Posts with tag 'Money saving tips'
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Why Falling Mortgage Rates Make Now the Perfect Time to Buy a Home
Why Falling Mortgage Rates Make Now the Perfect Time to Buy a Home
If you've been thinking about buying a home, the current market conditions present a unique opportunity. Falling mortgage rates have been making headlines, and while this may seem like just another economic indicator, it directly impacts you as a potential homebuyer. Lower rates mean more buying power, less interest paid over the life of the loan, and a greater selection of homes in your price range. Here's why now could be the best time to take the plunge into homeownership.
- Increased Purchasing Power
Mortgage rates may seem like small percentages, but they can have a huge impact on your monthly payment. For example, a 1% drop in rates could save you hundreds of dollars each month, allowing you to afford more home for the same budget. With...
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People Want Less Expensive Homes – And Builders Are Responding
In today's housing market, there are two main affordability challenges impacting buyers: mortgage rates that are higher than they've been the past couple of years, and rising home prices caused by low inventory. To overcome those challenges, many people are working with their agents to find less expensive homes. And with newly built homes making up a historically large percentage of the total available inventory today, that search often includes brand new homes.
People Are Spending Less on Newly Built Homes
The graph below uses the latest information from the Census to show, in June, more of the newly built ho...
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Tips for Making Your Best Offer on a Home
While the wild ride that was the 'unicorn' years of housing is behind us, today's market is still competitive in many areas because the supply of homes for sale is still low. If you're looking to buy a home this season, know that the peak frenzy of bidding wars is in the rearview mir...
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What Homebuyers Need To Know About Credit Scores
If you're thinking about buying a home, you should know your credit score's a critical piece of the puzzle when it comes to qualifying for a home loan. Lenders review your credit to assess your ability to make payments on time, to pay back debts, and more. It's also a factor that helps determine your mortgage rate. An article from Bankrate
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The Best Time To Sell Your House Is When Others Aren't Selling
If you're thinking about selling your house, you should know the number of homes for sale right now is low. That's because, this season, there are fewer sellers listing their houses for sale than the norm.
Looking back at every April since 2017, the only year when fewer sellers listed their homes was in April 2020, when the pandemic hit and stalled the housing market (shown in red in the graph below). In more typical years, roughly 500,000 sellers add their homes to the market in April. This year, we saw fewer than 400,000 sellers entering the market in April (see gr...