Buying Tips
Low Rates or Lots of Leverage? Buyers Rarely Get Both.
If you’ve been watching mortgage rates lately, you might feel a little stuck. Rates climbed above 7% this year, and a lot of buyers have decided to sit tight and wait for them to come back down. But rates are only half the story. When you buy a home, you usually get one of two…
Read MoreThe Home Insurance Move That Could Save You $440 a Year
When you’re planning a move, every monthly cost counts. That’s why it can be frustrating to see home insurance keep creeping up. According to Intercontinental Exchange, it now makes up 9.6% of the average monthly mortgage payment. But the latest numbers show some progress on that front – as the increases start to slow down.…
Read MoreCredit Scoring Is Changing: 3 Things Homebuyers Should Know
Quick, what credit score do you need to buy a home? If a number pops into your head, there’s a pretty good chance it’s wrong. And the right answer is getting harder to pin down, because the way credit scores are determined and delivered is changing – for the better. Here’s what you need to…
Read MoreWho’s Buying Homes with Cash Right Now?
Ryan Serhant, CEO of SERHANT, says there isn’t just 1 housing market right now. There are really 4: cash buyers, buyers who need a mortgage, homeowners with low mortgage rates, and builders. Today, let’s zoom in on the 1st group – cash buyers. According to the National Association of Realtors (NAR), 27% of homes sold…
Read MoreWhy Builders May Be More Motivated To Sell Than Homeowners
Here’s something most homebuyers don’t think about. When the housing market slows down, homeowners and builders don’t always respond the same way. Think about it. If you’re selling your house and aren’t getting the offers you want, you could make the choice to take it off the market and stay put, and wait for things…
Read MoreWhy More Buyers Are Turning To Adjustable-Rate Mortgages Today
When mortgage rates climb, buying a home can start to feel like trying to hit a moving target. Every jump in rates makes monthly payments bigger, and that pushes a lot of buyers to look for another way in. More and more of them are finding it in the adjustable-rate mortgage, or ARM. The ARM…
Read MoreWant a More Affordable Home? Don’t Overlook Condos.
When you picture buying your first home, chances are you’re imagining a traditional single-family house with its own yard, maybe a garage, and little extra room to grow. But with affordability still tight, getting everything on that list right away may come with a higher price tag than you’re comfortable with right now. So, if…
Read MoreThe Biggest Credit Hurdle for Renters Who Want To Buy
What’s the biggest payment you make every month? If you’re a renter, it’s probably your rent. But did you know that you can pay your rent on time, every time, for years, and it may never show up in your credit history? It’s pretty frustrating, especially if you’d like to buy a home someday and…
Read MoreWhy There are More Homes for Sale Right Now (and What It Means for You)
Mortgage rates being back above 7% isn’t exactly the news most people wanted. But it’s changing the market in ways that matter whether you’re buying or selling. The number of homes for sale is growing faster than it was this time last year. And interestingly, the main reason isn’t a flood of new listings. It’s…
Read MoreMyth vs. Reality: Does the Fed Control Mortgage Rates?
You’ve probably heard the Federal Reserve (the Fed) is raising rates again. And if you’re planning to buy or sell a house, you may be wondering what that means for you. With all the headlines, it’s easy to think the Fed sets mortgage rates. That’s actually a common myth. But the Fed’s decisions can still…
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