Tag: Home Prices

Don’t Wait Until Spring To Sell Your House

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Posted on 02/02/2024

As you think about the year ahead, one of your big goals may be moving. But, how do you know when to make your move? While spring is usually the peak homebuying season, you don’t actually need to wait until spring to sell. Here's why. 1. Take Advantage of Lower Mortgage Rates Last October, the 30-year fixed mortgage...

Why It’s More Affordable To Buy a Home This Year

Interest Rates

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Posted on 01/30/2024

Home affordability depends on three factors: mortgage rates, home prices, and wages. Mortgage rates are down from their recent peak, home prices are expected to rise at a slower pace, and wages are increasing faster than usual. That’s good news if you want to buy a home because it means affordability is getting better....

Experts Project Home Prices Will Increase in 2024

Posted on 01/23/2024

Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline over the next 12 months. That means almost one out of every four people are dealing with that fear, and you might...

Housing Market

3 Must-Do’s When Selling Your House in 2024

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Posted on 01/23/2024

If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home. A great way to balance those emotions and make sure you’re confident in your decision is to keep these three best...

3 Key Factors Affecting Home Affordability

Posted on 01/18/2024

Over the past year, a lot of people have been talking about housing affordability and how tight it’s gotten. But just recently, there’s been a little bit of relief on that front. Mortgage rates have gone down since their most recent peak in October. But there’s more to being able to afford a home than just mortgage rates....

2 Reasons Why Today’s Mortgage Rate Trend Is Good for Sellers

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Posted on 01/18/2024

If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you. Mortgage rates have descended since last October when they hit 7.79%. In fact, they’ve been below 7% for over a month now (see graph below): And while they’re...

Mortgage Rates

Home Prices Forecast To Climb over the Next 5 Years

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Posted on 01/12/2024

If you’re worried about what’s next for home prices, know the HPES shows experts are projecting they’ll continue to rise at least through 2028. Based on that forecast, if you bought a $400,000 house this year, experts say it could gain over $72,000 in equity over the next five years. If you're worried about falling home prices, don't...

Ways Your Home Equity Can Help You Reach Your Goals

Posted on 01/09/2024

If you’ve owned your house for at least a couple of years, there’s something you’re going to want to know more about – and that’s home equity. If you’re not familiar with that term, Freddie Mac defines it like this: “. . . your home’s equity is the difference between how much your home is worth and how...

Home Values

Why Pre-Approval Is Your Homebuying Game Changer

Posted on 01/04/2024

If you’re thinking about buying a home, pre-approval is a crucial part of the process you definitely don’t want to skip. So, before you start picturing yourself in your new living room or dining on your future all-season patio, be sure you’re working with a trusted lender to prioritize this essential step. Here’s why. While home price growth...

Thinking About Buying a Home? Ask Yourself These Questions

First Time Home Buyers

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Posted on 01/03/2024

If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market. And you’re getting your information from a variety of channels: the news, social media, conversations with friends and loved ones, the list goes on and on. Most likely, home prices and mortgage rates are coming up a lot....