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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?

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. When it comes to today’s real estate market, though, the top two factors to consider are what’s happening with interest rates & inventory. Interest Rates Mortgage interest rates have been on the rise and are now over three-quarters of a percentage point higher [...]

By |2018-10-03T04:00:12+00:00October 3rd, 2018|First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers, Pricing|Comments Off on 2 Factors to Watch in Today’s Real Estate Market Whether Buying or Selling

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]

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?

What Does the Future Hold for Home Prices?

Home prices are at the top of everyone’s minds. Can they maintain their current pace of appreciation? Will rising mortgage rates negatively impact home values? Will the next economic slowdown cause prices to crash? Let’s try to answer these questions based on what has happened in the past as well as what we know about the current real estate market. The Impact of Rising Interest Rates We explained earlier this year that rising mortgage rates have not negatively impacted home prices in the past and [...]

By |2018-09-06T04:00:39+00:00September 6th, 2018|For Buyers, For Sellers, Housing Market Updates, Interest Rates, Pricing|Comments Off on What Does the Future Hold for Home Prices?

Rent or Buy: Either Way You’re Paying A Mortgage!

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”: “While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about [...]

By |2018-08-27T04:00:38+00:00August 27th, 2018|First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Rent vs. Buy|Comments Off on Rent or Buy: Either Way You’re Paying A Mortgage!

Rising Interest Rates Have Not Dampened Demand

Since the beginning of the year, mortgage interest rates have risen over a half of a percentage point (from 3.95% to 4.52%), according to Freddie Mac. Even a small rise in interest rates can greatly impact a buyer’s monthly mortgage payment. First American recently released the results of their quarterly Real Estate Sentiment Index (RESI), in which they surveyed title and real estate agents across the country about the impact of rising rates on first-time homebuyers. Real estate professionals around the country have not noticed [...]

By |2018-07-11T04:00:18+00:00July 11th, 2018|First Time Home Buyers, For Buyers, Interest Rates, Millennials, Move-Up Buyers|Comments Off on Rising Interest Rates Have Not Dampened Demand

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 5.1% 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 |2018-07-06T04:00:11+00:00July 6th, 2018|First Time Home Buyers, For Buyers, Infographics, Interest Rates, Move-Up Buyers|Comments Off on Cost Across Time [INFOGRAPHIC]

Homes are More Affordable in 44 out of 50 States

With both home prices and mortgage rates increasing this year, many are concerned about a family’s ability to purchase a major part of the American Dream – its own home. However, if we compare housing affordability today to the average affordability prior to the housing boom and bust, we are in much better shape than most believe. In Black Knight’s latest monthly Mortgage Monitor, they revealed that in the vast majority of the country, it is actually more affordable to purchase a home today than [...]

By |2018-06-21T04:00:09+00:00June 21st, 2018|First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Pricing|Comments Off on Homes are More Affordable in 44 out of 50 States