In today’s market where mortgage rates steadily climb and housing prices are skyrocketing, buying an apartment or a house is a daunting task. Inventory seems insufficient to meet the demand, which means that most properties sell rather quickly. In such situation, in addition to quality inspection and due diligence buyers need to perform, it is equally important to choose the insurance for your … [Read more...]

It is safe to say that housing market has been quite unusual since the start of the global pandemic. Contrary to what we would expect in the times of economic uncertainty, the market was really live and prices drastically increased. Yet, even though market is not friendly to buyers currently, that does not mean that purchasing a house is out of your reach. Ensure that your loan has the best … [Read more...]

One of the biggest reasons why the housing market boom may continue is because of real mortgage rates. Right now we have seen the fixed mortgage rate jump from 3.1% to 5.25% in the time period between December to April which is basically unheard of. The real mortgage number even went negative for the first time since the 1970s back in January. We are currently going through an era where the real … [Read more...]

Increased demand for existing homes along with limited inventory has caused the price of homes to significantly increase. Therefore, a newly constructed home might be the better option. However, while these homes offer improved energy efficiency and amenities, the costs can quickly get out of control. So, if you want to avoid expensive mistakes when purchasing a new house consider negotiating … [Read more...]

There is a chance that home prices will decline in local housing markets according to an interactive chart. One of the big problem with spiking mortgage rates is that it out prices some of the potential homebuyers which leads to higher prices but also more of a demand. The 30 year fixed mortgage rate increased from 3.11% in December to 5.11% just four months later. That may not seem like much but … [Read more...]

Due to the increase of rising home prices, the loan limits for Veterans Affairs are much higher. These limits are put in place because it guarantees a specific amount that a veteran can borrow. It also will come up with a figure that fits both your debt to income ratio as well as your credit score. You can calculate the limit of your loan by writing down the loan amount and multiplying it by 0.25. … [Read more...]

A recent survey from GOBankingRates found that only a quarter of Americans feel they have a good understanding of the home buying process. Pre-approval and closing costs are the most confusing aspects. Pre-approval refers to mortgages. After conducting research, the lender can issue pre-approval for up to a certain amount of money. Note that there are a number of different types of mortgages: both … [Read more...]

Inflation is higher now than it has been in years, which is negatively impacting the housing market. Inflation impacts both home prices and mortgage rates. This article lists five tips for buying a house when inflation is rising: buy a house immediately so that you can get today's price, determine your maximum budget for monthly mortgage and factor in other high costs, branch out and look at … [Read more...]

There are many things that you can do when it comes to waiting for the housing market to cool down. One of the best things that you can do is improve your credit score. A great credit score will allow you to buy a house at a much more affordable rate. You also should try to save up money as that will allow you to place a larger down payment. Finally, look into an extended mortgage rate as that … [Read more...]

Housing market is really wild it really took off at the beginning of the global pandemic. Prices are at the historically high levels and people looking for a property for the first time have a difficult task in securing the dwelling of their choice. Bids are extremely competitive and wars between bidders are expected, regardless of the quality of the property. It is important to know some … [Read more...]