This chart will show you how your monthly payment could be impacted as the interest rates increase. No matter what, the best strategy is to work with your real estate advisor and a trusted lender to create a plan that takes rising mortgage rates into consideration. Together, you can look at your ...
Continue ReadingHow Today’s Mortgage Rates Impact Your Home Purchase If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment ...
Continue ReadingHow To Approach Rising Mortgage Rates as a Buyer In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you ...
Continue ReadingWhy This Housing Market Is Not a Bubble Ready To Pop Homeownership has become a major element in achieving the American Dream. A recent report from the National Association of Realtors (NAR) finds that over 86% of buyers agree homeownership is still the American Dream. Prior to the 1950s, less than half of the country owned ...
Continue ReadingWhat You Need To Know if You’re Thinking About Building a Home If you’re ready to move up, you may be trying to decide whether you want to buy a home that’s already on the market or build a new one. And since the supply of homes available for sale today is low, ...
Continue ReadingWhat’s Happening with Mortgage Rates, and Where Will They Go from Here? Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a ...
Continue ReadingWhat You Need To Budget for When Buying a Home When it comes to buying a home, it can feel a bit intimidating to know how much you need to save and where to find that information. But you should know, you’re not expected to have all the answers yourself. There ...
Continue ReadingAs you are planning your move, there are a few things that you need to consider when your pets are concerned. If you are moving locally, it might be a good idea to board your pet during the actual moving day. This will minimize stress on them and on you. ...
Continue ReadingOver the last two years we have seen the demand for homes continue to increase. According the the Virginia REALTORS® Association, our inventory in Virginia has ranged from 25%-45% less inventory than previous years. But what is causing this demand? There are several reasons: Babyboom According to the latest census, ...
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