The COVID-19 pandemic brought about historically low mortgage rates, prompting many homeowners to buy or refinance their homes. However, as rates doubled in 2022, some homeowners put their plans to move on hold to avoid losing the low mortgage rate on their current homes. Although rates have started to decline, they’re still higher than… [Read More]
Why Waiting To Sell ⏳
Many homeowners who plan to sell in 2022 may think the wise thing to do is wait for the spring buying market since, historically, about 40 percent of home sales occur between April and July. However, this year’s expected to be much different than the norm. So here are five reasons to list your house… [Read More]
Avoid the Rental Trap in 2022 🪤
Are you one of the many renters thinking about where you’ll live the next time your lease is up? Before you decide whether to look for a new house or another apartment, it’s essential to understand the actual costs of renting in 2022. As a renter, you should know rents have been rising since 1988 (see graph below):… [Read More]
How Much Down Payment? 💰
As you set out on your home buying journey, you likely have a plan in place, and you’re working on saving for your purchase. But do you know how much you actually need for your down payment? If you think you have to put 20% down, you may have set your goal based on a… [Read More]
Rise in Mortgage Rates 📈
Every Thursday, Freddie Mac releases the results of their Primary Mortgage Market Survey, which reveals the most recent movement in the 30-year fixed mortgage rate. Last week, the rate was announced as 3.01%. It was the first time in three months that the mortgage rate surpassed 3%. In a press release accompanying the survey, Sam Khater, Chief Economist at Freddie Mac, explains:… [Read More]
MARKET TRENDS REPORT|DEC. ’21 📺
The market saw a staggering 33.41 percent decrease in month-end active inventory from October to November, dropping to 2,248. Throughout the entire Denver Metro area, there are currently only 1,444 single-family detached properties and 804 attached properties to buy. Over the past five years, month-end active inventory dropped between 23.36 percent in 2016 and 27.92… [Read More]
Understanding Mortgage Rates 📈
Every Thursday, Freddie Mac releases the results of their Primary Mortgage Market Survey, which reveals the most recent movement in the 30-year fixed mortgage rate. Last week, the rate was announced as 3.01%. It was the first time in three months that the mortgage rate surpassed 3%. In a press release accompanying the survey, Sam Khater, Chief Economist at Freddie Mac, explains:… [Read More]
Credit Report Errors ❌
You get your credit report to review your accounts, and there it is—a debt you don’t recognize that’s causing a derogatory mark. It’s important to stay calm in these situations. Sometimes things end up on your credit report that shouldn’t be there—either because your lender or creditor has made a mistake or there’s fraudulent activity… [Read More]
Factors that impact Credit Score 🎯
Your credit score shows potential lenders a snapshot of your credit history. Have you ever wondered what goes into calculating that score? Let’s explore the factors that make up this important number. What’s a credit score? Before reviewing the six factors that impact your score, it’s important to understand how a credit score is determined…. [Read More]
Establishing Credit 💳
Establishing good credit can go a long way toward helping you build and maintain your credit history. With determination, planning, and maybe a little help from others, you’ll be on the path toward good credit. Getting started Building your credit history from scratch may feel challenging. Lenders want to see that you’ve established good credit… [Read More]