Tag: Mortgage

Posted on 12/27/2023
Home refinance costs to consider
Refinancing your home can have major benefits: a lower...
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Posted on 10/04/2023
Mortgages: Which 15-year loan is right for you?
Mortgages can be a very flustering part of the homebuying...
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Posted on 01/24/2023
Financial New Year's Resolutions Both You and Your Bank Account Will Love
As we enter the new year, many of us make resolutions to improve our lives and reach our goals. But why not do the same for our finances while we’re at it?If you’re looking for some financial resolutions you can stick to, we’ve got you covered. Let’s start the year off right with a few decisions that both...
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Posted on 01/18/2023
Understanding Home Prices: Key Factors to Consider
Housing prices are constantly changing, which can make both buying and selling a home more complicated. While it’s difficult to predict future changes, it’s important to understand the key factors that affect the housing market and home prices. Here are the five major things that affect housing prices: Economic Change The overall health of the economy is a...
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Posted on 06/17/2022
Surging Mortgage Rates Spook House Hunters
© Dan Brownsword - Image Source/Getty Images Borrowing costs have climbed to their highest level since 2008, sending shock waves through the housing market. Mortgage rates have climbed to their highest level since 2008, pinching home buyers’ budgets. The 30-year fixed-rate mortgage averaged 5.78% this week, way above its 2.93% average just one year ago, Freddie Mac reports....
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Posted on 05/31/2022
More Sellers Dropping Asking Prices
© fstop123 - iStock / Getty Images Plus May 31, 2022 Some homeowners may need to reset their price expectations. Signs of a slowing real estate market are growing across the country—existing-home sales and new-home sales are falling as well as pending home sales. Pending home sales fell for the sixth consecutive month in April and are now...
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Posted on 05/17/2022
New-Home Buyers Face Rising Rate Surprises
© Andrii Yalanskyi - iStock / Getty Images Plus New-home buyers who signed a contract to purchase their home a year ago, when mortgage rates were 3% or in some cases less, are finding themselves caught off-guard as their homes near completion, as mortgage rates have climbed to 5.3% this spring. They may face increases of hundreds of...
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Posted on 04/29/2022
How Will Rising Gas Prices Impact the Housing Market?
As gas prices are steadily rising across the country, many U.S. residents are wondering when this increase will begin to slow down and whether or not sky-high gas prices could affect the housing market. Over the past several years, housing prices as well as the costs of many common goods and services have slowly risen due to the...
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Posted on 03/29/2022
Some Owners Turn to Cash-Out Refinances
© whyframestudio - iStock / Getty Images Plus Some homeowners are turning to the equity in their current home to fund their next real estate transaction. But the move isn’t without risks. Most homeowners who bought a home before 2020 have seen rapid appreciation and rising equity in their homes. A cash-out refinance is allowing them to use...
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Posted on 03/25/2022
Real Estate Update
In a grim sign for the housing market’s busiest season, pending home sales, which measure signed contracts on existing homes, fell 4.1% in February compared with January, according to the National Association of Realtors. Sales were down 5.4% compared with February 2021. Analysts were expecting a slight gain. This is the fourth straight month of declines in pending...
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Posted on 03/18/2022
Home Sales Fell Far More Than Expected In February, As Mortgage Rates Rose And Supply Remained Tight
Sales of previously owned homes fell 7.2% month to month in February to a seasonally adjusted annualized rate of 6.02 million units, according to the National Association of Realtors. That significantly missed analysts’ expectations of 6.13 million units. Sales were 2.4% lower compared with the same month a year ago. Rising mortgage rates likely played a role in the...
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Posted on 03/15/2022
Mortgage Delinquencies Drop to Record Low
©phototechno - Getty Images The percentage of homes with mortgages that have late payments or are in foreclosure has dropped to the lowest seen on record in more than two decades, according to CoreLogic’s data dating back to 1999. The nation’s overall delinquency dropped to 3.4% at the end of 2021, with the majority of states posting a...
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