Two Graphs That Show Why You Shouldn’t Be Upset About 3% Mortgage Rates

Written by Siesta Key Mortgage Syndicated User on November 8, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

With the average 30-year fixed mortgage rate from Freddie Mac climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts project rates will rise further in the coming months, that conversation isn’t going away any time soon. But as a homebuyer, what do rates above 3% really mean? Today’s Average Mortgage Rate Still Presents Buyers with a Great Opportunity Buyers don’t want mortgage rates to rise, as any upward movement increases your monthly mortgage payment. But it’s important to put today’s average mortgage rate into perspective....

Experts Project Mortgage Rates Will Continue To Rise in 2022

Written by Siesta Key Mortgage Syndicated User on November 3, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Siesta Key, Move-Up Buyers, Pricing, Siesta Key Mortgage.

Mortgage rates are one of several factors that impact how much you can afford if you’re buying a home. When rates are low, they help you get more house for your money. Within the last year, mortgage rates have hit the lowest point ever recorded, and they’ve hovered in the historic-low territory. But even over the past few weeks, rates have started to rise. This past week, the average 30-year fixed rate was 3.14%. What does this mean if you’re thinking about making a move? Waiting until next year will cost you more in the long run. Here’s a look at what several experts project for mortgage rates...

Renters Missed Out on $51,500 This Past Year

Written by Siesta Key Mortgage Syndicated User on November 1, 2021. Posted in First Time Home Buyers, For Buyers, Mortgage Siesta Key, Pricing, Rent vs. Buy, Siesta Key Mortgage.

Rents have increased significantly this year. The latest National Rent Report from Apartmentlist.com shows rents are rising at a rate much higher than the three years leading up to the pandemic: “Since January of this year, the national median rent has increased by a staggering 16.4 percent. To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.” Looking back, we can see rents rising isn’t new. The median rental price has increased consistently over the past 33 years (see graph below):If you’re thinking of renting...

The Mortgage Process Doesn’t Have To Be Scary [INFOGRAPHIC]

Written by Siesta Key Mortgage Syndicated User on October 29, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Some Highlights Applying for a mortgage is a big step towards homeownership, but it doesn’t need to be one you fear. Here are some tips to help you prepare. Know your credit score and work to build strong credit. When you’re ready, lean on your agent to connect you with a lender so you can get pre-approved and begin your home search. Any major life change can be scary, and buying a home is no different. Let’s connect so you have an advisor by your side to take the fear out of the equation. Content previously posted on Keeping Current Matters

There Are More Homes Available Now than There Were This Spring

Written by Siesta Key Mortgage Syndicated User on October 26, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

There’s a lot of talk lately about how challenging it can be to find a home to buy. While housing inventory is still low, there are a few important things to understand about the supply of homes for sale as we move into the end of the year. The Number of Homes for Sale Usually Peaks in the Fall In the residential real estate market, trends generally follow a predictable and seasonal pattern. Typically, the number of homes available for sale (or active monthly listings) peaks in the fall. But in a chapter where so little feels normal, the question becomes: should we expect a fall peak this year? If...

Knowledge Is Power When It Comes to Appraisals and Inspections

Written by Siesta Key Mortgage Syndicated User on October 25, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market. But is that the best move? Buying a home is one of the most important transactions in your lifetime, and it’s critical to keep your best interests in mind. Here’s a breakdown of what to expect from the appraisal and the inspection, and why each one can potentially save you a lot of time, money,...

Important Distinction: Homes Are Less Affordable, Not Unaffordable

Written by Siesta Key Mortgage Syndicated User on October 21, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Siesta Key, Siesta Key Mortgage.

It’s impossible to research the subject of buying a home without coming across a headline declaring that the fall in home affordability is a crisis. However, when we add context to the most recent affordability statistics, we soon realize that, though homes are less affordable than they have been over the last few years, they are more affordable than they historically have been. Black Knight, a premier provider of data and analytics for the mortgage industry, just released their latest Monthly Mortgage Monitor which includes a new analysis of the affordability situation. Here’s what the report...

Looking To Move? It Could Be Time To Build Your Dream Home.

Written by Siesta Key Mortgage Syndicated User on October 20, 2021. Posted in For Buyers, For Sellers, Mortgage Siesta Key, Move-Up Buyers, New Construction, Siesta Key Mortgage.

While today’s supply of homes for sale is still low, the number of newly built homes is increasing. If you’re ready to sell but have held off because you weren’t sure you’d be able to find a home to move into, newly built homes and those under construction can provide the options you’ve been waiting for. The latest Census data shows the inventory of new homes is increasing this year (see graph below):With more new homes coming to the market, this means you’ll have more options to choose from if you’re ready to buy. Of course, if you do consider a newly built home, you’ll want to keep timing...

What Does the Future Hold for Home Prices?

Written by Siesta Key Mortgage Syndicated User on October 19, 2021. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Mortgage Siesta Key, Pricing, Selling Myths, Siesta Key Mortgage.

If you’re looking to buy or sell a house, chances are you’ve heard talk about today’s rising home prices. And while this increase in home values is great news for sellers, you may be wondering what the future holds. Will prices continue to rise with time, or should you expect them to fall? To answer that question, let’s first understand a few terms you may be hearing right now. Appreciation is an increase in the value of an asset. Depreciation is a decrease in the value of an asset. Deceleration is when something happens at a slower pace. It’s important to note home prices have increased,...

Homebuyer Tips for Finding the One [INFOGRAPHIC]

Written by Siesta Key Mortgage Syndicated User on October 15, 2021. Posted in First Time Home Buyers, For Buyers, Infographics, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Some Highlights The best advice carries across multiple areas of life. When it comes to homebuying, a few simple tips can help you stay on track. Because of increased demand, you’ll need to be patient and embrace compromises during your search. Then, once you’ve fallen in love, commit by putting your best offer forward. If you’re looking to buy a home this year, let’s connect so you have a dedicated partner and teammate to help you find the one. Content previously posted on Keeping Current Matters

Category: For Buyers