Real Estate Blog

Should I Wait until next Year to Buy? Or Buy Now? [INFOGRAPHIC] | Simplifying The Market

 

Some Highlights:

  • The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
  • Freddie Mac predicts interest rates to rise to 5.1% by 2019.
  • CoreLogic predicts home prices to appreciate by 4.3% over the next 12 months.
  • If you are ready and willing to buy your dream home, find out if you are able to!
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Calm Down! The Real Estate Market is NOT Falling Apart | Simplifying The Market

There has been tremendous volatility in certain markets over the last few weeks (for example, the stock and currency markets). When this happens, some tend to lump all of their investments together and create an almost ‘Armageddon’ scenario where everything loses value quickly and dramatically. Real estate is an investment that can get caught up in this hysteria. Does the concern about the current housing market have merit?

Financial advisors have been warning us for months that the stock market was ripe for a “correction.”

Experts have been questioning the value of alternative currencies for over a year.

In contrast, here are the opinions of three major players in the residential housing market:

Ralph DeFranco, Chief Economist, Arch

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Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing the 30-year fixed mortgage rate reaching its highest level since April 2014.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.38 percent with an average 0.6 point for the week ending February 15, 2018, up from last week when it averaged 4.32 percent. A year ago at this time, the 30-year FRM averaged 4.15 percent. 
  • 15-year FRM this week averaged 3.84 percent with an average 0.5 point, up from last week when it averaged 3.77 percent. A year ago at this time, the 15-year FRM averaged 3.35 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.63 percent this week with an average 0.4 point, up from last week when it
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 5 Reasons to Love Using A RE Pro [INFOGRAPHIC] | Simplifying The Market

Highlights:

  • Hiring a real estate professional to guide you through the process of buying a home or selling your house can be one of the best decisions you make!
  • They are there for you to help with paperwork, understanding the process, negotiations, and helping you with pricing (both when making an offer or setting the right price for your home).
  • One of the top reasons to hire a real estate professional is their understanding of your local market and how the conditions in your neighborhood will impact your experience.



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  • Buying A Home Is More Affordable Than Renting In 54% Of US CountiesBuying A Home Is More
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Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing the 30-year fixed mortgage rate hitting its highest mark since December 2016.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.32 percent with an average 0.6 point for the week ending February 8, 2018, up from last week when it averaged 4.22 percent. A year ago at this time, the 30-year FRM averaged 4.17 percent. 
  • 15-year FRM this week averaged 3.77 percent with an average 0.5 point, up from last week when it averaged 3.68 percent. A year ago at this time, the 15-year FRM averaged 3.39 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.57 percent this week with an average 0.4 point, up from last week when it
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Where Are Mortgage Interest Rates Headed in 2018? | Simplifying The Market

Wednesday February 7th, 2018  First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers

 

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.

Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next 12 months.

Where Are Interest Rates Headed? | Simplifying The Market

How Will This Impact Your Mortgage Payment?

Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment

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Rates Continue to Rise 

Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing average mortgage rates continuing their upward trend in 2018.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.22 percent with an average 0.5 point for the week ending February 1, 2018, up from last week when it averaged 4.15 percent. A year ago at this time, the 30-year FRM averaged 4.19 percent. 
  • 15-year FRM this week averaged 3.68 percent with an average 0.5 point, up from last week when it averaged 3.62 percent. A year ago at this time, the 15-year FRM averaged 3.41 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.53 percent this week with an average 0.4 point, up from last week when
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Millionaire to Millennials: Don’t Rent a Home… Buy! | Simplifying The Market

 Tuesday February 6th, 2018  First Time Home Buyers, For Buyers, Millennials, Move-Up Buyers

 

In a CNBC article, self-made millionaire David Bach explained that: “The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.”

Bach went on to explain:

“Homeowners are worth 40 times more than renters. Now, that first home doesn’t need to be a dream home, it can be a very small home. You might literally have to buy a small studio apartment, but that’s how you get started.” 

Then he explains the secret in order to buy that home!

“Don’t do a 30-year mortgage. You want to take that

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If You’re Considering Selling, ACT NOW!! | Simplifying The Market  Thursday January 25th, 2018  For Sellers, Housing Market Updates, Move-Up Buyers  

Definitely an aggressive headline. However, as the final data on the 2017 housing market rolls in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!

How did we finish 2017?

  1. New-home sales were at their highest level in a decade.
  2. Sales of previously owned homes were at their highest level in more than a decade.
  3. Starts of single-family homes were their strongest in a decade and applications to build such properties advanced to the fastest pace since August 2007.

And Bloomberg Business just reported:

“America’s housing market is gearing up for a robust year ahead. Builders are more

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 Jan 18, 2018 - Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates rising for the second consecutive week. 

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.04 percent with an average 0.6 point for the week ending January 18, 2018, up from last week when it averaged 3.99 percent. A year ago at this time, the 30-year FRM averaged 4.09 percent. 
  • 15-year FRM this week averaged 3.49 percent with an average 0.5 point, up from last week when it averaged 3.44 percent. A year ago at this time, the 15-year FRM averaged 3.34 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.46 percent this week with an average 0.3 point, unchanged from last
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