What Mortgage Rate Are You Waiting For?

Written by Rosemary Beach Mortgage Mortgage Syndicated User on August 27, 2024. Posted in Affordability, Mortgage Rates, Mortgage Rosemary Beach, Rosemary Beach Mortgage.

You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years. But there is hope on the horizon. Rates have actually started to come down. And, recently they hit the lowest point we’ve seen in 2024, according to Freddie Mac (see graph below):And if you’re thinking about buying a home, that may leave you wondering: how much lower are they going to go? Here’s some information that can help you know what to expect.Expert Projections for Mortgage RatesExperts say the overall downward trend should continue as long as inflation...

The Great Wealth Transfer: A New Era of Opportunity

Written by Rosemary Beach Mortgage Mortgage Syndicated User on August 15, 2024. Posted in Affordability, Economy, Mortgage Rosemary Beach, Rosemary Beach Mortgage.

In recent years, there’s been a significant shift in how wealth is distributed among generations. It’s called the Great Wealth Transfer.Historically, the transfer of wealth from one generation to the next was a more gradual process, often limited to smaller amounts of inheritance or family savings. But today, the scale has increased in a big way. As a recent article from Bankrate says:“The biggest wave of wealth in history is about to pass from Baby Boomers over the next 20 years, and it’s going to have major impacts on many facets of life. Called The Great Wealth Transfer, $84 trillion is poised...

Is Affordability Starting To Improve?

Written by Rosemary Beach Mortgage Mortgage Syndicated User on August 14, 2024. Posted in Affordability, Economy, For Buyers, Home Prices, Mortgage Rates, Mortgage Rosemary Beach, Rosemary Beach Mortgage.

Over the past couple of years, a lot of people have had a hard time buying a home. And while affordability is still tight, there are signs it’s getting a little better and might keep improving throughout the rest of the year. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:“Housing affordability is improving ever so modestly, but it is moving in the right direction.”Here’s a look at the latest data on the three biggest factors affecting home affordability: mortgage rates, home prices, and wages. 1. Mortgage RatesMortgage rates have been volatile this year,...

Where Will You Go After You Sell?

Written by Rosemary Beach Mortgage Mortgage Syndicated User on August 9, 2024. Posted in Affordability, For Buyers, For Sellers, Mortgage Rosemary Beach, New Construction, Rosemary Beach Mortgage.

If you’re planning to sell your house and move, you probably know there’s been a shortage of options available. But here’s the good news: the supply of homes for sale has grown in a lot of markets this year – and that’s not just existing, or previously-owned, homes. It’s true for newly built homes too. So how do you decide which route to go? Do you buy an existing home or a brand-new one? The choice is yours – you just need to figure out what’s most important to you.Perks of a Newly Built HomeHere are some benefits of buying a newly built home right now:Have brand new everything with never-been-used...

Mortgage Rates Down a Full Percent from Recent High

Written by Rosemary Beach Mortgage Mortgage Syndicated User on August 8, 2024. Posted in Affordability, Economy, For Buyers, Mortgage Rates, Mortgage Rosemary Beach, Rosemary Beach Mortgage.

Mortgage rates have been one of the hottest topics in the housing market lately because of their impact on affordability. And if you’re someone who’s looking to make a move, you’ve probably been waiting eagerly for rates to come down for that very reason. Well, if the past few weeks are any indication, you may be getting your wish.Mortgage Rates Trend Down in Recent WeeksThere’s big news for mortgage rates. After the latest reports on the economy, inflation, the unemployment rate, and the Federal Reserve’s recent comments, mortgage rates started dropping a bit. And according to Freddie Mac,...

How Affordability and Remote Work Are Changing Where People Live

Written by Rosemary Beach Mortgage Mortgage Syndicated User on July 23, 2024. Posted in Affordability, Buying Tips, For Buyers, Mortgage Rosemary Beach, Rosemary Beach Mortgage.

There’s an interesting trend happening in the housing market. People are increasingly moving to more affordable areas, and remote or hybrid work is helping them do it.Consider Moving to a More Affordable AreaToday’s high mortgage rates combined with continually rising home prices mean it’s tough for a lot of people to afford a home right now. That’s why many interested buyers are moving to places where homes are less expensive, and the cost of living is lower. As Orphe Divounguy, Senior Economist at Zillow, explains:“Housing affordability has always mattered . . . and you’re seeing it across...

More Than a House: The Emotional Benefits of Homeownership

Written by Rosemary Beach Mortgage Mortgage Syndicated User on June 4, 2024. Posted in Affordability, For Buyers, Mortgage Rosemary Beach, Rosemary Beach Mortgage.

With all the headlines and talk about housing affordability, it can be tempting to get lost in the financial side of buying a home. That’s only natural as you think about the dollars and cents of it all.And while you ultimately need to be able to afford a home you buy, don’t lose sight of why homeownership was so important to you in the first place. That’s because buying a home is so much more than just a financial transaction. As the National Association of Realtors (NAR) says:“The benefits of purchasing and owning your place of residence are both financial and emotional – pride in homeownership...

Equity Can Make Your Move Possible When Affordability Is Tight [INFOGRAPHIC]

Written by Rosemary Beach Mortgage Mortgage Syndicated User on April 27, 2024. Posted in Affordability, Equity, Infographics, Mortgage Rosemary Beach, Move-Up, Rosemary Beach Mortgage.

Some HighlightsDid you know the equity you have in your current house can help make your move possible?Once you sell, you can use it for a larger down payment on your next home, so you’re borrowing less. Or, you may even have enough to be an all-cash buyer. The typical homeowner has $298,000 in equity. If you want to find out how much you have, connect with a local real estate agent for a Professional Equity Assessment Report.

Is It Getting More Affordable To Buy a Home?

Written by Rosemary Beach Mortgage Mortgage Syndicated User on April 19, 2024. Posted in Affordability, For Buyers, Mortgage Rosemary Beach, Rosemary Beach Mortgage.

Over the past year or so, a lot of people have been talking about how tough it is to buy a home. And while there’s no arguing affordability is still tight, there are signs it’s starting to get a bit better and may improve even more throughout the year. Elijah de la Campa, Senior Economist at Redfin, says:“We’re slowly climbing our way out of an affordability hole, but we have a long way to go. Rates have come down from their peak and are expected to fall again by the end of the year, which should make homebuying a little more affordable and incentivize buyers to come off the sidelines.”Here’s...

Category: Affordability