Data firm Black Knight reports home price growth in June dropped nearly two percentage points, the largest monthly slowdown since the early 1970s. June also saw the largest single-month inventory increase in 12 years. CoreLogic, another major data outfit, found price growth slowed for the second month in a row. They now forecast annual home price appreciation will drop to 4.3% by June 2023, in...
Today with interest rates raising, one wants to ensure their credit score is the best it can be. Your credit score, also known as your FICO Score, plays an important role when you apply for a mortgage. You can get a free credit report from each of the three credit bureaus once a year at AnnualCreditReport.com. This is the only source for free credit reports, and it’s authorized by federal law. It...
Have an extra room that's just taking up space? Put your creativity to work and transform it into the "play" place you've always wanted! Here are a few ideas: Rock Out. Let the rock-n-roll in you rip loose in a room designed to be your very own music studio. Bearing in mind that you’ll want to remain friends with your neighbors, a careful soundproofing plan is key. The door to the space will need...
By David Sparks/May 27, 2021 Generally speaking, the criteria come down to three basic areas: Restricted to first-time homebuyers Buyers must meet income levels Homebuyer education course required Of course, there may be other criteria, so it is always helpful to speak with a knowledgeable lending professional to get a complete picture of all applicable qualifying criteria. What is...
The housing market is shifting. Since the beginning of the year, mortgage rates have moved up. Home prices are still increasing just at a slower rate. These higher rates and prices have reduced the number of buyers, while sellers have more competition as more listings hit the market. In light of these developments, here are five things sellers need to know, according to real estate experts. There is a...
No one really knows if it is the RIGHT time to purchase a home but there are better times for one to purchase a home depending on their circumstances. Over the past year interest rates were at an all time low. This made it very inviting for homebuyers. Their interest rate was low making their payments low. But at the same time there were way fewer homes on the market making the process of getting...
What’s going on with home prices? The market is changing. Mortgage rates have risen sharply in the last few months, and the inventory or homes for sale is finally increasing in many markets across the country. Two things are apparent. First, home prices are continuing to rise. Second, sellers don’t have as much of an advantage as they’ve recently had and are needing to reduce their asking prices....
This information is coming from my lender at HomeTrust/Kelly Frey Housing Starts fell 14.4% in May, to a 1.549 million annual rate. The monthly decline was due to both single-family and multi-unit starts, and for the year, single-families are down 5.3%, multi-units down 3.3%. Builders are cautious about future demand thanks to rising mortgage rates--plus, projects in their pipelines are now at the...