by Linda Richardson | May 10, 2022 | First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Pricing
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...
by Linda Richardson | Apr 26, 2022 | Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Pricing
If you’re following along with the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can put a pinch on your wallet and make...
by Linda Richardson | Apr 20, 2022 | Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers
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 may be tempted to put your...
by Linda Richardson | Apr 13, 2022 | For Buyers, Housing Market Updates, Interest Rates
There’s never been a truer statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American: “You know, the fallacy of economic forecasting is: Don’t ever try and forecast interest rates and or, more...
by Linda Richardson | Mar 30, 2022 | For Buyers, Housing Market Updates, Interest Rates, Pricing
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 week ago. Here’s a visual to show how...
by Linda Richardson | Mar 24, 2022 | For Buyers, For Sellers, Housing Market Updates, Interest Rates, Pricing
As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate...
