How the Economy Impacts Mortgage Rates

Written by Melbourne FL Mortgage Syndicated User on July 26, 2024. Posted in Economy, For Buyers, For Sellers, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Mortgage Rates.

As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what’s ahead.One thing that can affect mortgage rates is the Federal Funds Rate, which influences how much it costs banks to borrow money from each other. While the Federal Reserve (the Fed) doesn’t directly control mortgage rates, they do control the Federal Funds Rate.The relationship between the two is why people have been watching closely to see when the Fed might lower the Federal Funds Rate. Whenever they do, that’ll put downward pressure on mortgage...

A Newly Built Home May Actually Be More Budget-Friendly

Written by Melbourne FL Mortgage Syndicated User on July 25, 2024. Posted in Buying Tips, For Buyers, Home Prices, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates.

If you’re in the market to buy a home, there’s some exciting news for you. Many people assume that newly built homes are more expensive than existing ones (houses that have already been lived in), but that’s not always the case. In fact, exploring newly built homes can sometimes lead to more cost-effective options, especially today. Hard to believe, right? But the data doesn’t lie.Here are two key reasons working with your agent to look into new home construction could help you find a more budget-friendly option.Reason 1: Lower Median Prices for Newly Built HomesThe median sales price for newly...

Why a Foreclosure Wave Isn’t on the Horizon

Written by Melbourne FL Mortgage Syndicated User on July 24, 2024. Posted in Forecasts, Foreclosures, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates.

Even though data shows inflation is cooling, a lot of people are still feeling the pinch on their wallets. And those high costs on everything from gas to groceries are fueling unnecessary concerns that more people are going to have trouble making their mortgage payments. But, does that mean there’s a big wave of foreclosures coming? Here’s a look at why the data and the experts say that’s not going to happen.There Aren’t Many Homeowners Who Are Seriously Behind on Their MortgagesOne of the main reasons there were so many foreclosures during the last housing crash was because relaxed lending...

How Affordability and Remote Work Are Changing Where People Live

Written by Melbourne FL Mortgage Syndicated User on July 23, 2024. Posted in Affordability, Buying Tips, For Buyers, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates.

There’s an interesting trend happening in the housing market. People are increasingly moving to more affordable areas, and remote or hybrid work is helping them do it.Consider Moving to a More Affordable AreaToday’s high mortgage rates combined with continually rising home prices mean it’s tough for a lot of people to afford a home right now. That’s why many interested buyers are moving to places where homes are less expensive, and the cost of living is lower. As Orphe Divounguy, Senior Economist at Zillow, explains:“Housing affordability has always mattered . . . and you’re seeing it across...

The Biggest Mistakes Homebuyers Are Making Right Now

Written by Melbourne FL Mortgage Syndicated User on July 20, 2024. Posted in Buying Tips, For Buyers, Infographics, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates.

Some HighlightsWant to know the biggest mistakes homebuyers are making today?They include everything from putting off pre-approval for too long, holding out for the perfect home, buying more than they can afford, and skipping out on hiring a pro. Connect with a real estate agent to make sure you have a pro on your side who can help you avoid these mistakes.

Unlocking Homebuyer Opportunities in 2024

Written by Melbourne FL Mortgage Syndicated User on July 19, 2024. Posted in Buying Tips, For Buyers, Home Prices, Inventory, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates.

There’s no arguing this past year has been difficult for homebuyers. And if you’re someone who has started the process of searching for a home, maybe you put your search on hold because the challenges in today’s market felt like too much to tackle. You’re not alone in that. A Bright MLS study found some of the top reasons buyers paused their search in late 2023 and early 2024 were:They couldn’t find anything in their price rangeThey didn’t have any successful offers or had difficulty competingThey couldn’t find the right homeIf any of these sound like why you stopped looking, here’s what you...

Why Fixing Up Your House Can Help It Sell Faster

Written by Melbourne FL Mortgage Syndicated User on July 18, 2024. Posted in Agent Value, For Sellers, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Selling Tips.

If you’re thinking about selling your house, you should know there are buyers who are ready and able to pay today’s high prices. But they want a home that’s move-in ready. A recent press release from Redfin explains:“Buyers are still out there and they’re willing to pay today’s high prices, but only if the house is in really good shape. They don’t want to spend extra money on paint or new appliances.”It makes sense when you think about it. They’re having to pay a lot of money for a house in today’s market. That means they may not be able to easily afford upgrades after they move in. So, if...

How To Determine if You’re Ready To Buy a Home

Written by Melbourne FL Mortgage Syndicated User on July 17, 2024. Posted in Agent Value, Buying Tips, For Buyers, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates.

If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind. You’re thinking about your finances, today’s mortgage rates and home prices, the limited supply of homes for sale, and more. And, you’re juggling how all of those things will impact the choice you’ll make.While housing market conditions are definitely a factor in your decision, your own personal situation and your finances matter too. As an article from NerdWallet says:“Housing market trends give important context. But whether this is a good time to buy a house also depends on your financial situation,...

Why Working with a Real Estate Professional Is Crucial Right Now

Written by Melbourne FL Mortgage Syndicated User on July 16, 2024. Posted in Agent Value, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates.

Navigating the housing market can be tricky, especially these days. That’s why having an experienced guide when buying or selling a home is so important. The market isn’t exactly straightforward right now, and working with a real estate expert can offer insights and advice that make all the difference.While today’s market conditions might seem confusing or overwhelming, you don’t have to handle them alone. With a trusted expert leading you through every step, you can navigate the process with the clarity and confidence you deserve.Here are just a few of the ways a real estate...

How Do Presidential Elections Impact the Housing Market?

Written by Melbourne FL Mortgage Syndicated User on July 13, 2024. Posted in Economy, Home Prices, Infographics, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Mortgage Rates.

Some HighlightsAre you wondering if the upcoming election will have an impact on the housing market? Here’s what history tells us you need to know if you’re considering a move.?Data shows home sales slow in November but quickly bounce back and rise the following year. Prices usually keep climbing. And mortgage rates typically come down slightly.Presidential elections have only a small and temporary impact on the housing market. If you have questions, connect with a real estate agent.

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