Are More Homeowners Selling as Mortgage Rates Come Down?

Written by Palm Harbor FL Mortgage Syndicated User on February 1, 2024. Posted in Buying Myths, For Buyers, Housing Market Updates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability. But there’s another way this benefits you – it may inspire more homeowners to put their houses up for sale.The Mortgage Rate Lock-In EffectOver the past year, one factor that’s really limited the options for your move is how few homes were on the market. That’s because many homeowners chose to delay their plans to sell once mortgage rates went up. An article from Freddie Mac explains:“The lack of housing supply was partly driven by the rate lock-in effect. . . . With...

3 Key Factors Affecting Home Affordability

Written by Palm Harbor FL Mortgage Syndicated User on February 1, 2024. Posted in Buying Myths, For Buyers, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

Over the past year, a lot of people have been talking about housing affordability and how tight it’s gotten. But just recently, there’s been a little bit of relief on that front. Mortgage rates have gone down since their most recent peak in October. But there’s more to being able to afford a home than just mortgage rates.To really understand home affordability, you need to look at the combination of three important factors: mortgage rates, home prices, and wages. Let’s dive into the latest data on each one to see why affordability is improving.1. Mortgage RatesMortgage rates have come down in...

What You Need To Know About Saving for a Home in 2024

Written by Palm Harbor FL Mortgage Syndicated User on January 1, 2024. Posted in Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’re planning to buy a home, knowing what to budget for and how to save may sound intimidating – but it doesn’t have to be. One way to ease those concerns is to make sure you understand some of the costs you may encounter up front. And to do that, always turn to trusted real estate professionals. They can help you set a plan and take a strategic look at your budget and your process before you even get started.Here are just a few things experts say you should be thinking about.1. Down PaymentSaving for your down payment is likely top of mind as you set out to buy a home. But do you know...

Get Ready To Buy a Home by Improving Your Credit Score

Written by Palm Harbor FL Mortgage Syndicated User on January 1, 2024. Posted in Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

As the new year approaches, the idea of buying a home might be on your mind. It’s an exciting goal to set, and it’s never too early to start laying the groundwork. One crucial step to prepare for homeownership is building a solid credit score.Lenders review your credit to assess your ability to make payments on time, pay back debts, and more. It’s also a factor that helps determine your mortgage rate. An article from CNBC explains:“When it comes to mortgages, a higher credit score can save you thousands of dollars in the long run. This is because your credit score directly impacts your...

These Non-Financial Benefits Turn a House into a Happy Home

Written by Palm Harbor FL Mortgage Syndicated User on January 1, 2024. Posted in Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

There’s no denying the long-term financial benefits of owning a home, but today’s housing market may have you wondering if now’s still the time to buy. While the financial aspects of homeownership are important, the non-financial and emotional reasons are too. Here’s why.The word home truly means something different to everyone. Whether it’s sharing memories with loved ones around the kitchen table or settling in to read a book in your favorite chair, the emotional connections we have to our homes can be just as important as the financial ones. Here are some of the things that turn a house into...

Is Owning a Home Still the American Dream for Younger Buyers?

Written by Palm Harbor FL Mortgage Syndicated User on December 1, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Everyone has their own idea of the American Dream, and it’s different for each person. But, in a recent survey by Bankrate, people were asked about the achievements they believe represent the American Dream the most. The answers show that owning a home still claims the #1 spot for many Americans today (see graph below): In fact, according to the graph, owning a home is more important to people than retiring, having a successful career, or even getting a college degree. But is the dream of homeownership still alive for younger generations?A recent survey by 1000watt dives into how the two...

Are the Top 3 Housing Market Questions on Your Mind?

Written by Palm Harbor FL Mortgage Syndicated User on December 1, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Selling Myths.

When it comes to what’s happening in the housing market, there’s a lot of confusion going around right now. You may hear one thing in conversation with your friends, see something totally different on the news, and read something on social media that contradicts both of those thoughts. And, if you’re thinking about making a move, that can leave you with a lot of lingering questions. That’s where a trusted local real estate agent comes in.Here are the top 3 questions people are asking about today’s housing market, and the data to help answer them.1. What’s Next for Mortgage Rates?Mortgage rates...

Is Wall Street Buying Up All the Homes in America?

Written by Palm Harbor FL Mortgage Syndicated User on December 1, 2023. Posted in Buying Myths, For Buyers, Housing Market Updates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’re thinking about buying a home, you may find yourself interested in the latest real estate headlines so you can have a pulse on all of the things that could impact your decision. If that’s the case, you’ve probably heard mention of investors, and wondered how they’re impacting the housing market right now. That could leave you asking yourself questions like:How many homes do investors own?Are institutional investors, like large Wall Street Firms, really buying up so many homes that the average person can’t find one?To answer those questions, here’s the real story of what’s happening...

Why Homeowners Are Thankful They Own

Written by Palm Harbor FL Mortgage Syndicated User on December 1, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Rent vs. Buy.

Countless people have set out on the exciting journey of homeownership. Ask around and you’ll find the vast majority are thankful they took the leap and bought a home. But why? It’s because of the many emotional and lifestyle benefits that come with being a homeowner.So, if you’re trying to decide if you want to rent or buy a home, here are just a few of the many benefits you could look forward to if you buy.It’s a Safe HavenOwning a home goes beyond just having a roof over your head. It provides a sense of security and safety. In fact, in a survey from Fannie Mae, respondents say “having a...

Are There Actually More Homes for Sale Right Now?

Written by Palm Harbor FL Mortgage Syndicated User on December 1, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Selling Myths.

If you’re looking to make a move, you want to be sure you have the latest information on the housing market. To help make that possible, here’s an update on the supply of homes for sale today. Whether you’re looking to buy or sell, the number of homes available in your local market matters to you. Take a look below. What’s the Truth About Today’s Housing Inventory?While the story for the past few years has been how few homes are on the market, recent national data may leave you feeling a bit confused. That’s because Realtor.com shows inventory is actually growing a bit month-over-month in many...

Category: Buying Myths