Getting Comfortable with the New Normal Mortgage Rates
The biggest shock to homebuyers is the soaring mortgage rates of 2022 that doubled in one year resulting in approximately 15 million mortgage ready buyers displaced from the market due to affordability issues. As of February 23, 2023, the 30-year fixed rate mortgage was at 6.5%. While that is twice as high as it was…
Read MoreWhat You Should Know About Rising Mortgage Rates
After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to purchase a home this year, you too may be wondering if now’s the right time to buy or if you should hold off on your search until rates come back down.
One Major Benefit of Investing in a Home
One of the many reasons to buy a home is that it’s a major way to build wealth and gain financial stability. According to Freddie Mac:
Checklist for Selling Your House This Spring [INFOGRAPHIC]
![Checklist for Selling Your House This Spring [INFOGRAPHIC] Simplifying The Market](https://files.simplifyingthemarket.com/wp-content/uploads/2023/02/22133518/Checklist-For-Selling-This-Spring-KCM-Share.png)
Some Highlights
- As you get ready to sell your house, there are specific things you can add to your to-do list.
- These include decluttering, taking down personal photos and items, and power washing outdoor surfaces.
How To Make Your Dream of Homeownership a Reality
According to a recent Harris Poll survey, A Smaller Home Could Be Your Best Option
Many people are reaching the point in their lives when they need to decide where they want to live when they retire. If you’re a homeowner approaching this stage, you have several options to explore. Jessica Lautz, Deputy Chief Economist and Vice President of Research at the National Association of Realtors (NAR), says:
When do you lock your mortgage rate?
Locking your interest rate protects you from increases due to market conditions. Locking early safeguards your budgeted payment. By locking the rate, if the market goes up, you get the lower rate; if it goes down after the lock, you may be able to pay a fee and lower the rate. Knowing when to take…
Read MoreThe Two Big Issues the Housing Market’s Facing Right Now
The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, Spring into Action: Boost Your Home’s Curb Appeal with Expert Guidance
To sell your home this spring, it may need more preparation than it would have a year or two ago. Today’s housing market has a different feel. There are more homes for sale than there were at this time last year, but inventory is still historically low. So, if a house has been sitting on the market for a while, that’s a sign it may not be hitting the mark for potential buyers. But here’s the thing. Right now, homes that are updated and priced at market value are still selling fast.
The Spring Housing Market Could Be a Sweet Spot for Sellers [INFOGRAPHIC]
![The Spring Housing Market Could Be a Sweet Spot for Sellers [INFOGRAPHIC] Simplifying The Market](https://files.simplifyingthemarket.com/wp-content/uploads/2023/02/16105228/The-Spring-Housing-Market-Could-Be-A-Sweet-Spot-For-Sellers-KCM-Share.png)
Some Highlights
- The biggest challenge in the housing market is how few houses there are for sale compared to the number of people who want to buy.
- The number of homes for sale is up from last year but below pre-pandemic numbers, and that means we’re still in a sellers’ market.
Wondering What’s Going on with Home Prices?
The recent changes in home prices are top of mind for many as the housing market begins gearing up for spring. It can be hard to navigate misleading headlines and confusing data, so here’s what you should know about today’s home prices.
If you’re thinking about buying a home, you might be focusing on previously owned ones. But with so few houses for sale