Which Loan Fits You: FHA or Conventional?
Conventional and FHA loans are popular mortgage options with distinct requirements and costs. Conventional loans: – Require ↑ credit scores – ↓ Payments – Offer ↓ long-term costs
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Fed’s Rate Path: Forecast to End 2025
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.
5 Tips to Consider for Homebuyers During Election Time
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.
Mixed Price Predictions: Zillow vs. Moody’s Clash
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.
How to buy a house: 13 steps to getting the keys to your new home
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
Where to Buy for Maximum Appreciation This Year
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.
5 critical things homebuyers should do this August
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
Effective strategies for saving up to buy a house
Purchasing a home requires careful planning and disciplined saving. Start by setting a clear savings goal, ideally saving at least 20% for a down payment and accounting for closing costs. Create and stick to a budget, cutting unnecessary expenses. Consider investing a portion of your savings for better returns and open a dedicated high-yield savings … Continued
Why Buy a House Now Before Year-End Rate Cut?
Fannie Mae and NAR expect the 30-year mortgage rate to lower to 6.7% by year-end. The Mortgage Bankers Association forecasts a slightly lower rate of 6.6%.
New Inflation Report Is Good for Homebuyers
Cooling inflation could lead to Federal Reserve rate cuts, resulting in lower mortgage rates.Lower rates make homeownership more affordable with reduced monthly payments and long-term savings.