Some Highlights Knowing key housing terms and how they relate to today’s market is important. For example, when mortgage rates and home prices rise, it impacts how much home you can afford. Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly impact the transaction. Buying a home can be […]
How Global Uncertainty Is Impacting Mortgage Rates
The recent decline in mortgage rates is primarily due to growing uncertainty around geopolitical tensions surrounding Russia and Ukraine. But experts say it’s to be expected. Here’s a look at how industry leaders are explaining the impact global uncertainty has on mortgage rates: Odeta Kushi, Deputy Chief Economist at First American, says: “While mortgage rates trended upward […]
What’s Driving Today’s High Buyer Demand? [INFOGRAPHIC]
Some Highlights There’s an influx of buyers looking for homes today, and that means your house is in high demand. Here are a few reasons why so many people are looking to buy a home. Buyers are motivated to beat rising mortgage rates, and many want to escape rising rents. There’s also additional demand from millennials who are reaching peak homebuying […]
How Smart Buyers Are Approaching Rising Mortgage Rates
With mortgage rates on the rise, you’ve likely seen your purchasing power impacted already. Instead of waiting and hoping rates will fall, today’s rates should motivate you to purchase now before rates increase more. Smart Buyers Can Succeed by Planning Ahead You can use your newfound motivation to energize your search and plan your next […]