The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your … [Read more...]
Applying For a Mortgage? Here’s What To Avoid After You Do.
While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after … [Read more...]
Financials for First-Time Homebuyers
Are you prepping to buy your first home? If so, one of the steps you should take early on is making sure you’re financially ready for your purchase. Here are just a few of the financial fundamentals you’ll need to focus on as you set out to … [Read more...]
Obtaining a Mortgage Amid Financial Difficulties
It’s no secret that the housing market is hot right now. Demand is high and supply is low, leading to high prices for home buyers. However, in the long term, it’s overwhelmingly a smart financial decision to buy a home as opposed to renting … [Read more...]
Why This Is Not a Housing Bubble In 4 Graphs
A recent survey revealed that many consumers believe there’s a housing bubble beginning to form. That feeling is understandable, as year-over-year home price appreciation is still in the double digits. However, this market is very different … [Read more...]
Why it is Crucial for Homebuyers to be Pre-Approved in 2022
You may have heard that it’s important to get pre-approved for a mortgage at the beginning of the homebuying process, but what does that really mean, and why is it so important? Especially in today’s market, with … [Read more...]
Buy Now Before Mortgage Rates Increase Even More
Last week, the average 30-year fixed mortgage rate from Freddie Mac jumped from 3.22% to 3.45%. That’s the highest point it’s been in almost two years. If you’re thinking about buying a home, this news may have come as a bit of a shock. But … [Read more...]
What To Do Before Mortgage Interest Rates Increase
In today’s real estate market, mortgage interest rates are near record lows. If you’ve been in your current home for several years and haven’t refinanced lately, there’s a good chance you have a mortgage with an interest rate higher than … [Read more...]
Four Reasons a 20% Down Payment is a Good Idea
If you’re thinking of buying a home this year, you may be wondering how much money you need to come up with for your down payment. Many people may think it’s 20% of the loan to secure a mortgage. While there are plenty of lower down payment … [Read more...]
Why Mortgage Rates May Increase and What It Means for Home Buyers
We’re currently experiencing historically low mortgage rates. Over the last fifty years, the average on a Freddie Mac 30-year fixed-rate mortgage has been 7.76%. Today, that rate is 2.81%. Flocks of homebuyers have been taking advantage of … [Read more...]
Do Home Buyers Need a 20% Down Payment?
Is the idea of saving for a down payment holding you back from buying a home right now? You may be eager to take advantage of today’s low mortgage rates, but the thought of needing a large down payment might make you want to pump the … [Read more...]
Over 6 Million Homeowners Entered a Forbearance Plan. How Will This Affect the Housing Market?
According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 6.48 million households have entered a forbearance plan as a result of financial concerns brought on by the … [Read more...]
Here is a Primer on Forbearance and Mortgage Relief Options
Earlier this year when the nation pressed pause on the economy and unemployment rates jumped up significantly, many homeowners were immediately concerned about being able to pay their mortgages, and understandably so. To assist in this … [Read more...]
Exposing the Mortgage Down Payment Myth for Homebuyers
One of the biggest misconceptions for first-time homebuyers is how much you’ll need to save for a down payment. Contrary to popular belief, you don’t always have to put 20% down to buy a house. Here’s how it breaks down. A recent survey … [Read more...]
