What You Should Know About Closing Costs   Before you buy a home, it’s important to plan ahead. While most buyers consider how much they need to save for a down payment, many are surprised by the closing costs they have to pay. To ensure you aren’t caught off guard when it’s time to close on your home, you need to understand what closing costs are and how much you should budget for. What Are Closing Costs? People are sometimes surprised by... [read more]

How Changing Mortgage Rates Can Affect You   The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power. The chart below helps show the general relationship between mortgage rates and a typical monthly mortgage payment: Even a 0.5% change can have a big impact on your... [read more]

The Three Factors Affecting Home Affordability Today   There has been a great deal of attention on the impact of rising mortgage rates on the affordability of homes for today's purchasers. It is true that rates have substantially increased since the pandemic-era record lows. But home affordability is determined by a combination of mortgage rates, property prices, and wages. Considering how each of these factors is evolving provides a complete picture of the current state of home... [read more]

You may want to share this with your friends! Mortgage rates are at a 20 year high, but it’s still below the 40-year average. Build equity, refinance later. Yesterday was the best time to buy. Today is the next. Tomorrow is an option. Waiting always creates regret with “I could/should have.” Keep in mind that once rates drop, more buyers will come in the market. That means more competition than there is now! Do you need help to see if you can... [read more]

Are Higher Mortgage Rates Here To... [read more]