Category: News

Homebuyers Will Look for Less Expensive Homes if Mortgage Rates Reach 5 Percent, Redfin Agents Report

Regan Hagestad January 10, 2017

Home prices were up almost 8 percent in November compared with the previous year, inventory has declined and mortgage rates have started to rise. Despite rising rates and falling inventory, however, Redfin agents report homebuyers still are optimistic. In a recent survey of more than 800 Redfin real estate agents across the country, respondents were asked to describe the general

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Rising Mortgage Rates: Homebuyers Are More Resilient Than You Might Think

Regan Hagestad January 3, 2017

The average 30-year fixed-rate mortgage is hovering around 4.16 percent, while the Federal Reserve has raised the federal funds rate for the first time in a year, and only the second time this decade. How does this affect homebuyers? Redfin predicts that rates won’t average above 4.3 percent in 2017. But what if rates were to continue to rise? Very

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WalletHub’s 10 Predictions for 2017

Regan Hagestad December 27, 2016

As 2016 draws to a close, WalletHub has made its economic predictions for 2017. Based on the current economic recovery and the inauguration of a new president, here are 10 important developments expected in the new year. U.S. GDP growth will remain at 2.1 percent The U.S. economy is expected to end 2016 having grown by about 1.75 percent, and

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Mortgage Rates Move Higher

Regan Hagestad December 19, 2016

Freddie Mac’s most recent Primary Mortgage Market Survey shows average fixed mortgage rates moving higher for the seventh consecutive week. “As was almost-universally expected, the Federal Open Market Committee (FOMC) closed the year with its one and only rate hike of 2016,” says Sean Becketti, Freddie Mac’s chief economist. “The consensus of the committee points to more rate hikes in

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How to Secure the Best Possible Mortgage Despite Rising Interest Rates

Regan Hagestad December 13, 2016

The election of Donald Trump has had a major influence on interest rates, with rates on 30-year conforming mortgage increasing by more than 50 basis points to levels the public hasn’t seen in more than two years. In real terms, the movement in rates so far has increased mortgage payments by 7 percent. On a median-price home, that shift amounts to more than

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Quick Ways to Boost Your Credit Score

Regan Hagestad December 5, 2016

Thinking about buying a house, but your credit score doesn’t quite meet the required standard? You’re not alone. Half of the nation’s consumers have the desired 700-plus credit score, while the average is 695. And while you can obtain a mortgage with scores in that range, you’ll need a 740 or above to get the optimal rates. If you’re wondering

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Four Factors That Will Help You Get a Mortgage

Regan Hagestad November 21, 2016

Mortgage lenders look at four factors when deciding whether to grant financing, and having an understanding of each will help make the process much easier. Steady income Having a stable income is key. Lenders crave a consistent income that is poised to continue into the future, while any gaps in employment during the past two years must be explained and

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Can I Buy With Cash And Then Get A Mortgage?

Regan Hagestad November 14, 2016

There’s a new buying strategy brewing: Cash first, mortgage later. Here’s how it works: Rather than having to finance a purchase, buyers liquidate their assets (including taking money out of their retirement savings, investment accounts and assets such as other property); amass enough cash to purchase a home outright; and then make an all-cash offer. This can help make your

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Mortgage Rates See an Increase

Regan Hagestad November 9, 2016

Freddie Mac’s most recent Primary Mortgage Market Survey shows that a jump this past week in the personal consumption expenditure (PCE) — the price index tracked most closely by the Fed — raised the prospect that inflation might not have gone by the wayside after all. Investors reacted by driving the yield on the 10-year Treasury to its highest point

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Four Ways Mortgage Lenders Can Help You Buy a Home

Regan Hagestad October 31, 2016

Lenders make homeownership possible for many people who don’t have the available cash to purchase a home. They also help buyers with bad credit or no down payment to obtain loans. Here, Realtor.com offers four ways lenders can assist you on the path to homeownership, along with some recommendations on how to make the most of this relationship. Lenders can provide pre-approval If

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