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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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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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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From our friends in KCM
If you’re planning to buy a home, one thing to consider is what experts project home prices will do in the future and how that might affect your investment. While you may have seen negative news over the past year about home prices, they’re doing far better than expected and are rising across the country. And data shows, experts forecast home prices will keep appreciating.
Experts Project Ongoing Appreciation
Pulsenomics polled over 100 economists, investment strategists, and housing market analysts in the latest quarterly Home Price Expectation Survey (HPES). The results show what the panelists project will happen with home prices over the next five years. Here are those expert forecasts saying home...
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From our friends in KCM
You might remember the housing crash in 2008, even if you didn’t own a home at the time. If you’re worried there’s going to be a repeat of what happened back then, there’s good news – the housing market now is different from 2008.
One important reason is there aren’t enough homes for sale. That means there’s an undersupply, not an oversupply like the last time. For the market to crash, there would have to be too many houses for sale, but the data doesn’t show that happening.
Housing supply comes from three main sources:
Homeowners deciding to sell their houses
Newly built homes
Distressed properties (foreclosures or...
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By: KCM
Have you been trying to buy a home, but higher mortgage rates and home prices are limiting your options? If so, here’s some good news – based on what Ali Wolf, Chief Economist at Zonda, has to say – smaller, more affordable homes are on the way:
“Buyers should expect that over the next 12 to 24 months there will be a notable increase in the number of entry-level homes available.”
In some ways, smaller homes are already here. When the pandemic hit, the meaning of home changed. People needed the space their home provided not only as a place to live, but as a place to work, go to school, exercise, and more. Those who had that...
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Modern farmhouses and beyond.
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Stanly Ranch, an Auberge resort in Napa, California, isn’t your typical hotel. Instead of one big elevator building, a slew of modern black houses dot the 700-acre property. The sleek villas served as an inspiring setting for Behr’s annual color of the year announcement. The paint purveyor revealed today that Cracked Pepper is its top choice for 2024, and it’s a no-brainer as to where to use it. “It’s the perfect exterior color,” says Sarah Fishburne, Home Depot’s director of trend and design.
Photography by Emily Dorio
Of course, the “soft black,” as Erika Woelfel,...
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