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Is It Getting More Affordable To Buy a Home?

Written by Cape San Blas Mortgage Syndicated User on April 19, 2024. Posted in Affordability, Cape San Blas Mortgage, Cape San Blas Mortgage Rates, For Buyers.

Over the past year or so, a lot of people have been talking about how tough it is to buy a home. And while there’s no arguing affordability is still tight, there are signs it’s starting to get a bit better and may improve even more throughout the year. Elijah de la Campa, Senior Economist at Redfin, says:“We’re slowly climbing our way out of an affordability hole, but we have a long way to go. Rates have come down from their peak and are expected to fall again by the end of the year, which should make homebuying a little more affordable and incentivize buyers to come off the...

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Is It Better To Rent Than Buy a Home Right Now?

Written by Cape San Blas Mortgage Syndicated User on April 18, 2024. Posted in Buying Tips, Cape San Blas Mortgage, Cape San Blas Mortgage Rates, For Buyers, Rent vs. Buy.

You may have seen reports in the news recently saying it’s more affordable to rent right now than it is to buy a home. And while that may be true in some markets if you just look at typical monthly payments, there’s one thing that the numbers aren’t factoring in: and that’s home equity. Here’s a look at how big of an impact equity can have and why it’s worth considering as you make your decision.What the Headlines Are Based onThe graph below uses national data on the median rental payment from Realtor.com and median mortgage payment from the National Association of Realtors (NAR) to compare...

Should I Wait for Mortgage Rates To Come Down Before I Move?

Written by Cape San Blas Mortgage Syndicated User on April 17, 2024. Posted in Cape San Blas Mortgage, Cape San Blas Mortgage Rates, For Sellers, Mortgage Rates, Selling Tips.

If you’ve got a move on your mind, you may be wondering whether you should wait to sell until mortgage rates come down before you spring into action. Here’s some information that could help answer that question for you.In the housing market, there’s a longstanding relationship between mortgage rates and buyer demand. Typically, the higher rates are, you’ll see lower buyer demand. That’s because some people who want to move will be hesitant to take on a higher mortgage rate for their next home. So, they decide to wait it out and put their plans on hold.But when rates start to come down,...

What You Really Need To Know About Home Price Headlines

Written by Cape San Blas Mortgage Syndicated User on April 12, 2024. Posted in Cape San Blas Mortgage, Cape San Blas Mortgage Rates, Home Prices.

According to recent data from Fannie Mae, almost 1 in 4 people still think home prices are going to come down. If you’re one of the people worried about that, here’s what you need to know.A lot of that fear is probably coming from what you’re hearing in the media or reading online. But here’s the thing to remember. Negative news sells. That means, you may not be getting the full picture. You may only be getting the clickbait version. As Jay Thompson, a Real Estate Industry Consultant, explains:“Housing market headlines are everywhere. Many are quite sensational, ending with exclamation...

Ways To Use Your Tax Refund If You Want To Buy a Home

Written by Cape San Blas Mortgage Syndicated User on April 12, 2024. Posted in Buying Tips, Cape San Blas Mortgage, Cape San Blas Mortgage Rates, First-Time Buyers, For Buyers, Mortgage Rates.

Have you been saving up to buy a home this year? If so, you know there are a number of expenses involved – from your down payment to closing costs. But did you also know your tax refund can help you pay for some of these expenses? As Credit Karma explains:“If one of your goals is to stop renting and buy a home, you’ll need to save up for closing costs and a down payment on the mortgage. A tax refund can give you a start on the road to homeownership. If you’ve already started to save, your tax refund could move you down the road faster.”While how much money you may get in a tax refund is...

The Perks of Downsizing When You Retire [INFOGRAPHIC]

Written by Cape San Blas Mortgage Syndicated User on April 11, 2024. Posted in Cape San Blas Mortgage, Cape San Blas Mortgage Rates, For Sellers, Infographics.

Some HighlightsIf you’re about to retire, or just did, downsizing can be a good way to try to cut down on some of your expenses.Smaller homes typically have lower energy and maintenance costs. Plus, you may have enough equity built up to fuel your move.If you’re thinking about moving to a smaller home, connect with a real estate professional to go over your goals and look at your options in the local market.

Should I Move with Today’s Mortgage Rates?

Written by Cape San Blas Mortgage Syndicated User on April 11, 2024. Posted in Cape San Blas Mortgage, Cape San Blas Mortgage Rates, For Sellers, Mortgage Rates.

When mortgage rates spiked up over the last few years, some homeowners put their plans to move on pause. Maybe you did too because you didn’t want to sell and take on a higher mortgage rate for your next home. But is that still the right strategy for you?In today’s market, data shows more homeowners are getting used to where rates are and thinking it may be time to move. As Mark Zandi, Chief Economist at Moody’s Analytics, explains:“Listings are up a bit as life events and job changes are putting increasing pressure on locked-in homeowners to sell their homes. Homeowners may also be slowly...

Builders Are Building Smaller Homes

Written by Cape San Blas Mortgage Syndicated User on April 11, 2024. Posted in Cape San Blas Mortgage, Cape San Blas Mortgage Rates, First-Time Buyers, For Buyers.

There’s no arguing it, affordability is still tight. And if you’re trying to buy a home, that may mean you need to look at smaller houses to find one that’s still in your budget. But there is a silver lining: builders are focused on building these smaller homes right now and they’re offering incentives. And that can help give you more options that fit the bill.Newly Built Homes Are Trending SmallerDuring the pandemic, homebuyers wanted (and could afford) larger homes – and builders delivered. They focused on homes that were bigger, so people had more space for things like working from...

The Top 5 Reasons You Need a Real Estate Agent when Buying a Home

Written by Cape San Blas Mortgage Syndicated User on April 10, 2024. Posted in Cape San Blas Mortgage, Cape San Blas Mortgage Rates, For Buyers.

You may have heard headlines in the news lately about agents in the real estate industry and discussions about their commissions. And if you’re following along, it can be pretty confusing. But here’s the thing you really need to know – expert advice from a trusted real estate agent is priceless, now more than ever. And here’s why.A real estate agent does a lot more than you may realize. Your agent is the person who will guide you through every step when buying a home and look out for your best interests along the way. They smooth out a complex process and take away the bulk of the stress of...

Don’t Let Your Student Loans Delay Your Homeownership Plans

Written by Cape San Blas Mortgage Syndicated User on April 9, 2024. Posted in Cape San Blas Mortgage, Cape San Blas Mortgage Rates, First Time Home Buyers, For Buyers.

If you have student loans and want to buy a home, you might have questions about how your debt affects your plans. Do you have to wait until you’ve paid off those loans before you can buy your first home? Or is it possible you could still qualify for a home loan even with that debt? Here’s a look at the latest information so you have the answers you need.A Bankrate article explains:“Roughly 60 percent of U.S. adults who have held student loan debt have put off making important financial decisions due to that debt . . . For Gen Z and millennial borrowers alone, that number rises to 70...

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