US interest rates for a 30-year fixed rate mortgage have climbed from 3.95% in the first week of January up to 4.61% last week, which marks a 7-year high according to Freddie Mac. Many factors fuel the current pace of acceleration. Sam Khater, Freddie Mac’s Chief Economist, had this to say: “Healthy consumer spending and higher commodity prices spooked bond […]
Recently, Freddie Mac published an Insight Report titled Nowhere to go but up? How increasing mortgage rates could affect housing. The report focused on the impact the projected rising mortgage rates might have on the housing market this year. Many believe that an increase in mortgage rates will cause a slowdown in purchases which would, in turn, lead to a […]
After the financial crisis and housing crash, there were plenty of homes for sale but very few interested buyers. Americans were financially unstable and worried about keeping their jobs. And while they may have liked to buy a house, it wasn’t the right time. Gradually, though, Americans became more secure in their jobs and more […]
VA loans in San Diego are available for eligible veterans who desire to buy a house with some fantastic benefits. If you are looking to purchase a new home in the San Diego area, you may already be gathering all of the information that you need to complete the process successfully. Though you may have […]
Some Highlights: The average down payment for first-time homebuyers is only 6%! Despite mortgage interest rates being over 4%, rates are still below historic numbers. 88% of property managers raised their rents in the last 12 months! The credit score requirements for mortgage approval continue to fall.
There is no doubt that the price of a home in most regions of the country is higher now than at any time in history. However, when we look at the cost of a home, it is cheaper to own today than it has been historically. The Difference Between PRICE and COST The price of a home is the dollar […]