First Time Home Buyers, For Buyers, For Sellers, Infographics, Interest Rates, Millennials, Pricing|Comments Off on What is the Cost of Waiting Until Next Year to Buy? [INFOGRAPHIC]

The Cost Across Time [INFOGRAPHIC]

Some Highlights: With interest rates still around 4.5%, now is a great time to look back at where rates have been over the last 40 years. Rates are projected to climb to 5.0% by this time next year according to Freddie Mac. The impact your interest rate makes on your monthly mortgage cost is significant! Lock in a low rate now while you can!

By |2019-01-11T05:00:02+00:00January 11th, 2019|First Time Home Buyers, For Buyers, Infographics, Interest Rates|Comments Off on The Cost Across Time [INFOGRAPHIC]

Is the Recent Dip in Interest Rates Here to Stay?

Interest rates for a 30-year fixed rate mortgage climbed consistently throughout 2018 until the middle of November. After that point, rates returned to levels that we saw in August to close out the year at 4.55%, according to Freddie Mac’s Primary Mortgage Market Survey. After the first week of 2019, rates have continued their downward trend. As Freddie Mac’s Chief Economist Sam Khater notes, this is great news for homebuyers. He states, “Mortgage rates declined to start the new year with the 30-year fixed-rate mortgage [...]

By |2019-01-09T05:00:39+00:00January 9th, 2019|First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates|Comments Off on Is the Recent Dip in Interest Rates Here to Stay?

Excited About Buying A Home This Year? Here’s What to Watch

As we kick off the new year, many families have made resolutions to enter the housing market in 2019. Whether you are thinking of finally ditching your landlord and buying your first home or selling your starter house to move into your forever home, there are two pieces of the real estate puzzle you need to watch carefully: interest rates & inventory. Interest Rates Mortgage interest rates had been on the rise for much of 2018, but they made a welcome reversal at the end [...]

By |2019-01-02T05:00:34+00:00January 2nd, 2019|First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers|Comments Off on Excited About Buying A Home This Year? Here’s What to Watch

Where is the Housing Market Headed in 2019? [INFOGRAPHIC]

Some Highlights: ­Interest rates are projected to increase steadily throughout 2019, but buyers will still be able to lock in a rate lower than their parents or grandparents did when they bought their homes! Home prices will rise at a rate of 4.8% over the course of 2019 according to CoreLogic. All four major reporting agencies believe that home sales will outpace 2018!

By |2018-12-28T05:00:42+00:00December 28th, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Move-Up Buyers, Pricing|Comments Off on Where is the Housing Market Headed in 2019? [INFOGRAPHIC]

24 Hours that Suddenly Improved the Market

This year started strong for real estate, but then the market began to soften. Home inventory in the starter and move-up categories dwindled to almost nothing, mortgage rates were projected to rise, and home sales had decreased for several months in a row. To many, the outlook heading into 2019 appeared dim… at best. Then, in a 24-hour window last week, things seemed to change. On Wednesday, the National Association of Realtors’ (NAR) revealed in their Existing Homes Sales Report that home sales had INCREASED for the second [...]

By |2018-12-27T05:00:11+00:00December 27th, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates|Comments Off on 24 Hours that Suddenly Improved the Market

How to Save Thousands of Dollars in Interest on Your Mortgage

One of the most common loans you can get to buy a home is a 30-year fixed rate mortgage. If the thought of paying for your home over the course of 30-years seems daunting, here are some easy ways to shorten that term which will actually end up saving you money over the life of your loan. Any additional payments to the principal amount (the original sum of money borrowed in a loan), helps to cut down the amount of interest that you will pay [...]

By |2018-12-26T05:00:00+00:00December 26th, 2018|First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers|Comments Off on How to Save Thousands of Dollars in Interest on Your Mortgage

What If I Wait A Year to Buy a Home?

National home prices have increased by 5.4% since this time last year. Over that same time period, interest rates have remained near historic lows which has allowed many buyers to enter the market and lock in low rates. As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price but instead about the ‘long-term cost’ of the home. The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage [...]

By |2018-12-10T05:00:13+00:00December 10th, 2018|First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers|Comments Off on What If I Wait A Year to Buy a Home?

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 a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily throughout 2019. How Will This Impact Your Mortgage Payment? Depending on the amount of [...]

By |2018-12-05T05:00:43+00:00December 5th, 2018|First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers|Comments Off on Where Are Interest Rates Headed in 2019?

Why Has Housing Supply Increased as Sales Have Slowed Down?

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the inventory of homes for sale this year compared to last year has increased for the last four months, all while sales of existing homes have slowed compared to last year’s numbers. For over three years leading up to this point, the exact opposite was true; Inventory dropped as sales soared. NAR’s Chief Economist Lawrence Yun shed some light on what could be contributing to this shift, “This is the [...]

By |2018-11-07T05:00:43+00:00November 7th, 2018|For Buyers, For Sellers, Housing Market Updates, Interest Rates, Pricing|Comments Off on Why Has Housing Supply Increased as Sales Have Slowed Down?