We’ve seen an increase in new construction loans recently as inventory remains at historic lows. But what happens if you were counting on 3% mortgage rates when they signed a contract over a year ago to purchase a home that still isn’t ready today? The price shock is real for many of these new construction homebuyers, but there are ways to help safeguard you from this … [Read more...] about To buy or not to buy: What rising rates mean for new construction loans
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What to keep an eye on as home sales fall and prices rise
Existing home sales fell 3.4% in May while the median home price rose above $400,000 for the first time, according to data just released by the National Association of Realtors (NAR). Despite the headlines, these numbers aren’t necessarily a reason to panic. While yes, home sales are down overall, we’re still in a “wait and … [Read more...] about What to keep an eye on as home sales fall and prices rise
The Morty Report: What the rate hike means for mortgages
Not sure what to do? Ask Robert!We’ll address homebuyer FAQs each week. Submit your question for a chance to be featured in an upcoming newsletter. Email MortyReport@morty.com or find us on Twitter @HiMorty. Reader Question of the Week: How quickly will we see a change in mortgage rates after a Federal Reserve meeting? - Mel C. in Broomfield, CO There’s a common … [Read more...] about The Morty Report: What the rate hike means for mortgages
The Morty Report: Are We Finally Catching a Break?
Not sure what to do? Ask Robert!We’ll address homebuyer FAQs each week. Submit your question for a chance to be featured in an upcoming newsletter. Email MortyReport@morty.com or find us on Twitter @HiMorty. What to do Want to lower your interest rate? There’s several options to explore here. Float-down options are a provision that allow buyers to, in some cases, lower … [Read more...] about The Morty Report: Are We Finally Catching a Break?
The Morty Report: Affordability down 29%
Stay in the loop. Click here to subscribe to our bi-weekly newsletter. Plus, check out The Morty Report archives to catch up on previous editions. Read more of Robert's recent insights: In case you missed it The chart from Axios gives a clear visual depiction of the YoY change in affordability. Learn The ABC’s of ARMs: How Adjustable-Rate Mortgages … [Read more...] about The Morty Report: Affordability down 29%
