You know you’re a reliable and honest person, but the lender knows other people aren’t always like you. As a result, lenders have several standards to help measure your ability to repay the money you borrow.
Interest rates for home loans have been going crazy, especially this last week. The main driver behind the interest rate spike is the looming pullback that no one seems to know when exactly will happen.
Ten years ago the market was setting the foundation to have a major housing crash. Looking back now, for a lot of people, it would have been better to rent. Unfortunately we didn’t know, and a lot of people learned the hard way, that what goes up, must come down.
Getting a new home has been a little more difficult the last few months. More people are trying to buy in a market where less homes are available for sale.
Another large factor in the ability to buy a home is interest rates. Interest rates have been increasing incrementally over the last three months.
We just released this month’s newsletter! We know it’s later than usual, but it’s because we wanted to be able to include the announcement of our new website and video series.
You are very important to us. That’s why we’ve allocated so many of our resources to a new tool for you.
We're thrilled to announce our brand new website, loaded with tools and resources to help you prepare to finance your current or new home!
We’ve talked about it before and you’ve noticed it - housing prices have gone up. In some of the most dramatic circumstances, places in Florida and Nevada saw a 20% increase in home values.
Fortunately the rapid increase in home prices has leveled off. Most analysts predict that home values will continue to increase, but at a much slower rate.
When it comes to buying homes, there are three groups to pay attention to.
The largest group of purchasers is existing homeowners who are “moving-up”, “moving-down”, or “moving-over”. They bought 44.6 percent of homes in June, up from 43.8 percent in May.