Tag: Mortgage Rates

Posted on 03/06/2024
What To Know About Credit Scores Before Buying a Home
If you want to buy a home, you should know your credit score is a critical piece of the puzzle when it comes to qualifying for a mortgage. Lenders review your credit to see if you typically make payments on time, pay back debts, and more. Your credit score can also help determine your mortgage rate. An article...
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Posted on 02/24/2024
How Changing Mortgage Rates Impact You
If you’re looking to buy a home, it’s important to know how mortgage rates impact what you can afford and how much you’ll pay each month. That’s because even a small change in mortgage rates can have a big impact on your purchasing power. The best way to navigate changing mortgage rates and make an informed buying decision...
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Posted on 02/23/2024
Expert Home Price Forecasts for 2024 Revised Up
Over the past few months, experts have revised their 2024 home price forecasts based on the latest data and market signals, and they’re even more confident prices will rise, not fall. So, let’s see exactly how experts’ thinking has shifted – and what’s caused the change. 2024 Home Price Forecasts: Then and Now The chart below shows what...
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Posted on 02/21/2024
Some Experts Say Mortgage Rates May Fall Below 6% Later This Year
There’s a lot of confusion in the market about what’s happening with day-to-day movement in mortgage rates right now, but here’s what you really need to know: compared to the near 8% peak last fall, mortgage rates have trended down overall. And if you’re looking to buy or sell a home, this is a big deal. While they’re...
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Posted on 02/14/2024
Understanding Condo Loans: A Guide for Homebuyers
Home loans are anything but one-size-fits-all. From conventional loans to jumbo loans to adjustable rate mortgages, and more, borrowers come to the table with diverse needs – and it’s your loan officer’s job to connect you with the right mortgage for your situation. But many people don’t know that there’s a different category of mortgages for condominiums. And...
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Posted on 02/14/2024
What’s Really Happening with Mortgage Rates?
Are you feeling a bit unsure about what’s really happening with mortgage rates? That might be because you’ve heard someone say they’re coming down. But then you read somewhere else that they’re up again. And that may leave you scratching your head and wondering what’s true. The simplest answer is: that what you read or hear will vary...
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Posted on 02/07/2024
Why Pre-Approval Is Even More Important This Year
On the road to becoming a homeowner? If so, you may have heard the term pre-approval get tossed around. Let’s break down what it is and why it’s important if you’re looking to buy a home in 2024. What Pre-Approval Is As part of the homebuying process, your lender will look at your finances to figure out what...
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Posted on 02/07/2024
Houses Are Still Selling Fast
Have you been thinking about selling your house? If so, here’s some good news. While the housing market isn't as frenzied as it was during the "unicorn years" when houses were selling quicker than ever, they’re still selling faster than normal. The graph below uses data from Realtor.com to tell the story of median days on the market...
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Posted on 01/31/2024
2 of the Factors That Impact Mortgage Rates
If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why? The answer is complicated because there’s a lot that can influence mortgage rates. Here are just a few of...
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Posted on 01/30/2024
Why It’s More Affordable To Buy a Home This Year
Home affordability depends on three factors: mortgage rates, home prices, and wages. Mortgage rates are down from their recent peak, home prices are expected to rise at a slower pace, and wages are increasing faster than usual. That’s good news if you want to buy a home because it means affordability is getting better....
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Posted on 01/24/2024
Are More Homeowners Selling as Mortgage Rates Come Down?
If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability. But there’s another way this benefits you – it may inspire more homeowners to put their houses up for sale. The Mortgage Rate Lock-In Effect Over the past year, one factor that’s really limited the options...
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Posted on 01/23/2024
Experts Project Home Prices Will Increase in 2024
Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline over the next 12 months. That means almost one out of every four people are dealing with that fear, and you might...
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