What’s Happening with Mortgage Rates, and Where Will They Go from Here?

Written by Emerald Coast Mortgage Syndicated User on April 1, 2022. Posted in Emerald Coast Mortgage, For Buyers, Housing Market Updates, Interest Rates, Mortgage Emerald Coast, Pricing.

Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021 was steady compared to the rapid increase in mortgage rates this year: Just a few months ago, Freddie Mac projected mortgage rates would average 3.6% in 2022. Earlier this month, Fannie Mae forecast mortgage rates would average 3.8% in 2022. As the chart above shows, rates have already surpassed...

There Are Several Great Reasons To Consider Buying a Condo Today

Written by Emerald Coast Mortgage Syndicated User on April 1, 2022. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Mortgage Emerald Coast, Pricing.

If you’re a first-time buyer looking to break into the housing market but struggling to find a home to buy, condominiums (or condos) could be a great alternative for you. Here are a few reasons condos may be something you’ll want to consider. Exploring Condos Could Add Options That Fit Your Budget Supply challenges are a reality across the board in today’s housing market. Broadening your home search to include condos could increase your overall pool of options. Just keep in mind, condos generally differ from single-family homes in average space and floorplans. In a recent article, Bankrate...

An Expert Advisor Will Give You the Best Advice in Today’s Market

Written by Emerald Coast Mortgage Syndicated User on March 1, 2022. Posted in Emerald Coast Mortgage, For Buyers, For Sellers, Housing Market Updates, Mortgage Emerald Coast.

Having an experienced guide coaching you through the process of buying or selling a home is important in a normal market – but today’s market is far from normal. As a result, an expert real estate advisor isn’t just good to have by your side, they’re essential. Today’s housing market is full of extremes. Experts project mortgage rates will continue to rise this year, and that’s driving significant demand for homes as buyers want to make their purchases before rates climb even higher. At the same time, an absence of sellers is leading to record-low housing inventory. This imbalance in supply...

The Difference Between Renting and Owning [INFOGRAPHIC]

Written by Emerald Coast Mortgage Syndicated User on March 1, 2022. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Infographics, Mortgage Emerald Coast, Move-Up Buyers, Rent vs. Buy.

Some Highlights If you’re deciding whether to rent or buy, consider the many financial benefits that come with owning a home. As a renter, you build your landlord’s wealth and face rising costs. As a homeowner, you build your own net worth and can lock in your monthly payments for the length of your loan. If you’re weighing your options, remember that owning a home is a decision that has considerable financial perks. If you want to learn more, let’s connect to talk about the perks of homeownership. Content previously posted on Keeping Current Matters

Millennials: Do You Need a Home with More Space?

Written by Emerald Coast Mortgage Syndicated User on March 1, 2022. Posted in Demographics, Down Payments, Emerald Coast Mortgage, For Buyers, For Sellers, Millennials, Mortgage Emerald Coast, Move-Up Buyers.

If you’re a millennial, homebuying might be top of mind for you. Your generation is the largest group of homebuyers in the market today and has been since 2014, according to the National Association of Realtors (NAR). And while other millennials are looking to buy for the first time, you may be one of the many who are now discovering you’ve outgrown your home. If that’s the case, you’re not alone. The past two years brought about significant changes for many people, and today, homeowners are reevaluating what they truly need in a home. As a recent report from the Wall Street Journal states: “They...

Why a Move Could Bring You More Happiness This Year

Written by Emerald Coast Mortgage Syndicated User on February 1, 2022. Posted in Emerald Coast Mortgage, For Buyers, For Sellers, Mortgage Emerald Coast, Move-Up Buyers.

Over the past two years, we’ve lived through one of the most stressful periods in recent history. Because of the health crisis, many of us have spent more time at home and that’s led us to re-evaluate both what we need in a house and how much we appreciate having a safe space. If you’ve found your current home isn’t filling all your needs, you may be wondering if it’s time to find a new one. There’s reason to believe a change of scenery could boost your happiness. Catherine Hartley, an Assistant Professor at New York University’s Department of Psychology and co-author of a study on how new...

Why Your Home Inspection Matters [INFOGRAPHIC]

Written by Emerald Coast Mortgage Syndicated User on February 1, 2022. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Infographics, Mortgage Emerald Coast, Move-Up Buyers.

Some Highlights Buying a home and wondering if your inspection is necessary? While some buyers may decide to waive their inspection, it’s risky decision. Your home inspection is a crucial step in the homebuying process. It assesses the condition of the home you plan to purchase, so you can avoid costly surprises down the road. Let’s connect so you have expert advice and a trusted professional who will keep your interests top of mind. Content previously posted on Keeping Current Matters

Owning Is More Affordable than Renting in the Majority of the Country

Written by Emerald Coast Mortgage Syndicated User on February 1, 2022. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Interest Rates, Mortgage Emerald Coast, Pricing, Rent vs. Buy.

If you were thinking about buying a home this year, but already pressed pause on your plans due to rising home prices and increasing mortgage rates, there’s something you should consider. According to the latest report from ATTOM Data, owning a home is more affordable than renting in the majority of the country. The 2022 Rental Affordability Report says: “. . . Owning a median-priced home is more affordable than the average rent on a three-bedroom property in 666, or 58 percent, of the 1,154 U.S. counties analyzed for the report. That means major home ownership expenses consume a smaller portion...

Expert Insights on the 2022 Housing Market

Written by Emerald Coast Mortgage Syndicated User on January 1, 2022. Posted in Emerald Coast Mortgage, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage Emerald Coast, Pricing.

As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022. Odeta Kushi, Deputy Chief Economist, First American: “Consensus forecasts put rates at about 3.7% by the end of next year. So, that’s still historically low, but certainly higher than they are today.” Danielle Hale, Chief Economist, realtor.com: “Affordability will increasingly be a challenge...

How To Think Strategically as a Buyer in Today’s Market

Written by Emerald Coast Mortgage Syndicated User on December 1, 2021. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Mortgage Emerald Coast, Move-Up Buyers.

The game of chess can provide incredible lessons to apply to all aspects of life, including the homebuying process. Chess requires you to plan and think about your strategy from the very beginning of the game. The homebuying process, like chess, requires strategy and planning. Here are a few things to keep in mind to ensure your plan is as strong as possible when you begin your home search. Pre-Approval: the Best Opening Play To Make as a Homebuyer It’s important to have a great opening play when you’re buying a home. And the best move you can make when you begin your home search is getting...

Category: For Buyers