The market is changing quickly, as the Fed raises rates again This week, the Federal Reserve met and issued another interest rate hike as it works to bring the rate of inflation back to 2% (it came in at 8.2% in September). For homebuyers, rate hikes have contributed to volatility in the secondary mortgage market (where mortgages are bundled and sold as securities), helping … [Read more...] about The Fed’s rate hike: a guide for homebuyers
the morty report
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 central … [Read more...] about What to expect with rates as a volatile market adjusts
The Fed’s latest rate hike: here’s what homebuyers need to know
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
Does homebuying have ‘seasons?’
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?’
The lowdown on low-down payment mortgages
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
