If you’re planning to buy a home this year, one of the first steps on your journey is getting pre-approved. Especially in today’s market when mortgage rates are higher than they were just a few months ago, getting a mortgage pre-approval can be a game changer. Here’s why. What Is Pre-Approval? To better understand why pre-approval is key, it’s Continue Reading
Mortgage rates have increased significantly in recent weeks. And that may mean you have questions about what this means for you if you’re planning to buy a home. Here’s some information to help you make an informed decision when setting up your homebuying plans. The Impact of Rising Mortgage Rates As mortgage rates rise, they impact your purchasing power by raising the cost of Continue Reading
If you put off your home search at any point over the past two years, you may want to consider picking it back up based on today’s housing market conditions. Recent data shows the supply of homes for sale is increasing, giving buyers like you additional options. In New York City the "30-day pace of Deal Volume is stabilizing in the mid-800s". Urban Digs "suggests Continue Reading
Over the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The mortgage rate drop happened over concerns about a potential recession. And since mortgage rates have risen dramatically this year, homebuyers across the country should see this decline as welcome news. Freddie Mac reports that the average 30-year Continue Reading
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. Today’s Mortgage Rates Impact Your Home Purchase. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates Continue Reading
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