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Category: Interest Rates

    The 3 Factors That Affect Home Affordability

    By Monica Young | January 24, 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: “. . . with slowly... Read More

    Pre-Approval in 2023: What You Need To Know

    By Monica Young | January 19, 2023

    Pre-Approval in 2023: What You Need To Know One of the first steps in your homebuying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains: “In a preapproval [sic], the lender tells you which types of loans you may be eligible to take... Read More

    Think Twice Before Waiting for 3% Mortgage Rates

    By Monica Young | January 17, 2023

    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... Read More

    What Past Recessions Tell Us About the Housing Market

    By Monica Young | January 16, 2023

    What Past Recessions Tell Us About the Housing Market It doesn’t matter if you’re someone who closely follows the economy or not, chances are you’ve heard whispers of an upcoming recession. Economic conditions are determined by a broad range of factors, so rather than explaining them each in depth, let’s lean on the experts and... Read More

    Key Terms To Know When Buying a Home

    By Monica Young | January 13, 2023

    Key Terms To Know When Buying a Home Some Highlights Buying a home is a major transaction that can seem even more complex when you don’t understand the terms used throughout the process. If you’re looking to become a homeowner this year, it’s important to know these housing terms and how they relate to the current market so you feel... Read More

    Wondering How Much You Need To Save for a Down Payment?

    By Monica Young | January 3, 2023

    Wondering How Much You Need To Save for a Down Payment? If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. One cost that’s likely top of mind is your down payment. But don’t let a common misconception about how much you need to save... Read More

    What Are Your Goals in the Housing Market This Year?

    By Monica Young | January 2, 2023

    What Are Your Goals in the Housing Market This Year? If buying or selling a home is part of your dreams for 2023, it’s essential for you to understand today’s housing market, define your goals, and work with industry experts to bring your homeownership vision for the new year into focus. In the last year, high... Read More

    Applying For a Mortgage? Here’s What You Should Avoid Once You Do

    By Monica Young | December 28, 2022

    Applying For a Mortgage? Here’s What You Should Avoid Once 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 applying for your home loan.... Read More

    What Buyers Need To Know About the Inventory of Homes Available for Sale

    By Monica Young | November 23, 2022

    What Buyers Need To Know About the Inventory of Homes Available for Sale If you’re thinking about buying a home, you’re likely trying to juggle your needs, current mortgage rates, home prices, your schedule, and more to try to decide if you want to jump into the market. If this sounds like you, here’s one key... Read More

    Mortgage Rates Will Come Down, It’s Just a Matter of Time

    By Monica Young | November 21, 2022

    Mortgage Rates Will Come Down, It’s Just a Matter of Time This past year, rising mortgage rates have slowed the red-hot housing market. Over the past nine months, we’ve seen fewer homes sold than the previous month as home price growth has slowed. All of this is due to the fact that the average 30-year fixed... Read More