Why Rising Mortgage Rates Push Buyers off the Fence

If you’re thinking about buying a home, you’ve probably heard mortgage rates are rising and have wondered what that means for you. Since mortgage rates have increased over two percentage points this year, it’s natural to think about how this will impact your homeownership plans. Today, buyers are reacting in one of two ways: they’re either making the decision toContinue reading “Why Rising Mortgage Rates Push Buyers off the Fence”

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 doesContinue reading “How Today’s Mortgage Rates Impact Your Home Purchase”

Is It Enough To Offer Asking Price in Today’s Housing Market?

If you’re planning to buy a home this season, you’re probably thinking about what you’ll need to do to get your offer accepted. In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiateContinue reading “Is It Enough To Offer Asking Price in Today’s Housing Market?”

On the Fence of Whether or Not To Move This Spring? Consider This.

If you’re thinking of selling your house, it may be because you’ve heard prices are rising, listings are going fast, and sellers are getting multiple offers on their homes. But why are conditions so good for sellers today? And what can you expect when you move? To help answer both of those questions, let’s turn to the data. Today, there are farContinue reading “On the Fence of Whether or Not To Move This Spring? Consider This.”

Where Are Mortgage Rates Headed?

There’s never been a truer statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American: “You know, the fallacy of economic forecasting is: Don’t ever try and forecast interest rates and or, more specifically, if you’re a real estate economist mortgage rates, because you will always invariably be wrong.”Continue reading “Where Are Mortgage Rates Headed?”

What Has Happened with Mortgage Rates?

2022 has been an interesting year for mortgage rates. January started with rates in the low 3% range and now it’s the end of March. We are now looking at average rates in the upper 4’s! What happened? We knew interest rates would go up this year, the Fed made announcements in January that theyContinue reading “What Has Happened with Mortgage Rates?”

What You Can Expect from the Spring House Market

As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune. Here’sContinue reading “What You Can Expect from the Spring House Market”

What You Need To Know if You’re Thinking About Building a Home

If you’re ready to move up, you may be trying to decide whether you want to buy a home that’s already on the market or build a new one. And since the supply of homes available for sale today is low, you’re willing to consider either avenue. While home builders are doing everything they can to construct moreContinue reading “What You Need To Know if You’re Thinking About Building a Home”

Should I Wait Until I Have 20% Down?

In some markets it may make sense to wait until you have enough down that you do not need to pay mortgage insurance, but, in this market DEFINITELY NOT!!! Mortgage insurance is designed to provide the bank protection against you defaulting on the loan. With a conventional mortgage the bank believes when you have 20%Continue reading “Should I Wait Until I Have 20% Down?”