Some Highlights: The interest rate you secure for your mortgage greatly influences your monthly housing costs. In the 1980s, 30-year fixed mortgage rates averaged in the high 12s making the monthly principal and interest payment over $2,000. Interest rates are still at historic lows; this is a great time lock in your housing cost and
CoreLogic’s latest Equity Report revealed that 91.1% of all mortgaged properties are now in a positive equity situation, while 75.9% now have significant equity (defined as more than 20%)! The report also revealed that 548,000 households regained equity in the second quarter of 2016 and are no longer under water. Price Appreciation = Good News for Homeowners
School is back in session, the holidays are right around the corner, you might not think that now is the best time to sell your house. But with inventory below historic numbers and demand still strong, you could be missing out on a great opportunity for your family. Here are five reasons why you should consider
There are some experts questioning whether the current pace of residential home sales is sustainable. Are too many people buying homes like in 2004-2006? Are we headed for another housing crisis? Actually, if we look closely at the numbers, we can see that we are looking at a very healthy real estate market. Why the
There is some thinking that the pace of the housing recovery is unsustainable and that we may be heading for another housing bubble. However, Jonathan Smoke, the Chief Economist of realtor.com explains the basic difference between 2005 and today: “The havoc during the last cycle was the result of building too many homes and of
This housing market has many people talking about home values; where they are and where they are headed. It’s also interesting to look back and see how home prices compare to values prior to the housing crisis. Every quarter, Freddie Mac releases their House Price Index. The index usually provides monthly home values for: the
According to the latest Census Bureau Report, sales of newly constructed homes soared to new heights in June to a seasonally adjusted rate of 592,000. This marks the highest annual rate in 8 years. Trulia’s Chief Economist, Ralph McLaughlin had this to say: “New home sales jumped sharply in June, and marked the best month
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: What is the minimum down payment required to purchase a home? What is the minimum FICO score required to qualify for a mortgage?
Some Highlights: Sales of existing homes reached the highest annual pace in over 9 years at 5.29 million. Inventory remains below the 6-month norm and prices are still on the rise. Interest rates are at a historic low of 3.48%.
That headline might be a little aggressive. However, as the data on the 2016 housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME! The May numbers are not in yet, but the April numbers were sensational. Jonathon Smoke, Chief Economist