Apr 08
Can’t decide whether to rent or buy in this crazy market? Here is a list of reasons why buying a home makes the most sense. Century 21 All-Elite and lender Ken Jordan, NMLS 183317 of Princeton Mortgage can help you along the way with what makes the most sense for you. #rentvsbuy
Apr 05
Not sure what loan product is best for you? This is the list of our products we offer along with some other options. Reach out to Century 21 All-Elite and lender Ken Jordan, NMLS 183317 of Princeton Mortgage to see what the best match is for you! #productforyou
Apr 04
How much can a 1-0 buydown save you? These product guidelines explain the process of getting approved for a 1-0 buydown. Talk to your agent today on how to structure your offer. Ask Century 21 All-Elite and lender Ken Jordan, NMLS 183317 of Princeton Mortgage who have your best interests at heart! #buydown
Apr 03
The 30-year fixed rate mortgage averaged 2.96% just a year ago; this week, it averages 5.27%, Freddie Mac reports. “Mortgage rates resumed their climb this week as the 30-year fixed reached its highest point since 2009,” said Sam Khater, Freddie Mac’s chief economist. “While housing affordability and inflationary pressures pose challenges for potential buyers, house …
Apr 02
More home buyers are reaching for the ARMs. Adjustable-rate mortgages generally offer a lower introductory mortgage rate that is locked in for five, seven, or 10 years before then adjusting. As mortgage rates rapidly rise, some buyers may be getting priced out, unless they lock in an ARM, which may have an introductory rate closer …
Apr 01
As home prices continue to increase, homeowners are getting richer and richer. About 45% of mortgaged residential properties in the U.S. were considered “equity rich” in the first quarter, up from about 32% a year earlier, according to a new report from ATTOM Data Solutions. Equity rich means that the combined estimated amount of the …
Mar 29
Mortgage rates continue to push higher, but home buyers aren’t spooked. Mortgage applications for home purchases moved 5% higher last week compared to the previous week, and buyer competition remains elevated in many markets. Even as costs rise, buyers remain focused on their homeownership aspirations. The 30-year fixed-rate mortgage rose to a 5.30% average last …
Mar 28
With home prices rising, home buyers are bringing higher down payments to make their offers more attractive to sellers. Buyers are offering about twice as much cash for down payments as they did two years ago, according to realtor.com® data. Buyers, on average, offered a $28,000 down payment in the first quarter. In 2020, down …
Mar 27
Fifty-six percent of home buyers went with the first mortgage rate offer they received, according to a new survey from LendingTree of more than 1,000 homeowners. But nearly half of those who gathered multiple quotes reported that they saved money by doing so—46% of borrowers who shopped around said the first offer they received was …
Mar 26
The 30-year fixed-rate mortgage fell slightly this week, a temporary retreat after weeks of steady increases. The 30-year fixed-rate mortgage averaged 5.25%, Freddie Mac reports. Rates dropped following the 10-year Treasury yield trend this week. Last week’s average was 5.30%. “Economic uncertainty is causing mortgage rate volatility,” says Sam Khater, Freddie Mac’s chief economist. “As …
Mar 25
The typical home buyer could save $260 per month with an adjustable-rate mortgage over a 30-year fixed-rate mortgage, or more than $15,000 in five years, a new study from Redfin shows. That marks the largest savings since at least 2015. A 5/1 ARM means the interest rate is fixed for the first five years and …
Mar 21
After weeks of rising rates, mortgage rates are now falling. The 30-year fixed-rate mortgage averaged 5.10% this week, Freddie Mac reports. “Mortgage rates decreased for the second week in a row due to multiple headwinds that the economy is facing,” says Sam Khater, Freddie Mac’s chief economist. “Despite the recent moderation in rates, the housing …
