Cost of Waiting to Buy a Home
Home affordability declines quickly when rates and prices rise together. Buyers who are waiting to purchase may not qualify for the same price home today in 6 months! In a rising market, you usually can't out-save appreciation.
Home Sales Predicted to Increase by 1%
Busy week ahead of us. New home sales are predicted to increase by 1% while pending home sales will decrease by 10%.
Livingston Market Update for February 2022
Home average sales prices are up +10% YTD with days on market down -12% YTD. It's a great time to list your home and take advantage of its appreciation.
What Will Happen to Prices Due to Inflation & Higher Mortgage Costs?
Higher inflation increases interest in holding durable assets like real estate. In doing so this also affects the cost of money creating increases; both affect the impact prices.
3 Financial Advantages to Home Ownership
As you can imagine, numerous factors are involved and one size often does not fit all, but there are many advantages to homeownership. Here are the top 3 in our opinion!
Inflation Hits a 40 Year High!
Consumer inflation reached a 40-year high and Fed members made headlines in response. Jobless Claims continue to move in the right direction.
Don't Miss Out on Tax Season!
There are several types of tax exemptions you may receive when you own a home. Find out which in this blog.
Factors of a Credit Score
Purchasing a home is a big investment. Therefore, lenders want to make sure you’ll be able to pay it back on time, and your credit score is one of the most important indicators of this.
Mortgage Rates are Certainly Climbing
Mortgage rates are certainly climbing up this week, due in part to the Feds easing up on buying mortgage-backed securities, the inflationary jitters that could drive a recession, and, of course, the pandemic.
2021 Quick Review - 2022 What's Ahead
Bidding wars, skyrocketing home values, and low rates made it a year unlike any other for homeowners and buyers: Inventory fell to record-setting lows, with far fewer homes for sale than buyers wanted. The resulting bidding wars created record-setting price increases, too.
How Your Taxes Can Work For Your Home Loan!
It's that time of year again, the beginning of Tax Season 2022! If you're expecting a sizeable refund this year, there are three easy ways you can use it to strategize your perfect home loan!
What's in a Mortgage Payment?
You may have heard the term PITI regarding the breakdown of a total monthly mortgage payment. Lenders look at an entire PITI payment, not just principal and interest when determining how much a buyer may qualify for.
Housing Markets Seasonal Pricing
It's fact; housing markets are inherently local, with seasonal pricing and sales volume patterns that repeat every year, especially in colder-weather markets. That pattern is evident when we look at single-family home sales volumes for the five years prior to 2020
Claims Hit Their Lowest Level Since 1969
Inflation, home prices, and rents are all on the rise, while Initial Jobless Claims hit their lowest level since 1969.
Week of November 29, 2021 in Review
There were some mixed messages regarding November job creations while home prices continued to rise in October. Plus, the new Omicron COVID variant and Fed chatter regarding inflation led to volatility in the markets.
GREAT NEWS FOR OUR FHA HOME BUYERS
The Federal Housing Agency (FHA) has just increased the amount of money that can be borrowed through its mortgage programs by more than $64k in most areas. In high-cost locations, the increase is even greater. New limits will take effect in 2022.
2022 HOME LOAN LIMIT INCREASE
The Federal Housing Finance Agency (FHFA) just raised their conforming loan limit for 2022 by 18% to a maximum amount of $647,200 with high-cost areas being $970,800.
Inflations Impact on Mortgage Bonds and Rates
A full serving of news on inflation, housing, and the economy was reported ahead of Thanksgiving, with plenty of headlines for the markets to feast on.
Housing Units Planned But Not Started
The high demand for homes around the country has helped homebuilders remain confident, despite ongoing supply, labor, and lot shortages. Meanwhile, rents continue to rise.
Current Inflation Matters for Mortgage Bonds and the Home Loan Rates
Fall has ushered in cooler temperatures and hotter inflation, which is having an impact on households around the country and confidence among small business owners.