Rates were volatile this week as the market adjusted to a range of mixed signals. The 1-2 punch of a lower Fed interest rate hike and strong jobs data sent rates back up this week, following a month of steady downward movement. This is driven to some extent by uncertainty around inflation – while the […]
real estate
Mortgage applications jump as buyer optimism returns
Buyer energy has returned to the market with benchmarks showing mortgage rates hitting some of their lowest levels since September in the past week. While they have ticked up again over the past few days, reflecting continued rate volatility in the market, some signs show that buyer optimism has renewed.
Where are home prices headed?
Experts look ahead to 2023, but conditions are tough to predict Heading towards the end of the year, we’re seeing a lot of discussion around home prices, along with projections on where they may be headed in the coming months. The National Association of Realtors’ Chief Economist, Lawrence Yun, believes that prices will remain relatively […]
What to expect with rates as a volatile market adjusts
Rates rise again, but volatility remains a constant Even as competition and inventory constraints loosen things up a bit, rising rates have kept affordability a challenge for buyers. We’ve seen significant volatility recently, not just in the wake of a much-expected rate hike from the Federal Reserve, but from world economic events like those surrounding the […]
Vacation Home and Investment Property Mortgages
Buying another property is a dream for many homeowners. Who wouldn’t want to own an additional home, or even earn income from it? But getting a mortgage for an investment property or second home is more complicated than getting a mortgage for your primary residence. If you’re thinking about adding another home to your property […]
The Morty Report: Welcome Aboard
March 25, 2022. I’ll share my take on what’s happening in homebuying. My goal is to cut through the noise and share takeaways to help you to make informed decisions.
What is Cash-Out Refinancing and When is it a Good Option?
What would you do with some extra cash in your pocket? Wipe out your credit card debt once and for all? Update your kitchen? Finally finish your basement? Pay off high-interest student loans or personal loans? Refinancing your mortgage with a cash-out refinance means you might get to check off all the boxes on your […]
How Much Down Payment to Buy a House?
When you want to buy a home, you may not know all the details involved, including how much of a down payment you need. When it comes to mastering a task, such as learning to ride a bike or learning about investments, someone may have taught you. It’s the same with buying a house, so […]
How Much of Your Income Should You Spend on Your Mortgage?
What percentage of income should go to mortgage payments? It’s a good question, particularly when you’re ready to buy a home for the first time. Just like other important financial decisions, you want your monthly mortgage payment to fit seamlessly into your lifestyle. Morty can help you determine what you can comfortably afford to spend […]
How to Calculate Your Mortgage Payment
When shopping for your mortgage or refinancing your mortgage, one of your top-of-mind questions probably sounds a lot like: “What will my monthly mortgage payment be, and how will it fit into my budget?” Your loan amount, principal, interest, term and more play into your monthly payment amount. You will want to feel comfortable making […]
What is a Mortgage? A Guide for Beginners in 2022
Getting a mortgage may seem like a complex task with many layers and steps involved. However, the first step to breaking down the process involves answering the most basic question: “What is a mortgage?” Understanding the very basics of mortgages may help you gain more confidence as you search for your dream home. We’ll walk […]
How Much House Can I Afford?
When buying a home, one of your first thoughts probably turns to the following question: “How much house can I afford?” You may wonder how large of a house you should and can purchase (especially when buying your first home). It’s one of the most important questions you can ask, because you want to feel […]
These Paint Colors Can Add Thousands to a Home’s Pricetag
Hoping to add a few dollars to the selling price of your current home? Then it might be time to break out the rollers, brushes, and painter’s tape. According to a recent study by the folks at Zillow, painting your front door a particular color can increase your home’s selling price by more than $6,000. […]
Your Final Walkthrough: What to Look For and When to Put on the Brakes
You’re almost there, future homeowner! You’ve made a successful offer and sorted out your financing. Your future home appraised well, and it cleared a title search. Now, it’s time for your final walkthrough: one last look around before you officially close this deal. The point of a final walkthrough is to check that the home […]
When Should a Homebuyer Get Pre-Approved for a Mortgage?
As a first-time homeowner, you may not know is exactly when in the home buying process you should tackle the mortgage question. Too many homebuyers wait to worry about home financing until they’re knee-deep in negotiations on their dream home. Discovering a credit or financing issue too late can derail your home-owning hopes and dreams. […]
5 Ways Closing on Your Mortgage Can Go Wrong (plus ways to deal)
This time next year, you could be standing in the doorway of your very own home. That is, of course, if can you avoid the pitfalls and perils that sometimes befall unwary would-be homeowners on the way to closing. Here are a few potentially scary scenarios that might already be keeping you up at night […]
Understanding Real Estate as an Investment
The house-flipping shows on t.v. make it look simple. First, you find a home in need of a little love for a bargain price. Then, you buy it, fix it up, and sell the place quickly for a tidy profit. Easy-peasy—just make a few quick deals and boom! You’re a real estate investor. But like […]
The Best Apps for House Hunting
House hunting is tons of fun, but it’s also a lot of work. Here, we’ve got a rundown of some of our favorite apps for house hunters and soon-to-be-home owners. (If you haven’t yet, check out our Start-to-Finish Guide to House Hunting for tips and advice on finding the perfect home.) myFico myFICO – A […]
It’s Almost Always Cheaper to Buy Than It is to Rent
You’ve probably heard from well-meaning friends or relatives that renting is just throwing money away. That’s not entirely true, of course. Paying rent means you get a place to sleep and store your belongings. And having a place to live is nice. But once you hand over that rent check, you won’t see any of […]
Don’t Wait: Five Good Reasons to Buy a Home in 2017
Homeownership is a dream for many Americans. 2017 might just be the year to make that dream a reality and finally buy a home. If you’ve been on the fence about it, here are five excellent reasons to consider becoming a homeowner this year. Interest rates are still low, but starting to rise Mortgage interest rates […]