How Today’s Mortgage Rates Impact Your Home Purchase

Written by Melbourne FL Mortgage Syndicated User on May 10, 2022. Posted in First Time Home Buyers, For Buyers, Interest Rates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Move-Up Buyers, Pricing.

If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise, so does the monthly payment you’re able to lock in on your home loan. In a rising-rate environment like we’re in today, that could limit your future purchasing power. Today, the average 30-year fixed mortgage rate is above 5%, and in the near term, experts say...

2022 Housing Market Forecast [INFOGRAPHIC]

Written by Melbourne FL Mortgage Syndicated User on May 7, 2022. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Move-Up Buyers, Pricing.

Some Highlights What does the rest of the year hold for the housing market? Here’s what experts have to say about what lies ahead. Home prices are projected to rise and so are mortgage rates. Experts are also forecasting another strong year for home sales as people move to meet their changing needs. Let’s connect so you can make your best move this year. Content previously posted on Keeping Current Matters

Things That Could Help You Win a Bidding War on a Home

Written by Melbourne FL Mortgage Syndicated User on May 4, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Move-Up Buyers, Pricing.

With a limited number of homes for sale today and so many buyers looking to make a purchase before mortgage rates rise further, bidding wars are common. According to the latest report from the National Association of Realtors (NAR), nationwide, homes are getting an average of 4.8 offers per sale. Here’s a look at how that breaks down state-by-state (see map below): The same report from NAR shows the average buyer made two offers before getting their third offer accepted. In this type of competitive housing market, it’s important to know what levers you can pull to help you beat the competition....

Today’s Home Price Appreciation Is Great News for Existing Homeowners

Written by Melbourne FL Mortgage Syndicated User on May 3, 2022. Posted in For Sellers, Housing Market Updates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Move-Up Buyers, Pricing.

If you’re planning to sell your home this season, rising prices are great news for you. But it’s important to understand why prices are rising to begin with. One major factor is supply and demand. In any industry, when there are more buyers for an item than there are of that item available, prices naturally rise. In those situations, buyers are willing to pay more to get the product or service they’re looking for when options are scarce. And that’s exactly what’s happening in the current real estate market. Selma Hepp, Executive, Research & Insights and Deputy Chief Economist at CoreLogic,...

Is It Enough To Offer Asking Price in Today’s Housing Market?

Written by Melbourne FL Mortgage Syndicated User on April 29, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Move-Up Buyers.

If you’re planning to buy a home this season, you’re probably thinking about what you’ll need to do to get your offer accepted. In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiate and typically agree on a revised price that was somewhere between the buyer’s bid and the home’s initial asking price. In today’s real estate market, buyers shouldn’t shop for a home with the same expectations. Things Are Different Today Today’s housing market is anything but normal. According...

How To Approach Rising Mortgage Rates as a Buyer

Written by Melbourne FL Mortgage Syndicated User on April 29, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Move-Up Buyers.

In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may be tempted to put your plans on hold in hopes that rates will fall, waiting will only cost you more. Mortgage rates are forecast to continue rising in the year ahead. If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise. How Rising Mortgage Rates Impact You Mortgage rates play a significant...

Category: Move-Up Buyers