Lower rates at last?
Inflation shows some improvement, but how does it impact homebuyers?
Inflation shows some improvement, but how does it impact homebuyers?
Experts look ahead to 2023, but conditions are tough to predict Heading towards the end of the year, we’re seeing a lot of discussion around home prices, along with projections on where they may be headed in the coming…
The market is changing quickly, as the Fed raises rates again. What to do: focus on Affordability, don’t panic, know your options.
Rates rise again, but volatility remains a constant Even as competition and inventory constraints loosen things up a bit, rising rates have kept affordability a challenge for buyers. We’ve seen significant volatility recently, not just in the wake of…
You may have heard that the Federal Reserve raised the federal funds rate by .75% on Wednesday. This rate controls how expensive it is for banks to borrow and lend from each other – which influences how much it…
Seasons change, but do they change the market, too? Whether it’s the end of a lease or the start of a new job, there are often deadlines driving the home search. But regardless of what’s on the calendar, buyers…
The new Community Affordable Loan Solution, Bank of America’s “no-down” mortgage program, is only one of a growing number of no- and low-down payment mortgage options.
Three simple steps for first-time homebuyers to follow, especially in a competitive market
Prices still projected to rise – but stable for now Recent real estate headlines might look a little bleak, with descriptions like “plunging” home prices and a “slumping” market. But are they really? Let’s start with the market: Yes,…
If you are looking to restart your search for a home, it can be tempting to jump straight into getting a pre-approval. But you may want to spend some time sorting out your finances first, as it’ll give you a more realistic snapshot of what you can afford in a fast-changing market.
Should you rent or buy? Rents have risen significantly in many cities, along with home prices and mortgage rates. But high rates don’t automatically make it a bad time to buy.
August 5, 2022. What the market’s ‘new normal’ means for buyers. Mortgage rates dipped slightly even after the Fed raised interest rates again last week – further illustrating that the market is driven by a range of macroeconomic factors (and not solely by inflation).
A rent-to-own property can provide another avenue to homeownership — but it’s not the right option for everyone. Learn the pros and cons of rent-to-own, and in what situations it could be an option worth exploring.
July 29, 2022. The new normal. We saw new data from the National Association of Realtors that purchase contracts dropped by 8.6% in June – the lowest since 2011. We also saw the Federal Reserve raise interest rates again in a continued effort to curb inflation.
What does affordability mean to you? A list of the “Top 10 Affordable Cities for Middle-Class Homebuyers” certainly sounds promising for homebuyers chasing affordability – but what does that actually mean?
July 15, 2022. Last month, nearly 15% of purchase agreements in the U.S. fell through before closing – a possible signal that buyers are gaining more negotiating power amid the market slowdown.
July 8, 2022. Rates are volatile this week, heading up mid-week after dropping for two weeks in a row on the heels of some positive inflation data.
June 30, 2022. We’ve seen an increase in new construction loans recently as inventory remains at historic lows. But what happens if you were counting on 3% mortgage rates when they signed a contract over a year ago to purchase a home that still isn’t ready today?
June 24, 2022. Existing home sales fell 3.4% in May while the median home price rose above $400,000 for the first time, according to data just released by the National Association of Realtors (NAR). Despite the headlines, these numbers aren’t necessarily a reason to panic.
June 16, 2022. Some mortgage rates crept above 6% this week, as the market reacted to higher-than-expected inflation data and sought to price in anticipated rate hikes coming out of this week’s Federal Reserve meeting.