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There’s a lot of confusion in the market about what’s happening with day-to-day movement in mortgage rates right now, but here’s what you really need to know: compared to the near 8% peak last fall, mortgage rates have trended down overall. And if you’re looking to buy or sell a home, this is a big deal. While they’re going to continue to bounce around a bit based on various economic drivers (like inflation and reactions to the consumer price index, or CPI), don’t let the short-term volatility distract you. The experts agree the overarching downward trend should continue this year. While we won’t see the record-low rates homebuyers got during the pandemic, some experts think we should see rates dip below 6% [...]

Buying your first home is a big, exciting step and a major milestone that has the power to improve your life. As a first-time homebuyer, it's a dream you can make come true, but there are some hurdles you'll need to overcome in today’s housing market – specifically the limited supply of homes for sale and ongoing affordability challenges.So, if you're ready, willing, and able to buy your first home, here are three tips to help you turn your dream into a reality.Save Money with First-Time Homebuyer Programs                                       Paying the initial costs of homeownership, like your down payment and closing costs, can feel a bit daunting. But there are many assistance programs for first-time homebuyers that can help you get a loan with [...]

If you're thinking of selling your house this spring, now is the perfect time to start getting it ready. With the market gearing up for its busiest time of year, it'll be important to make sure your house shines bright among the competition.Here are some valuable tips you can use to get your house market-ready.Declutter and OrganizeFirst impressions matter, and if your house is a mess, that can easily turn off potential buyers. Before listing, take the time to declutter and organize each room. Decluttering is about more than just tidying up – it's about creating a sense of space and openness that allows potential buyers to envision themselves living in your home. According to Moving.com:“Decluttering and organizing your space will go [...]

Some HighlightsIf you’re trying to buy a home but are having a hard time finding something in your budget, here’s something that can help: consider condos and townhomes.They may better fit your budget, can help you start building equity, and tend to require minimal upkeep and less maintenance.Looking at condos and townhomes can make it easier to find and buy a home. When you're ready, connect with a local real estate agent.

Based on what you’re hearing in the news about home prices, you may be worried they’re falling. But here’s the thing. The headlines aren’t giving you the full picture.If you look at the national data for 2023, home prices actually showed positive growth for the year. While this varies by market, and while there were some months with slight declines nationally, those were the exception, not the rule.The overarching story is that prices went up last year, not down. Let’s dive into the data to set the record straight. 2023 Was the Return to More Normal Home Price GrowthIf anything, last year marked a return to more normal home price appreciation. To prove it, here’s what usually happens in residential real estate.In the housing [...]

Chances are at some point in your life you’ve heard the phrase, home is where the heart is. There’s a reason that’s said so often. Becoming a homeowner is emotional.So, if you’re trying to decide if you want to keep on renting or if you’re ready to buy a home this year, here’s why it’s so easy to fall in love with homeownership.Customizing to Your Heart’s DesireYour house should be a space that’s uniquely you. And, if you’re a renter, that can be hard to achieve. When you rent, the paint colors are usually the standard shade of white, you don’t have much control over the upgrades, and you’ve got to be careful how many holes you put in the walls. But [...]

Homeownership is a major part of the American Dream. But, the path to achieving this dream can be quite difficult. While progress has been made to improve fair housing access, households of color still face unique challenges on the road to owning a home. Working with the right real estate experts can make all the difference for diverse buyers.It's clear that achieving homeownership is more challenging for certain groups because there’s still a measurable gap between the overall average U.S. homeownership rate and that of non-white groups. Today, Black households continue to have the lowest homeownership rate nationally (see graph below):Homeownership is an important part of building household wealth that can be passed down to future generations. According to a report by [...]

Are you feeling a bit unsure about what’s really happening with mortgage rates? That might be because you’ve heard someone say they’re coming down. But then you read somewhere else that they’re up again. And that may leave you scratching your head and wondering what’s true.The simplest answer is: that what you read or hear will vary based on the time frame they’re looking at. Here’s some information that can help clear up the confusion.Mortgage Rates Are Volatile by NatureMortgage rates don’t move in a straight line. There are too many factors at play for that to happen. Instead, rates bounce around because they’re impacted by things like economic conditions, decisions from the Federal Reserve, and so much more. That means they [...]

Some HighlightsIn today's housing market, you can still come out on top if you have the right team and plan.To win when buying a home, you need to build your team, make strategic plays, consider what’s in and out of bounds, and stand out from the crowd.Connect with a local real estate agent today to make your winning move.

Are you on the fence about selling your house? While affordability is improving this year, it’s still tight. And that may be on your mind. But understanding your home equity could be the key to making your decision easier. An article from Bankrate explains:“Home equity is the difference between your home's value and the amount you still owe on your mortgage. It represents the paid-off portion of your home.You'll start off with a certain level of equity when you make your down payment to buy the home, then continue to build equity as you pay down your mortgage. You'll also build equity over time as your home's value increases.”Think of equity as a simple math equation. It's the value of your home [...]