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Tag: #deerfieldbeachmortgagerates

How Owning a Home Grows Your Wealth with Time [INFOGRAPHIC]

Written by Deerfield Beach Mortgage Syndicated User on . Posted in Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers, Pricing.

Some HighlightsIf you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership.Over time, homeownership allows you to build equity. On average, nationwide home prices appreciated by 290.2% over the last 32 years.That means your net worth can grow significantly in the long term when you own a home. Reach out to a real estate professional so you can start your homebuying journey today.

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Why Buying or Selling a Home Helps the Economy and Your Community

Written by Deerfield Beach Mortgage Syndicated User on . Posted in Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, For Buyers, For Sellers.

If you’re thinking about buying or selling a house, it’s important to know that it doesn’t just affect your life, but also your community.The National Association of Realtors (NAR) releases a report every year to show how much economic activity is generated by home sales. The chart below illustrates that impact:As the visual shows, when a house is sold, it can make a big difference in the local economy. The impact comes largely from the workers required to build, update, and buy and sell homes. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB),...

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A Drop in Equity Doesn’t Mean Low Equity

Written by Deerfield Beach Mortgage Syndicated User on . Posted in Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing.

You may see media coverage talking about a drop in homeowner equity. What’s important to understand is that equity is tied closely to home values. So, when home prices appreciate, you can expect equity to grow. And when home prices decline, equity does too. Here’s how this has played out recently. Home prices rose rapidly during the ‘unicorn’ years. That gave homeowners a considerable equity boost. But those ‘unicorn’ years couldn’t last forever. The market had to moderate at some point, and that’s what we saw last fall and winter. As home prices dropped slightly in the back half of 2022, equity...

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Your Needs Matter More Than Today’s Mortgage Rates

Written by Deerfield Beach Mortgage Syndicated User on . Posted in Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, For Buyers, For Sellers, Interest Rates, Move-Up Buyers.

If you’re thinking about selling your house right now, chances are it’s because something in your life has changed. And, while things like mortgage rates are a key part of your decision on what you’ll buy next, it’s important to not lose sight of the reason you want to make a change in the first place.It’s true mortgage rates have climbed from the record lows we saw in recent years, and that has an impact on affordability. With rates where they are right now, some homeowners are deciding they’ll wait to sell because they don’t want to move and have a higher mortgage rate on their next home....

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Are Home Prices Going Up or Down? That Depends…

Written by Deerfield Beach Mortgage Syndicated User on . Posted in Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing.

Media coverage about what’s happening with home prices can be confusing. A large part of that is due to the type of data being used and what they’re choosing to draw attention to. For home prices, there are two different methods used to compare home prices over different time periods: year-over-year (Y-O-Y) and month-over-month (M-O-M). Here’s an explanation of each. Year-over-Year (Y-O-Y):This comparison measures the change in home prices from the same month or quarter in the previous year. For example, if you’re comparing Y-O-Y home prices for April 2023, you would compare them...

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Why You Can’t Compare Now to the ‘Unicorn’ Years of the Housing Market [INFOGRAPHIC]

Written by Deerfield Beach Mortgage Syndicated User on . Posted in Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Infographics, Pricing.

Some HighlightsComparing housing market metrics from one year to another can be challenging in a normal housing market – and the last few years have been anything but normal. In a way, they were ‘unicorn’ years.Expect unsettling housing market headlines this year, mostly due to unfair comparisons with the ‘unicorn’ years.Connect with a local real estate professional who can share the data that puts those headlines in the proper perspective.

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This Real Estate Market Is the Strongest of Our Lifetime

Written by Deerfield Beach Mortgage Syndicated User on . Posted in Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, For Buyers, For Sellers, Housing Market Updates.

When you look at the numbers today, the one thing that stands out is the strength of this housing market. We can see this is one of the most foundationally strong housing markets of our lifetime – if not the strongest housing market of our lifetime. Here are two fundamentals that prove this point. 1. The Current Mortgage Rate on Existing MortgagesFirst, let’s look at the current rate on existing mortgages. According to the Federal Housing Finance Agency (FHFA), as of the fourth quarter of last year, over 80% of existing mortgages have a rate below 5%. That’s significant. And, to take that one...

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The Main Reason Mortgage Rates Are So High

Written by Deerfield Beach Mortgage Syndicated User on . Posted in Deerfield Beach Condo Mortgage, Deerfield Beach Mortgage, For Buyers, Interest Rates.

Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions: Why Are Mortgage Rates So High?When Will Rates Go Back Down?Here’s context you need to help answer those questions.1. Why Are Mortgage Rates So High? The 30-year fixed-rate mortgage is largely influenced by the supply and demand for mortgage-backed securities (MBS). According to Investopedia: “Mortgage-backed securities (MBS) are investment...

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