A high credit score is essential for securing favorable mortgage rates, with scores in the 700s typically qualifying for the best offers. Increasing your down payment can also lower rates and eliminate private mortgage insurance. It's important to compare rates from various lenders, including local banks and online options, to find the best deal. Strategies … Continued
Mortgage interest rates are declining, with expectations for further cuts as the Federal Reserve prepares to lower its federal funds rate. Prospective homebuyers should take strategic steps now to prepare for these changes. Key actions include shopping for lenders to find the best rates, boosting credit scores, exploring alternative mortgage options, accurately calculating budgets, and … Continued
A cooling labor market and improved inflation outlook raise expectations of a Federal Reserve rate cut in September. The Fed has kept rates at 5.25% to 5.50% due to economic resilience and persistent CPI levels.
Conventional and FHA loans are popular mortgage options with distinct requirements and costs. Conventional loans: – Require ↑ credit scores – ↓ Payments – Offer ↓ long-term costs
OECD predicts a peak in short-term interest rates at 4.4% in Q1 2025, then a gradual decline. Interest rates are forecasted to decrease to 4.2% in Q2, 4.0% in Q3, and 3.7% in Q4 2025.
Election years can shift buyer and seller behavior, causing lower inventory and potentially higher prices. After elections, market stabilization might lead to more listings and increased negotiating power for buyers.
Recent forecasts offer contrasting views on future home price trends. Zillow predicts a -1.2% decrease in home prices from May 2024 to May 2025, signaling potential market shifts.
If you're looking to buy a house, follow these 13 steps to simplify the process. Start by determining how much you can afford, including all costs like taxes and insurance. Prepare financially by saving for a down payment, paying off debt, and checking your credit score. Shop around for mortgage lenders and get preapproved. Find … Continued
Oxford, MS: Homes appreciate at 14.87%, the highest in the U.S., with an average value of ~$345K. Dodge City, KS: Home prices increased by 14.68%, with an average price of just over $205K.
Homebuyers should take advantage of the current mortgage interest rate climate, which has improved significantly from last year. With rates now around 6.80% for a 30-year mortgage, it's crucial to shop around for the best rates, boost credit scores, understand mortgage options, lock in favorable rates, and be aware of key dates that may affect … Continued