Interest rates for a 30-year fixed rate mortgage have been on the decline since November, now reaching lows last seen in January 2018. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates came in at 4.12% last week! This is great news for anyone who is planning on buying a home this spring! Freddie Mac had this to say, “Mortgage interest rates have been steadily declining since the start of 2019. These lower mortgage interest rates combined with a strong labor market should attract … [Read more...]
Homeowners: Now Is A Good Time To Sell Your House
Every month, the National Association of Realtors (NAR) releases their Seller Traffic Index as a part of their Realtors Confidence Index. In the latest release, NAR reported that homeowners have been reluctant to sell their houses. This is reflected when broken down by state. Only 11 states have a stable level of seller traffic compared to the remainder of the country, which came in with a weak rating. As we can see in the following table, the number of people who moved last year is half of what the rate was in the … [Read more...]
3 Questions You Need To Ask Before Buying A Home
If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family have your best interests at heart, they may not be fully aware of your needs and what is currently happening in the real estate market. Ask yourself the following three questions to help determine if now is a good time for you to buy in today’s market. 1. Why am I buying a home in the first place? This is truly the most important question to answer. Forget the finances for a minute. Why … [Read more...]
Slaying the Largest Homebuying Myths Today [INFOGRAPHIC]
Some Highlights: The average down payment for first-time homebuyers is only 6%! Mortgage interest rates have been on the decline since November! Hop in now to lock in a low rate! 88% of property managers raised their rents in the last 12 months! The average credit score on approved loans continues to fall across many loan types! … [Read more...]
3 Graphs that Show What You Need to Know About Today’s Real Estate Market
The Housing Market has been a hot-topic in the news lately. Depending on which media outlet you watch, it can start to be a bit confusing to understand what’s really going on with interest rates and home prices! The best way to show what’s really going on in today’s real estate market is to go straight to the data! We put together the following three graphs along with a quote from Chief Economists that have their finger on the pulse of what each graph illustrates. Interest Rates: “The real … [Read more...]
Don’t Let Your Luck Run Out! Buy A Home This Spring [INFOGRAPHIC]
Some Highlights: Interest Rates for a 30-year fixed rate mortgage have dropped to 4.41% from near 5% in 2018. Take advantage of more inventory coming to market in the spring to find your dream home! Buying now will allow you to start earning equity today! … [Read more...]
4 Reasons to Buy a Home in the Spring
Spring has sprung, and it’s a great time to buy a home! Here are four reasons to consider buying today instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest U.S. Home Price Insights reports that home prices have appreciated by 4.4% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.6% over the next year. Home values will continue to appreciate for years. Waiting no longer makes sense. 2. Mortgage Interest Rates Are Projected to … [Read more...]
The Housing Market Will “Spring Forward” This Year!
Just like our clocks this weekend, in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale has been holding back the market. Many potential sellers believe that waiting until Spring is in their best interest. Traditionally, they would have been right. Buyer demand has seasonality to it. Usually, this falls off in the winter months, especially in areas of the country impacted by arctic … [Read more...]
Interest Rates Hit New 12 Month Low!
According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at their lowest for 2019. Rates like these haven’t been seen since February 2018! Last week’s survey results reported an interest rate of 4.35%. This is a welcome change from the near 5% rates seen in mid-November. At 4.32%, the second week of February 2018 was the last time rates were this low. This can be seen in the chart below. Freddie Mac’s Chief Economist, Sam … [Read more...]
What is the Cost of Waiting Until Next Year to Buy? [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 the end of 2019. CoreLogic predicts home prices to appreciate by 4.8% over the next 12 months. If you are ready and willing to buy your dream home, find out if you are able to! … [Read more...]
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