Mortgage rates are high, but at least we are not as bad as the 1980s.
Over the past couple of years mortgage rates have risen to the highest rates in 20 years. In March 2024 the current 30-year fixed rate mortgage rate is 6.88% which is more than double what rates were during most of 2020 and 2021. However, when looking at mortgage...
Mortgage rates might not budge much this spring
While mortgage rates don't exactly depend on the Fed's rate decisions, the Fed does have a big influence on the direction they take. And until issues with persistent inflation show more signs of easing, mortgage rates might not drop much. Despite their recent...
Changing real estate commissions will shake up the market
A federal lawsuit has forced changes to the way consumers negotiate and pay real estate agents. In October 2023, a federal jury in Missouri found that the National Association of Realtors (NAR), along with several large brokerages, conspired to inflate Realtors’...
Another interest rate increase. Same old same old Federal reserve.
They are fighting a new type of economic battle with the same approach. Even though they hint the issues may be different this time. On Wednesday May 3rd the Federal Reserve’s policy committee lifted interest rates by a quarter of a percentage point, the 10th hike of...
Things you can do qualify for a lower interest rate
There are several factors that can affect your ability to qualify for a lower interest rate on a mortgage, including: Good credit score: Your credit score is one of the most important factors in determining the interest rate you qualify for on a mortgage. The higher...
How to save money for a down payment
Saving for a down payment on a house can be a challenging but rewarding process. Here are some tips to help you save money: Set a savings goal: Decide how much you need to save for a down payment and set a specific target to work towards. Create a budget: Identify...
Find the right house for your family this spring
Spring is a popular season for house hunting as the weather gets warmer and the housing market picks up. Here are some tips to help you with your spring house hunting: Start early: Spring is a busy time for the housing market, so it’s best to start your search early....
Buying a home right now is a bit different
Home buying right now is completely different to what it was the last couple of years. We are not really seeing major price drops as much as we are seeing less appreciation and homes are on the market longer. The higher interest rates are sidelining a lot of buyers....
First time home buying tips
Buying a home for the first time can be both an exciting and daunting experience. Here are some tips to help you navigate the process: Determine your budget: Before you start looking at homes, figure out how much you can afford. Consider your income, expenses, and...
Regular increases in the federal funds rate could be winding down
The Federal Reserve suggested that the days of regular increases in the federal funds rate could be winding down. The decision to increase federal funds rate by only 25 basis points on March 22, 2023, represents the first major test of its commitment to curtail...