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Home Buying Myths Slayed [INFOGRAPHIC]

Some Highlights: The average down payment for first-time homebuyers is only 6%! Despite mortgage interest rates being over 4%, rates are still below historic numbers. 88% of property managers raised their rents in the last 12 months! The credit score requirements for mortgage approval continue to fall.

By | 2018-04-20T04:00:20+00:00 April 20th, 2018|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Interest Rates, Move-Up Buyers|Comments Off on Home Buying Myths Slayed [INFOGRAPHIC]

Is Family Mortgage Debt Out of Control?

Some homeowners have recently done a “cash out” refinance and have taken a portion of their increased equity from their house. Others have sold their homes and purchased more expensive homes with larger mortgages. At the same time, first-time buyers have become homeowners and now have mortgage payments for the first time. These developments have caused concern that families might be reaching unsustainable levels of mortgage debt. Some are worried that we may be repeating a behavior that helped precipitate the housing crash ten years [...]

By | 2018-04-19T04:00:41+00:00 April 19th, 2018|First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers|Comments Off on Is Family Mortgage Debt Out of Control?

The COST of Your Next Home Will Be LESS Than Your Parents’ Home Was

There is no doubt that the price of a home in most regions of the country is greater now than at any time in history. However, when we look at the cost of a home, it is cheaper to own today than it has been historically. The Difference Between PRICE and COST The price of a home is the dollar amount you and the seller agree to at the time of purchase. The cost of a home is the monthly expense you pay for your [...]

By | 2018-04-12T04:00:28+00:00 April 12th, 2018|First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers|Comments Off on The COST of Your Next Home Will Be LESS Than Your Parents’ Home Was

Mortgage Interest Rates Have Begun to Level Off

Whether you are a buyer searching for your first home, or a homeowner looking to move up to your next home, you should pay attention to where mortgage interest rates are heading. Over the course of 2018, according to Freddie Mac’s Primary Mortgage Market Survey, rates have increased from 3.95% in the first week of January to 4.40% in the first week of April. At first glance, the difference between these numbers in such a short amount of time could be concerning, but if we [...]

By | 2018-04-11T04:00:44+00:00 April 11th, 2018|First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers|Comments Off on Mortgage Interest Rates Have Begun to Level Off

Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate!

Interest rates hovered around 4% for the majority of 2017, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased from 3.95% up to 4.45% and experts predict that rates will increase even more by the end of the year. The rate you secure greatly impacts your monthly mortgage payment and the amount you will ultimately pay for your home. Don’t let the prediction that rates will increase stop you from purchasing your [...]

By | 2018-03-28T04:00:35+00:00 March 28th, 2018|First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers|Comments Off on Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate!

Freddie Mac: Rising Mortgage Rates DO NOT Lead to Falling Home Prices

Recently, Freddie Mac published an Insight Report titled Nowhere to go but up? How increasing mortgage rates could affect housing. The report focused on the impact the projected rise in mortgage rates might have on the housing market this year. Many believe that an increase in mortgage rates will cause a slowdown in purchases which would, in turn, lead to a fall in house values. Ultimately, however, prices are determined by supply and demand and while rising mortgage rates may slow demand, they also affect [...]

By | 2018-03-22T04:00:11+00:00 March 22nd, 2018|Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Pricing|Comments Off on Freddie Mac: Rising Mortgage Rates DO NOT Lead to Falling Home Prices

The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC]

Some Highlights: Interest rates are projected to increase steadily heading into 2019. The higher your interest rate, the more money you end up paying for your home and the higher your monthly payment will be. Rates are still low right now. Don’t wait until rates hit 5% to start searching for your dream home!

By | 2018-03-16T04:00:20+00:00 March 16th, 2018|First Time Home Buyers, For Buyers, Infographics, Interest Rates, Move-Up Buyers|Comments Off on The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC]

Mortgage Rates on FIRE! Home Prices Up in Smoke?

Mortgage interest rates have already risen by over a quarter of a percentage point in 2018. Many are projecting that rates could increase to 5% by the end of the year. What impact will rising rates have on house values? Many quickly jump to the conclusion that an increase in mortgage rates will have a detrimental impact on real estate prices as fewer buyers will be able to qualify for a loan. This seems logical; if there is less demand for housing then prices will [...]

By | 2018-02-22T05:00:10+00:00 February 22nd, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Move-Up Buyers, Pricing|Comments Off on Mortgage Rates on FIRE! Home Prices Up in Smoke?

Should I Wait Until Next Year to Buy? Or Buy Now? [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 2019. CoreLogic predicts home prices to appreciate by 4.3% over the next 12 months. If you are ready and willing to buy your dream home, find out if you are able to!

By | 2018-02-16T05:00:01+00:00 February 16th, 2018|First Time Home Buyers, For Buyers, Infographics, Interest Rates, Millennials, Move-Up Buyers, Pricing|Comments Off on Should I Wait Until Next Year to Buy? Or Buy Now? [INFOGRAPHIC]

Where Are Mortgage Interest Rates Headed in 2018?

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 12 months. How Will This Impact Your Mortgage Payment? [...]

By | 2018-02-07T05:00:48+00:00 February 7th, 2018|First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers|Comments Off on Where Are Mortgage Interest Rates Headed in 2018?