There’s No Reason To Panic Over Today’s Lending Standards
Today, some are afraid the real estate market is starting to look a lot like it did in 2006, just prior to the housing crash. One of the factors theyre pointing to is the availability of mortgage money. Recent articles…
Is Homeownership Still Considered Part of the American Dream?
Since the birth of our nation, homeownership has always been considered a major piece of the American Dream. As Frederick PetersreportsinForbes:The idea of a place of ones own drives the American story. We became a nation out of a desire…
How a Change in Mortgage Rate Impacts Your Homebuying Budget
Mortgage rates are on therisethis year, but theyre still incredibly low compared to the historicaverage. However, anytime theres a change in the mortgage rate, it affects what you can afford to borrow when youre buying a home. As Sam Khater,Chief…
What It Means To Be in a Sellers’ Market
If youve given even a casual thought tosellingyour house in the near future, this is the time to really think seriously about making a move. Heres why this season is the ultimatesellers marketand the optimal time to make sure your…
Buyer & Seller Perks in Today’s Housing Market
Right now, the housing market is full of outstanding opportunities for both buyersandsellers. Whether youre thinking of buying your first home, moving up to a bigger one, or selling so you can downsize this spring, there are perks today that…
Why You Should Think About Listing Prices Like an Auction’s Reserve Price
For generations, the homebuying process never really changed. The seller would try to estimate the market value of the home and tack on a little extra to give themselves some negotiating room. That figure would become the listing price of…
Should We Fear the Surge in Cash-Out Refinances?
Freddie Macrecently released theirQuarterly Refinance Statisticsreport which covers refinances through 2020. The report explains that the dollar amount of cash-out refinances was greater in 2020 than in recent years. Acash-out refinance, asdefinedbyInvestopia, is:a mortgage refinancing option in which an old…
What Credit Score Do You Need for a Mortgage?
According todata from the most recentOrigination Insight ReportbyEllie Mae, the average FICOscore on closed loans reached 753 in February. As lending standards havetightenedrecently, many are concerned over whether or not their credit score is strong enough to qualify for a…
To Renovate or Not To Renovate Before You Sell
When thinking about selling, homeowners often feel they need to get their house ready with some remodeling to make it more appealing to buyers. However, with so manybuyerscompeting for available homes right now, renovations may not be as vital as…
What Is the Strongest Tailwind to Today’s Recovering Economy?
Last year started off with a bang. Unemployment was under4%, forecasters were giddy with their projections for the economy, and the residential housing market had the strongest January and February activity in over a decade.Then came the announcement on March…