By Clare Trapasso: REALTOR.COM
Inflation is finally falling, according to a government report released on Tuesday, and mortgage rates might be close behind.
Over the past year and a half, the U.S. Federal Reserve has been hiking its short-term interest rates to combat inflation. This has helped to push up mortgage rates, which are separate from the Fed’s rates but have been moving in a similar direction.
The Fed’s aggressive moves now appear to have been working. Inflation fell to 3.2% year over year in October, down from a 3.7% year-over-year increase in September, according to the consumer price index released on Tuesday.
That could lead the Fed to hold rates steady and...
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By our friends in KCM
If you’ve been following the news recently, you might have seen articles about an increase in foreclosures and bankruptcies. That could be making you feel uneasy, especially if you’re thinking about buying or selling a house.
But the truth is, even though the numbers are going up, the data shows the housing market isn’t headed for a crisis.
Foreclosure Activity Rising, but Less Than Headlines Suggest
In recent years, the number of foreclosures has been very low. That’s because, in 2020 and 2021, the forbearance program and other relief options were put in place to help many homeowners stay in their homes during that tough time.
When the moratorium ended, there was an...
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By Rob Chrisman, Senior Advisor
If we’ve learned anything from 2022 and 2023, it is that they are not 2020 and 2021. Volumes and margins have dropped, as have profits. The number of lenders and originators have dropped as well. And those originators, whether they are brokers, IMB loan officers (LOs) or bank and credit union LOs, have had to adapt to a changed environment where they not only can’t sit at their desk waiting for the phone to ring but must go out and actively look for new business.
Where can LOs find the elusive purchase borrower? Many lenders have originators who are looking for leads in unconventional places....
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Received an email from our friends in KCM and here are my thoughts about this:
Thinking about using your 401(k) to buy a home can be a big decision. While it may seem like a quick fix to achieve your dream of homeownership, it's important to weigh the pros and cons before making any moves. Below are some factors to consider:
Pros:
- Access to funds: Using your 401(k) can give you quick access to a large sum of money for your down payment.
- No credit check: Unlike with traditional loans, borrowing from your 401(k) doesn't require a credit check.
- Interest paid back to yourself: When you borrow from your...
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By Patricia-Anne Tom | REALTOR.COM
Most energy-saving tips are designed to save you a few bucks throughout the year, but how do you know which tips to up your energy efficiency are going to offer the most bang for your buck?
Some tips cost you absolutely nothing, and yet you save money. Other tips will cost you a little, but can help you hold onto as much as 10% of the money you’re currently paying out of pocket. Ready to dive in?
Energy saving tips that really save
Consider these eight energy-saving tips below, so you aren’t sweating when your winter gas bills come, and as the weather warms, evaluate your...
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By: Kimberly Dawn Neumann | REALTOR.COM
Although high mortgage rates have plunged most of America’s housing markets into early hibernation, if you zoom in closer, you’ll find that certain areas are busier and more bustling than a Black Friday doorbuster.
These were the findings of a new report by Realtor.com® of America’s Hottest Housing Markets, which gauges “hotness” via the number of views per listing and how long properties remain for sale.
Despite mortgage rates reaching a recent 23-year high and approaching 8%, homes in the 20 hottest markets in September had no shortage of interest and offers.
“These markets are seeing homes for sale move up to 31 days more quickly than the typical property...
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From our friends in KCM:
The idea of owning a home has always been a big part of the American Dream. It’s a symbol of stability, independence, and having a place to truly call your own. But for Gen Z, the “Zoomers” born between 1997 and 2012, making that dream a reality can feel like quite the challenge today with higher mortgage rates and rising home prices.
But achieving that goal of owning your first home can still be attainable, even today, with some strategic planning and resourcefulness.
Explore Down Payment Assistance Options
With prices rising all around you, it can be hard to save up for a home. If you’ve been struggling to...
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By Kimberly Dawn Neumann | REALTOR.COM
Selling a house can be a stressful process, particularly in today’s rapidly changing market. Although sellers enjoyed a strong seller’s market throughout much of the COVID-19-fueled housing boom rich with bidding wars and record-high prices, rising interest rates have shifted these power dynamics to the point that many prospective sellers might feel downright paralyzed by home-selling “what ifs.”
Like: What if I sell now, but then home prices rise? Or: What if I sell now, but then can’t find a new house? Will I regret selling so soon, or regret not selling soon enough?
What if, what if, what if?
In fact, sellers hesitating to put their homes on the...
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From our friends in KCM
In today’s world of rising housing costs, many buyers are looking for ways to still be able to buy a home. Some of them have found a solution in multi-generational living.
Multi-generational living is when two or more adult generations live together under one roof. This includes siblings, parents, or even grandparents. Here’s an in-depth look at why more buyers are choosing this option today, so you can see if it may be right for you too.
Reasons To Buy a Multi-Generational Home
According to a recent study by the National Association of Realtors (NAR), the top two reasons people are opting for multi-generational homes today have to do with affordability...
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From our friends in KCM
Are you considering buying your first home? If so, it can be helpful to know what led other people to make that decision. According to a recent survey of first-time homebuyers by PulteGroup:
“When asked why they purchased their first home recently, the answer was simple: because they wanted to. Either the desire to stop renting or recognition that homeownership is a smart financial investment was the main motivator for 72% of respondents.”
While that survey looked specifically at first-time homebuyers buying newly built homes, the same sentiment is true for just about anyone buying their first home. Here’s a bit more information to help you think about those two...
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