Mortgage Rates Drop Again this week Mortgage rates continue to decline while lowering borrowing costs for home buyers this spring. “Mortgage rates fell for the fourth consecutive week and continued the medium-term trend of lower rates since late 2018,” says Sam Khater, Freddie Mac’s chief economist. “The drop in mortgage rates is causing purchase demand …
Tag: tips
May 24
Tax Changes Haven’t Held Buyers Back
Tax Changes Haven’t Held Buyers Back Home buyers appear to be less skittish about the potential financial impact of the 2017 Tax Cuts and Jobs Act on their real estate purchases, according to a new Redfin survey of more than 2,000 consumers. The tax reform law, which placed a cap on deductions for mortgage interest …
May 23
Mortgage Rates Shouldn’t Raise As Much
Mortgage Rates Shouldn’t Raise As Much Borrowing costs this year likely will be lower than originally predicted. Freddie Mac recently downgraded its forecast for the 30-year fixed-rate mortgage, projecting it will average 4.3% this year—below last year’s average of 4.5%. Further, Freddie economists predict only a small increase in rates in 2020, with the 30-year …
May 22
Where a $1K Monthly Mortgage Is Most Possible
Where a $1K Monthly Mortgage Is Most Possible Median home list prices have been hitting a record pace—topping a $300,000 average in the United States, according to realtor.com® data. The rise in mortgage prices has come with a higher median cost for home loans, which is up nearly 20% to $229,000, over the past …
May 21
Credit – What to expect during the loan process.
Credit – What to expect during the loan process. Good credit is critical when it comes to obtaining the best interest rates and terms on a mortgage. Here are some credit tips when applying for a mortgage. Stay current, on existing accounts, one 30 day notice can cost you. Continue to use your credit as …
May 20
Best Places to Carve Out a New-Home Niche
Best Places to Carve Out a New-Home Niche Real estate pros may be smart to carve out a new-home niche in the Dallas-Fort Worth, Texas, region. The metro area saw the highest number of new-home construction in the first quarter, according to new data from Metrostudy Inc. Home construction in the metroplex totaled more than …
May 17
REALTORS® Are Leveraging Tech to Reach Clients
REALTORS® Are Leveraging Tech to Reach Clients As house hunters continue to head online to begin their search, more real estate professionals are upping their tech use to meet them there. REALTORS®’ web presence and use of social media have been increasing in recent years, and they consider it a valuable marketing tool to reach …
May 16
Homeowners Added Nearly $10k in Equity
Homeowners Added Nearly $10k in Equity Homeowners continue to see home values increase, along with their equity. Metro home prices nationwide saw an increase of nearly 4% in the first quarter. The national median existing single-family home price was $254,800 in the first quarter, the National Association of REALTORS® reported Tuesday. Single-family home prices rose …
May 15
A pre-approval puts you in control.
A pre-approval puts you in control. A pre-approval is documentation that is provided by a lender that has checked your income, credit history and other documentation to determine the mortgage amount you’re qualified to borrow. To secure a pre-approval, you will provide the same documentation that is needed for and applications. See the photo below, …
May 14
Why house improvements are on the rise?
Why house improvements are on the rise? Those wanting to spruce up a home may need to add more money to their budget. Builders and contractors are warning that new tariffs on Chinese goods will add $2.5 billion in added costs to the home remodeling industry, and those extra costs will be passed on to …
May 13
Equity Rich home ownership Falling
Equity Rich home ownership Falling Home prices are slowing compared to a year ago. That’s prompting the share of properties considered “equity rich” to decrease and the share of “seriously underwater” properties to grow to 9.1% of all U.S., homes, according to a newly released report reflecting first-quarter data from ATTOM Data Solutions. At the end …
May 10
Home Affordability Hurting Sales Volume
Home Affordability Hurting Sales Volume Inventory shortages are continuing to dig into agents’ home sales volume. In 2018, the typical agent completed 11 transactions, the same as 2017, according to the 2019 Member Profile, released by the National Association of REALTORS® and reflecting 12,700 member responses. However, REALTORS® did see a slight uptick in incomes …
