If you are contemplating the acquisition of a home, the recent downturn in mortgage rates emerges as favorable news, contributing to an enhancement in affordability. Furthermore, this economic shift has the potential to motivate an increased number of homeowners to part ways with their properties, thereby presenting an additional advantage for you in your pursuit of homeownership. The Impact of...
If you're a bit confused about the current state of home prices, you're not alone. Despite data indicating otherwise, there are still claims that prices are dropping. This confusion stems from unreliable sources and misleading media coverage. To clarify things, let's focus on the essential information backed by trustworthy data. Normal Home Price Seasonality Explained In the real estate market,...
If you're planning to purchase a home in the current year, you're likely keeping a keen eye on mortgage interest rates. These rates play a significant role in determining the purchasing power of your home loan, and given the current affordability challenges, it's a valuable moment to examine the historical context of mortgage rates compared to their current levels. Additionally, it's crucial to grasp how...
In the final quarter of the previous year, a few housing experts predicted a potential 2023 crash in home prices. These forecasts were widely publicized by the media, generating headlines that painted a bleak picture for the housing market. As a result of this extensive negative news coverage, many individuals began to harbor uncertainties about the robustness of the residential real estate market. If...
If you're considering selling your house at this moment, it's likely due to a change in your life circumstances. While factors like mortgage rates are significant in determining your future purchase, it's crucial to stay focused on the underlying reason for wanting to make a change in the first place. Indeed, mortgage rates have risen from the historically low levels observed in recent years,...
Mortgage rates have significantly increased in the last couple of months, so you're questioning your plans to purchase a home. You're wondering if you should wait for rates to drop. Let's keep it real. Due to inflation, among other factors, rates are only expected to increase in 2023. The Federal Reserve needs time to get inflation under control, so if you're waiting for mortgage rates to decrease, you may...
When it comes time to buy a home, a good credit score boosts your chances of getting a mortgage because it shows lenders or mortgage companies that you are likely to pay a loan on time. Thus, having a bad credit score can be a massive barrier to homeownership. This is why understanding and managing your credit score has always been important. March is National Credit Education Month, which means now...
