Invest in Yourself by Owning a Home

Written by Boynton Beach Mortgage Syndicated User on October 26, 2023. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Pricing.

Are you wondering if it makes sense to buy a home right now? While today’s mortgage rates might seem a bit intimidating, here are two compelling reasons why it still may be a good time to become a homeowner.Home Values Appreciate over TimeThere’s been a lot of confusion around what’s happened with home prices over the past two years. While they did dip ever so slightly in late 2022, this year they’ve been appreciating at a more normal pace, which is good news for the housing market. And while looking at price movement over just a year or two can make you worry prices are usually this unpredictable,...

What Are the Real Reasons You Want To Move Right Now?

Written by Boynton Beach Mortgage Syndicated User on October 19, 2023. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, Demographics, For Sellers, Interest Rates, Selling Myths.

If you’re considering selling your house right now, it’s likely because something in your life has changed. And while things like mortgage rates play a big role in your decision, you don’t want that to overshadow why you thought about making a move in the first place.It’s true mortgage rates are higher right now, and that has an impact on affordability. As a result, 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.But your lifestyle and your changing needs matter, too. As a recent article from Realtor.com...

Are Higher Mortgage Rates Here To Stay?

Written by Boynton Beach Mortgage Syndicated User on October 17, 2023. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates.

Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over two decades (see graph below): That can feel like a little bit of a gut punch if you’re thinking about making a move. If you’re wondering whether or not you should delay your plans, here’s what you really need to know. How Higher Mortgage Rates Impact You There’s no denying mortgage rates are higher right now than they were in recent years. And, when rates are up, that affects...

Understanding the Benefits of Owning Your First Home

Written by Boynton Beach Mortgage Syndicated User on October 5, 2023. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers.

Are you considering buying your first home? If so, it can be helpful to know what led other people to make that decision. According to a recent survey of first-time homebuyers by PulteGroup:“When asked why they purchased their first home recently, the answer was simple: because they wanted to. Either the desire to stop renting or recognition that homeownership is a smart financial investment was the main motivator for 72% of respondents.”While that survey looked specifically at first-time homebuyers buying newly built homes, the same sentiment is true for just about anyone buying their first...

Your Home Equity Can Offset Affordability Challenges

Written by Boynton Beach Mortgage Syndicated User on September 20, 2023. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, For Sellers, Housing Market Updates, Interest Rates, Selling Myths.

Are you thinking about selling your house? If so, today’s mortgage rates may be making you wonder if that’s the right decision. Some homeowners are reluctant to sell and take on a higher mortgage rate on their next home. If you’re worried about this too, know that even though rates are high right now, so is home equity. Here’s what you need to know.Bankrate explains exactly what equity is and how it grows:“Home equity is the portion of your home that you’ve paid off and own outright. It’s the difference between what the home is worth and how much is still owed on your mortgage. As your home’s...

Why Is Housing Inventory So Low?

Written by Boynton Beach Mortgage Syndicated User on September 15, 2023. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, For Buyers, For Sellers, Housing Market Updates, Interest Rates, New Construction.

One question that’s top of mind if you’re thinking about making a move today is: Why is it so hard to find a house to buy? And while it may be tempting to wait it out until you have more options, that’s probably not the best strategy. Here’s why.There aren’t enough homes available for sale, but that shortage isn’t just a today problem. It’s been a challenge for years. Let’s take a look at some of the long-term and short-term factors that have contributed to this limited supply.Underbuilding Is a Long-Standing ProblemOne of the big reasons inventory is low is because builders haven’t been building...

Mortgage Rates: Past, Present, and Possible Future

Written by Boynton Beach Mortgage Syndicated User on September 7, 2023. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, Housing Market Updates, Interest Rates.

If you’re hoping to buy a home this year, you’re probably paying close attention to mortgage rates. Since mortgage rates impact what you can afford when you take out a home loan – and affordability is a challenge today – it’s a good time to look at the big picture of where mortgage rates have been historically compared to where they are now. Beyond that, it’s important to understand their relationship with inflation for insights into where mortgage rates might go in the near future.Giving Context to the Sticker ShockFreddie Mac has been tracking the 30-year fixed mortgage rate since April of...

How Inflation Affects the Housing Market

Written by Boynton Beach Mortgage Syndicated User on September 1, 2023. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, For Buyers, For Sellers, Housing Market Updates, Interest Rates.

Have you ever wondered how inflation impacts the housing market? Believe it or not, they’re connected. Whenever there are changes to one, both are affected. Here’s a high-level overview of the connection between the two.The Relationship Between Housing Inflation and Overall InflationShelter inflation is the measure of price growth specific to housing. It comes from a survey of renters and homeowners that’s done by the Bureau of Labor Statistics (BLS). The survey asks renters how much they’re paying in rent, and homeowners how much they’d rent their homes for, if they weren’t living in them.Much...

Why You Don’t Need To Fear the Return of Adjustable-Rate Mortgages

Written by Boynton Beach Mortgage Syndicated User on August 23, 2023. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, Buying Myths, For Buyers, Interest Rates.

If you remember the housing crash back in 2008, you may recall just how popular adjustable-rate mortgages (ARMs) were back then. And after years of being virtually nonexistent, more people are once again using ARMs when buying a home. Let’s break down why that’s happening and why this isn’t cause for concern.Why ARMs Have Gained Popularity More RecentlyThis graph uses data from the Mortgage Bankers Association (MBA) to show how the percentage of adjustable-rate mortgages has increased over the past few years:As the graph conveys, after hovering around 3% of all mortgages in 2021, many more homeowners...

Don’t Expect a Wave of Foreclosures [INFOGRAPHIC]

Written by Boynton Beach Mortgage Syndicated User on August 19, 2023. Posted in Boynton Beach Condo Financing, Boynton Beach Mortgage, Foreclosures, Infographics, Interest Rates.

Some HighlightsWith ongoing high inflation pushing up everyday costs, some people are worried that’ll create a flood of foreclosures. Here’s why that’s unlikely. Fewer people are seriously behind on mortgage payments right now. If foreclosures were going to rise a lot, more people would need to be late on their payments.Since most are paying on time, a wave isn’t coming. If you’re concerned about a flood of foreclosures, the data shows that’s not likely.

Category: Interest Rates