Why 'deal's off' is a big deal for buyers. Last month, nearly 15% of purchase agreements in the U.S. fell through before closing – a possible signal that buyers are gaining more negotiating power amid the market slowdown, according to a Redfin analysis. While buyers may be less likely to waive inspections and appraisals in the current conditions, the data also … [Read more...] about Buyer power shifts as affordability falters
closing date promise
Rates are volatile this week, heading up mid-week after dropping for two weeks in a row on the heels of some positive inflation data. Recently released minutes from the Fed’s June meeting point to further steep rate hikes and reflect inflation’s continued impact on monetary policy. This comes as recent … [Read more...] about Shrinking average mortgage indicates opportunity, but not falling prices
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?
We recently launched the Closing Date Promise, our commitment to making sure Morty customers' closings happen on time. The below explains why closings can be such a pain and what to watch out for. A closing date is the date agreed upon by the home seller, home buyer, and all of the other relevant participants in a transaction that marks the end of the home buying journey. … [Read more...] about 6 Annoying But True Reasons Closing Dates Move