In many markets across the country, the amount of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.
Read MoreThere are some industry pundits claiming that residential home values have risen too quickly and that current levels are on the verge of another housing bubble. It is easy to see how this thinking has taken form if we look at a graph of home prices from 2000 to today.
Read MoreSome industry pundits are saying that the housing market may be heading for a slowdown. One of the data points they use is the falling numbers of the Housing Affordability Index, as reported by the National Association of Realtors (NAR).
Read MoreWhether buying your first home or moving up to your dream home, knowing your options will definitely make the mortgage process easier. Your dream home may already be within your reach.
Read MoreThere are some people that haven't purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage - either yours or your landlord’s.
Read MoreIt's been exactly one year since my husband and I purchased our first home. As one might expect, we've learned a number of valuable lessons this past year. There are plenty of articles full of useful tips for first-time home buyers. I am not going to repeat them. Instead, I will list the lessons I personally learned that I didn't find covered anywhere else.
Read MoreYou may have noticed that interest rates were on the rise over the past few months, due to anticipation that the Fed would reduce their level of bond purchases. Instead, Fed recently announced that they would continue their current pace of purchasing bonds until the economy is stronger. As a result, rates actually decreased. However, industry experts expect the Fed to taper the bond purchasers in December, allowing a small window of opportunity for buyers.
If you are in the market to buy, make sure to take advantage of this window of opportunity, as experts except interest rates to rise upwards of 5% by this time next year.
“With mortgage rates creeping up toward 5% as 2013 draws to a close, potential home buyers have some decisions to make — and soon. The danger for potential homebuyers isn’t that mortgage rates are nearing 5.00%; the real threat is that rates could go higher, to 5.50% or even 6.00% in 2014.”
Read More
