Last week, the Federal Reserve raised its target federal funds interest rate by a quarter percentage point (.25) from near zero. This was the first increase in the benchmark rate in three years. And all indications are that it’s just the beginning. Continue reading
But it might signal the green light for your clients who were waiting to buy until demand decreased, prices became a little more reasonable, or their credit score improved. Bidding wars and the frustration and roller coaster of emotions that come with them aren’t for every house hunter. Continue reading
Whenever our team works with a client, maybe one of the most frequently asked questions is, “How much will this house cost me every month?” It’s an understandable and necessary question. Continue reading
As of Sept. 18, Fannie Mae is adding a new feature in its automated underwriting system that considers mortgage loan applicants’ rent payment history – with their permission – during the credit review process. That means that paying rent on time will officially count for something as your buyers look to transition from renter to homeowner. Continue reading
But even though your sellers may not need this trick up their sleeve right now, it never hurts to educate them in case it’s a move they need to make in the future. An excellent place to start is identifying what seller’s concessions are and when or if necessary. Continue reading
But what is their “price range,” really? Do they know what that corner dream house with the covered patio and finished basement will cost them each month? Continue reading
The recent news about one major financial institution closing all existing personal lines of credit and no longer offering them to customers may sound like a scary proposition.
Let’s discuss why. Continue reading
According to Freddie Mac and the National Association of Homebuilders, mortgage rates are expected to hover around 3 percent this year. The National Association of Realtors projects the rate will reach 3.2 percent in 2021, and Wells Fargo believes rates will be around 2.89 percent. All these numbers are attractive for both new home buyers and those looking to refinance.
There are benefits and pitfalls to both that a knowledgeable and professional agent can communicate to put you in the best position possible.
Despite it being a seller’s market where home prices in many regions are skyrocketing, you could still manage to land the home of their dreams without breaking the bank.
However, if you aren’t up for getting into possible bidding wars, are still content in your current home, or need to squeeze some money out of your monthly budgets, refinancing can provide some benefits.
To help you clients determine whether they should buy now or refinance instead, here are some essential considerations to share.