The Drop in Mortgage Rates Brings Good News for Homebuyers

Written by Ormond by the Sea Mortgage Syndicated User on July 12, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Ormond by the Sea Condo Financing, Ormond by the Sea Mortgage, Ormond by the Sea Mortgage Rates.

Over the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The drop happened over concerns about a potential recession. And since mortgage rates have risen dramatically this year, homebuyers across the country should see this decline as welcome news. Freddie Mac reports that the average 30-year rate was down to 5.30% from 5.81% two weeks prior (see graph below): But why is this recent dip such good news for homebuyers? As Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), explains: ...

Is Homeownership Still the American Dream?

Written by Ormond by the Sea Mortgage Syndicated User on July 6, 2022. Posted in First Time Home Buyers, For Buyers, Ormond by the Sea Condo Financing, Ormond by the Sea Mortgage, Ormond by the Sea Mortgage Rates.

Defining the American dream is personal, and no one individual will have the same definition as another. But the feelings it brings about – success, freedom, and a sense of prosperity – are universal. That’s why, for many people, homeownership remains a key part of the American dream. Your home is your stake in the community, a strong financial investment, and an achievement to be proud of. A recent survey from Bankrate asked respondents to rank achievements as indicators of financial success, and the responses prove that owning a home is still important to so many Americans today (see...

A Key Opportunity for Homebuyers

Written by Ormond by the Sea Mortgage Syndicated User on July 4, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Ormond by the Sea Condo Financing, Ormond by the Sea Mortgage, Ormond by the Sea Mortgage Rates.

There’s no denying the housing market has delivered a fair share of challenges to homebuyers over the past two years. Two of the biggest hurdles homebuyers faced during the pandemic were the limited number of homes for sale and the intensity and frequency of bidding wars. But those two things have reached a turning point. As you may have already heard, the number of homes for sale has increased this year, and even more so this spring. As Danielle Hale, Chief Economist for realtor.com, explains: “New listings–a measure of sellers putting homes up for sale–were up 6% above one year ago....

Real Estate Consistently Voted Best Investment [INFOGRAPHIC]

Written by Ormond by the Sea Mortgage Syndicated User on July 4, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Move-Up Buyers, Ormond by the Sea Condo Financing, Ormond by the Sea Mortgage, Ormond by the Sea Mortgage Rates.

Some Highlights Based on a recent Gallup poll, real estate has been rated the best long-term investment for nine years in a row. Owning real estate is more than just a place to call home. It’s also an investment in your future. That’s because it’s typically a stable and secure asset that can grow in value over time. If you’re ready to buy a home and invest in your future, let’s connect. Content previously posted on Keeping Current Matters

Things To Avoid After Applying for a Home Loan

Written by Ormond by the Sea Mortgage Syndicated User on July 4, 2022. Posted in First Time Home Buyers, For Buyers, Move-Up Buyers, Ormond by the Sea Condo Financing, Ormond by the Sea Mortgage, Ormond by the Sea Mortgage Rates.

Once you’ve applied for a mortgage to buy a home, there are some key things to keep in mind. While it’s exciting to start thinking about moving in and decorating, be careful when it comes to making any big purchases. Here are a few things you may not realize you need to avoid after applying for your home loan. Don’t Deposit Large Sums of Cash Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. Don’t Make Any Large Purchases It’s not just...

Homeownership Is a Great Hedge Against the Impact of Rising Inflation

Written by Ormond by the Sea Mortgage Syndicated User on July 4, 2022. Posted in First Time Home Buyers, For Buyers, Ormond by the Sea Condo Financing, Ormond by the Sea Mortgage, Ormond by the Sea Mortgage Rates, Pricing.

If you’re following along with the news today, you’ve heard about rising inflation. Today, inflation is at a 40-year high. According to the National Association of Home Builders (NAHB): “Consumer prices accelerated again in May as shelter, energy and food prices continued to surge at the fastest pace in decades. This marked the third straight month for inflation above an 8% rate and was the largest year-over-year gain since December 1981.” With inflation rising, you’re likely feeling it impact your day-to-day life as prices go up for gas, groceries, and more. These climbing consumer...

Category: First Time Home Buyers