The Impact of Changing Mortgage Rates Some Highlights If you’re looking to buy a home, you should know even a small change in mortgage rates has an impact on your purchasing power. These charts show how rates generally affect your monthly payment. The best way to navigate changing mortgage rates and make an informed buying decision is to rely on the expertise of a local real estate Continue Reading about The Impact of Changing Mortgage Rates [INFOGRAPHIC]
Interest Rates
What You Should Know About Rising Mortgage Rates
After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to purchase a home this year, you too may be wondering if now’s the right time to buy or if you should hold off on your search until rates Continue Reading about What You Should Know About Rising Mortgage Rates
Experts Forecast a Turnaround in the Housing Market in 2023
The housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates rose last year. Continue Reading about Experts Forecast a Turnaround in the Housing Market in 2023
The 3 Factors That Affect Home Affordability
If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors that determine housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at CoreLogic, shares: Continue Reading about The 3 Factors That Affect Home Affordability
Think Twice Before Waiting for 3% Mortgage Rates
Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans. Continue Reading about Think Twice Before Waiting for 3% Mortgage Rates
Key Terms for Homebuyers [INFOGRAPHIC]
Key Terms for Homebuyers Some Highlights Knowing key housing terms and how they relate to today’s market is important. For example, when mortgage rates and home prices rise, it impacts how much home you can afford. Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly Continue Reading about Key Terms for Homebuyers [INFOGRAPHIC]
Key Factors That Impact Affordability Today
Key Factors That Impact Affordability Today You can’t read an article about residential real estate without the author mentioning the affordability challenges that today’s buyers face. There’s no doubt homes are less affordable today than they were over the last two years, but that doesn’t mean homes are now unaffordable. There are three measures used to establish home affordability: home Continue Reading about Key Factors That Impact Affordability Today
How Global Uncertainty Is Impacting Mortgage Rates
How Global Uncertainty Is Impacting Mortgage Rates If you’re thinking about buying or selling a home, you’ll want to keep a pulse on what’s happening with mortgage rates. Rates have been climbing in recent months, especially since January of this year. And just a few weeks ago, the 30-year fixed mortgage rate from Freddie Mac approached 4% for the first time since May of 2019. But that climb Continue Reading about How Global Uncertainty Is Impacting Mortgage Rates
