If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise, so… [Read More]
Protect Your House from Inflation 🏠
If you’re following the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can pinch your wallet and make you re-evaluate any big purchases you have planned to ensure they’re still worthwhile. If… [Read More]
Rising Mortgage Rates as a Buyer💸
In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is timing has never been more critical. Even though you may be tempted to put your plans on hold in hopes that rates… [Read More]
Where Are Mortgage Rates Headed? 🤔
There’s never been a more accurate statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American: “You know, the fallacy of economic forecasting is: Don’t ever try and forecast interest rates and or, more specifically, if you’re a real estate economist mortgage rates, because you will always invariably… [Read More]