Brexit 1 Month Later: The Impact on Mortgage Rates
Just over a month ago, the United Kingdom decided to withdraw from the European Union in a decision commonly known as Brexit. At that time there was a lot of speculation on how that decision would impact the U.S. residential mortgage market. Today, we want to look at the impact of the first 30 days.
Slaying Myths About Home Buying [INFOGRAPHIC]
Some Highlights:Interest Rates are still below historic numbers.88% of property managers raised their rent in the last 12 months!Credit score requirements to be approved for a mortgage continue to fall.
Baby Boomers Are On the Move
According to a Merrill Lynch study, “an estimated 4.2 million retirees moved into a new home last year alone.” Two-thirds of retirees say that they are likely to move at least once during retirement.
Rents Skyrocket at Highest Rate in almost a Decade
The Consumer Price Index (CPI) was released by the Labor Department last week. An analysis by Market Watch revealed the cost of rent was 3.8% higher than a year ago for the second straight month in June. That’s the strongest yearly price gain since 2007.
A Homeowner’s Net Worth is 45x Greater Than a Renter’s!
Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).
3 Questions Every Buyer Should Ask Themselves
If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.
Should I Wait Until Next Year? Or Buy Now? [INFOGRAPHIC]
Some Highlights:The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.Freddie Mac predicts interest rates to rise to 4.6% by next year.CoreLogic p…
3 Crucial Questions Most Home Buyers Don’t Know the Answer To…DO YOU?
Whether you are considering the purchase of your first home or trading up to the home your family frequently fantasizes about, there are three crucial questions you must know the answer to:
Would You Qualify for a Mortgage Now?
The widespread myth that perfect credit and large down payments are necessary to buy a home are holding many potential home buyers on the sidelines. According to Ellie Mae’s latest Origination Report, the average FICO score for all closed loans in May was 724, far lower than the 750 or 800 that many buyers believe to be true.
Homeownership Builds Wealth & Offers Stability
The most recent Housing Pulse Survey released by the National Association of Realtors revealed that the two major reasons Americans prefer owning their own home instead of renting are:
Saving to Buy a Home? Do You Know the Difference Between Cost & Price?
As a seller, you will be most concerned with the ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not with price but instead with the ‘long term cost’ of the home.
Saving To Buy A Home? What Would You Sacrifice? [INFOGRAPHIC]
Some Highlights:95% of first-time homebuyers are willing to sacrifice to make homeownership a reality.The top thing that buyers sacrifice are new clothes at 54%.Even repeat or experienced buyers say they sacrificed taking a vacation or buying a new car…