How To Approach Rising Mortgage Rates as a Buyer

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may be tempted to put your plans on hold in hopes that rates will fall, waiting will only cost you more. Mortgage rates are forecast to continue rising in the year ahead. If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise. How Rising Mortgage Rates Impact You Mortgage rates play a significant...

Why This Housing Market Is Not a Bubble Ready To Pop

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2022. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

Homeownership has become a major element in achieving the American Dream. A recent report from the National Association of Realtors (NAR) finds that over 86% of buyers agree homeownership is still the American Dream. Prior to the 1950s, less than half of the country owned their own home. However, after World War II, many returning veterans used the benefits afforded by the GI Bill to purchase a home. Since then, the percentage of homeowners throughout the country has increased to the current rate of 65.5%. That strong desire for homeownership has kept home values appreciating ever since. The...

Myths About Today’s Housing Market [INFOGRAPHIC]

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2022. Posted in Buying Myths, For Buyers, For Sellers, Infographics, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Selling Myths.

Some Highlights If you’re planning to buy or sell a home today, it’s important to be aware of common misconceptions. Whether it’s timing your purchase as a buyer based on home prices and mortgage rates or knowing what to upgrade or repair before listing your house as a seller, it takes a professional to guide you through those decisions. Let’s connect so you have an expert to help separate fact from fiction in today’s housing market. Content previously posted on Keeping Current Matters

Is It Enough To Offer Asking Price in Today’s Housing Market?

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’re planning to buy a home this season, you’re probably thinking about what you’ll need to do to get your offer accepted. In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiate and typically agree on a revised price that was somewhere between the buyer’s bid and the home’s initial asking price. In today’s real estate market, buyers shouldn’t shop for a home with the same expectations. Things Are Different Today Today’s housing market is anything but normal. According...

How Homeownership Can Help Shield You from Inflation

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

If you’re following along with the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to ensure they’re still worthwhile. If you’ve been thinking about purchasing a home this year, you’re probably wondering if you should continue down that path or if it makes more sense to wait. While the answer depends on your situation, here’s how homeownership can help you combat...

The Dream of Homeownership Is Worth the Effort

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2022. Posted in First Time Home Buyers, For Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’re in the market to buy a home this season, stick with it. Homebuyers face challenges in any market, and today’s is no exception. But if you persevere, your decision to purchase a home will be worth the effort in the end. In fact, a recent survey from Bankrate shows homeownership is so powerful that: “Nearly three in four homeowners say they would still buy their current home if they had it to do [sic] all over again.” That means the results – owning a home and the benefits that come with it – outweigh the effort needed to achieve their goal. If you’re a homebuyer, let that provide...

A Key To Building Wealth Is Homeownership

Written by Palm Harbor FL Mortgage Syndicated User on April 1, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Rent vs. Buy.

The link between financial security and homeownership is especially important today as inflation rises. But many people may not realize just how much owning a home contributes to your overall net worth. As Leslie Rouda Smith, President of the National Association of Realtors (NAR), says: “Homeownership is rewarding in so many ways and can serve as a vital component in achieving financial stability.” Here are just a few reasons why, if you’re looking to increase your financial stability, homeownership is a worthwhile goal. Owning a Home Is a Building Block for Financial Success A recent...

What’s Happening with Mortgage Rates, and Where Will They Go from Here?

Written by Palm Harbor FL Mortgage Syndicated User on April 1, 2022. Posted in For Buyers, Housing Market Updates, Interest Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021 was steady compared to the rapid increase in mortgage rates this year: Just a few months ago, Freddie Mac projected mortgage rates would average 3.6% in 2022. Earlier this month, Fannie Mae forecast mortgage rates would average 3.8% in 2022. As the chart above shows, rates have already surpassed...

There Are Several Great Reasons To Consider Buying a Condo Today

Written by Palm Harbor FL Mortgage Syndicated User on April 1, 2022. Posted in First Time Home Buyers, For Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

If you’re a first-time buyer looking to break into the housing market but struggling to find a home to buy, condominiums (or condos) could be a great alternative for you. Here are a few reasons condos may be something you’ll want to consider. Exploring Condos Could Add Options That Fit Your Budget Supply challenges are a reality across the board in today’s housing market. Broadening your home search to include condos could increase your overall pool of options. Just keep in mind, condos generally differ from single-family homes in average space and floorplans. In a recent article, Bankrate...

What You Need To Know if You’re Thinking About Building a Home

Written by Palm Harbor FL Mortgage Syndicated User on April 1, 2022. Posted in For Buyers, Housing Market Updates, Move-Up Buyers, New Construction, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’re ready to move up, you may be trying to decide whether you want to buy a home that’s already on the market or build a new one. And since the supply of homes available for sale today is low, you’re willing to consider either avenue. While home builders are doing everything they can to construct more houses and help narrow the supply shortage, they’re also facing delays due to factors outside of their control. Here’s the latest on some of the key challenges homebuilders are experiencing today and how they could impact your plans to move up. When you know what’s happening in the industry,...

Category: For Buyers