You may have heard that the Federal Reserve raised the federal funds rate by .75% on Wednesday. This rate controls how expensive it is for banks to borrow and lend from each other – which influences how much it costs for most consumers to borrow money, too. What does this news mean for mortgage rates and your homebuying journey? Here’s what you should know about the … [Read more...] about The Fed’s latest rate hike: here’s what homebuyers need to know
Seasons change, but do they change the market, too? Whether it’s the end of a lease or the start of a new job, there are often deadlines driving the home search. But regardless of what’s on the calendar, buyers almost always want to know about seasonality and whether it’s the “right” time of the year to buy. We typically see activity drop slightly this time of year … [Read more...] about Does homebuying have ‘seasons?’
A new zero-down option, plus more ways to put down less on your home This week, Bank of America announced a “no-down” mortgage program called the Community Affordable Loan Solution, aimed at closing the racial homeownership gap. It’s the latest of various no- and low-down payment mortgage options, as growing numbers of buyers seek more affordable paths to becoming … [Read more...] about The lowdown on low-down payment mortgages
When the only certainty is uncertainty, simple rules can help Buying a home for the first time can be scary, but it’s especially true in today’s market. Rates are at a relative high and home sales are on the decline. Uncertainty remains around inflation. It’s understandable that you might be second-guessing yourself right about now. While the current market conditions … [Read more...] about Getting it right the first time: simple steps for first-time homebuyers
Prices still projected to rise – but stable for now Recent real estate headlines might look a little bleak, with descriptions like “plunging” home prices and a “slumping” market. But are they really? Let’s start with the market: Yes, it’s cooling slightly, but no – it’s not as extreme as some might suggest. We have to remember that the frenzied market of the past two … [Read more...] about Are home prices *really* falling?