Blogs & News

Bank CMG Announces Agreement to Acquire Farmers Savings Bank

This strategic move aims to bolster Bank CMG's market presence in Wisconsin and enhance its offerings.

Greenwoods State Bank Announces Name Change to Bank CMG, Expands Financial Solutions for Customers

Greenwoods State Bank, a trusted community bank serving Wisconsin families, businesses, and farms since 1893, today announced it will officially begin operating under the new name Bank CMG.

Christopher M. George to Acquire Greenwoods Financial Group, Inc. and Its Wholly Owned Subsidiary Greenwoods State Bank

Together, we will build on the strong foundation established by Greenwoods while continuing to invest in people.

HomeFundIt™: Turn Graduation Gifts into Homeownership

Looking forward to hanging up your new diploma? Why not showcase it on the walls of your new home? As you celebrate your educational milestones this season, you can also jumpstart your journey to homeownership through HomeFundIt™, our down payment gifting platform. Instead of cash and checks from relatives, you can funnel that goodwill towards your future home. Curious how that would work?

CMG Home Loans Announces New Hire of Sam Assael, Regional Vice President

San Diego, CA - CMG Home Loans, the retail arm of the well-capitalized and privately held mortgage lender, CMG Financial, is proud to announce the hire of Regional Vice President, Sam Assael (NMLS# 282106). With more than 20 years of experience spanning retail lending, origination, and wholesale mortgage banking, Assael brings a proven track record of driving production growth throughout California.

Housing in May 2026: Less Frenzy, More Building Opportunities

Despite recent rate spikes, the housing market has remained surprisingly resilient. Pending home sales data are still trending positive year over year, even amidst economic uncertainty and global conflicts. As the summer home buying season heats up, this environment may present golden advantages for building or purchasing new construction homes.

How Accessible Housing Supports Veterans, Families, and Future Homeowners

Accessibility has come a long way in the real estate industry. Whether it's ASL accommodations during the closing process or home loans that can finance mobility renovations, we're committed to providing a smooth home buying experience, no matter what. We're also highlighting our VA Loan options during the Memorial Week, honoring our Veteran home buyers while helping provide accessible homeownership to hard-working families.

Refinance, Simplified: Meet CMG Refi LITE

Incoming! A blazing new loan program has launched, just in time for the summer. Homeowners, throw on some sunglasses because CMG Refi LITE is gleaming with savings. Designed to reduce title-related expenses, you'll want to take advantage of this new way to refinance. And not only do we have CMG Refi LITE, but we offer a wide range of options to get ahead in a higher-rate economy.

CMG Home Loans Welcomes Ellen Schuler, Sales Manager

San Antonio, TX - CMG Home Loans, the retail arm of the well-capitalized and privately held mortgage lender, CMG Financial, is proud to announce the hire of Sales Manager, Ellen Schuler (NMLS# 409880). One of San Antonio's most respected mortgage professionals, Schuler brings more than 20 years of industry experience, a longstanding reputation for exceptional client service, and deep relationships throughout the Texas housing market.

Give Your Financial Wellness a Summer Glow-Up

Like a bad fringe in need of a trim, your finances may be overdue for a glow-up this summer. Your financial six-pack isn't just going to manifest itself! Below, we've tackled a few ways you can boost your personal finances during the frenzy of the summer buying season. With these helpful tips, your economic transformation is sure to catch the eye of sellers, agents, and lenders alike.

Non-QM Closed-End Second: Unlock Your Equity Without Refinancing

Here's a thought: what if you could utilize your equity WITHOUT refinancing? For self-employed earners (small business owners, real estate investors, etc.), we now offer two options through our Non-QM Closed-End Second programs: Non-QM Edge and Non-QM Advantage. Through them, borrowers can tap into their home equity with a standalone second lien and withdraw a one-time lump sum. This repayment provides a fixed interest rate, allowing homeowners predictability with their monthly payments.

CMG Home Loans Welcomes Rogers Lending Team

Ringgold, GA - CMG Home Loans, the retail arm of the well-capitalized and privately held mortgage lender, CMG Financial, announced today the addition of a new group: Rogers Lending Team. The team will be led by Hannah Rogers (NMLS ID# 1670130), a Georgia-based mortgage professional with nearly a decade of experience supporting home buyers through the financing process.

Financial Literacy Month: What Every Future Homeowner Should Know

Akin to the abundant rainfall this month, we're here to shower you with tips related to Financial Literacy Month. Much like March's National Credit Education Month, April is the time to take a gander at your finances and reflect on important financial wisdom. Financial literacy is more important now than ever, and for future homeowners, it's vital to build upon the four pillars of financial wellness: budgeting, saving, investing, and borrowing.

More Units, More Opportunity: Unpacking Fannie Mae’s ADU Changes

Homeowners, are you ready to unlock ADU potential? With Fannie Mae's recent updates, their new ADU financing rules are opening doors and handing keys to homeowners and investors alike. For those looking to bring in extra rental income or adding a space for family to live close by, you may want to take a peek at these changes and decide if an ADU is a worthwhile investment.

Will Your Condo Still Qualify? What Buyers, Sellers, and Agents Need to Know

If you work with condo buyers or sellers, there are some financing changes coming that are worth knowing about now. A few of these changes may actually make some condo deals easier. But overall, condo financing is going to depend a lot more on the project itself, not just the buyer. That is the part people need to understand early. A buyer can be well qualified and the deal may still run into trouble if the HOA budget is weak, reserves are low, insurance is not where it needs to be, or the project has maintenance issues.

From Earth Day to Every Day: How Homeowners Can Live Greener in 2026

Happy Earth Week to all you home buyers, homeowners, and sellers out there! With Earth Day on April 22 nd , this annual event provides an excellent opportunity to showcase all the ways that homeowners can go green, whether it's by investing in a compost bin, adding solar panels to their home through a HomeStyle® Energy Loan, or simply installing a bird feeder. And depending on how you define homeownership, you could take today to go out in your neighborhood and pick up trash, donate to a little free library, or discover other ways to positively impact your community that benefits the environment.

Upgrade Your Summer: Use Your Equity to Buy a Vacation Home

Picture this: sunlight shimmering off of rolling waves, blanketed by blissful heat, sipping a mango lemonade as condensation drips onto the sand, utterly contented and flourishing in your beachfront paradise. Is this just a faraway fantasy or could this be your future vacation home? Worry not, homeowners, your equity might hold the key to this glittery future.

Celebrating National Moving Month: Tips for Buying, Moving, & Settling In

Seeing as May is National Moving Month, now is the perfect opportunity to share a helpful overview of the home buying process. A roadmap, if you will! First-time home buyers often find the entire experience daunting, especially if they're qualifying with nontraditional income and may need to provide more paperwork than a W2 borrower. Regardless of the loans you're using and the documentation needed, let's set you up with a clear picture of the mortgage process and drop some tips for your big move.

CMG Home Loans Welcomes The Gosser Group

Everett, WA - CMG Home Loans, the retail arm of the well-capitalized and privately held mortgage lender, CMG Financial, today announced the addition of a new team: The Gosser Group. The team will be led by Branch Manager Jason Gosser (NMLS ID# 120413), a western Washington native with nearly 30 years of experience helping home buyers achieve their homeownership goals.

What’s the Smartest Way to Use Seller Concessions?

A lot of buyers hear the term "seller concessions" and immediately think it just means the seller helping with closing costs. That's part of it, but when used correctly, concessions can become one of the smartest financial tools in a real estate transaction.

Bidding Wars & Broken Hearts: Real Estate Lessons from “Best Offer Wins”

We've all heard this story: a hopeful buyer gets their heart set on a perfect listing, puts in an offer, and…dozens of unbeatable all-cash offers flood in. In Marisa Kashino's debut novel "Best Offer Wins," a similar story of home buying woe ensues: Margo Miyake, an exhausted D.C. home buyer, has lost eleven bidding wars and goes to desperate lengths to secure the home of her dreams. Despite its hyperbolic nature, the book explores important themes about the modern housing crisis. In this day and age, how can a buyer remain resilient amidst heartless bidding wars?

CMG Home Loans Announces the Addition of Dwello Mortgage Advisors Powered by CMG Home Loans

Asheville, NC - CMG Home Loans, the retail arm of the well-capitalized and privately held mortgage lender, CMG Financial, announced today the opening of a new branch: Dwello Mortgage Advisors Powered by CMG Home Loans. The branch will be led by Kim Winters (NMLS ID# 643805), a respected industry leader with more than 20 years of experience in residential lending throughout North Carolina.

Your First Home Won’t Be Your Last

If you're a younger home buyer and stressing about finding your forever home, stop right there! Your first home probably won't be your last. But guess what? That's actually a good thing! Let's jump into the reasons why your first home is going to set you up for home buying success in the future.

The 12 Votes That Shape Your Interest Rate

Eight times a year, a group of people meets in Washington, D.C., behind closed doors and decides how expensive money is going to be. Not just for banks. For you. Your mortgage rate, your auto loan, your credit cards, even your savings accounts are influenced by what happens in that room. You won't see the debate or hear the arguments. Full transcripts aren't released for years, but the results show up in your rate quote quickly. That meeting is run by the Federal Open Market Committee, or FOMC. Understanding how it works makes headlines about interest rates much easier to interpret.

5 Scams Every New Homeowner Should Know About

As buying season starts ramping up, it's vital to educate both future and current homeowners about common scams and wire fraud tactics. It never hurts to be wary during the home buying process, especially when finances are involved. Con artists like to take advantage of unsuspecting buyers, likely overwhelmed by the required documentation it takes to finalize a mortgage. Don't fall for their schemes! By educating yourself about five of the biggest mortgage-related scams, you'll safeguard yourself from those who would steal from you.

Say Hello to MedPro Premier! 100% Financing for Medical Professionals

Doctors, are you ready to make a house call? No, not for a patient, but for your own home! For keeping our communities healthy, it's our turn to make homeownership easier. We now offer 100% financing for eligible medical professionals through MedPro Premier. Both Premier and MedPro Advantage offer financing up to $2 million, waive mortgage insurance, and allow for deferred student loan debt to be excluded from DTI calculations. Are you ready to make an appointment and schedule your mortgage diagnostic? Let's find out!

CMG Home Loans Welcomes Johnson Lending Powered by CMG Home Loans

Johnson City, TN - CMG Home Loans, the retail arm of the well-capitalized and privately held mortgage lender, CMG Financial, announced today the opening of a new branch: Johnson Lending Powered by CMG Home Loans. The branch will be led by Lucas Johnson (NMLS ID# 1569262), a rising leader in Tennessee's residential lending space with a decade of experience helping home buyers navigate the mortgage process.

National Credit Education Month: From Credit Score to Front Door

Have you heard? March is recognized as National Credit Education Month! It's the best time to dive into the nitty gritty details of credit, how it relates to buying a home, and what you can do to maximize your credit score's potential before taking on a mortgage loan. It's important to encourage credit literacy and responsible financial practices, not just this month but every other month of the year!

The Ultimate Spring Moving Checklist

Are you about to close on your new home? It's time to call the movers! And in the meantime, there's a plethora of other items you can attend to before your big day. Things like utilities, address changes, locks, and air filters all factor in. We hope our handy dandy list is helpful as you prep for your big day. Moving is stressful, and you deserve to know these tips & tricks to make the process go as efficiently and painlessly as possible. And don't forget, especially for those with finicky backs: lift with your legs!

The Trigger Lead “Free for All” Is Over

For a lot of people applying for a mortgage, one of the most frustrating parts used to happen right after the credit pull. The calls would start. Then the texts. Then the emails from lenders they had never heard of. It felt invasive and confusing. A lot of borrowers assumed their lender had sold their information. In most cases, that was not what happened. The issue was trigger leads, and for years they created a bad experience for homebuyers right when they were trying to make an important financial decision.

Anyone else confused by Consumer Confidence vs Consumer Sentiment?

You've probably seen Consumer Confidence and Consumer Sentiment both referenced lately. They sound interchangeable, but they aren't. That said, the gap between them explains a lot about what buyers are doing right now.

Winter Wonders & Warnings: Tips to Keep Your Home Safe and Your Family Cozy

Have you seen the forecast? The weather outside is frightful, and with all this ice and snow, it's certainly not delightful for your home! The phrase "Winter is coming" has never rung more true than this January. We've been slammed with countrywide snowstorms and freezing temperatures, forcing many homeowners to hunker down. Below, we're compiled some helpful tips to stay safe and warm during these winter storms and blizzards.

CMG Financial Honored as a Tech100 Mortgage Winner for 2026

SAN RAMON, CA — CMG Financial, one of the nation's leading privately held mortgage lenders, today announced it has been named a 2026 Tech100 Mortgage winner by HousingWire for the third consecutive year.

CMG Financial Executives Charlie Rogers and Tony Giglio Named to Mortgage Executive Magazine’s 2025 Most Influential Executives List

San Ramon, CA — February 5, 2026 — CMG Financial, one of the nation's leading privately held mortgage banking firms, announced today that Charlie Rogers, Executive Vice President and Head of Production, and Tony Giglio, Executive Vice President and Head of Retail Sales, have been named to Mortgage Executive Magazine's 2025 Most Influential Executives list.

How February Sets the Tone for Spring Home Buying

In the real estate market, February typically acts as the bridge between seasons: the winter slowdown and the spring buying boom. Now is the perfect time for buyers and sellers to finesse your financial strategies and figure out how to time the rhythm of the market. This is the best time to obtain a preapproval, find the right real estate agent, prep your property for tours, and for some savvy buyers, house hunt for a home before the busy, competitive spring season sets in with earnest.

Love Your Mortgage: A Financial Check-Up Before Spring

"Home is wherever I'm with you." - Edward Sharpe and the Magnetic Zeros The season of love is upon us! Chocolates, roses, cheesy cards, and fancy dates await. But why not give some love for your home, a place of cherished memories and stability? If you need to tweak your home loan to adapt to your changing lifestyle, now's the time to look into your options.

CMG Home Loans Announces New Hire of Michael Curtin, Area Sales Manager

Chicago, IL - CMG Home Loans, the retail division of well-capitalized privately held mortgage lender, CMG Financial, is pleased to announce the appointment of Area Sales Manager, Michael Curtin, NMLS# 389517. Bringing nearly two decades of experience in loan origination and mortgage management, Curtin will support sales growth and team development across CMG's Midwest footprint.

The Gift That Lasts: How to Make a Holiday Impact with HomeFundIt"

Tired of receiving gifts that go unused every year? You might be interested in an alternative gifting method this holiday season. Instead of physical presents, why not receive the gift of homeownership? Through our down payment gifting platform HomeFundIt™, your friends and family can help you take one step closer to becoming a homeowner in the new year.

The Real Cost of Waiting to Buy a Home

Why Waiting Feels Safe, but Rarely Is For a lot of potential home buyers, waiting feels like the right move.  Prices feel high.  Rates feel uncertain.  Headlines don’t help.  So the instinct is to sit tight and wait for things to improve.

Real Estate Life Lessons from "White Christmas"

A timeless classic of the holiday season, “White Christmas” dropped in 1954, starring Bing Crosby, Danny Kaye, Rosemary Clooney, and Vera-Ellen. It was the top grossing film that year, and its iconic songs have permeated every winter of the last seven decades, with memorable melodies and important life lessons that resonate with families still to this day. As we near the holidays and close out the year, we want to explore how the life lessons in “White Christmas” can apply to the lives of home buyers and homeowners alike.

The Perks of Home Buying in the Winter Season

When most people think of the best season to buy a home, summer comes to mind. Likely, there’s an understandable reluctance to moving when there’s snow on the ground. However, is it not worse to move in 80-90 degree heat, with the sun beating down relentlessly while moving heavy boxes and furniture? In the colder season, moving will keep you warm, and you likely won’t be affected by the cold as much as you’d think. There’s also less competition to contend with and more time to work with your agent. And best of all, your negotiation power has much more weight in the winter. Still not convinced? Let’s walk through some of the perks of home buying this winter.

From 2025 to 2026: 5 Real Estate Takeaways for the New Year

January is a time of perspective, a great time for reflecting. Whether it’s for personal or professional goals, many of us ask the same question: what worked and what didn’t work last year? If you’re a prospective homeowner, it’s helpful to ask the same question with the housing industry. You’ll want to know when to seriously dive into the market, how to time any potential rate drops, and begin strategizing your 2026 game plan.

Mortgage Terminology 101: What Every Home Buyer Should Know

Like any field or industry, a boatload of terms goes hand-in-hand with the mortgage world. For home buyers, it can be an overwhelming process, with unfamiliar terms being flung at you left and right. But just because it can be a lot at once doesn’t mean it has to be. We’ve compiled some of the most commonly used words and phrases that are pertinent to the home buying process. We hope this helps set you up for success as your home loan gets closer to the finish line!

Is the Market Really That Bad? Debunking the Fear Based Headlines

Is the Market Really That Bad? Debunking the Fear Based Headlines You’ve probably seen the headlines: “Housing affordability is the worst in decades” “Rates are squeezing buyers out” “Is the housing market headed for a correction?” It’s easy to feel like buying a home right now is a terrible idea. Real estate headlines are usually written to scare you, not to help you make smart decisions.

How Smart Home Features Are Shaping Buyer Decisions in 2026

Smart home enhancements have steadily grown in popularity throughout the years. From smart locks to Roomba® vacuums, living spaces are beginning to look closer to the homes portrayed in futuristic films like “Blade Runner” and “Back to the Future.” We might not have as many neon lights or flying cars, but homeowners have invested in more subtle tech upgrades over time.

Why This Market Still Works (For the Right Buyer)

Plenty of people are still buying homes right now, and here’s why: Buyers can actually negotiate again Sellers are offering rate buydowns, closing cost help, or credits Buyers can refinance later if rates drop Rent is still climbing, and owning locks in your monthly payment Long term wealth is still built through ownership, not by waiting for perfect timing If you’re in it for the long haul, this market can absolutely work in your favor.

Winter Wonders & Warnings: Tips to Keep Your Home Safe and Your Family Cozy

Have you seen the forecast? The weather outside is frightful, and with all this ice and snow, it’s certainly not delightful for your home! The phrase “Winter is coming” has never rung more true than this January. We’ve been slammed with countrywide snowstorms and freezing temperatures, forcing many homeowners to hunker down. Below, we’re compiled some helpful tips to stay safe and warm during these winter storms and blizzards.

Buydowns vs. Price Reductions: Which Saves Buyers More?

In the current housing market, savvy home buyers are saving money in clever ways, such as temporary buydowns and price reductions. However, what if there was a third option that could help you save even more money down the line? Let’s examine the pros and cons of buydowns and price reductions in comparison to our innovative program, List & Lock™.

National Preparedness Month: Safeguard Your Home, Build Your Fund

September is National Preparedness Month, which has been observed since 2004 to encourage Americans to prepare for emergencies. It’s an important month for homeowners specifically; we want to spread awareness about disaster preparation and on setting yourself up with a family emergency plan. Below, we’ve provided some tips to better prepare yourself should the worst happen.

Market Update: Job Market Weakens; Rates Plummet to Lowest Levels in 11 Months. Here's What it Means for You

As Summer draws to a close, mortgage rates are beginning to feel the chill of Fall. Rates kicked off September by dropping to the lowest levels in nearly a year. The cause? Employment data is showing significant signs of a weakening job market, which typically signifies an economic slowdown. A bad economy coincides with a stronger bond market which leads to lower mortgage rates. So as the weather and the economy continue cooling down, mortgage rates offer the silver lining of hope for homeowners and home buyers alike.

Fall Starts Here: Your Essential September Home Checklist

Do you feel that? That crisp chill in the air is signaling the start of fall! With every season comes a change in homeownership responsibilities. However, this seasonal shift doesn’t have to entail just home maintenance. Autumn is a great time to dive into fall-themed design trends, anything to get hyped up for the coziest season of pumpkins, flannels, and colorful leaves. The fall frenzy is about to begin, and we want to make sure you’re ready to dive right into the flannel festivities!

Market Update: Fed Cuts Interest Rates as Labor Market Weakens

The long-awaited September Federal Open Market Committee (FOMC) meeting took place yesterday and today. As expected, the Committee voted to cut interest rates by a quarter of a percentage point (0.25%), bringing the benchmark rate to a range of 4% to 4.25%. While majority of the Committee voted for this reduction, two members voted to bring the benchmark rate even lower. What does this mean for mortgage rates? Let’s explore.

Starter Homes: The Rising Star in Today's Housing Market

Despite some lulls in recent years, starter homes are beginning to see an uptick with inventory lately due to builders creating more entry-level homes. The hope is that this will inject some much-needed energy into the housing market and attract first-time buyers off of the sidelines. In addition, we’ll be unpacking the conventional definition of starter homes and examining the pros of buying old versus new. Ready to learn how starter homes are about to take the spotlight this season?

There and Back Again: The Charm of Hobbitcore Living

Are you ready to go on an adventure? In honor of National Hobbit Day on September 22nd, we’re diving into the cozy home design styles of hobbitcore and cottagecore. We want to celebrate the themes of warmth, community, and contentment and explore the ways that you can incorporate those aesthetics into your home!

Balancing Family Goals and Homeownership Dreams in Today's Market

Housing prices are influencing how people think about family size, timing, and lifestyle choices. The American Dream of owning a home is intrinsically tied to the idea of family, and it’s affecting parents deciding between having one more child or buying a bigger home. Let’s examine the affordability factors at play with the modern family and establish how homeowners can still get ahead with smart planning and support from us, their reliable lender.

The Season of Opportunity: Why This Fall Could Be a Turning Point for Buyers

Tired of playing the waiting game? The signs of change have already begun, like a cold wind heralding the advent of autumn and shorter days. As we move into the final quarter of 2025, it may be time to evaluate the cost of waiting and ditch the idea that a perfect home with perfect market conditions exists. Buckle up with some hot spiced cider and a warm flannel. Shall we dive in?

Fall Into Comfort: 5 Ways to Cozy Up Your Home

A hush in the air, a trickle of rain urging the comfort of blankets and piping hot cider, the crunching of leaves as you set up a crackling bonfire for marshmallows — all indications that fall is upon us and continuing in earnest! And with the spooky season comes creative ways you can decorate your home to further envelop yourself within the embrace of autumn, whether you want to make subtle alterations to your home with pumpkins or take advantage of larger renovations like adding a fireplace or completely redoing your backyard area. Here are five easy ways to transition your decor for the cozy months ahead:

Haunted By Repairs? How to Finance Your Fixer-Upper

Did you know? In Bram Stoker’s Dracula, the Count decides to ditch his crumbling castle and hires a solicitor to help him buy a run-down London mansion. See, even vampires know that a good fixer-upper can hide incredible potential! And here’s the good news. With renovation loans like Fannie Mae’s HomeStyle® Renovation Loan, you can finance both the purchase and the upgrades with one convenient mortgage.

Market Update: Mortgage Rates Get Spooked by Haunting Words

Do you feel that? The chill in the air? Just when mortgage rates were trending around their lowest levels of the year, something made them jump. Now, they’re trending higher, with a classic time warp erasing the gains they had made earlier this week. The culprit? Not a masked monster, but a familiar face…read more to see who’s the source of the spooks.

5 Tips on Budgeting for Your First House

One of the most important questions that any burgeoning home buyer can ask is: how much can I actually afford? Once you find the answer, you’ll be well on your way to buying your first home! Next step: create a practical budgeting plan to help you set aside the funds you’ll need to buy a home. Don’t know where to start? We’ve got you covered. Here are five simple steps to help you create the perfect home buying budget.

Get Ahead of the Holidays: Tap Your Home Equity Early

The holidays are full of excitement, but they can also bring financial stress. With Thanksgiving, Black Friday, and Christmas approaching, winter expenses can add up quickly, and high-interest debt (like credit card bills) can linger well into the new year. Whether you want to purchase a home or use your home equity to ease expenses, we can help you make this season full of joy. Why don’t we take a gander at the ways that you can make the holidays work for you?

How a Quick Mortgage Review Can Free Up Real Money Each Month

Why a Mortgage Review Matters Right Now A lot of people worry about the cost of groceries or gas but never look at the one bill that actually moves the needle… their mortgage. Spending a few minutes on a mortgage review can create more financial relief than any budgeting trick out there. With rates coming down, home values climbing and debt rising for a lot of families, this is a simple way to make sure you’re in the best place for your overall financial picture.

5 Advantages to Buying a Home Before the End of the Year

As the end of the year drifts ever closer, a window of opportunity awaits hopeful home buyers. Like the gleam of the North Star on a winter’s night, the dream of homeownership winks invitingly from the threshold of your future home. It’s true that the final quarter of the year can offer numerous dividends to a winter home buyer than an eager summer house hunter. Below you are five possible advantages for buying a home in the final stretch of the year.

Market Update: Fed Cuts Rates Again as Policymakers Split on 2026

The Federal Open Market Committee (FOMC) wrapped up its last meeting of the year today, and the big headline is straightforward: the Fed cut its benchmark interest rate by 0.25%. That moves the federal funds rate to roughly 3.50%–3.75%, marking the third cut of 2025. The cut itself was widely expected. What matters more is why they did it, how divided they were, and what that signals for mortgage rates and housing going into next year.

Say "I Do" to Homeownership Help

Wedding season is upon us! Are you engaged and planning your upcoming nuptials? Have you been thinking about what to put on your wedding registry? Like many couples, you might already have furniture, kitchen utensils, bedsheets, towels, etc. However, have you considered this: a home to call your own? Through our unique down payment gifting platform HomeFundIt™, you can ditch the registry and invite your wedding guests to help you fund your dream home.

Keys & Degrees: Buying a Home While Paying Student Loans

Worried about taking on a mortgage while still paying off student loans? Don’t worry, those with degrees can still get house keys! In fact, if you’ve been responsibly paying your student loans month to month, you’ve potentially boosted your creditworthiness over time. Between helpful tips for loan approval and affordable mortgage options, we’re here to set you up for success, student loans or not!

Tides Are Turning in Favor of Buyers. Here's How to Prepare

For the first time in years, the U.S. housing market may be giving buyers the upper hand. According to a recent Redfin report, there are now 500,000 more homes for sale than there are buyers actively shopping—marking a significant shift from the red-hot, seller-dominated days of 2021–2022.

Reach Your Summer Renovation Goals With a Home Equity Line of Credit

With summer in full swing, the daylight hours have lengthened. The sun is blazing, illuminating every front patio and back porch. Proud homeowners are rejoicing, excited to show off their flourishing gardens and ready break out the pool gear. However, has the extended sunlight revealed that your home needs a little TLC? Do the windows need some repairs? Is your patio in disarray and in dire need of an upgrade? Financing home renovation projects can be tricky, with just minor home improvements taking a sizeable bite out of your savings. Here’s a thought: have you considered tapping into your home equity to help fund your summer renovation goals?

10 Questions to Ask Before Working With a Real Estate Agent

When buying a home, choosing a real estate agent is paramount to a smooth, stress-free loan process. The right agent isn’t just someone setting you up for open houses and sending you listings — they’re your navigator through the often-tumultuous ocean of real estate. They should help set expectations for the process, acting as an advisor as well as an advocate who will go to bat for you if, for example, you’re contending with a particularly obstinate seller. It’s highly recommended you interview at least three potential agents before you make your final decision. Here are a few questions to help you narrow down your decision!

How to Declare Independence from Your Landlord in 2025

Renters, are you tired of your lack of independence? Tired of getting ghosted by your landlord when you have an urgent issue, like a leaking ceiling or broken AC? If you’ve had enough, it’s time to declare your independence from your landlord and pave your own way toward building your own equity. With fireworks flooding our night skies this holiday, it’s time to celebrate the 4th of July by diving into the freedom of homeownership — you’ve earned it!

The New Build Boom: Why Buyers Are Shifting Towards New Construction

Buying old versus new, especially if you’re a first-time buyer, seems to have an automatic choice: older homes are likelier to be more affordable than brand new properties with fancy appliances. Does that long-held belief still hold true though? Due to recent trends, the pricing gap between existing homes and new construction has narrowed considerably. Let’s dive into this new build boom and the rising popularity of new construction, tackling how home buyers can benefit from these trends.

Summer Snapshot: The Latest on Housing Trends & Rates in 2025

Now that the summer is in full swing and we’ve hit our mid-year stride, why don’t we check in with the latest housing trends and see what’s sizzling on the market. With stubborn, unbudging rates and fickle home buyers, the year thus far has been a tumultuous one for the housing and real estate industry. Can we glean any useful insights from the first six months to predict any changes for the second half of 2025? Let’s get into it.

First-Time Homeowner Tips: What to Do After You Move In

If you’ve just purchased your first home, congratulations! You’ve signed the closing papers, you’ve moved all your boxes and furniture inside, you’ve got your keys, and maybe you’ve already been living there for a few months. But…now what? Perhaps you’re wondering what a first-time homeowner needs to know after they’ve moved in. Maybe you’re worried about taking care of your home without a landlord and their maintenance crew helping out. If you live in an area that experiences all four seasons, how can you properly maintain your home throughout the year? Well, never fear! We’re here with tips and tricks to help you obtain your sea legs as a savvy homeowner.

3 Unexpected Advantages for Today's Home Buyers

With the current fickle market, it’s natural for home buyers to feel hesitant right now. Interest rates aren’t providing much wiggle room, so the uncertainty is giving everyone pause. We get it! However, we’re here to challenge the question: “Should I wait this one out?”

Market Update: Mortgage Rates Slide to 10-Month Lows

Big news for mortgage rates! Over the past couple of months, they were relatively unchanged. But over the past week, they’ve been on the sharpest downward trend since April, bringing them to the lowest levels since October 2024. Could this be the shift we’ve been waiting for? Will rates continue their descent? Why are they trending lower? Let’s talk about it.

The Jumbo Loan Advantage: Think Bigger, Borrow Smarter

The saying is “go big or go home,” right? But wouldn’t you like to go big AND go home? With the help of a Jumbo Loan, you can do just that! If you’re a home buyer looking to either finance a more expensive property or you live in a high-cost area, we offer a suite of Jumbo Loan programs tailored to your specific needs and situation, including the brand new Elite Jumbo!

Market Update: Rates Drop to Fresh 10-Month Lows; Refinance Demand Surges to 2-Year Highs

Your Friday Market Update is here! A lot happened this week, so we’re back at it again to catch you up and keep you in the loop about all things mortgage. Let’s dive in.

Make Your Mortgage Work Smarter with the All In One LoanTM

Let’s Start with 2  Key Questions Question 1:  Where does your paycheck go? If you’re like most of us, it goes to checking, then starts making its way out to cover routine spending and monthly obligations including your mortgage. Ideally, there’s a little left over to go towards Savings. This is normal in most households, but in most households the mortgage is the biggest expense. On top of that most people’s Checking account is just a “staging area”. It holds your income for a period of time until bills and expenses are ready to be paid. Question 2: What if that same Checking account could help you potentially pay off your mortgage faster without changing how you live?   That’s the idea behind the All In One Loan!

Back to Basics: Homeownership 101

School is back in session and so is homeownership! We have multiple home loan options and products tailored for students and recent grads. Are you a med school grad? Great! We have something for you! Worried about getting a mortgage with student loans? Don’t worry, we have something for that too! Even if you’re a parent looking for ways to help fund your college-aged kid’s education, we have options for you too. It’s time to go back to basics and step into Homeownership 101. Get ready to take notes!

Market Update: Rates Trend Lower at a Steep Pace, Hovering Around 4-Month Lows

It’s been a good couple of weeks for mortgage rates. The bond market (which dictates rate trends) is on a six-week gain streak. Read more about what’s been going on in the market (and what’s to come the next week).

How to Effectively Budget for Your First Home

Buying a home is an important decision, one of the biggest an adult can make. Everyone deserves a roof over their head, a happy house to come home to after a long day at work. We’re here to provide some handy tips and tricks for budgeting for your new mortgage, especially if you’re a first-time buyer. Every hopeful homeowner has to start somewhere, so why don’t we dive into some easy strategies, step-by-step, to get you started?

Why More Home Buyers Are Choosing Government-Backed Financing

More and more lately, home seekers are turning to government-backed loans for their home financing. According to HousingWire, FHA Loans accounted for 24% of primary home purchases in 2024, with VA Loans making up 10%. These types of loans have lower down payment qualifications — in some cases, 0% down — so it’s not surprising that future homeowners are taking advantage of these programs. Below, we’ll go over the type of government loans that we offer, created to offer affordable homeownership options for hopeful buyers.

Market Update: Inflation Lower Despite Egg Prices, Job Market Hinting at Weakness, and Mortgage Application Activity Jumps

This morning, we got news about inflation and mortgage application submissions. Inflation on the consumer price index (CPI) came in below expectations in February while mortgage application submissions continued to surge.

Building Your Future: The Top Home Loans for Small Business Owners

Are you a small business owner? Worried about taking on a mortgage as a self-employed borrower? Don’t be! There are a number of home loans oriented towards entrepreneurs like yourself. We have alternative solutions for those whose tax returns don’t adequately reflect their income. Even if you don’t run your own business but you’re looking for more self-employed loan options, you’ll find this information helpful.

Your Home Offer Has Been Accepted. Now What?

It’s official…your home hunt is finally over! Now that your offer has been accepted and you’re under contract, you might think your job is finished. But there’s still more to come. Are you ready? We’re here to help manage your expectations for your closing and lay out your next steps.

Market Update: Rates Inch Higher Following Tariff Insights; Home Prices Cool

Mortgage rates had been on a nice downward trend until this past weekend. Following an announcement regarding reciprocal tariffs coming out April 2, rates trended higher. In other housing news, home values continued to show strength while new home prices cooled. Let’s dive into the insights below.

Your Mortgage Closing: What to Expect and How to Prepare

Your offer has been accepted, you’ve sent your earnest money in, and you’ve started working with your trusty mortgage team. Their goal is to get your loan through underwriting and fully approved for your closing. However, you’ve heard a lot of financial terms bandied about, and you’re feeling a little overwhelmed by all the “mortgagese” thrown around in this industry. Ready for an overview of your loan closing process to help clear things up? Let’s jump right into it!

From Renters to Homeowners: What You Won't Miss About Renting

Dealing with unresponsive landlords? Running out of patience when your ceiling is leaking and the maintenance office isn’t returning your calls? For any multitude of reasons, you may finally be on your last straw as a renter. Is it time to ditch the landlords and claim the keys to your own kingdom? Below is a refresher on all the frustrations that could pop up in a rental unit, taken from a myriad of rental stories and anecdotes.

6 Methods for Funding Your Home Purchase

Contemplating homeownership but running into affordability barriers? If you’re looking for supplemental ways to fund your future home purchase, we have a few suggestions. We’re here to help enhance the typical methods of mortgage financing. Down payment assistance programs, family gifts, employee benefits, and more could hold the key to your future as a homeowner. Ready to embark on your next great adventure?

Market Update: Rates Trending Higher Amid Tariff Updates

A LOT has happened between the end of last week and the end of this week. While last week ended with rates trending at the lowest levels in six months, this week is a completely different story. Starting Monday, rates took a sharp trend higher. Right now, they’re hovering around the highest levels since February. So what happened to make them move?

How Your Starter Home Can Help You Purchase Your Dream Home

Does your dream home seem like a faraway vision, those 4 bedrooms, 3 baths, and white picket fences flickering like a mirage in the distant setting sun? Instead of wiling away the next few years, skimping and saving while paying for someone else’s mortgage, why don’t you buy a more affordable starter home now? You can use the equity you build to pay for the down payment on your dream home in 2-5 years. This is a strategy that many savvy first-time home buyers use when encountering affordability barriers. We encourage you to tackle homeownership with efficiency and want to ditch this misconception that homeownership has to be this impossible dream and that you’re stuck living as a renter for a decade or longer!

6 Creative Ways to Boost Your Down Payment

The down payment, so-called the largest hurdle of homeownership, is typically one of the most sizeable investments someone can make in their lifetime, right alongside weddings, retirements, and college expenses. With numerous down payment assistance programs and affordable housing opportunities available, the idea that a potential homeowner has to drop 20% down on their future home is fading, with low-to-no down payment programs becoming more and more prevalent. With that being said, what ways can we share with you that may help bolster your down payment and get you to the homeownership finish line sooner?

Spring into Action: 5 Ways to Enhance Your Curb Appeal This Season

The summer season is right around the corner, with patio parties and sizzling grill-outs on the horizon. Homeowners, it’s time to step up your curb appeal and turn your home’s exterior into the envy of every neighbor! Let’s dive into five ways you can boost your outdoor space.

Market Update: Rates Unchanged Over Past Month; Trade Deals Could Change Things

Over the past month, mortgage rates have more or less been trending around the same levels. There have been little ebbs and flows here and there with different economic data releases, but for the most part, they have been steadily trending just under 7%. However, things could change over the weekend with the upcoming meeting with China.

From Scroll to Sold: Gen Z's Digital Approach to Homeownership

Stop the presses! Gen Z has finally entered the realm of real estate and homeownership. With this younger generation — born between 1997 and 2012 — comes digital enhancements to the ways of buying and selling homes. Time to take a deep dive into these Gen Z home buying trends!

The Importance of an Emergency Fund When Planning on Buying a Home

If you’re looking to buy a home, do you have an emergency fund? And if you’re like many prospective first-time home buyers, this question may have sent a chill of anxiety down your spine. You’re not alone. This is a big financial regret for Gen Zers and Millennials; according to CNBC, “not saving enough for emergencies ranks at the top of their lists.” But don’t worry! We’re here to provide you with helpful information about emergency funds and calm any homeowning anxieties you may have, ensuring that your homeownership journey is a successful one.

What the Rising Age of First-Time Home Buyers Means for the Real Estate Market

According to the National Association of Realtors’ 2024 Profile of Home Buyers and Sellers report, the average age of first-time home buyers has reached 38 years old, a jump from the year prior (35 last year). Let’s decode some of the reasons the median age has jumped up and how this statistic affects the current state of the real estate market.

Mortgage Rate Projections: Two Paths Forward or Uncharted Territory?

By Contributing Author Anthony Grasst, VP National Builder Division Mortgage rates have been a big topic lately, and it’s no wonder why. One of the most common questions I hear is, “When will mortgage rates come down?” Rates are important, but they’re just one piece of the affordability puzzle. Buyers are also struggling with high home prices and tighter cash flow caused by inflation. These factors together are squeezing affordability, and buyers are eager for solutions. It’s the kind of question that directly impacts how you approach buyers in today’s market. I usually answer this question by offering two potential paths. Here are two paths forward based on a recent economic forecast from FHN Financial.

2025 Housing Trends: How to Financially Prepare for the Market Shifts Ahead

Now that 2025 is nearly upon us, it’s time to take a look at predictions for the next year, especially concerning the housing market and how it affects buyers. We’d also like to share some financial tips on how best to prepare for potential market shifts on the horizon. We want to help set you up for home buying success in the new year!

Real Estate Lessons From It's a Wonderful Life

Considered one of the greatest films of all time and certainly amongst the best holiday movies, It’s a Wonderful Life released in 1946 and despite nearing its 80th anniversary, its themes of family and friendship have resounded powerfully throughout each ensuing decade. The film is especially relevant to today’s housing market; much of the movie’s plot revolves around affordable homes, ditching landlords like Mr. Potter, and in George and Mary Bailey’s case, taking on a fixer-upper home. The real estate market has fluctuated plenty since Frank Capra’s beloved picture dropped in theaters, but the dream of homeownership is ever-present in the film, one that George Bailey believes everyone deserves, regardless of their situation.

Why Some Home Financing Incentives Fail to Deliver Results

By Contributing Author Anthony Grasst, VP National Builder Division Affordability is the number one challenge in today’s housing market, and builders everywhere are searching for solutions to engage hesitant buyers. Mortgage rates and financing incentives are widely recognized as the answer, but why aren’t they driving sales as they should? As someone who works closely with builders and sales teams across the country, I often hear this frustration: “I’ve tried financing incentives, but they didn’t work.” These challenges aren’t insurmountable, but they often come down to four critical issues:

Exploring Space Efficiency in New Construction Homes

According to a new report from Realtor.com, the number of bedrooms in homes has reached a new high. This is a notable statistic since the number of people in any given household has declined over the past 40 years, meaning that American homeowners are dealing with an excess of space. The boom in housing space (bedrooms specifically) began decades ago, when “McMansions” started cropping up everywhere. CNBC reported that the Census data quoted just 7 million extra bedrooms in 1980; today, it’s reached 31.9 million! How should this impact the future of new construction homes going forward? Let’s explore space efficiency in new homes, specifically examining sensible designs over the excessive, wasteful constructions from the last few decades.

Market Update: Rates Trending Higher but There Are Small Glimmers of Hope

There have been a lot of changes in the market since our last update, so here’s the lowdown…

The Perks of Home Buying in the Winter Season

When most people think of the best season to buy a home, summer comes to mind. Likely, there’s an understandable reluctance to moving when there’s snow on the ground. However, is it not worse to move in 80-90 degree heat, with the sun beating down relentlessly while moving heavy boxes and furniture? In the colder season, moving will keep you warm, and you likely won’t be affected by the cold as much as you’d think. There’s also less competition to contend with and more time to work with your agent. And best of all, your negotiation power has much more weight in the winter. Still not convinced? Let’s walk through some of the perks of home buying this winter.

Use Your Tax Refund Toward Home Buying Costs

Tax season is right around the corner! If you’re expecting a sizeable tax refund on the horizon and want to invest in your homeownership future, here’s something you might not have considered: using your tax refund to buy your home. You’d be surprised at the ways you can utilize your tax refund for home buying success, so let’s tackle a few of those options right now.

Market Update: Rates Remain Quiet Amid Administration Changes; Existing Sales Rise to 10-Month High

It was a big week for more than just mortgage rates. Monday marked the beginning of a new four-year presidential term, and with it, a new administration. Immediately following the president’s inauguration, he began pushing out an onslaught of executive orders. One in particular caught the attention of the housing industry: “Delivering Emergency Price Relief for American Families and Defeating the Cost-of-Living Crisis.”

Buyer's Market vs. Seller's Market: What You Need to Know

There are two real estate terms that get thrown around in this industry: a buyer’s market and a seller’s market. What differentiates these two markets? And how can you, either as a potential homeowner or seller, use this real estate knowledge to your advantage? Supply and demand is the bread and butter of this industry, the keys to understanding the nuances of the mortgage world, and the secrets to becoming a savvy borrower in the future.

From Tenant to Owner: How to Buy the Home You Rent

Love the home you’re renting? Well, you might want to consider broaching this topic with your landlord: are they willing to sell? With a little time and research, you could potentially convince them to let you buy the rental unit you’re currently living in. It’s worth a shot if you’re already living in an ideal home, despite it being someone else’s property.

Market Update: Mortgage Rates and Labor Market Hold Steady

Mortgage rates have been relatively unchanged over the past couple of weeks. This may come as a surprise with all of the executive orders and talk about tariffs, but we’ll get to that later. For now, rates are holding steady and trending at lower level than the same time last month.

January 2025 Month In Review

This Month’s Key Takeaways Buyers are payment-focused, not price-focused. According to a recent report from the Mortgage Bankers Association (MBA), mortgage affordability remains the top concern for buyers, with 78% citing monthly payments as their primary hesitation. Financing incentives must align with buyer needs. A National Association of Realtors (NAR) survey found that 62% of first-time buyers used some form of financial assistance to make homeownership viable in Q4 2024. Sales teams need better conversations about affordability. Data from Fannie Mae’s latest housing sentiment survey indicates that 81% of buyers believe it's a bad time to buy due to high costs, meaning the ability to communicate affordability solutions effectively is more critical than ever.

Love and Loans: How HomeFundIt" Supports Your Homeownership Dreams

Love is in the air this week! To celebrate couples, we wanted to highlight HomeFundIt™, our down payment gifting platform. Often, prospective home buyers have used this program as a wedding registry, raising funds from their friends and family on their big day. Moving into a new home is one of the biggest steps for a couple, so we’re here to provide a program that can both boost your love story as well as your homeownership dreams.

Leveraging List & Lock": A Smart Move for Buyers and Sellers

Been struggling with seller negotiations? Or are you stuck with a listing that just won’t sell? Don’t drop the price just yet — we may have the solution for you. List & Lock™ can help eliminate one of the biggest hurdles a buyer struggles with: the rate! Through this program, sellers can advertise discounted rates without lowering the listing price, a win-win for agents, buyers, and sellers alike.* Let’s tackle some of the benefits below.

The Importance of a Real Estate Agent in Today's Market

A staple of the mortgage industry is the need for a REALTOR® during your home buying (or selling!) process. Many potential homeowners are questioning whether utilizing a real estate agent is even needed these days, believing they can just save the money and do the legwork themselves. Fortunately, there are still a multitude of reasons to work with a REALTOR® — why don’t we tackle a few of them?

Market Update: Fed Chair Jerome Powell Says it's Time to Start Cutting Rates

The time has come! Today marks the second-to-last day of the Jackson Hole Symposium, which is a big central banking conference that takes place this time each year. This morning, Federal Reserve Chairman Jerome Powell took the stage for a highly anticipated speech about the current economic state and future Fed outlook. Though Powell is known for his elusive answers during press conferences, he had a straightforward message this morning: “The time has come for policy to adjust.” In other words, it’s time for rates cuts.

How to Spot and Avoid Real Estate Scams as a Home Buyer

Buying a home is probably one of the biggest financial investments you’ll make in your life, making you an appealing target for hackers and fraudsters. From wire fraud to email fraud to solicitation calls, there are several ways people might try to get your personal information and/or money. So in this blog, we’ll explore some of the most common real estate scams and how to avoid them.

Down Payment Costs Rise by 15% Annually: Here's How to Keep Yours Low

According to Redfin, home buyers are now putting down an average of $67,000, which marks a nearly 15% increase compared to a year ago. This put the typical home buyer’s down payment at a whopping 18.6% of the purchase price, the highest level in over ten years. With this recent surge, prospective homeowners, realtors, and lenders alike are all wondering what this means for the future. And how can we still succeed in the home buying market despite record highs?

How Pets Are Shaping Home Buying and Renovation Decisions

Pets are becoming a significant factor in home buying and renovation decisions. With over 66% of households including at least one pet, buyers are increasingly prioritizing pet-friendly features when choosing homes and making renovations.

Why Lower Interest Rates Won't Solve the Affordability Challenge for Home Buyers

Mortgage rates may have come down slightly, but affordability remains a significant challenge for home buyers, particularly as home prices continue to climb. Typically, rising rates cause home prices to cool, however the current market is anything but typical. The latest U.S. National Home Price Index from S&P CoreLogic and Case-Shiller shows that home prices reached record highs in June, despite rising interest rates.

Market Update: Fed Cuts Benchmark Interest Rate by 0.5%, Marking the First Reduction in Four Years

This afternoon, the Federal Open Market Committee (FOMC) voted to cut the benchmark interest rate by 0.5%. The cut comes as welcome relief to consumers after 2.5 years of rate increases.

How Falling Interest Rates Could Reignite the Housing Market

With mortgage rates tumbling to their lowest levels in recent times, priced-out potential home buyers may start to hope again. Due to the recent lower-trending rates, refinance applications jumped starting in August. Now, with the Fed beginning its long-awaited rate cuts, home buyers could be in luck in the coming months.

Fall Into Comfort: 5 Ways to Cozy Up Your Home

As the air turns crisp and leaves begin to fall, it's time to embrace the warmth of autumn at home. This season brings a unique opportunity to refresh your living space, making it a safe space for comfort and relaxation. Here are five easy ways to transition your decor for the cozy months ahead:

A Bountiful Autumn: What to Expect with Seasonal Mortgage Trends

The end of summer heralded a shift in the real estate market. The recent Fed rate cut announcement caused ripples throughout the industry, cutting the benchmark interest rate by 0.5%. Home buyers and real estate professionals alike have been celebrating as this announcement marked the first rate reduction in four years. After a languid summer and a dragging housing market, this economic shift has aligned perfectly with the changing season. Autumn has now been injected with buying energy, and potential home buyers may finally feel ready to leap off the sidelines into the golden leaves of homeowning.

Navigating the Challenges of Selling in a Shifting Market

In today’s real estate market, selling a home can feel like an uphill battle, especially when faced with fluctuating interest rates and a variety of buyer circumstances. Some sellers find themselves waiting months to secure an offer, while others are challenged by unpredictable bids and shifting buyer demand. As the market continues to change throughout the fall, here are some factors that could help sellers and some ways they can improve their listing’s success.

Is Now the Right Time to Refinance?

If you’re a homeowner, you’ve likely been paying attention to the news, waiting for any positive shifts in the housing market. And with the Fed’s recent benchmark rate drop, you’re probably wondering, is now the right time to refinance? Let’s help you figure out when a refi could make the most financial sense for you to pursue and when to hold off and evaluate your other options.

Homeowners Are Cashing In: Exploring the Recent Home Equity Boom

Recently, growing numbers of homeowners have been taking advantage of their home equity. Due to home values soaring, many are starting to understand the importance of dipping into the equity they’ve built up over the years.

Are Sellers Pulling Back? Examining Recent Inventory Challenges

Is it true that some sellers are throwing in the towel? Due to the rising mortgage rates of last year and this year, the percentage of price cuts for homes have risen. Along with the price-cut increase, listings are also receding, which has led to this surge of sellers calling it quits. Thankfully, there are loan programs out there that can benefit sellers and buyers alike.

Mortgage Rates Spike: Affordability Strains, But Opportunities Remain

Market Update: With rates now averaging 7.13%, buyers face higher costs while builders navigate an affordability crunch. Here’s how we can turn these challenges into sales opportunities. Mortgage rates increased to 7.13% after the election, a jump that highlights the financial pressures impacting buyers and builders alike. The recent rise in rates reflects broader economic trends, including inflation concerns and Treasury yield shifts, which have kept rates elevated. This high-rate environment is dampening buyer affordability and weighing on builders, with monthly payments on a $400,000 home now up 11% since early September.

What the Election Means for the Housing Market and Mortgage Rates

The upcoming administration turnover is raising a lot of questions and concerns about the future of the economy, housing industry, and mortgage rates. Though nothing is set in stone, there are some predictions about what could happen in coming years. Here are some of the major concerns and potential outcomes.

Cozy Up Your Home: 6 Trends for Winter 2024

A crackling fireplace, the whole family gathered cozily in the living room after a night of feasting, scattered wrapping paper blanketing your throw rugs and cream carpets: does this fit your vision of a perfect home for the holidays? With a few thoughtful touches, any room can be turned into a comforting space this winter. Let’s take a leisurely tour through some of the most inviting home trends this season, setting you and your family up for success when the cold sets in.

Breaking News! HUD Updated Gift Fund Guidelines to Add Increasing Flexibility on FHA Loans

The Department of Housing and Urban Development (HUD) recently updated its guidebook that spans over 1,800 pages. One of the updates brought welcome news for borrowers using an FHA Loan. With the new requirements, borrowers have additional flexibility surrounding any gift funds they might receive.

Millennials and Gen Zers Plan on Using Retirement Savings to Buy a Home, but Do They Know About These Alternatives?

Buying a home has become more and more expensive over the years. Between mortgage rates, home prices, and upfront costs, affordability remains a top issue for most buyers. One of the biggest hurdles for buyers – especially first-time buyers – is the down payment. Even though some loans allow for down payments as low as 1% to 3%., that’s still thousands of dollars. To finance the upfront costs, younger buyers are planning to tap into retirement savings. Though this could help them purchase a home in the short-term, it could end up hurting them in the long run.

Market Update: Rates Slide After Low Inflation Data

Yesterday brought some great news for those of us who enjoy lower-trending mortgage rates. Following the release of May’s inflation report, rates took a tumble. Later in the day, they inched up slightly following the Fed announcement, but the overall daily trend was still downward progress.

Introducing MedPro Advantage -- a Low Down Payment Program for Medical Professionals!

The cost of homeownership has become more and more costly in recent years – especially for those who might have preexisting student loan debt. Through our new MedPro Advantage program, we’re making it easier for doctors and other medical professionals to buy a home!

Glimmers of Hope for Home Buyers Arise as Inventory Inches Up

Higher-trending mortgage rates getting you down? Here’s something you can get excited about: according to Realtor.com, there are 35.3% more homes on the market than this time last year. Even more exciting news: there is a rising number of affordable homes hitting the market.

5 Tips on How to Financially Prepare for a Home Loan

Are you ready to purchase your first home, but overwhelmed with where to begin? The way to set yourself up for success for the home buying process is to consider preparing your finances and getting into the best financial shape possible before applying for a home loan. Let’s walk through some helpful tips to help the process go as smoothly and stress-free as possible.

Market Update: Rates Inch Higher but Could Reverse the Trend with Upcoming Jobs Data

Mortgage rates have inched higher in recent weeks after starting June out with a nice winning streak. However, with the upcoming jobs reports, they could trend lower once again. Aside from inflation, jobs reports are the most influential set of economic data when it comes to mortgage rate trends. Weaker job markets tend to correlate to lower rates, and vice versa.

Market Update: Rates Hit Four-Month Low Following Cool Inflation News

Three cheers for the consumer price index (CPI)! This morning, the CPI for June showed that inflation is going down. As a result, MBS prices are significantly stronger, which has resulted in lower mortgage rate movement for the day. In fact, the drop has brought the average 30-year fixed mortgage rate to the lowest level since March.

Market Update: Are Rate Cuts on the Horizon for the Fed?

This morning, we got news about the housing starts and building permits from June. Though both numbers were higher than expected, the increases are largely due to multifamily building. The more hopeful news of the week came from this morning’s comments from Fed members and yesterday’s National Association of Home Builders (NAHB) housing market sentiment index.

7 Popular Home Trends This Summer

The summer heatwave is rising, and so are these hot home décor trends! Whether it’s the Scandinavian and Japanese “Japandi-style” minimalist sensibilities, the “dark academia” reading rooms, or the growing popularity of dopamine design, there’s something for everyone in these home trends. Let’s walk through the seven trends taking the home design world by storm.

80 Years: The History and Impact of the VA Loan

The VA home loan was created through the G.I. Bill, also known as the Servicemen’s Readjustment Act of 1944. Signed into law by President Franklin D. Roosevelt on June 22nd, this legislation ensured an enduring legacy that continues to provide Veterans with vital resources, fostering a brighter future for generations to come. The VA Loan played a critical role in that development.

Addressing Affordability Challenges in Today's Housing Market: Effective Financing and Marketing Strategies for New Home Builders

By Contributing Author Anthony Grasst, VP National Builder Division Current Market Issues and Challenges The housing market is facing significant challenges. According to a recent survey by the Mortgage Bankers Association, many potential home buyers are waiting to purchase in hopes that interest rates will go down. The decision for many to wait is causing an overall drop in mortgage demand. This trend is exacerbated by rising home prices and high mortgage rates, both of which have contributed to a decrease in affordability and buyer hesitation.

Market Update: Rates Drop to Lowest Levels of the Year After Fed Announcement

We rounded out the last few days in July with a nice downward trend mortgage rates. Though we’re still waiting for some key employment reports to come out tomorrow, this week has been full of good news for rates and housing. Let’s dive in!

5 Strategies for Navigating a Low Affordability Housing Market

What are some of the biggest homeownership hurdles holding you back? Well, high interest rates and historically high home prices to start! It’s understandable to ask, “WHY are people buying now, and HOW are people affording homes?” Instead of holding off and continuing to wait for rates to drop, this may be the best time to buy, especially with the help of loan programs like Rate Rebound. According to MarketWatch, buying now is key—once the Fed finally starts cutting interest rates, the lack of home supply will remain, meaning that “high home prices today could soar.” Let’s tackle five strategies that can put you ahead of the game in this low affordability market.

Key Things Buyers Should Consider When Purchasing a Home

After years of saving bit by bit, chipping away at debt, and boosting your credit score in preparation for buying a home, you’ve finally gotten to a good place. It’s time to wave goodbye to landlords and purchase your new home! Where do you even begin? It’s such a big life decision, and you want to make sure you find a home that checks your most important boxes while avoiding money-draining surprises. To help you determine your future home with confidence and clarity, let’s look through home buying green and red flags.

Market Update: Refinance Applications Surge Following Rate Drop

Following last week’s downward trend in mortgage rates, the number of refinance application submissions surged 16% week-over-week. Compared to the same period last year, the Refinance Index was up 59%. Lower rates mean more people could benefit from refinancing their mortgage and saving on their monthly mortgage payment

Effective August 17th: Preparing for NAR's Upcoming Industry Changes

The National Association of REALTORS® (NAR) are implementing practice changes, effective on Saturday, August 17th. Some of these changes include updates to compensation offers, written agreements, and communications with communities and consumers. These updates will affect anyone involved with real estate, including home buyers and real estate professionals. With this deadline fast approaching, let’s take a look at these practice changes one by one and what to expect going forward.

Market Update: Builders Are Feeling Confident About the Housing Market

Mortgage rates trended higher last week thanks to a hotter-than-expected inflation report. But it’s a new week! And so far, we’re off to a strong start for housing news. This morning, the National Association of Home Builders (NAHB) released its housing market sentiment index for the month of March. It showed that builders think the housing market is in a much better place than it was this time last year.

How To Conquer Those First-Time Home Buying Struggles

Buying your first home is an exciting milestone, but it can also be overwhelming, especially in today's real estate market. With high mortgage rates, soaring home prices, and limited inventory, first-time home buyers face unique challenges. However, with the right strategies, you can navigate these hurdles and achieve your dream of homeownership. In this guide, we'll explore the challenges first-time buyers are facing, and the options available to overcome these obstacles.

Market Update: Rates Trend Lower After Fed's Rate Cut Predictions; Home Prices Reach New High

The Federal Open Market Committee (FOMC) voted to leave the benchmark interest rate untouched last week. Following the news, mortgage rates trended lower. Read why.

Home Features That Make Everyone Happy

Market Update: Rates Unchanged After a Slow Week; Jobs Reports Coming Up This Week

Mortgage rates were unchanged last week, marking one of the calmest weeks for rates in quite some time. Inflation levels on the PCE index were uninteresting as well, coming in as expected in February. Consumer spending came in hotter than expected while personal income slipped. This morning, we got news about job openings on the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) from February. Though they were expected to be at a level of 8,760,000, they came in at 8,756,000. Coming up this week we have more jobs reports which historically have a stronger influence on rate trends.

13 Essential Features That Are Must-Haves for New Home Buyers

Everyone has their own style and preferences, but there are a number of home features that pop up at the top of any home buyers’ checklist. Even new construction home builders will take note of the current trends and incorporate them into the house that they’re building so that it appeals to more buyers. So, what are these top home features?

Fannie and Freddie Address Buyer's Agent Commission Questions

Earlier today, Fannie Mae and Freddie Mac clarified questions about the payment of real estate agent commissions. These questions were brought up shortly after the nationwide settlement agreement proposed by the National Association of REALTORS® (NAR). The updates are largely aligned with the previous statement that the FHA published on March 28, 2024, which confirmed that there will be no changes to seller-paid buyer agent fees at this time.

Market Update: The Economy is Strong and Rates are Unhappy

April has been a month of great economic data. In most senses, this is good. But for mortgage rates, it’s not. A strong economy tends to have a negative impact on the bond market and consequently mortgage rates.

Looking for a Spanish-Speaking Lender? Here's How We Can Help

Applying for a mortgage can be daunting. Applying for a mortgage in your second language can be more than daunting! With an investment as big as a home, you don’t want to lose any details in translation. This is why we offer full-Spanish-speaking support! From translated documents to fluent Spanish speaking loan officers, we have all you need for a smooth home loan process.

Market Update: Rates See Relief Last Week After Fed Announcement and Employment Situation

First, it’s important to clarify that the Federal Reserve doesn’t directly set mortgage rates. When people talk about the Fed ‘hiking’ or ‘cutting’ rates, they’re referring to the benchmark interest rate. The Fed’s rate decisions rarely have a consequential effect on mortgage rates because in most cases the markets already know what the decisions will be before the announcement, and they adjust pricing accordingly. The bigger event on Fed announcement day is the press conference from Fed Chair Jerome Powell. Here, the markets get a better idea of what the Fed is thinking about for the future. In the most recent conference last week, the markets got a better idea about what the Fed’s thinking for future rate hikes/cuts.

There's a Record Amount of Cash Trapped in Your Home -- Here's How to Free it Up WITHOUT Losing Your Current Rate

Do you know how much money you’ve earned by paying your mortgage? Yes earned, not lost. When you own a home, you’re earning money with every mortgage payment. Over time, mortgage payments build up home equity – which is just a fancy term for how much of the home you own, in dollar amounts. Right now, homeowners are sitting on a record amount of equity: $16.9 trillion total and $11 trillion in tappable equity. Tappable equity is the amount of money you can take out of your home (without going below 20% equity). And according to Intercontinental Exchange (ICE), each homeowner has an average of $206,000 in tappable equity.

Market Update: Good News for Rates This Morning Thanks to Inflation & Retail Sales Data

Earlier today, we received April’s consumer price index (CPI) and retail sales reports – both of which had slightly lower numbers than experts had predicted. The result has been overwhelmingly positive. Prices on mortgage-backed securities are showing strong upward movement so far, which should result in lower-trending rates for today.

Waiting for Rates to Fall Might Not Save You Money, According to This Shark Tank Expert

Thinking about waiting out the higher-trending rates? You’re not alone. Many home buyers are sitting on the sidelines, eagerly waiting for rates to fall. Most assume that if they wait, they’ll save money. But this might not be the case. In fact, it could end up costing them more in the long run.

VA Plans to Temporarily Allow Buyers to Compensate Agents

The Department of Veterans Affairs (VA) has finally broken its silence on the future of buyer’s agent commissions for borrowers using VA Loans. In an unofficial announcement on Tuesday, VA Deputy Director of Policy Michelle Corridon stated that the Department plans to temporarily lift its restriction on that prohibits buyers from directly paying for professional real estate representation. This circular is slated to be issued between now and June 12, and will help buyers while the agency engages in a formal rulemaking process for a longer-term solution.

Market Update: Rates Unchanged After a Volatile Week; More Drama Ahead This Week Could Send them Lower

Though last week was a short week thanks to the Memorial Day holiday, it sure felt long. Rates started off the week inching higher – partly due to the long weekend partly due to comments from some Fed members. Then, they started to trend lower toward the end of the week as a result from some rate-friendly economic data. This week holds the potential to continue the lower rate trend with the jobs reports.

Market Update: Inflation Data Proves Lower-Trending Rates Are Here to Stay

Two sets of data have had one strong hold on rate movement over the past few years: jobs data and inflation trends. The higher the inflation or jobs numbers, the higher the rate trends. Last week was different. Though inflation numbers on the consumer price index came in above expectations, rates trended lower. This is big news for a couple of reasons.

Buying a Home in 2024 Will Look Different from Last Year

As we bid farewell to 2023, a year marked by record-high interest rates and soaring home prices, the housing market is showing signs of a shift in dynamics. The real estate landscape has evolved, presenting both challenges and opportunities for aspiring home buyers. In this blog, we'll delve into the highlights of the past year’s market trends and explore the current state of the market.

Market Update: Rates Inch Higher but the Market Finds Silver Linings

Rates trended higher last week, thanks to some comments from Fed members and stronger economic reports. Retail sales came in hot in December, which suggests higher consumer spending, pushes inflation higher, and generally makes rates trend higher. Additionally, Fed member Waller made comments that had a negative impact on the bond market and rates. Despite a week of mostly bad news, there were still some silver linings.

Do You REALLY Need to Get Preapproved?

In the world of real estate, the term "preapproval" often floats around, leaving potential home buyers wondering if it's actually a necessary step in the home buying process. The truth is, getting preapproved for a mortgage is not just a box to check; it can significantly impact your home buying experience. In this blog post, we'll explore what preapproval is, dive into the benefits it offers, and walk you through the preapproval process, so you can make an informed decision on whether you really need to get preapproved.

Market Update: Strong Jobs Reports Push Rates Higher -- but Not THAT High

There are a lot of headlines floating around about rate momentum towards the end of last week. Here’s what most of them sound like: last week’s employment situation crushed rates’ downward momentum. When you say it like that (which most of the media is), it sounds bad. But if you look at the bigger trend, it’s not that bad. It’s not bad for two reasons.

How Long Should You Stay in Your Home Before Selling?

Deciding to sell your home is a significant decision that requires careful consideration. Whether you're downsizing, upsizing, facing financial concerns, or taking advantage of a booming sellers’ market, the timing of selling your home can greatly impact your financial outcome. How do you know when to sell, though? Is there a specific amount of time you should stay in your house before considering selling? This blog will showcase some of the reasons to consider selling and what factors may impact your decision.

Market Update: Hopes of a May Rate Cut Dwindle After Hot Inflation News

January’s consumer price index came in hotter than expected this morning, causing stocks and mortgage bonds drop. Mortgage rates have the inverse reaction of mortgage bonds, so it’s likely that rates will trend higher. Looking long-term, experts are speculating that this higher inflation report could impact the possibility of a rate cut in May.

Is it a Good Time to Refinance? Here Are 6 Ways to Tell

Refinancing is a term that gets thrown around in conversations about mortgages and loans, but what exactly does it entail? This post will dive into the ins and outs of refinancing and explore whether or not it could be a good choice for you.

Market Update: Rates Trend Higher After Strong Inflation Report; Existing Home Sales Surge in January

Last week brought less than good news for mortgage rates with a hotter-than-expected inflation report. The consumer price index (CPI) is the most popular inflation report. Up until 2022, it wasn’t a particularly influential report in terms of mortgage rates. Since 2022, inflation has become one of the most important reports for rates, causing massive rate swings when numbers came in above or below expectations. In BETTER housing news, existing home sales from January were higher than expected, proving that the market is already heating up for spring.

Market Update: Home Prices Reach All-Time High in December; Will They Continue Climbing?

Mortgage rate trends have been relatively unchanged over the past week. Home price appreciation, on the other hand, has changed quite a bit over the past four years. According to Case-Shiller home price data released this morning, prices have surged 46% since 2019. They reached a new all-time high in December after climbed 0.2% month-over-month. This puts buyers in an increasingly difficult position, wedged between higher-trending interest rates and soaring home prices. Read more about what the experts are saying.

What Is Home Equity?

Being a homeowner comes with a number of perks and financial benefits; one of which is home equity. Homeowners looking to maximize the value of their investment would be wise to understand their home equity, how it works, and what they can use it for. In this blog post, we'll answer all your burning questions about home equity, and hopefully you’ll leave with a few ideas on making the most out of your investment.

Market Update: Rates Ended Last Week Trending Lower but Upcoming Jobs Reports Could Change Things

Rates trended higher throughout much of last week, but Friday’s economic data helped bring some relief. This week’s jobs reports have a strong influence on rate trends. Let’s take a look at what the week could hold.

Is it time to break up with your landlord? 5 ways to know if you are ready to buy a home.

Buying a home is a significant milestone for many people and it has several financial, emotional, and social benefits. However, determining whether you're truly ready to take this huge step involves more than just a desire for homeownership. It requires careful consideration of various factors that can significantly impact your financial well-being. In this blog post, we'll explore five key indicators that can help you determine if you're truly prepared to break up with your landlord and buy a home.

How To Prepare To List Your House During Peak Buying Season

As the real estate market ebbs and flows, there's a golden window known as the peak buying season—a time when potential buyers are actively searching for their dream homes. This opportune moment demands more than a "For Sale" sign and a tidy interior. To stand out and attract the right buyers, strategic preparation is key.    Here's your comprehensive guide on how to prepare to list your house during peak buying season.

Market Update: Weak Economic Data and Jobs Reports Cause Best Rate Rally in Months

Mortgage rates finally caught a break last week. After months of strong economic data pushing rates higher, we finally saw some relief in last week’s jobs reports. Most of the numbers came in lower than expected, indicating that the labor market is returning to historically normal levels. Rates reacted by trending lower – much lower. In fact, they had the best three-day streak since March 2023. Some say it was the best three days of news in the past two years.

Market Update: Rates Inch Higher; Big Inflation Data Coming Up This Week

Mortgage rates inched slightly higher last week, which is to be expected after the large downward swing we saw a couple of weeks ago. This week could shake things up with the consumer price index (CPI) inflation data from October.

Fannie Mae Makes Multifamily Homes More Affordable with Reduced Down Payment Requirements

In the midst of steep home prices and high mortgage rates, Fannie Mae is making strides to create more affordable homeownership opportunities for hopeful buyers. As of November 18, 2023, it will now accept down payments as low as 5% for 2- to 4-unit owner-occupied homes. This marks a big transition from the previous 15% to 25% requirements for multifamily homes. With the new guidelines, there is a huge opportunity for home buyers looking to purchase a primary residence while still profiting from rental income.

Market Update: Rates Slide Following Friendly Inflation News; Slow Week Ahead

Rates continued their downward trend last week, bringing them to their lowest levels in months. Who do we have to thank? The consumer price index from October. This showed that inflation was cooler than expected last month, which is a good thing for rates. Now, the bigger question that remains is: does this mark the beginning of a downward shift in rates?

Market Update: Rates Slide to 2-Month Lows and Home Price Appreciation Grows

Last week, average rates officially brushed two-month lows. Though they climbed slightly higher on Friday, they recovered lost ground yesterday. Also released yesterday was the new home sales report for October, which showed a slowdown but had some hopeful hints as well. This morning, the Case-Shiller home price index revealed that home prices are still climbing.

Market Update: Rates Slid Downward Last Week but the Trend Could be Reversed with This Week's Reports

Rates tumbled down to the lowest levels in three months last week, giving hopeful buyers and owners much needed relief. The underlying cause was movement in the bond market, which influences rate trends. Right now, the market is walking on eggshells. Last week’s progress could easily be reversed by the results from this week’s economic reports – mainly the jobs reports. However, if the jobs reports come in weaker than expected, they could help push rates even lower.

Market Update: An Overall Successful Week for Rates; More Volatility Coming Up with This Week's Inflation News

Give rates a pat on the back! Last week, the employment situation reports came in stronger than expected. Typically, this would lead to higher rates. However, rates were resilient and didn’t react as badly as anticipated. They inched slightly higher from earlier in the week, but not nearly as volatile as it could have been. Part of this could be the overall trend in economic reports as of late. They have been on a steady trend downward, which is good for the bond market (and the bond market influences rates). This morning we got the consumer price index from November, which was largely in line with expectations. More on the implications of both reports below.

6 Financial Tasks to Complete by the End of the Year

This time of year is a whirlwind. Between preparing for the holidays, traveling, spending time with family, and hopefully squeezing in some time to relax, there’s a lot going on at the end of the year. This makes it easy to overlook some less fun, but equally important tasks like checking in on your finances. If you haven’t yet already, here are 6 things to do before the year ends to maximize your financial benefits and get ready for the new year.

Five Steps to Take Now if You Want to Buy a Home In 2024

As we head toward a new year, your resolutions may include buying a new home in 2024. Homeownership in general, or an upgrade from where you are now, is at the top of the wish list for many people. Are you financially prepped for this important step?

How Debt Affects Homeownership

Homeownership is a classic part of the traditional American Dream. It represents not only financial stability but also a place to call your own. Getting approved for a home loan can feel daunting, especially if you're carrying a significant amount of debt. Debt affects your Debt-to-Income Ratio (DTI), which is a major part of the loan approval process.

Market Update: Rates Inch Slightly Higher From 7-Month Lows; Jobs Data Coming Up This Week

Mortgage rates ended 2023 trending slightly higher than they were at the beginning of the year. It was an eventful year filled with rate volatility. Luckily, December rounded out the year with several weeks of lower-trending rates. More specifically, in mid-December, rates had one of the biggest 2-day drops in decades, followed by weeks of uncanny absence of volatility. The cause was the Federal Reserve’s announcement, which coincided with the release of the outlook for the Fed Funds rate. The outlook – depicted by a rate dot plot – was very friendly, making rates very happy. So what’s to come in 2024?

How Much House Can You Really Afford? Here's What Loan Officers Are Looking At.

Imagine you find your dream home for sale after looking for months. It has a big yard for the dog, a basement for the kids, the perfect room for your home office, and it’s in a great neighborhood. However, when you reach out to an agent or loan officer to get the process started you discover that the house is way over your budget, and you have to go all the way back to square one.

Market Update: Rate Volatility Still Low Despite Strong Jobs Reports, Showing Promising Signs for 2024

Though last week didn’t bring overwhelmingly positive results from economic reports, it did give rates a chance to prove their steadfast resistance to higher-trending volatility. Several employment reports were released last week. This is important because employment data has had a strong impact on the Fed, the bond market, and rates over the past year. Generally, a stronger jobs market equals a stronger economic outlook and higher rates. Over the past 12 months, when jobs reports came in above expectations, rates would rise. So, when last week’s jobs data outperformed, many were concerned that it would rock the boat of the recent downward rate trends.

All In One Loan One-Time Close Construction-To-Permanent Program:

Market Update: Rates Drop Toward 3-Week Lows, but Will the Trend Continue?

As promised, last week’s economic data shook some things up for rates. Two weeks ago, average rates were trending near a decades-long high. Thankfully they found some relief from the GDP and jobs data last week and fell toward the lowest level in nearly a month. Now the big question is: will this trend continue?

Why a Mortgage Preapproval is Your First Step in Home Buying

Purchasing a home is one of the most significant financial decisions you'll ever make. Whether you're a first-time home buyer or you’ve moved between several homes, the journey can be both exciting and overwhelming. One crucial step that often gets overlooked in the excitement is obtaining a mortgage preapproval.

Market Recap: Hints of Inflation Drive Rates Higher; This Week's Inflation Report Could Change Things

The brief relief from two weeks ago (when rates were trending lower) proved to be short lived. Last week reversed the trend for seemingly no reason. When taking a closer look, some underlying causes come to light. One was the corporate bond market. The other was the ISM Non-Manufacturing PMI (purchasing managers index). If this sounds like a different language, we’ll explain.

Market Update: Inflation Shows Mixed Signals; Fed Interest Rate Decision Coming Up This Week

Mortgage rates trended slightly higher last week, but not for reasons you might expect. As we know, hotter inflation and stronger economic data generally lead to higher rates. But last week, rates had near opposite reactions. Inflation data was hotter than expected. However, rates inched lower. The next day, retail sales were much higher than expected, which typically would have sent rates much higher as well. But rates only had slightly higher movement. Why? Read the full explanation, plus big rate movement factors coming up this week, below.

Renovation Loans - How They Can Be Beneficial in the Current Market

Roughly half of the American population worries they’ll never own a home. Fewer homes are for sale and more homes are selling over asking price, meaning you’re more likely to be involved in a bidding war and might not be able to afford the homes you like. Many buyers, especially first-time buyers are understandably losing hope. If you feel like you’re one of these people, we’ll tell you a secret hack that most American buyers AREN’T doing that can uncover more options at lower prices. Don’t lose hope just yet!

Market Update: Fed Sees Rates Higher for Longer; New & Pending Home Sales Coming Up This Week with Inflation Data

Last week was the Fed’s highly anticipated September meeting. While the Committee did not raise the benchmark interest rate, it did release an updated summary of economic projections for 2024. Among these projections was an updated dot plot marking where each Fed member thinks the benchmark rate will be at the end of next year. Compared to the Committee’s previous projections, September’s dot plot revelated that most members expect rates will be higher for longer. Their reasoning? Recent economic data showing that the economy is strong. All other things being equal, a strong economy tends to mean a weaker bond market and higher rates.

Important Steps When Applying for a Home Loan

Purchasing a home, especially your first home, will be one of the most important transactions of your life. When you apply for a mortgage, there are some critical steps you should take. Below are some of the most crucial steps that you should take prior to shopping for your first home.

Market Update: Rates Climb and Bounce; Could See More Movement This Week with Jobs Data Releases

Last week, mortgage rates initially trended higher due to weakness in the underlying bond market. However, when we see a notable upward trend in rates, we can normally expect a ‘bounce’ lower at some point. This is exactly what we saw on Thursday and Friday. While the drop didn’t take rates lower than they were a couple of weeks ago, it did help them recover the ground they lost throughout last week. What will it take for them to continue dropping lower?

Getting a Second Mortgage Opinion: Why It Matters

Buying a home is the largest and most important financial decision you’ll make. Whether you’re a first-time buyer or a repeat buyer, it’s only natural to be overwhelmed with the mortgage approval process. Financial jargon, a slew of numbers, and limited options can make you feel trapped and forced into a decision. But before you sign on the dotted line, it might be worth expanding your options.

BREAKING: We've Raised Our 2024 Conforming Loan Limits EARLY!

The Federal Housing Finance Agency (FHFA) is projected to increase conforming loan limits once again in 2024. We are excited to start implementing these higher loan limits early. Effective immediately, our conforming loan limits will be raised to the numbers below for conforming Conventional Loans locked on or after October 9th, 2023.

Market Update: Bond Market Strength Pushes Rates Lower After a Week of Jumps

Last week, rates trended higher after various employment reports exceeded jobs growth expectations. Strong jobs market = strong economy = weaker bond market = higher rates. However, the events over the weekend have reversed the trend.

Is Now the Right Time to Buy a House, or Should You Wait?

Should I buy now or wait until rates fall? This question is plaguing current home buyers. Home prices are climbing, interest rates show no signs of cooling, and buyers are struggling to find affordable homes on the market. The result? Most buyers are choosing to wait. In fact, more than 80% of buyers believe it’s a bad time to enter the market, according to Fannie Mae Home Purchase Sentiment Index released in early September. However, there are some hidden perks and advantages to buying in the current market.

Market Update: Rates Bounce Higher After a Week of Progress; Fed Members Debating a Pause in Hikes

Mortgage rates made good downward progress last week. This week is a different story. Yesterday, rates jumped back to higher levels for no specific reason from any economic reports. However, there might be hope on the horizon. Several Federal Open Market Committee (FOMC) members have been vocal about their belief in a rate hike pause.

Struggling to Sell Your Home? DON'T Make This Costly Mistake

“I’ll wait until next year...” “Maybe when rates fall…” “I can’t afford to buy right now…” High mortgage rates are pushing many people out of the home buying market. With fewer interested buyers, selling a home has become significantly harder than a couple of years ago. If you’re trying to sell now, don’t give up hope. We have ways that can help you save money and still sell your home at top price.

Market Update: Glimmers of Hope Exist as Rates Climb Higher, but How High Will They Go?

We’ll start with the bad news: rates continued to climb last week and reached the highest levels in 23 years. It didn’t take much for them to get there since they were already flirting with the line. Nonetheless, it leaves many wondering how much higher rates will climb. We’ll get to that, but we’ll also talk about the silver linings and good news.

Market Update: Calm Seas for Rates Last Week Set the Stage for Big Wave Potential this Week

Last week, rates trended downward slightly, but as we know, this won’t be a lasting trend until economic data can show significant signs of cooling. This week, there are plenty of big reports on the horizon.

Saving Money in a High-Rate Environment

It’s no secret that mortgage rates are on the rise, which makes it more difficult for Americans to purchase homes. While the high-rate environment can be challenging, it doesn’t have to mean your chances of buying a home are non-existent.

Qualifying for a Mortgage with Student Debt

The dream of homeownership may seem out of reach to those holding on to student debt. But, with careful planning and a clear understanding of the factors involved, it is possible to secure a mortgage while managing student loan obligations. There are some key strategies and tips you’ll want to keep in mind to help you qualify for a mortgage with student debt.

Market Update: Rates Trend Higher in Response to Resilient Economic Data

Rates were relatively unchanged throughout the majority of last week until the release of certain economic data that proved the economy resilient. A resilient or strong economy typically means bad news for the bond market and thus rates. This week holds even bigger market moving reports with the jobs data.

3 Reasons Why it Can Be Smarter to Buy Than Rent

The decision to buy a home can be a significant one. It depends on individual circumstances, personal preferences, and, most importantly, financial position. Renting offers flexibility and short-term commitments for those people on the move. However, owning a home provides several advantages that can make it a more appealing option for a long list of reasons including stability (both financial and within a loved community) and customization. Let’s look into 3 reasons why buying can be a better option than renting:

Market Update: Rates Fall with Cooling Inflation Levels; What Will Existing Home Sales Do This Week?

Mortgage rates surged higher two weeks ago after economic reports suggested the economy is stronger than expected. Last week’s reports told a different tale. The main economic report last week was the consumer price index (CPI), which measures inflation. Upon release, this report showed that inflation was falling faster than expected. Inflation is a key factor that influences bonds (bonds hate inflation), and bonds influence rates. So the lower-than-expected CPI data was welcome news for rate trends, resulting in a full recovery from the week before. Though it’s only one month of data, it’s promising for a few reasons.

The Benefits of a Cash-Out Refinance

For many homeowners, your property is not only a place to live but also a valuable asset. If you find yourself in need of extra funds, whether it's for home improvements, debt consolidation, education expenses, or other financial obligations, a cash-out refinance can be an excellent solution. If you’re thinking about exploring this option, this article will help you learn how a cash-out refinance can help you leverage your home equity to meet your goals.

Market Update: Rates Climb Higher and Sellers Are in a Great Position; What Will Fed Chair Powell Have to Say This Week?

Mortgage rates trended slightly higher last week after initial jobless claims took a surprising dip Thursday morning. Lower-than-expected jobless claims = stronger labor market = not great for rates. Also in big news last week was the home inventory numbers and sales price data. Bigger news is coming up this week during the press conference with Federal Reserve Chairman, Jerome Powell, which immediately follows the interest rate announcement from the Fed.

REGISTRY REGRETS: HELPING NEWLYWEDS MAKE HOMEOWNERSHIP A REALITY

As newlyweds embark on their journey together, they’re often flooded with well-meaning gifts such as dish sets, linens, or furniture. However, a new Realtor.com and Censuswide survey revealed that 85% of people surveyed who created a wedding registry would have preferred a down payment gift instead of a physical one.

Market Update: Mortgage Rates Trended Higher, but Not Because of the Fed; Jobs Reports Could Shake Things Up this Week

Last week, the Federal Reserve raised the benchmark interest rate another 0.25%. The next day, mortgage rates trended higher. However, it wasn’t the Fed that influenced this trend. In fact, rates consequently trended lower following the Fed announcement and press conference on Wednesday afternoon. So what happened last week and what does it mean for rates going forward?

Market Update: Rates Recover in Response to Jobs Data; Big Inflation Report Scheduled for This Week

Mortgage rates fluctuated throughout last week. While they initially trended higher after Wednesday’s ADP employment change report, they reversed the trend after Friday’s weaker-than-expected employment situation reports. This week, we have July’s consumer price index (CPI), which could shake things up for rates.

How to Qualify for a Mortgage as a First-Time Home Buyer

Are you tired of renting and ready to take the leap into homeownership? Congratulations! Buying a home is one of the biggest decisions you'll ever make, and it can bring many benefits, including financial stability, increased equity, and the freedom to make your own design choices. However, as a first-time home buyer, it's natural to feel overwhelmed by the mortgage application process. That's why we've put together these pointers to help you navigate the path to homeownership and qualify for a mortgage.

Market Update: Rates Surprisingly Inch Higher Despite Friendly Inflation News; What's the Deal?

Last week, rates trended higher despite some friendly inflation news from the consumer price index (CPI). Though it’s not always the case, higher inflation levels have correlated to higher rates over the past year. But there was some hopeful news for rates and housing last week as well. Let’s break it down.

Student Loans and Homeownership: How to Overcome the Hurdle

Are you a potential home buyer struggling with student loan debt? You're not alone. With student loan debt reaching record levels, many people worry about how this debt will impact their ability to qualify for a mortgage. However, there's good news - student loans are by no means a death sentence for homeownership. In fact, with the right strategies in place and the help of a knowledgeable loan officer, buyers with student loan debt can still achieve their homeownership goals. As your trusted source for advice on overcoming the student loan hurdle, I'm here to guide you through the process.

Market Update: Rates Rise Once Again; Big Housing News Coming Up This Week

Mortgage rates inched past 20-year highs last week, leaving many people scratching their heads. Isn’t inflation supposed to be the big factor driving rates? And if inflation is calming down, why are rates rising? Both good questions that we’ll dive into below.

Getting Your Home Ready for a Disaster

No matter where you live, you likely face some sort of natural threat like tornadoes, wildfires, hurricanes, snowstorms, flooding, or heatwaves. Certain areas are more prone to natural disasters than others, and if you live in one of these areas, it’s essential to have an emergency plan. Keep these points in mind as you prepare your home and family for the unexpected.

Market Update: Jobs Data Coming Up this Week Means Big Potential for Rate Movement

August has been quite the month for mortgage rates. Though we saw a decent recovery earlier in the month, rates have since climbed to the highest level in over two decades. That being said, they’re actually not that much higher than they were last October. And they could trend lower this week if the data from all the jobs reports is on our side. Remember that ‘decent recovery earlier in the month’? That happened after the previous bout of jobs data was released. So cross your fingers for weak jobs data and you might see more buyer-friendly rates by the end of the week.

Exploring Your Mortgage Options When Rates Are Rising

Mortgage interest rates tend to be very cyclical. They regularly rise and fall depending on factors like inflation and the general health of the economy. If you’ve found yourself looking for a home when rates are rising, it can seem like the long-term affordability of homeownership is out of reach. However, there are options for home buyers in almost every housing market. This article will look at the viability of options like adjustable-rate mortgages, temporary buydowns, rate locks, and refinancing.

Market Update: Rates Hover; Fed Interest Rate Decision Coming Up This Week

Last week, mortgage rates fluctuated slightly but failed to find any true momentum one way or another. They started the week trending slightly lower thanks to bond market improvement, only to climb higher mid-week and then trend lower once again. “That said, short term ups and downs are just a sideshow in the bigger picture where rates have been locked in a pattern of indecision that will ultimately give way to the next big move,” writes Matthew Graham of Mortgage News Daily. This week could give more insight into the market’s direction with the Federal Open Market Committee (FOMC) meeting and subsequent press conference from Federal Reserve Chairman Jerome Powell.

What the New LLPA Changes Mean for You

There’s been a lot of talk recently about the changes to Loan Level Pricing Adjustments (LLPAs) from Fannie Mae and Freddie Mac. You may have heard that people with higher credit scores are being ‘punished’ with higher fees than those with lower credit scores. But before you start intentionally lowering your credit score, you might want to hear the FULL story about the changes.

Market Update: Rates Trend Lower Amid Banking News and Lower Job Openings; This Week, the Consumer Price Index Takes the Stage

Mortgage rates fluctuated last week but ultimately trended lower than the week before. They initially inched downward due to more banking drama that sent bond yields lower. Following the banking drama, the scheduled Job Openings and Labor Turnover (JOLTs) on Tuesday showed that job openings were lower than expected in March. Fewer job openings are a good sight of economic tightening, which typically sends bonds and rates lower. On Wednesday, the Federal Reserve raised the benchmark interest rate another 0.25%, which was widely expected by the markets. Less expected was the language shift in the Fed’s statement that suggests it will be easing up on rate hikes soon. This was more good news for interest rates. Friday, however, unloaded stronger-than-expected employment situation reports, which sent rates slightly higher, but not higher than the previous week.

FHFA Slashes Upfront Debt-to-Income Fee Slated for August 1; the Industry Rejoices

After months of pushback from lenders, REALTORSÒ, and borrowers alike, the Federal Housing Finance Agency (FHFA) has finally dropped the upfront debt-to-income (DTI) fee that was scheduled to start on August 1. Just yesterday, the FHFA announced that it was rescinding its proposed fee change that would be based on borrowers’ DTI ratios after receiving notable feedback about said change from the mortgage industry.

Market Update: Rates Unchanged and Inflation as Expected; Existing Home Sales Coming Up This Week

Mortgage rates trended slightly higher in the beginning of last week in preparation of the release of April’s consumer price index on Wednesday. Following the release, which revealed numbers that were exactly in line with expectations, rates started trending lower. They trended lower again on Thursday thanks to weaker data from certain economic reports. Weaker economic data = better for bonds = better for rates. As bond price increased, rates typically decrease. On Friday, however, bond prices fell, which influenced rates slightly.

Your Dream Home is Waiting. Make it a Reality with a 1x Close Construction Loan

Low housing inventory has left hopeful buyers with limited options. When it comes to finding a house you love in an inventory-starved market, it can feel like fitting a square peg in a round hole. Luckily, we have your perfect fit – with all the features, rooms, and perks you want. Your dream home is waiting. Make it a reality with our One-Time Close Construction Loan!

Market Update: Rates Trend Higher; Pending Home Sales Coming Up This Week

A few different factors contributed to last week’s upward rate momentum. For once, economic reports were not the main cause. The first factor was the debt ceiling debate. The other was Fed member comments and the overall economic outlook. All of these factors contributed to bond market weakness, which oftentimes correlates to higher rates.

Market Update: Rates Rise and Inflation Remains Stubborn; Home Prices and Jobs Data Coming Up This Week

Mortgage rates trended higher last week after the markets realized that the Federal Reserve may need to keep the benchmark rate higher for longer. This comes in the wake of recent economic data that has been stronger than expected, including recent inflation reports.

The Best Time of Year to Buy A Home: Insights And Tips

As you start shopping for a home, timing can play a crucial role in securing a deal or getting the location you want. While the real estate market fluctuates throughout the year, certain periods offer definite advantages for potential home buyers.

Market Update: Rates Trend Lower Despite Strong Payroll Numbers from the Employment Situation

Is the labor market strong or not? Recently, the employment situation reports have been the pulse of the economy. But last week’s jobs data from May made it difficult to tell. On one hand, nonfarm payrolls and private payrolls greatly outperformed – indicating labor market strength. On the other hand, the unemployment rate ticked up, average hourly earnings declined, and the workweek was cut shorter – all signs of labor market weakness. As we know, a stronger economy generally leads to a weaker bond market and higher rates and vice versa. So how did the bond market react to the data?

Buying a Home Right Now is Still a Good Idea -- Here Are 3 Keys to Making it Happen

The current market offers plenty of challenges for hopeful homeowners and would-be buyers. Higher rates, steep prices, and few options on the market are making affordability a seemingly insurmountable hurdle. But according to wealth expert, CFP, and CEO of Collective Wealth Partners, Kamila Elliot, “buying a home right now is a good idea.” Before you do, there are three boxes you’ll want to check off, according to Elliot.

Market Update: Rates Unchanged; Inflation Data and Fed Interest Rate Decision Coming Up This Week

Similar to the week prior, mortgage rates showed minimal volatility last week. A potential cause could be the market’s prediction that the Federal Funds Rate is nearing a plateau. In other words, the markets are predicting that the Federal Reserve will NOT hike the benchmark interest rate this Wednesday or at subsequent meetings in 2023. Of course, this will largely depend on economic data like jobs reports and inflation. This week we’ll get news from the consumer price index (CPI) about inflation in May. The following day is when the Fed is scheduled to make a decision about the benchmark rate.

No W-2 Forms? No Problem. We Can Still Help You Buy a Home!

If you don’t have W-2 forms and think all home buying hope is lost, think again. Though many types of home loans require them, we offer several unique non-QM programs that can help you buy a home without W-2s.

Market Update: Rates Remain Relatively Unchanged, as Does the Federal Funds Rate; What's Next for the Fed and Mortgage Rates?

As expected, the Federal Open Market Committee (FOMC) voted to leave the benchmark interest rate unchanged last week. Because the markets had already prepared for this decision, there wasn’t much resulting bond or rate movement. However, the decision was a notable change after 10 consecutive rate hikes starting in early 2022. The Fed’s statement and Fed Chair Jerome Powell offered slightly more insight on where they see rates going for the rest of the year.

3 Essential Questions Renters Must Ask Before Purchasing a Home

For many renters, the idea of transitioning from renting to homeownership can be both exciting and daunting. It's a significant financial and lifestyle decision that requires careful consideration. Before taking the leap, renters should ask themselves several crucial questions to ensure they are ready for the responsibilities and benefits of owning a home. If you’re considering homeownership, consider these three essential questions that you should ask before making the move.

Market Update: Rates Fall Slightly Amid Positive Housing News, Showing Resilience

Mortgage rates showed relatively little volatility last week, fluctuating up and down and ending the week at a slightly lower level. There weren’t any extraordinarily large swings in rates despite the confirmation from Fed Chair Powell that they will likely have a couple more rate hikes this year. Other big news last week included the huge surge in housing starts in May. Some experts claim this news would have caused more rate volatility earlier in the year but they’re showing more resiliency at this point. The trajectory of rates and rate hikes will largely depend on one key economic factor.

Market Update: Rates Trend Sharply Lower; Consumer Price Index Coming Up This Week

Last Friday was an eventful one for the bond market and rates. There was a lot of commotion going on in banking news that positively impacted bonds. Other news that affected bonds positively on Friday was the release of the employment situation reports. These reports include data on payrolls, earnings, workweek duration, unemployment, and participation in the workforce. Overall, the reports fell short of expectations, save a couple of exceptions. So what does the bond market and employment data have to do with mortgage rates? In the current environment, both of these factors have a strong impact on rates. Luckily, last week’s events had positive impact on rates – a very positive impact (at least for now).

Housing Data Released This Week Was Welcome News for Rates

It was a good week in housing news. From mortgage application submissions to home builder confidence to housing starts and building permits – there were a lot of positive signs that experts think mortgage rates will appreciate.

Market Update: Rates Fall After Fed Interest Rate Announcement

Mortgage rates took a sharp downward trend last week after the Federal Reserve’s decision and press conference about the benchmark interest rate. The benchmark interest rate, or federal funds rate is the target interest rate for banks and depository institutions. The Fed sets the range of the federal funds rate and uses it as a tool to help stabilize the economy. While the benchmark interest rate doesn’t directly set mortgage rates, it can influence their movement. Even more of an influencing factor is the language surrounding the benchmark rate and overall economic outlook.

The Federal Reserve: How Does it Affect Mortgage Rates?

On March 22, the Fed announced a federal funds rate hike of 0.25%. This move was widely expected by the markets. During the press conference that followed, Fed Chair Powell talked about upcoming tightening due to the recent banking events, which can shape economic momentum. This is the comment the markets honed in on that consequently pushed rate trends lower. Why? Here is how the Fed influences rates.

Market Update: Rates Stabilize After Banking News; Inflation Falls Lower Than Expected, Important Jobs Reports Coming Up This Week

Average mortgage rates trended higher toward the beginning of last week due to bond market stabilization following weeks of banking drama. On Friday, the personal consumption expenditures (PCE) index showed that inflation was cooler than expected in February. Inflation is the enemy of bonds (which influence rates); therefore, rates trended slightly lower following the report’s release. This week holds some potential for rate movement with the various jobs reports scheduled for release: the job openings and labor turnover survey (JOLTS), ADP nonfarm employment change, and the employment situation on Friday.

VA Mortgages Will Become Cheaper in April, Just in Time for the Spring Buying Season

The spring home buying season is gearing up, and there is good news coming for VA buyers, just in time for the upcoming season. Earlier this year, the U.S. Department of Veteran Affairs (VA) announced that funding fees for purchase, construction, and cash-out refinance loans would be reduced on loans closed on or after April 7, 2023, and prior to November 14, 2031. The reduced fee will depend on the down payment amount, loan type, and whether the borrower has ever used a VA Loan in the past.

Market Update: Rates Drop to 2-Month Lows and the Employment Situation Shakes Things Up; Inflation Data Could Make an Impact This Week

Mortgage rates slipped down to two-month lows in the beginning of last week, primarily a result of the Job Openings and Labor Turnover Survey (JOLTS) from February. For the first time in two years, the survey showed that job openings fell below a level of 10 million. Markets took this as a sign of a tightening labor market, which is positive news for bonds and therefore rates. Things took a turn later in the week with the release of the employment situation.

Not All Debt is Bad. Here's How to Use it to Your Advantage

Over 75% of American households carry some type of debt – credit cards, mortgages, or other types of loans.  Though debt is a normal part of most peoples’ lives, it tends to get a bad reputation. We grow up learning about the dark side of debt. “Debt will hurt your credit score,” “you should avoid debt at all costs,” and “all debt is bad” are just a few of the myths we’re told. While we generally want to be careful about the debt we take on, it can be a huge financial advantage if you utilize it well.

Market Update: Rates Climb Towards End-of-March Levels; Existing Sales Coming Up This Week

Last week, mortgage rates trended higher despite weaker inflation and retail sales numbers. Cooler inflation levels have typically been correlated to lower-trending rates over the past several months, so last week’s news may have come as a shock to some. While there’s no single event we can blame for last week’s increases, we are starting to see inflation reports become less of a concern for the bond market and rates. Instead, jobs reports seem to be stealing the spotlight lately. The markets know that the Federal Reserve is closely eyeing these reports, hoping for a slowdown.

Market Update: Rates Climb Higher, Existing Home Inventory Rises, and New Home Sales Data is Coming Up This Week

Mortgage rates trended slightly higher last week. Not only is the dust settling from the banking events in March, but there has been data showing signs of strengthened economies, including higher inflation levels from the UK. Why does data from the UK matter? Because data like this affects overseas bonds, which oftentimes spills into U.S. bond movement, which affects interest rate movement. Other happenings last week include signs of increased home builder confidence in April and existing home inventory in March. The median existing-home sale price decreased.

Legislative Proposal to Ban Trigger Leads Offers Consumers Hope of Long-Needed Relief

Last week, Rep. Ritchie Torres of New York introduced bill H.R. 2656 in hopes of ending the sale of trigger leads, which could greatly reduce the number of unsolicited calls a consumer receives after applying for a mortgage. Oftentimes, trigger leads cause confusion for buyers because they can come from competing lenders who are asking for personal information. Although this bill is still in the early stages, it’s a good (and far overdue) step in the right direction.

Home Buyers Are Feeling More Confident About Purchasing in 2023

Home buyers are embracing the new year with a new hope. Mortgage application submissions are up, sales prices are set to cool, and more sellers are offering concessions. On top of that, mortgage rates are expected to continue trending lower over the next 12 months. Though last year was a challenge for many, it’s looking like the force will be strong with hopeful buyers this year.

Market Update: Rates Brush 4-Month Lows After Encouraging Inflation News; Existing Home Sales Coming Up This Week

Mortgage rates slipped lower last week after the release of the consumer price index for December. The index, which measures the changes in the average price of a fixed basket of goods and services, showed that inflation is continuing to cool. This was welcome news for the bond market and interest rates. In fact, it was VERY welcome news.

Builder Optimism, Home Inventory, and Purchase & Refi Demand Tick Up as Rates Trend Lower

What a difference a year makes. A year ago, mortgage rates were climbing one of the steepest hikes in history. The only rival being the Everest of the late 70s and early 80s. What was once a roaring market driven by pandemic-level rates quickly became a ghost town of sinking refinance demand, destroyed builder confidence, and plummeting interest in purchasing a home. A cloud of apprehension lingered over the market for the better part of a year. Twelve months later, and the sun is finally starting to break through.

Market Update: Rates Inched Higher Last Week; Important Inflation-Related Reports Coming Up This Friday

Mortgage rates trended slightly higher last week but will likely rebalance this week with upcoming news on inflation, consumer spending, and personal income. Last week also brought us December’s existing home sales, which were better than expected.

Haven't Considered an ARM? It Could Be a Game Changer in This Market

Spring is just around the corner, but things are already starting to heat up. Yesterday, the Mortgage Bankers Association released its weekly mortgage application survey, which showed mortgage demand increased for the third consecutive week. Purchase application submissions jumped 3% to reach the highest level since August 2022. Buyers are likely taking advantage of the recent dip in mortgage rates over the past couple months. Though rates have been trending lower than they were in October, they’re still nearly double what were last spring. Considering jumping into the market? Here’s how you can try to get a potentially lower rate.

Market Update: Most Stable Rate Trend Since 2021; Pending Sales, New Sales, and Mortgage Demand Increase; Fed Interest Rate Decision Coming Up This Week

There are a lot of ways you could describe mortgage rate trends over the past year – volatile, variable, unpredictable, aggressive. One word we haven’t used to describe rate trends in a while is stable. The last time rates were trending with this much stability was in 2021, according to data from Mortgage News Daily. While the big headline is that rates are trending lower than they were roughly 4 months ago, the unsung hero is the stability of rate trends. Lower rates are more of an attractive headline, but the big win in the long run is going to be their stability. It’s not a guarantee that rates will continue on their current path, but already, we’re seeing some positive effects trickle in because of the consistently lower rate trends in recent months.

5 Ways to Turn Your Tax Refund into a New Home

Tax season is the time of year that most Americans look forward to because they are expecting a refund from Uncle Sam. It may be easy to start daydreaming about a new car, a new wardrobe, or shiny new electronics, but if your goal is to become a homeowner this year, there are several ways that you can leverage your refund to reach your goal and start building wealth. Here are 5 ways that you can use your tax refund to purchase a home:

Market Update: Rates Relatively Unchanged After an Eventful Week of Economic Reports

The Super Bowl may be this weekend but last week was quite the event. Mortgage rates started off the week fairly calm, trending near 4-month lows. They trended even lower after the Federal Reserve’s rate hike. Then the employment situation reports were released, sending rates on a higher trend. But by the end of it all, rates still finished the week roughly in line with where they started. Here’s a breakdown of everything.

6 Ways to Get Your Home Ready for the Spring Market

Did the recent shift in the market keep your selling plans on hold? Springtime is right around the corner, and it’s time to start having conversations with your Realtor about how you can get your home in order now to have a smooth sale come listing time. Home buyers usually start their home search back up during the spring because they know that more inventory is going to hit the market, so it’s important to make sure that you make your home stand out.

Market Update: Rates Climb Higher, Consumer Price Index Could Affect the Trend this Week

Mortgage rates trended higher last week after stronger-than-expected jobs reports the week before. A stronger jobs report indicates a stronger economy, which generally leads to higher rates. However, last week there were some other factors involved as well. Though there was a lot of change last week, it’s important to remember that this “doesn't carry an implication for the next move,” writes Matthew Graham of Mortgage News Daily. Meaning, just because last week’s rates trended higher doesn’t mean that they will continue on this path. In fact, a lot could change this week with the upcoming consumer price index scheduled for release tomorrow morning. If the inflation numbers come in hotter-than-expected, it could mean bad news for rates. But if they come in below expectations, rates could very well stabilize or trend lower.

How FHA Buyer's Choice Can Help You Buy a Home with No Money Down

When it comes to buying a home with 0% down, USDA and VA have dominated the conversation. Now, we’ve brought FHA into the chat. Through our FHA Buyer’s Choice down payment assistance program, you can buy a home with an FHA Loan and pay little to no down payment or closing costs. Unlike USDA and VA Loans, this program is available to everyone – no locational, military, or first-time buyer requirements.

Market Update: Rates Remain Elevated Amid Persistent Inflation News, Existing Home Sales Coming Up This Week

January’s consumer price index (CPI) had a few unexpectedly high numbers last week, which caused some bond market and rate adjustments. Higher numbers on the CPI suggest that inflation is persevering and might take longer to cool down to the 2% target. In short, high inflation = bad for rates. Other factors that have affected rates this month include the strong jobs reports released a few weeks ago. “Generally speaking, higher inflation and stronger economic data mean the Fed is likely to keep short-term rates higher for longer,” writes Matthew Graham of Mortgage News Daily.

Market Update: Rates Trend Higher After High Inflation Numbers and Strong Economic Data; Case-Shiller Home Price Index Coming Up This Week

Mortgage rates trended higher last week after the inflation numbers on the personal consumption expenditures (PCE) index climbed in January. Consumer spending also surged in January. Existing home sales slipped while new home sales jumped, and existing home inventory showed signs of recovery. This week, important data on home prices will be released.

7 Homeownership Myths

Transitioning from being a renter to a homeowner can be very overwhelming with the amount of information that is available. Many times, it can be difficult to distinguish what is accurate and what is false. Some of the myths can seem like roadblocks that may prevent buyers from wanting to move forward, but we are here to set the record straight on seven of the most common homeownership myths.

List & Lock: Advertise Below-Market Rates on Your Listings

Higher-trending rates are making many buyers think twice about their purchase. Over the past year, rates have soared much higher than they were in 2020 and 2021, putting many potential purchases on pause. Though home price appreciation is declining month-over-month, the bigger number on buyers’ minds is the rate. If you’re trying to sell in the current market, don’t worry, we have you covered. To help more buyers over the interest rate hurdle and to help sellers garner more interest in their home, we’ve created List & Lockä. With our exclusive List & Lock™ advantage, sellers can advertise discounted rates on their listings, drawing in more buyer demand, and giving the future buyer a desirable rate on their mortgage.

Market Update: Rates Inched Higher Last Week; More Potential Volatility This Week

Mortgage rates trended higher throughout most of last week largely due to the trading levels in specific bonds. It was mostly just continued momentum that kicked off last month with the release of reports showing strong economic data. Though strong economic data sounds positive, it oftentimes results in traders selling bonds and mortgage rates climbing higher. This week, we’ll potentially see more rate volatility with the releases of several important jobs reports including ADP employment change, job openings, and the employment situation reports. If the reports come in lower than expected, rates could trend

5 Reasons Why Winter is the Best Time to Buy

Winter is probably the last season picked in home buyer gym class. It’s cold, it’s in the middle of the school year, and everyone is preoccupied with the holidays. Plus, it admittedly is a slower season for the housing market. While winter may not have the speed of spring or athleticism of summer, it does have a certain edge that can help home buyers win.

Rent Payment Edge: Use Your Rent Payments to Qualify for a Mortgage

Have you been discouraged from applying for a mortgage due to your limited credit history? We are happy to introduce our Rent Payment Edge program that helps reward renters with a good payment history!

Market Update: Rates Relatively Unchanged; Consumer Price Index, and Fed Interest Rate Decision Coming Up This Week

Mortgage rates ended last week at levels relatively unchanged from the week before. This week, the market is eagerly awaiting data from the consumer price index. This could have a huge impact on rates if it shows anything unexpected. The Federal Open Market Committee (FOMC) will announce their decision on the benchmark interest rate the following day. Their decision will be heavily influenced by the consumer price index data.

What This Morning's Inflation Data Means for You

Things are looking up for home buyers. Though the holidays aren’t for another week, the Bureau of Labor Statistics (BLS) dropped off an early gift this morning. The gift came in the form of the consumer price index – a popular inflation-measuring method – which showed that November’s inflation levels were cooler than expected. Mortgage-backed securities jumped for joy, traders breathed a sigh of relief, and anyone concerned with mortgage rates should be drinking a nice cup of holiday cheer.

6 Main Things That Go Into Making an Offer on a Home

You and your real estate agent have done the research and found the home. Congrats! Now it’s time to make an offer. An offer is important not only because of its price point. If an issue or question ever comes up during the transaction, this is the contract that you all will reference. Making an offer is a little more detailed than just writing a number on a piece of paper, so if you haven’t already, you might want to connect with a real estate agent – someone who is trained and ready to write you a winning contract!

Market Update: Rates Fall Toward 3-Month Lows; NAHB Housing Market Index, Housing Starts and Building Permits, and Existing Home Sales Coming Up This Week

Last week brought a whirlwind of good news for mortgage rates, starting with the consumer price index. The consumer price index for November showed that inflation is continuing to cool, which is good news for the bond market, which influences rates. It also is good news for the Federal Reserve because it shows that their rate hikes have been working. Therefore, the central bank decided to slow its pace of rate hikes, which was although expected, was another wave of positive news for rates. Consequently, they trended lower and were brushing fresh 3-month lows. This week, there’s a great deal of housing reports coming up, starting with the NAHB index.

Home Buyers Inch Back into the Market Following Weeks of Positive Rate News

Still think it’s a bad time to buy? According to Mortgage Bankers Association, more buyers think it’s a good time to buy a house in recent weeks. While many are still sitting on the sidelines, the ones who are taking advantage now are reaping the benefits of lower-trending rates, seller concessions, and less competition than the hotter spring market.

6 Financial Tasks to Complete by the End of the Year

This time of year is a whirlwind. Between preparing for the holidays, traveling, spending time with family, and hopefully squeezing in some time to relax, there’s a lot going on at the end of the year. This makes it easy to overlook some less fun, but equally important tasks like checking in on your finances. If you haven’t yet already, here are 6 things to do before the year ends to maximize your financial benefits and get ready for the new year.

Pros and Cons of HELOCs

HELOCs have been all the rage in 2022. Because of the flexibility of a home equity line of credit (HELOC), the number of new HELOCs jumped to more than 341,000 in the second quarter of 2022 — a 44% increase year-over-year, according to ATTOM. In the second quarter alone, homeowners tapped more than $66 billion in equity. Many buyers and owners have made the jump into HELOCs this year – for good reason. If you’re wondering if it’s right for you, here are some pros and cons to weigh out.

Market Update: Rates Trend Higher; Pending Home Sales Coming Up This Week

Last week, mortgage rates inched higher. It’s important to remember that rate movement can be more volatile during the holidays but in the long run, the movement last week and this week won’t matter as much. “In general, we're not paying too much attention to mortgage rate volatility until the 2nd week of January,” writes Matthew Graham of Mortgage News Daily. “During winter holidays, it becomes increasingly apparent that something is "different,"” Graham notes. “Those differences can manifest themselves in different ways but one of the most apparent is with higher volatility.”

Worried About a Possible Recession? Experts Agree Real Estate is a Good Investment

If you feel like we’ve been on the edge of a recession for months, you’re not alone. More big names are warning Americans of an impending recession – Jeff Bezos, Elon Musk, and most recently, billionaire David Rubenstein. Alongside these names is the majority of Wall Street. While investors may have different ideas about the best stocks for a recession, most agree that one investment is almost always a smart, recession-proof move.

Is It Better to Rent Or Buy A House?

The weather isn’t the only thing cooling this season. Yesterday, the Case-Shiller home price index showed that home prices are continuing to fall. October marked the fourth consecutive month of cooling home prices. Meanwhile, rent prices are expected to continue climbing in 2023. When comparing the costs for renting and buying, which is right for you? Let’s explore some of the pros and cons for both.

Inside USDA Loans -- Buy Your Home with 0% Down

Buying a home with no upfront payment sounds nice, but many hopeful owners don’t think they qualify for a 0% down loan. Perhaps the biggest misconception about 0% down USDA Loans is that they are only for farms and rural areas. Surprisingly, over 95% of U.S. landmass is eligible for USDA financing. Many USDA buyers live in the suburbs. Here are more facts about USDA Loans that might pleasantly surprise you.

Market Update: Rates Trend Higher; ADP Nonfarm Employment Coming Up this Week

Last week, mortgage rates trended higher. Mortgage rates are based on the bond market, which is oftentimes slightly chaotic toward the end of the year. “The last two weeks of December are often a roll of the dice,” writes Matthew Graham of Mortgage News Daily. Rate movement this time of the year can more or less be ignored. During the holidays, the bond market and rates are often more volatile, but they should start to normalize once we get into the thick of January.

Will 2023 Bring Good News for Home Buyers? Here's What Experts Are Saying

2022 wasn’t necessarily smooth sailing for home buyers. As the year comes to a close, we’re starting to see some light at the end of the tunnel. What will this bring for the housing market next year? Here are four predictions for 2023 according to housing market experts.

Why Working with a Real Estate Agent Pays Off

A popular question that comes up before selling or buying a home is whether or not you should work with a REALTOR. While it is not a requirement, having a knowledgeable real estate agent can help you navigate the current market, sell/buy quicker, and earn higher profits.

Yes, Your VA Loan Can Help Sell Your Home

Your VA Loan can do a lot more than help you buy a home. If you’re finding it hard to sell in the current market, you might want to remember that VA Loans are assumable. By letting buyers know that they can assume your VA Loan, you could sell faster and for a higher price.

Market Update: Rates Fall After Employment Situation News; Potential to Improve Further This Week with the Consumer Price Index

Mortgage rates saw a sharp downward trend on Friday following some unexpectedly low numbers on December’s employment situation reports. The Federal Reserve has been closely watching employment data over the past several months to see if the numbers will aid in the fight against inflation. In general, lower employment numbers are better for inflation, the bond market, and interest rates.

More Home Buyers Turning to ARMs for Relief in the Current Market

Affordability has become an increasing issue for home buyers this year. Mortgage rates have more than doubled their levels in January. Home prices, though falling, are still high relative to the past few years. And many home buyers are being ‘priced out’ by their projected monthly mortgage payments. One solution, however, is becoming increasingly popular.

Market Update: Rates Fall; Construction Spending and Fed Interest Rate Decision Coming Up This Week

Last week, mortgage rates had their best winning streak in months. One of the factors was a more rate-friendly tone from a Fed member who suggested that the Fed should start discussing its let up on rate hikes. Other helpful factors include the European Central Bank’s friendlier-than-expected announcement and economic data that hinted the Fed’s rate hikes are starting to make their desired effect. Rate-friendly decisions abroad tend to impact domestic rates positively. Domestically, the Fed is waiting for signs from economic data (like cooler inflation) before tapering off its rate hikes. The market eagerly awaits this week’s interest rate decision from the Federal Open Market Committee (FOMC) and subsequential press conference by Fed Chair Jerome Powell.

Here's What to Expect from Tomorrow's Fed Announcement

How much higher will rates get? Time will tell, but tomorrow all eyes are on Fed Chair Jerome Powell. Tomorrow is the penultimate Fed interest rate announcement of the year. Economists largely expect another 0.75% increase. The Fed rate hike probability is almost certain, but what comes after is not.

Home Buying Tips for Recent College Graduates

Purchasing a home is a dream of many, especially those who have graduated college and begun life in the ‘real world.’ Purchasing your first home early and avoiding the rent trap can give you a jump start on building valuable home equity. If you’re just starting out in the ‘real world,’ welcome! Here are a few tips for those who don’t want to waste money on rent.

Market Update: Rates Rise; Consumer Price Index Coming Up This Week

The Federal Reserve raised the benchmark interest rate another 75 basis points last week. Additionally, the Federal Reserve statement hinted the Committee would discuss smaller hikes in the near future. The markets widely expected the increase and initially reacted well to the hints in the statement. After Fed Chair Powell’s press conference, they started to take a turn. While he did confirm that the Fed would discuss the easing hikes at the December meeting, he also included a lot of reminders about high inflation and reinforced the Fed’s commitment against it. Future Fed decisions are largely going to depend on incoming economic data like inflation reports and jobs reports. This week, all eyes are on the consumer price index – the most widely-used inflation report.

Looking Back: The Current Housing Market is All Too Familiar

This isn’t the first time the housing market has been here. In the late 1970s, inflation climbed to 14% and home prices surged 14%. It was a seller’s market; buyers were taking what they could get. Eventually, the Federal Reserve raised interest rates to calm down the economy. By 1980, mortgage rates had soared to 15%. Buyer competition cooled, home prices declined, and more options became available on the market. What was once a seller’s market quickly turned in favor of the buyers. Flash forward 42 years, and you’ll find a market in very similar conditions.

Market Update: Rates Fall; Housing Starts and Building Permits, Existing Home Sales Coming Up This Week

Last week, the consumer price index for October showed that inflation was much cooler than expected, which in turn gave the markets increased hope for a lower fed funds rate increase in December. When the bond market is happy, mortgage rates tend to trend lower. In this case, they trended drastically lower – marking the largest single-day drop in over a decade, according to historic data from Mortgage News Daily. While this doesn’t ensure a smaller rate hike in the future, it certainly provides some hope in the meantime.

Will Mortgage Rates Continue to Drop?

Hope is in the air for home buyers. For several months, many buyers have been holding their breath as mortgage rates have continued climbing higher. Last week they finally got a breather. Following Thursday’s release of the consumer price index, mortgage rates saw their biggest single-day tumble in over a decade. The question now is whether rates have peaked or if they trend higher again.

Market Update: Rates Unchanged; New Home Sales Coming Up This Week

Mortgage rates were relatively unchanged last week with much less volatility than in recent months. They could have continued trending lower last week were it not for comments from various Federal Reserve members discouraging the markets from getting too excited for future declines. What does that mean? The Fed is extremely unified in its determination to lower inflation and will likely need more than one month of good inflation news to consider pausing rate hikes.

Market Update: Rates Unchanged; Case-Shiller Home Price Index and Pending Home Sales Coming Up This Week

During the shortened holiday week, mortgage rates remained relatively unchanged. This marks the second consecutive drama-free week for the bond market and mortgage rates – a trend not seen in months. As stated by Matthew Graham, COO of Mortgage News Daily, “mortgage rates have been hovering around the best levels since late September for two straight weeks now.” As we move into December, it’s possible that rates could have slightly more volatility, but the largest changes are likely to take place closer to the next Federal Open market Committee (FOMC) meeting on December 13-14.

How to Effectively Price Your Home in the Modern Market, According to an Appraiser

Today, the Case-Shiller home price index showed that the prices of homes declined for the third consecutive month in September. Annual price gains appeared to have peaked roughly six months ago and have been declining ever since. This cooling may come as a shock to sellers, who had enjoyed nearly two years of red-hot prices and sky-high profits. Now as the market is shifting, many sellers are swallowing a tough pill – that their home may not sell for the same price that it could have earlier this year.

5 Things to Negotiate When You Buy Your First House

Buying your first house is an exciting move, especially in the current market. More and more sellers are offering consessions to buyers like closing costs, points, etc. But there might be more conessions that your real estate agent could negotiate. It's always useful to work with a real estate agent, especially when buying your first house. They have the ability to potentially save you hundreds or thousands.

The Secret Hack to Lower Mortgage Rates

It would be hard to get a mortgage rate in the range we saw during the pandemic. But what if you could get something low by today’s standards? More and more buyers are taking advantage of programs that can help them save hundreds per month on their mortgage payment. In fact, sellers can benefit from these programs too.

Market Update: Rates Fall; Consumer Credit Coming Up This Week

Last week was a roller coaster for the stock and bond markets, but mortgage rates came out on top. Rates saw a huge downward shift following Fed Chair Powell’s comments surrounding the fed funds rate outlook. While he was still cautious with his choice of words, the markets took note of his confirmation that the Fed is looking at slowing the pace of rate hikes soon. Experts are thinking that ‘soon’ means the upcoming Federal Open Market Committee (FOMC) meeting next week. Therefore, the markets repriced for the hopeful outlook. But the week didn’t end there.

Sneak Peek of Next Week: Jobs, Inflation, and Future Fed Rate Hikes

Mortgage rates ended last week brushing some of the lowest levels in two months. On Wednesday, Fed Chair Jerome Powell hinted that there’s a strong chance next week’s rate hike could be smaller than the previous hikes of 0.75%. Friday’s jobs reports put a temporary damper on the mood. Overall, rates finished the week strong, but the next eight days will be crucial in determining where they go next. If this all sounds a little bit confusing, don’t worry, we’ll break it down below.

Market Update: Rates Trend Higher; Case-Shiller Home Price Index, Pending Home Sales, and PCE Index Coming Up This Week

Last week, mortgage rates trended higher. Mortgage rates have been trending higher since the release of the latest consumer price index, which showed that inflation is at higher-than-expected levels. The Federal Open Market Committee (FOMC) also made a unanimous decision to raise the benchmark interest rate by another 0.75%. Important reports scheduled for release this week could have another big impact on the movement of rates – especially the PCE inflation reports on Friday. Completion is the enemy of the bond market, which influences mortgage rates heavily. Other important reports include the Case-Shiller home price index and pending home sales.

The Best Week to Buy a House is Here

Have you been waiting for the perfect time to buy a home? The wait is up! A recent study by Realtor.com found that the week of September 25 to October 1 is the best week of the year to purchase a home – based on ideal market conditions like lower prices, more options and reduced competition.

5 Tips to Help You Choose a Mortgage Lender

When shopping around for a mortgage lender, it's important to investigate more than who has the lowest rates. While most mortgage lenders have a lot of the same processes, other factors that can set them apart include the service you receive and the fees they charge.

How to Lower Your Monthly Mortgage Payment

Interest rates have risen, but there are still ways you can make your mortgage payment lower. Here are five ways you can lower your monthly mortgage payment.

Market Update: Mortgage Rates Rise; Construction Spending and Job Openings Coming Up This Week

Mortgage rates continued trending upward last week. While there was a short correction mid-week, the volatility ramped back up by end-week. However, this doesn't mean that all hope is lost for mortgage rates. While it's likely that they will continue trending upward until inflation cools, rates have seen some of the biggest day-to-day changes in a decade over the past several months. Which means you could still lock in a good rate. When compared to rates over the past couple of decades, the current rates are still very average.

Home Prices Cooled at Fastest Pace Ever, Offering Hope for Buyers

Rent prices took a dip in August but the long-term forecast looks grim for most tenants. According to Realtor.com’s chief economist, Danielle Hale, rent prices are expected to rise at an above-average rate through the spring of 2023. Home prices, however, are quickly cooling. Could now be your time to make the switch from renting to buying?

4 Questions to Ask Before You Buy a Second Home

An oceanside paradise, a lakefront escape, acres of space and endless skies – they all sound like a dream. But owning a second home is a big financial commitment. It’s easy to imagine all the ideal possibilities of a second home. It can be more difficult to go through the financial details.

Market Update: Mortgage Rates Rise; Consumer Price Index Coming Up This Week

Mortgage rates trended higher last week after the release of strong jobs reports. In a typical market, economic data wouldn't influence rates to the volatility of this extent. But this year has not been a typical market. After several job reports last week came in at higher-than-expected levels, the markets started adjusting and repricing. Why? Strong jobs data suggests that the economy can continue enduring the rate increases by the Fed. This doesn't necessarily mean that the Fed will continue raising at the current increases, but it could influence continued hikes.

Data Doesn't Lie: October is the Best Month to Buy a Home, Even This Year

Temperatures are dropping, leaves are falling, and the housing market is cooling off. Normally a cooled market suggests it’s a less-than-ideal time to buy a home, but this year it might just be your window of opportunity.

What Can Buyers Negotiate When Buying a Home?

Rates are continuing to trend higher, giving many home buyers pause about their purchase. But rising rates are just the tip of the iceberg. Beneath the surface, the housing market is shifting in favor of home buyers. Prices are falling, competition is dwindling, and sellers are doing anything to reach the closing table. The power is yours – what do you want to ask of your sellers? Here are some factors you can negotiate.

Market Update: Rates Inch Higher; NAHB Housing Market Index, Housing Starts and Building Permits, Existing Home Sales Coming Up This Week

Last week, mortgage rates trended higher following hotter-than-expected inflation data. High inflation is tough on mortgage rates for a couple of reasons. First, inflation is the enemy of bonds, and the bond market heavily influences rate trends. Additionally, persistently high inflation will likely lead the Federal Reserve to continue its aggressive rate hikes.

Investment Homeowners to Profit from Sky-High Rent Prices, Remote Work Opportunities

Investment homeowners are in for a profitable year in 2023. The past two years have been a whirlwind – from the pandemic cooling to the hottest market in decades. Now, rent prices are skyrocketing, more people have the flexibility to work remotely, and investment homeowners are reaping the benefits. And even more good news is in the queue for next year.

Tax Benefits of Owning a Home

Not only is owning a home a great investment for the future, but it also comes with numerous tax benefits that can help reduce the amount you owe when filing your taxes. Below are tax benefits you can take advantage of as a homeowner.

Buying a Home in the Current Market? Explore a Loan Less Dependent on Rates

A little over a year ago, the average 30-year fixed mortgage rate was just under 3%. Now, it’s trending several percentage points higher. This is the sharpest rate hike over the past four decades and comes as a shock to many home buyers and leaves them thinking it’s a bad time to buy. However, there is another alternative product, and if you use it correctly, it could actually be a great time to buy.

Market Update: Rates Rise; Case-Shiller Home Price Index, New Home Sales, and Pending Home Sales Coming Up This Week

Last week, mortgage rates continued their upward trend, but saw some hope at the end of the week. A big debate impacting current rate trends is the trajectory of the Federal Funds rate hikes. While the Federal Funds rate doesn’t directly set interest rates, it can influence trends. Right now, the bond market is debating whether or not the Federal Reserve can/will continue hiking the benchmark rate at the same pace. The past three rate hikes have been 75 basis points. Most rate hikes throughout history average around 25 basis points. The aggressive rate hikes of late are a tactic to combat against high inflation levels. Basically, the Fed has “remained very unfriendly toward rates,” writes Matthew Graham of Mortgage News Daily, and is waiting to see a change in inflation before changing its stance. Many experts believe the Fed can’t continue at its current pace; the consequence would be a huge negative effect on the national and global economy.

Home Sellers Are Cutting Prices at a Record High Rate

Relief is well on its way for home buyers struggling with rising mortgage rates. Earlier today, the Case- Shiller home price index showed that in August, home prices cooled at the fastest pace in history. On top of that, more than one in five sellers reduced their sales price in September. Both are strong signs of a shift in the market – a shift in favor of buyers.

5 Ways to Prepare Your Finances for a Recession

An economic slowdown is coming, according to countless experts. Consumers are becoming more concerned about the future state of the economy and the likelihood of another recession. Here are five ways you can financially prepare for a recession.

Market Update: Rates Rise; Case-Shiller Home Price Index and Construction Spending Coming Up This Week

Last week, mortgage rates trended higher after Federal Reserve Chairman Jerome Powell gave a short statement at the Jackson Hole Symposium. Additionally, the recent rise in rates this month are likely a larger correction to the fast downward trends we saw in July.

Home Buyers are Enjoying More Concessions from Sellers

Words unheard over the past two years – home buyers are enjoying newfound bargaining power. As demand dips and home inventory continues to climb, home sellers are agreeing to more repairs, lower down payments, and other concessions.

Wedding Or First Home: Which Is a Better Use of Your Money?

A wedding and a home are two of the most significant purchases someone will make during their lifetime. With couples funding their wedding becoming the norm, more couples are trying to figure out if they should spend money on their wedding or a down payment on a home.

How to Lower Your Interest Rate on an FHA or VA Loan

Housing affordability has become increasingly difficult in 2022 as home prices and mortgage rates have trended higher. Many buyers are eager to escape soaring rent prices but struggling to find affordable ways to buy a home. A couple of popular loan options for new buyers are FHA Loans and VA Loans. They’re generally easier to qualify for and offer more lenient underwriting requirements. Plus, you can now lower your monthly mortgage payments for up to three years with our temporary interest rate buydown for FHA and VA Loans.

Market Update: Rates Rise; Consumer Credit Coming Up This Week

Mortgage rates trended higher last week as traders digested more economic data that led them to believe July’s brief cooling was premature. Inflation data from overseas and stronger-than-expected jobs data from the U.S. were two large contributors. Inflation is the enemy of bonds (which influence rates) – regardless of whether it’s domestic or foreign. Higher-than-expected jobs data indicates that the economy is not cooling as expected in July. All things being equal, a weaker economy leads to lower rates. Due to the unexpected economic strength, rates saw a bit more volatility last week.

Don't Use Your 401(k) to Pay Off Debt -- Do These 7 Things Instead

It may be tempting to tap into your 401(k) to pay off higher interest debt like credit cards, auto loans, and student loans. But homeowners have a better option. Refinancing your mortgage can be a great opportunity to reset your finances without sacrificing your retirement savings.

5 Tips on Selling Your Home in a Shifting Market

The housing market is starting to look a lot different than it did at the beginning of the year. It’s shifting, and homes are no longer getting multiple offers over asking price before the agent can even get the sign in the yard. Are you looking to put your home up for sale soon? Below are five tips on how to sell your home faster in the current market.

How a USDA Loan Can Help You Buy a Home with 0% Down

High home prices and rising mortgage rates are putting hopeful home buyers in a difficult position. Buy now and try to save money in other ways? Or keep renting to avoid the upfront costs of buying? It seems like an impossible decision, but there are other options. Buying a home doesn’t have to mean spending thousands of dollars in upfront costs alone. There are countless home loan programs that offer closing cost assistance, below-market interest rates, and 100% financing.

Market Update: Rates Unchanged; Consumer Price Index Coming Up This Week

Mortgage rates ended last week relatively unchanged from the week before, or slightly lower in some cases. This week’s rate volatility could be higher as the consumer price index is scheduled for release and the Federal Reserve is it its usual public comment ‘blackout’ prior to the Federal Open Market Committee (FOMC) meeting next week.

Whether You're Headed Back to The Office or Working Remote, Here's How We Can Help

Labor Day has always been an unofficial end to summer. Pools have shut down, kids have headed back to the classroom, and larger companies now want their employees back in the office. After over two years of working remotely, many don’t share their employer’s desire. So what are your options?

Closing Day Checklist for Home Buyers

You are finally about to close on your dream home! As closing day gets closer you may be stressed that you may be forgetting something important for the big day. By making a closing day checklist, you can eliminate the stress and prepare for a smooth day. Here is a checklist of closing day must-haves.

Market Update: Rates Rise; Housing Starts and Building Permits, Existing Home Sales, and FOMC Announcement Coming Up This Week

Mortgage rates trended higher last week after the consumer price index showed much higher levels of inflation than what economists were expecting. The market was also preparing for the upcoming Federal Open Market Committee (FOMC) meeting later this week, which will reveal any increases to the benchmark interest rate. Oftentimes the market tries to predict any hikes the Fed might make and price itself for those changes.

It's Still a Good Time to Buy; Here's Why

Since the beginning of the year, countless articles have claimed that it's the worst time to buy a home. Their reasoning? Rising rates. “From an affordability perspective, this might be the worst time you could buy because mortgage rates have spiked quite a bit,” said Chistopher Mayer, co-director of the Paul Milstein Center for Real Estate and professor at Columbia University. This is the narrative dominating the industry right now. But rising rates are just the tip of the housing market iceberg. Below the surface, there are several encouraging signs for hopeful buyers.

5 Ways to Decorate Your Front Porch for Fall

With Fall right around the corner, this is the time that people start pulling out the Fall decorations. For many, this is the time to spruce up the front porch with pumpkins, straw bales, and more fun Fall decor.

Best Ways to Use Your Record-High Home Equity

Homeowners are gaining record amounts of wealth. According to a recent report by CoreLogic, Home equity has soared nearly 28% over the past year alone. That’s an average gain of $60,200 per homeowner. Now, the average homeowner now has $300,000 in home equity – an all-time high. What does this mean? How can you take advantage of the equity in your home?

How Your Rent Payments Can Help You Qualify for a Mortgage

One of the biggest obstacles for first-time home buyers is their limited credit history. Credit history is a big factor in the mortgage application process. However, we’re now offering an alternative solution for first-time buyers. With positive rent payment history, we can include your completed rent payments in the application process, which may help boost your overall credit assessment and allow you to qualify for a mortgage more easily.

Market Update: Rates Fall; New Home Sales and Fed Interest Rate Decision Coming Up This Week

Last week, mortgage rates trended down to two-week lows due to weak economic data in the U.S. and announcements from the European Central Bank (ECB). The Philadelphia Fed Index resulted in a chart that pointed to big economic weakness, which is good news for interest rates. The ECB also released an announcement about a new bond-buying program that will increase demand for specific European bonds. Generally, more bond demand leads to lower rates. Lower rates in Europe can influence rate trends in the U.S.

4 Ways to Avoid Overpaying in the Current Housing Market

Making offers higher than the asking price was routine during the pandemic. Because the market was so competitive, most people who wanted to ‘win the home’ would end up paying much more than the listing price. But as home buyer demand cools and home inventory climbs, overbidding will become much less common. If you’re looking to buy now, remember this isn’t the housing market from two years ago. You might not need offer more than the asking price, and here are four tips that can help you avoid it.

6 Tips on How to Reduce Greenhouse Gas Emissions at Home

Many parts of the world are experiencing extreme heat waves this summer. What are ways that we can help reduce the impact of heat waves at home?

Market Update: Rates Fall; Construction Spending and Jobs Reports Coming Up This Week

Mortgage rates took a sharp downward tumble last week after the Federal Open Market Committee (FOMC) announced another aggressive rate hike, and the GDP estimate showed another negative number for Q2 of 2022.

Home Prices Cooled at Fastest Recorded Pace in June

Black Knight analytics is bringing good news to home buyers. Home price gains are officially slowing down, according to the data firm.

Why Researching School Districts When Buying a Home is Important

When searching for a home, home buyers typically list out what’s important to them before beginning their home search. The top factors that most buyers look for are price, location, and a good neighborhood with amenities. And when it comes to location, school districts are a big consideration.

Market Update: Rates Unchanged; Consumer Price Index Coming Up This Week

Last week, mortgage rates trended higher. Throughout the week, they saw high volatility, fluctuating up and down. However, following the employment report on Friday morning, they began trending upward again. The employment report was overall better than expected – just not for the bond market. The number of jobs gains were higher than expected, but we are also seeing a reduction of output in terms of GDP specifically, which infers decreased productivity per worker. This is an inflationary signal, and the bond market (which influences rates), hates inflation.

Bidding Wars Are at a Two-Year Low; Should You Buy Now?

If you’ve been waiting for the market to cool, now might be your chance. The red-hot housing market is cooling off, just in time for Fall. Buyers have more options, more likelihood of price cuts, and less likelihood of bidding wars.

Is Now a Good Time to Sell Your Home, or Should You Wait?

Fewer buyers and declining home prices have sellers thinking twice about listing their homes. So is now a good time to put your home on the market, or should you wait? Unfortunately, it’s not a simple yes or no. But below are things that you can consider to help you make a decision. Here are some factors that typically sway people to list their homes.

Doing This Now Can Help You Save Up to $100,000 on Your Mortgage

Home prices, mortgage rates, and inflation are all cooling. But they’re still at higher levels than they were last year and the year before, making homeownership harder to achieve for some. Certain buyers are deciding to take a step back. Others can’t afford to wait. Regardless of where you are in the home buying process, there’s one thing that everyone can do to save money on your purchase.

Market Update: Rates Fall; NAHB Housing Market Index, Housing starts and Building Permits, Existing Home Sales

Mortgage rates trended lower again last week after the consumer price index showed positive signs of inflation cooling. Inflation has been soaring beyond 40-year highs, which has had negative effects on the bond market and therefore mortgage rates. So when the year-over-year consumer price index showed a drop in inflation, the markets reacted positively. This week, we have several housing reports scheduled for release.

How an Economic Slowdown Can Benefit Buyers (and How to Prepare Financially)

Many experts are predicting an upcoming economic slowdown. During times like these, people have historically tended to take a step back from the home buying process. But in today’s market, it could benefit certain home buyers to stay the course.

Budgeting Tips for Unexpected Home Repairs

Owning a home is an excellent investment but saving for unexpected expenses and repairs is essential. Even newer homes can have issues shortly after moving in. It’s highly recommended that you go into a new home with money saved for the unknowns and continue saving money yearly. Here’s how you can save for unexpected expenses and repairs.

Market Update: Rates Rise; Pending Home Sales and New Home Sales Coming Up This Week

Mortgage rates trended upward last week after new inflation data from the UK and Germany that was hotter-than-expected. Hotter inflation tends to mean higher rates – regardless of whether it’s abroad or domestic. Until inflation reports show more consistent trends lower, rates will likely continue their volatility. This week, we have important data coming in on new home sales and pending home sales.

Is Now a Good Time to Refinance?

For the past several months, headlines have said the refinance boom is over. Interest rates have been steadily rising since the beginning of the year. While many homeowners might think they missed their chance, nearly one million owners can still save over $3,500 per year by refinancing.

Why Now is Actually a Good Time to Buy

Lately, the media and news has been portraying the current housing market as a ‘bad time to buy.’ While home prices may be high, they’re set to stabilize soon. While mortgage rates are trending higher than two years ago, they’re not as high as their pre-2010 average. Now might be a better time to buy than you think, and the tables are starting to turn in favor of buyers.

The Mortgage Payment Buydown: The Secret Hack to Rising Mortgage Rates

Mortgage rates are trending higher, which will ultimately help stabilize the housing market in the long run. But that doesn’t make it any easier on your wallet right now. While a listing price reduction might help lower your monthly mortgage payments minimally, our Mortgage Payment Buydown Program can help you save more.

Market Update: Rate Fall; Pending Home Sales, Case-Shiller Home Price Index, and Construction Spending Coming Up This Week

Mortgage rates trended downward last week after a rally in the bond market following Federal Reserve Chairman Jerome Powell’s testimony. During his testimony, he subtly prepped the markets for the possibility of a slowdown. When the economy slows, interest rates typically drop.

Signs That the Housing Market is Normalizing, Not Slowing

Order is being restored in the housing market. Two years ago, mortgage rates sank, and housing activity boomed. Home buyers jumped at low rates and homeowners wasted no time refinancing. Now, activity is cooling off. Some are framing it as a ‘slowdown’ in housing. While this isn’t entirely inaccurate, it doesn’t paint the full picture of what’s going on in the market, nor does it highlight why a ‘cooldown’ is actually needed in the current housing environment.

5 Ways to Lower Your Closing Costs When Purchasing a Home

Closing costs are the final hurdle home buyers have when purchasing their new home. They are around 3% to 6% of the borrowed loan amount, which can be a significant amount on top of the down payment. Luckily most costs can be negotiated, which can help you lower the amount of money you will have to pay at the closing table.

HomeFundIt: An Easier Way to Fund Your Down Payment

Did you know that saving for a down payment is one of the biggest obstacles potential homeowners face? Many buyers who can afford a mortgage struggle to buy a home because of the upfront costs like a down payment. For some, saving for a down payment takes years – especially when home prices are high. With HomeFundIt™, home buyers can buy their home sooner with a larger down payment.

Market Update: Rates Fall; Job Openings Coming Up This Week

Last week, mortgage rates trended downward to reach their lowest level in over a week. A large contributor was the personal consumption expenditures (PCE) index, which is the Federal Reserve’s preferred method of measuring inflation. May’s PCE index revealed that spending was slightly cooler than expected. Inflation is the enemy of bonds, and mortgage rates closely follow the bond market. So, when the inflation numbers were better than expected, rates likely followed the bond market’s positive trend. Another factor was the Atlanta Fed releasing its revised GDP estimate for Q2 of 2022 following the PCE news. Prior to the index’s release, the estimate was around 0%. Then it dropped to -1% after the PCE news. When the economy shows signs of slowing, the bond market rallies, and interest rates typically trend lower.

Debunking Mortgage Myths in the Modern Market

It’s no longer 2020. Mortgage rates are no longer near record lows and home prices are still high. But that doesn’t mean you shouldn’t invest in a home. In fact, there are several encouraging signs in the modern market. Unfortunately, there are also several myths. Here are five modern mortgage myths, debunked.

New Home vs. Existing Home: Which is Right for You?

Buying a brand-new home is more appealing for many home buyers. But does ‘new’ always mean better quality? Here are some of the pros and cons to both new and existing homes.

Reverse Mortgages: How to Make the Best Use of Money in Retirement

As homeowners age, they begin to prepare for retirement. Most homeowners would prefer to be debt-free by retirement, but many still pay a mortgage. Reverse mortgages are one home financing option that is popular with homeowners who are 62 and older. But there are other options that can help you achieve a debt-free retirement.

Market Update: Rates Slightly Higher; Consumer Price Index Coming Up This Week

Last week, mortgage rates trended slightly higher from their one-month lows the previous week. After last month’s consumer price index release showed that inflation was still climbing, rates trended sharply upward. Later, the bond market rallied after the Federal Open Market Committee (FOMC) meeting and rates began trending lower. The consumer price index scheduled for release this week will be very important.

Experts Say That Home Buyers Are Gaining More Power

Over the past several months, home buyers have faced increasingly high prices and quickly rising mortgage rates. Affordability has become a large challenge, and low home inventory has left buyers few options to choose from. But signs of a tipping point may be here.

4 Factors to Consider When Determining Your Max Purchase Price

Buying a home is exciting, but it’s essential to determine how much house you can afford before starting the home buying process. Below are important factors to consider before you begin your home search journey.

Home Equity and Financial Safety: Which Loan Programs Can Help You Prepare for Uncertainty?

Economists are watching the jobs market closely for hints of a slowdown. In times preceding economic slowdowns, the unemployment rate will typically increase, quits rate will fall, and job openings will decline. During times of uncertainty, Americans typically search for more financial safety and less risk – bonds increase, stocks fall, etc. There are several home loan options that can help increase your financial safety as well.

Market Update: Rates Unchanged; NAHB Housing Market Index, Housing Starts and Building Permits, and Existing Home Sales Coming Up This Week

Last week, mortgage rates were relatively unaffected by the rising inflation levels reported by the consumer price index. Most people would typically expect a drastic shift higher in rates since inflation is the enemy of bonds, and the bond market influences rates. While rates did begin to trend slightly higher – it was not as big of a jump as expected. The cause? As inflation continues to climb higher in the current economic state, “the market increasingly sees [it] (and the Fed's necessary policy response) as resulting in recession,” writes Matthew Graham, COO of Mortgage News Daily. When economic activity slows (recession symptoms), rates tend to trend lower.

4 Things to Know About the Current Housing Market

2022 has been a whirlwind for the housing market. Mortgage rates have been steadily climbing since the beginning of the year, inflation has hit a 40-year high, and home prices are soaring. But it’s not all bad news. In fact, several market conditions are beginning to shift in favor of home buyers. Danielle Hale, chief economist at Realtor.com, shed some light with four things buyers should know about the current housing market.

5 Ways to Decorate Your New Home on a Budget

Moving into a new home is an exciting process, but sometimes decorating it can be an extremely daunting and expensive task. This can be especially true if this is your first home, or if you are moving into a bigger place and you need to buy additional furniture to fill the home. Below are five things you can do to help decorate your new home on a budget.

Mortgage Rates Are Rising Fast; Here's How to Get the Lowest One Possible

Since the beginning of 2022, mortgage rates have been trending higher at a shockingly fast pace. According to data from Freddie Mac, the average 30-year fixed mortgage rate was trending around 3.11% at the end of 2021. Now, it’s trending over two percentage points higher. Historically, this is one of the sharpest upward rate trends in 40 years. And many experts predict that rates will continue to rise. If you’re considering buying, don’t fret. Here are five tips that can help you secure the lowest mortgage rate possible.

Home Selling Checklist: 7 Things to Do Before Putting Your Home on the Market

Spring and early summer are some of the busiest home buying seasons. If you’re considering selling your home, there are several ways you can prepare it for the market. Below are seven steps to take before listing your home.

Lock N Shop: How to Lock in Your Rate Before You Find Your Home

Have you ever made a decision before you feel ready? When it comes to a decision as big as a home, it’s important to find the right fit. Don’t let fluctuating mortgage rates pressure you into buying before you’ve found the right home. Instead, consider Lock N Shop.

Market Update: Rates Drop; Case-Shiller Home Price Index and Construction Spending Coming Up This Week

Mortgage rates fell to their lowest level in over a month last week, according to the average data from Mortgage News Daily. One of the main causes for the downward trend is the continued declines in the stock market. Last week, there was a specific drop following the new home sales data. So, the silver lining of the seemingly poor trends in market-moving reports (like new home sales) is their potentially positive impact on rates.

Adjustable-Rate Mortgages Are on the Rise: Are They the Right Move for You?

Rising mortgage rates are pushing more home buyers toward adjustable-rate mortgages (ARMs). By March 2022, the ARM share dollar volume for conventional single-family mortgage originations was three times higher than its level in January 2021. Typically, ARMs start at lower mortgage rates than fixed-rate mortgages. This makes them an appealing option for many home buyers when mortgage rates and home prices are higher.

The Dos and Don'ts While Waiting for Closing Day

Your offer on your dream home has finally been accepted – but your work isn’t finished just yet. While it may be tempting to start purchasing new furniture and décor, it’s crucial to monitor your spending until your loan is fully approved. There are other financial aspects you will want to be aware of before you close. Below are six tips on what to do and what not to do while waiting for closing day.

What is an Adjustable-Rate Mortgage and How Can it Help You Save Money?

Not all mortgage rates are as high as you think. Typically, the 30-year fixed rate average is what most people notice when they see the current market rates. Most home buyers lock into a 30-year fixed-rate mortgage because of its consistency. But fixed-rate mortgages aren’t your only home financing option. In fact, they’re often pricier than some alternatives, like the adjustable-rate mortgage (ARM).

Market Update: Rates Trend Higher; Consumer Price Index Coming Up This Week

Mortgage rates trended higher last week after seeing favorable downward trends the week before. Several factors contributed to the rise. One simply is the volatility of the current market. “Any time anything in the market has been doing one thing bigger/longer than normal, odds of a rebound increase,” writes Matthew Graham, chief operating officer at Mortgage News Daily. Other contributors include China’s easing of lockdowns, data showing that the manufacturing sector was more resilient than expected in May, and markets predicting an aggressive stance from the Federal Reserve in its upcoming Federal Open Market Committee (FOMC) meeting.

Renovation Loans Are on the Rise

Mortgage rates have been sharply trending upward in recent months, causing many potential buyers to pick up their home hunting pace. Locking a mortgage rate now could prevent you from paying for a higher rate later, should they continue trending upward. However, home inventory is still very low – leaving buyers few options on the market. The newer, more updated homes are selling quickly, and for a steep price. But that doesn’t mean that all hope is lost. One financing option that’s saving the day for many is Renovation Loans.

Home Maintenance Checklist for the Summertime

Owning a home brings a lot of pride and joy but it also requires a good amount of maintenance throughout the year. Without the proper maintenance, your home may require more costly repairs down the road. The summer is a perfect time to take advantage of the longer days and start on your home's to-do list.

Market Update: Rates Rise; Fed Interest Rate Decision, Housing Starts and Building Permits Coming Up This Week

Last week, mortgage rates trended higher after announcements from the European Central Bank (ECB) and the release of the consumer price index for May. The US bond market reacted to an announcement from the ECB last week, which pushed mortgage rates higher. Additionally, the consumer price index showed that inflation is still climbing higher, which also caused a market reaction. Higher levels of inflation likely indicate that the Federal Reserve will raise benchmark interest rate by at least another 50 basis points in several of their upcoming meetings. To prepare for the upcoming Fed rate increases, the market mortgage rates are continuing to trend upward.

Home Equity is at an All-Time High; Should You Get a HELOC?

Many mortgage holders are sitting on a gold mine, according to data released last week by Black Knight. Tappable home equity – the amount of equity owners can borrow while leaving at least 20% in their home – soared to another record high in the first quarter (Q1) of 2022. With this growth, homeowners have even more financial power, security, and freedom. Common uses for tappable equity include home improvements, debt consolidation, unexpected expenses, and more. However, to access this equity, homeowners would need something like a cash-out refinance, home equity loan, or Home Equity Line of Credit (HELOC).

DIY Projects That Can Boost Your Home's Value

Are you thinking about putting your house on the market? Certain updates can help you maximize profits from the sale of your home. It may be overwhelming to think about the cost of renovations, but there are several medium-to-low-cost updates that can quickly boost your home’s value.

Introducing the All In One Loan" TX Homestead

Texas homeowners and buyers have enjoyed the benefits of second home financing with the All In One Loan™. Now, our All In One Loan™ (AIO) product is available for Texas primary residences (homestead properties) as well! If you’re a primary residence homeowner or buyer in Texas, the All In One Loan™ TX Homestead was made exclusively for you.

Market Update: Rates Fluctuate; Existing Home Sales, New Home Sales Coming Up This Week

Mortgage rates trended sharply upward near the beginning of last week as a response to the latest Consumer Price Index (CPI), which revealed that inflation is at its highest level in 40 years. Interest rates do not favor high inflation numbers. Typically, with higher inflation comes higher rates. And the release of May’s CPI proved no different. The market also heated up because the CPI was released right before the Federal Reserve decided on the future of the benchmark interest rate. Therefore, the Fed was in a “blackout period” – which means that the Fed members could not make any public comment on monetary policy. Without any guidance from Fed member comments, the market’s imagination went wild. Then, when the Fed released its announcement that it would raise the benchmark rate by 75 basis points, the bond market was actually relieved, which helped mortgage rates feel some relief and trend lower as well. By hiking the benchmark rate 0.75%, the Fed showed the bond market that it is serious about fighting inflation aggressively now.

Breaking Down the Last Week for Rates: Why the Fed Hike is a Good Thing

Last week the Federal Open Market Committee (FOMC) voted to make the largest benchmark interest rate hike in almost 30 years. The media has largely portrayed benchmark rate hikes as a bad thing for consumers. Last week proved the opposite – offering hope to home buyers, homeowners, and consumers alike.

Why HousingWire Lead Analyst is "Team Higher Mortgage Rates"

There’s no avoiding the recent headlines about rising mortgage rates. Simply put, mortgage rates have jumped significantly since the beginning of 2022. How significantly varies per lender, but in general, mortgage rates have been trending nearly two percentage points higher than December 2021. This has caused undoubtable noise from the housing market and likely concern from many hopeful homeowners. But housing experts like HousingWire’s Lead Analyst Logan Mohtashami see rising rates as a benefit for the housing market.

Money Moves to Make Amid High Inflation

One of the main consequences of skyrocketing inflation is often times rising interest rates. Raising the benchmark interest rate is one financial tool that the Federal Reserve uses to help curb inflation. However, there are several other effects that can come from higher interest rates. Here’s how higher rates can affect your wallet and how you can prepare.

Ins and Outs of the All In One Loan"

There are hardly any loans that can compare to the All In One Loan™ in United States of America. It’s the Smarter Way to Borrow™ that everyone is talking about. And it’s likely to become even more prominent in the housing market this year and beyond.

Market Update: Rates Rise; Construction Spending and The Fed Interest Rate Decision Coming Out This Week

Mortgage rates trended downward last week for the first time in nearly a month. Right now, “volatility is elevated [in the current market], and it has been for quite some time,” writes Matthew Graham of Mortgage News Daily. “Every time the rate market hits a new long term high, odds increase that we'll see some attempt at a counterattack in subsequent days.” Last week, the drop in rates was closely connected to the lockdowns in China, which caused a drop in global markets overnight, as well as a drop in oil prices.

A More Normalized Housing Market is Coming Soon

Last week, the housing market gained valuable insight from two key economic reports. The Case-Shiller home price index, released last Tuesday, showed that home prices are appreciating at a faster pace. The pending home sales index, released last Wednesday, revealed that home sale contract signings decreased again. While that may be the basic summary of both indexes, it’s not the full story.

How Reverse Mortgages Can Help Retired Homeowners or Buyers

You’ve spent years investing into your home and now it’s time to reap the rewards of your hard-earned equity. As you get older, you might be thinking about buying a home that better suits your lifestyle. But you also are probably thinking about your retirement funds.

Market Update: Rates Rise; Consumer Price Index Coming Up This Week

Mortgage rates trended upward last week for different reasons. Although the Federal Reserve hiked the benchmark interest rate, the market reacted more positively to Fed Chairman Jerome Powell’s statement that “the committee isn't even considering raising rates by more than 0.50% at any subsequent meeting,” writes Mortgage News Daily Chief Operating Officer Matthew Graham. Towards the end of the week, they began trending upward again. “In the case of the bond market, unwinding the Fed reaction meant crossing into territory that triggered additional selling,” writes Graham. “When traders are selling more bonds than they're buying, rate move higher, all other things being equal.”

Asian American Home Buying Accelerates Post-Pandemic

May marks the beginning of Asian American and Pacific Islander Heritage Month. In honor of the month, Realtor.com studied the trends in Asian American homeownership from March 2019 to December 2021. What the study found was that Asian American home buyers are the group that had the largest increase in the rate of homeownership in recent years.

6 Ways to Create the Perfect Outdoor Space

It’s that time of year again! Temperatures are starting to rise, which means people are beginning to spend more time outside. Is your outdoor space ready to start hosting your family and friends? Here are some tips on creating the perfect outdoor space that will prepare you for your upcoming outdoor gatherings.

How Our PLS Helps Investment Property and Second Home Buyers

Effective May 2, 2022, we officially launched our own Private Label Security (PLS). Remember when the Federal Housing Finance Agency (FHFA) increased upfront fees on second home and high-balance loans? With our own PLS, we can now help you avoid these fees and offer you a much better price on your second home/ investment property loan.

Market Update: Rates Trend Lower; NAHB Index, Housing Starts and Building Permits, and Existing Sales Coming Up This Week

Mortgage rates dropped to some of the lowest levels in two weeks towards the middle of last week. Typically, decreases that drastic only happen but once a year and are tied to some huge event happening in the market. But this year is a year like no other. The volatility alone in the 2022 market has spawned some dramatic climbs and tumbles for rates. Commenting on the drops from last week, Mortgage News Daily CEO and founder Matthew Graham writes, “It's a sign of 2022's times that there really weren't any glaringly obvious scapegoats for this particular drop in rates.”

Why Now is Actually a Good Time to Buy a Home

Nearly 75% of consumers told Fannie Mae that they think it's a bad time to buy a home. Historically low housing inventory, record high home prices, and sharply rising mortgage rates are the main headlines driving the sentiment. But the current headlines don’t always paint the full picture. Here’s why you should consider buying now vs. later.

5 Things to Look for When Touring a Home

Real estate is continuing to move fast, and often this means that you must move faster on a home that you are interested in than you would in a slower moving market. You must often decide if you will be putting an offer on a home within hours of touring it. It is essential to make your first tour count and know what key things to look for.

How Our On-Time Closing Guarantee Can Help You Make the Winning Offer

In a busy housing market, each day counts. With our On-Time Close Guarantee, you can get a head start on your mortgage underwriting, get an on-time close guaranteed, and compete in a crowded market.

Market Update: Rates Trend Lower; New Home Sales and Pending Home Sales Coming Up This Week

Last week, mortgage rates trended downward to hit three-week lows. Again, no huge contributing factor or obvious reason for the large sways in rate trends right now other than the extreme volatility of the current market.

Market Update: Rates Rise; Case Shiller Home Price Index, Construction Spending Coming Up This Week

Last week mortgage rates saw a sharp trend upward. Federal Reserve Chairman Jerome Powell spoke on Monday and discussed a more aggressive path with balance sheet reduction. The bond market reacted badly to this, which influenced a sharp trend upward in mortgage rates. This week, the Case-Shiller home price index is scheduled for release on Tuesday and the construction spending report is scheduled for release on Friday.

Home Prices Are Rising: Should You Increase Your Budget?

In February, the median sales price for an existing home was $357,300 – a 15% increase from February 2021. The rise in home prices combined with higher mortgage rates, limited home inventory, and steep home buyer competition are stretching many buyers beyond their budgets’ limits. To stand out in a competitive market, many will make an offer well above the sales price. But how high is too high when it comes to an offer? Here are some factors to consider when making an offer in the current market.

10 Songs to Play at Your Open House

Freshly baked cookies may be a long-lost tradition in the real estate world. But newer sales tactics are starting to gain popularity among some home sellers and buyers. Music can move people in many ways – bringing them to tears, energizing their workout, or providing a calming background tune during the workday. In recent years, some REALTORS® have harnessed the power of music to enhance buyers’ experiences at open houses. Some have found that this can help seal the deal. But if you’re going to try testing it out for yourself, there are a few keys to keep in mind.

Benefits of Purchasing a Multifamily Home

Unless you’re a seasoned real estate investor, it’s likely that you haven’t considered purchasing a multifamily home. At first glance, buying a multifamily home sounds much more expensive than a typical single-family purchase. Although yes, most multifamily homes have a higher sales price than comparable single-family homes, they actually could help you save money every month.

Market Update: Rates Fall; Consumer Credit Coming Up This Week

Last week, mortgage rates trended downward for the first time in several weeks. It began due to hopes that there would be de-escalation in Ukraine. With de-escalation would hopefully come reduced oil prices and easing upward pressure on inflation, allowing the Fed to ease their policy changes that could be negative influences for rates.

Why the Recent Jobs Report is a Good Sign for Housing

Last week the U.S. Department of Labor released its jobs report for the month of March. Initially, some of the numbers in the report appear to fall below many economists’ expectations. However, at a closer look it shows several encouraging signs for the housing market.

3 Essential Yard Care Tips for Spring

Caring for your yard has endless benefits for both your health and financial well-being. Studies have found that yard care and gardening can boost your mood and mental health, not to mention boost your home’s value a little. If you’re getting ready to warm up the lawn mower or start the watering hose, here are three tips to remember when caring for your yard.

How to Use a Cash-Out Refinance to Fund Your Next Purchase

Homeowners have been gaining record amounts of equity in recent years – giving them more financial power than ever. If you’ve been considering investing in more real estate, now might be the time to make your move with a cash-out refinance.

Market Update: Rates Rise; Consumer Price Index and Retail Sales Coming Up This Week

Mortgage rates trended higher last week largely resulting from comments by various Fed members. Three weeks ago, Fed Chairman Jerome Powell kicked off the upward trend with his comments about speeding up the interest rate hikes and balance sheet reduction. Then, last week, Fed Vice Chair Lael Brainard commented that Fed bond buying would be winding down significantly more. This made the markets react since she typically has more of a rate-friendly approach. More demand for bonds generally leads to lower rates. So with comments predicting a reduced bond demand from the Fed, mortgage rates reacted negatively.

Good News for Buyers as More Listings and Lower Prices Join the Market

Mortgage rates have been trending higher, housing supply has been painfully low, and home prices have been soaring to new heights. Little good news has spawned from the housing market in recent months. But recent reports are offering hope for many discouraged home buyers. According to Realtor.com and Redfin, more listings are coming up in the market and more home sellers are lowering their asking prices.

7 Features That Could Boost Your Home's Value

Not all of a home’s value is based on a curb appeal. In fact, some unusual features could actually attract more buyers and boost your sales price. In a study for Angi, formerly Angie’s List, researchers identified common features that people have in their homes that come with a nice price premium.

Pros and Cons of Adjustable-Rate Mortgages

In a rising interest rate environment, the numbers that you see can be intimidating. Especially if you’re used to record-low rates. Getting a fixed-rate mortgage in a high-rate environment can be intimidating. Once you close on your loan, you are locked into that interest rate unless you refinance. Another alternative – one that many homeowners and home buyers haven’t thought of in a while – is an adjustable-rate mortgage (ARM).

Market Update: Rates Trend Higher; NAHB Housing Market Index, Housing Starts and Building Permits, and Existing Home Sales Coming Up This Week

Mortgage rates fluctuated last week, ultimately trending higher by the end of the week. Much of the movement has to do with inflation levels and market predictions on what the Federal Reserve will do in its May meeting.

More Home Buyers Rush to Lock in Rates

Mortgage rates have been climbing at the fastest pace since 1994. Last week, the average 30-year fixed-rate hit levels not seen since 2009. Higher mortgage rates typically lead to fewer mortgage applications and originations. Last month proved the opposite. Despite rapidly rising rates, mortgage origination activity increased in March. But why? Could a mortgage rate lock be right for you?

Why Your Credit Score Matters When Rates Are Rising, and How to Improve It

Working to improve your credit score is always good idea, especially when preparing to buy a home. But when interest rates are rising, it may be even more important than you think.

Benefits of Financing Your Home with a Jumbo Loan

A Jumbo Loan is a mortgage that exceeds the Fannie Mae and Freddie Mac conforming loan limits. With a larger loan limit than conventional mortgages, jumbo loans allow you to finance more expensive properties. But there are several other benefits that may be lesser known.

Market Update: Rates Rise; Case-Shiller Home Price Index, Pending Home Sales Coming Up This Week

Last week, mortgage rates trended upward. The cause, which was well explained by Matthew Graham at Mortgage News Daily, “[has remained] relatively unchanged over the past several months and almost perfectly unchanged over the past 6 weeks. Specifically, the Fed was in the process of making a significant shift in its monetary policy stance between September 2021 and the present. This involved faster rate hikes and bigger steps toward reducing bond purchases.”

Market Update: Rates Fluctuate; Construction Spending Coming Up This Week

Mortgage rates were trending higher in the beginning of last week but shifted lower after the news in Ukraine. Typically, global turmoil is a factor that can help the bond market because people want to invest in safer options than stocks. The bond market is closely tied with mortgage rates, so mortgage rates benefitted as well.

What Experts Are Saying About Geopolitical Effects on Rates

Last week, the markets reacted to the news abroad. Treasury yields fell and mortgage-backed securities climbed, both signs of decreasing mortgage rates. When geopolitical crises arise, people tend to invest in safer options rather than stocks and head toward bonds instead. However, the effect on rates doesn’t end there. Depending on how the crisis evolves, it could also impact the already-high levels of inflation. Higher levels of inflation put the Federal Reserve in a difficult spot in terms of rate hikes. So it’s a fine balance between the pressures pushing rates higher and lower. Here’s what the experts are saying.

4 Tips for a Quick and Efficient Military Move

Getting new orders that require a move is not uncommon in the military. And when that happens, you likely will need to act fast and transition efficiently. To help you on your move, here are four tips.

How to Report Capital Gains on Your Home Sale to the IRS

When you sell your home, you will likely come out with a profit. While most of the profit is yours, part of it will go to Uncle Sam. This is a capital gains tax. To make sure you don’t give the government too much of your profit, follow these steps when filing your capital gains.

Market Update: Rates Fluctuate; Job Openings and Consumer Price Index Coming Up This Week

Mortgage rates saw a sharp downward trend near the beginning of last week. Then, on Wednesday, Federal Reserve Chairman Jerome Powell told Congress that the Fed still plans to bump up the benchmark interest rate in its March meeting – but only by 25 basis points. This sent mortgage rates back on an upward trend because the bond market doesn’t like inflation, and inflation levels are very high right now. One of the Fed’s tools to combat inflation is the benchmark interest rate. The higher the rate hike, the greater likelihood of lowering inflation.

Ukraine, Fed Rate Hikes, and Inflation: What's Moving Mortgage Rates and Why

Last week was a whirlwind for mortgage rates. On Monday and Tuesday, the average mortgage rate dropped more than almost any other 48-hour period in the past 10+ years. Then, on Wednesday, they shot right back up. Different factors are influencing rates drastically right now, pushing and pulling them in all different directions. However, they will likely begin to level out in the long run, falling into a more consistent and predictable trend.

10 Simple Steps to Make Spring Cleaning a Breeze

After a long, hard winter, many people welcome the signs of warmer weather. No more snow shoveling, driveway salting, and sitting in your freezing-cold car waiting for it to heat up. But with warmer weather also comes a dreaded task for many homeowners and renters alike—spring cleaning. If you’re having trouble making dents in your cleaning list, try these 10 steps to make it a little more doable (and maybe even enjoyable)!

Halal Financing Program: Accessible Homeownership for All

The Halal Financing Program is a home buying solution that can offer more buyers a path to homeownership. Through our partnership with the Ijara Community Development Corporation, we are one of the only companies in the nation to offer Islamic-compliant lending.

Market Update: Rates Rise; Fed Interest Rate Decision, Housing Starts and Building Permits, and Existing Sales Coming Up This Week

Mortgage rates trended higher last week as inflation hit another 40-year high and continues to face upward pressures from the conflict in Ukraine. Mortgage rates are largely dependent on trends in the bond market, and the bond market does not like inflation.

Homeownership Remains a Key Factor in Building Long-Term Wealth

A recent study by the National Association of REALTORS® (NAR) showed that homeowners have accumulated nearly $150,000 in housing wealth over the past five years. As home prices continue to rise, homeowners continue to benefit from rising equity.

5 Ways a Fed Rate Hike May Impact You

In 2008, the Federal Reserve lowered the benchmark interest rate to a level of near zero. This was the first time the benchmark rate had been this low. The second time was in March 2020. March 2022 will be only the second time that it has raised rates from near zero. So how will this jump affect you?

Understanding Our Desktop Appraisal Process and Benefits

During the COVID-19 pandemic, the top priority for many was keeping distance. Companies sent employees home, restaurants closed their dine-in service, and people began moving out of large cities to more spacious suburban areas. However, in the home buying/selling process, you will often want to take a tour, have an open house, and get an appraisal – all of which typically were conducted in person. But when the pandemic hit, the real estate industry adjusted. Many companies began advertising virtual home tours, e-sign documents, and desktop appraisals.

Market Update: Rates Rise; New Home Sales, Pending Home Sales Coming Up This Week

Mortgage rates trended up for last week, largely due to the Federal Reserve’s rate hike announcement. In its March meeting, the Federal Open Market Committee (FOMC) voted to hike the benchmark interest rate by 25 basis points, or 0.25%. While this hike was largely expected, the rate hike projections for the rest of the year were not. The new forecast projected seven rate hikes in 2022.

More Fed Rate Hikes Are Coming, and It Could Be a Good Thing

Last week, the Federal Open Market Committee (FOMC) voted to hike the benchmark interest rate for the first time since 2018. The hike comes after nearly two years of the benchmark rate sitting near zero. It was a hike of 25 basis points, or 0.25%, which brought the benchmark rate to a range of 0.25% to 0.50%. The increase was as expected, but other details of the Committee’s meeting were not – specifically, the number of projected rate hikes for the remainder of 2022. While the federal funds rate doesn’t directly dictate mortgage rates, the outlook for future hikes can affect their trends.

6 Signs That You're Ready to Buy a Home

Most people reach an age where they debate if buying a home is right for them. If you find yourself asking this question often, it might be time to evaluate if you’re really ready to buy a home. Here are six sure signs that will help you decide if you’re ready to transition from renting to owning.

How to Choose the Best Mortgage Fit

Shopping for a home is the fun part. Then comes the mortgage shopping. Conventional loans have long reined as the most popular type of home loan. But there are a few more options out there, such as FHA Loans, VA Loans, USDA Loans, Jumbo Loans, Renovation Loans, and all kinds of specialty programs. Not to mention the different loan terms and mortgage rate options. Deciding on what’s right for you may feel overwhelming, but with these five steps, you can find your perfect mortgage fit in no time.

Fed Rate Hikes Are Coming: What This Means and How to Prepare

For the past two years, home buyers and owners have been reaping the rewards of record-low mortgage rates. In March 2020, the Federal Reserve made an emergency interest rate cut, lowering the benchmark rate to near zero. As a result, mortgage rates dropped to historically low levels. By locking in mortgage rates while they are low, buyers and owners are drastically reducing their monthly payments saving thousands over the life of their loan. But last week, the Fed hinted that this is all about to change.

How to Tackle Credit Card Finances Before Rates Rise

In a rising rate environment, credit cards typically get hit the hardest. Interest rates on credit cards are generally much higher than interest rates on a mortgage. While average mortgage rates have been hovering between 2% and 4%, average credit card rates have largely been hovering between 15% and 20%. And credit card rates typically follow the federal funds rate much more closely that mortgage rates. So what should you do if a federal funds rate hike is coming?

Benefits of Taking Out a HELOC

Charging expenses to your credit card may seem easy, but it can cost you more in the long run.  Credit card interest rates are typically much higher than mortgage rates and maxing out lines of credit can be bad for your credit score. A good alternative to using your credit card is getting a Home Equity Line of Credit, or HELOC.

Market Update: Rates Inch Up; Consumer Price Index Coming Up This Week

Despite trending lower in the beginning half of last week, mortgage rates trended slightly higher toward the end. Foreign bond markets were largely the cause. On Thursday, the Bank of England (BOE) hiked its benchmark rates and the European Central Bank (ECB) hinted at a rate hike in its upcoming meeting. Consequently, foreign bond yields rose, and U.S. bond yields followed the trend. Mortgage rate trends closely follow bond yield trends.

Housing Wealth is Breaking Records for Owners and Sellers

The past two years have been kind to homeowners and sellers. Soaring home prices and booming home buyer demand have brought earnings to record-breaking heights. And while this year’s housing market might start to cool down, homeowners and sellers are still cashing in earnings.

4 Tips for a Stress-Free Home Search

The housing market goes through ebbs and flows of inventory levels. During a time of high buyer competition and low housing supply, you might find your home search a little more difficult. There will likely be fewer options in your price range and more buyers looking at the same house. If you’re searching for a home during a time like this, there are several ways you can help make the house hunting process smoother.

How a Renovation Loan Can Help You

Searching for an affordable home in a competitive market can be difficult. Not only are you competing with other buyers, but with high home prices as well. A good option that can help expand your home search is a renovation loan.

Market Update: Rates Rise; NAHB Housing Market Index, Housing Starts and Building Permits, and Existing Home Sales Coming Up This Week

Mortgage rates continued their upward trend last week. One of the main factors was the consumer price index, released on Thursday, which showed inflation levels not seen since 1982. With higher inflation levels, the Federal Reserve is more likely to raise the benchmark interest rate in March.

What Experts Are Saying About Rising Inflation

Last week, the consumer price index showed that inflation has surged to a 40-year high. Up 7.5% year-over-year in January, the index rose much higher than economists had expected. Have we seen the worst of it? What’s next for the Federal Reserve? What does this mean for you? Here’s what market experts have to say.

How To Tackle Tax Season as a Homeowner or Home Buyer

Everyone’s favorite season of the year is here. Not spring, summer, fall, or winter, but something even better – tax season! The deadline for filing your federal income taxes is in mid-April, but you can start submitting them now. Over the next several months, you’ll be receiving many different documents that you will need before, during, and after you file your taxes. If this is your first time filing taxes as a new homeowner or hopeful home buyer, make sure to be on the lookout for these important documents.

Renting vs. Selling: Which is Right for You?

When rent prices and home prices are both soaring, you might be faced with the tough decision: should you sell your home or rent it out? Both are good options, but before you decide, it’s important to consider the pros and cons of each scenario.

Market Update: Rates Rise; Case-Shiller Home Price Index, New Home Sales, Pending Home Sales

Mortgage rates trended higher last week as the momentum from the previous week continued. The main cause a couple weeks ago was the consumer price index, which revealed that inflation levels are at a 40-year high level. Consequently, more experts believe that the Federal Reserve will hike the benchmark rate in March.

What's Driving Mortgage Rates and Why Do They Need to Rise?

Mortgage rates have been consistently trending higher since the start of 2022. Recently, they reached levels not seen since before the pandemic. Many factors have contributed to the rise, and the effect has been a busy market. Homeowners are considering refinances, home buyers are pushing home inventory levels to an all-time low, and home builders are feeling decreasingly confident in the market outlook. But some housing experts argue that increasing mortgage rates aren’t actually a bad thing. In fact, they could actually help the market get to a healthier place.

Why Calculating Your Own Property Tax is Important

Paying your property taxes is an important part of being a homeowner. But just like any other tax, sometimes property taxes can overcharge. To make sure that you’re paying the right amount on your property taxes this year, it’s best to calculate them yourself.

5 Tax Deductions for Home Sellers

Tax season may not be your favorite time of year, but it does come with some perks. If you currently own a home or recently sold your home, you probably qualify for some decent tax deductions this year.

Market Update: Rates Rise; Consumer Price Index Coming Up This Week

Last week, mortgage rates trended upward as the Omicron outlook brightened and the Federal Reserve released its minutes from the December meeting. “Bonds feed on fear, turmoil, and risk aversion,” wrote Matthew Graham of Mortgage News Daily. When the economy has a negative outlook, interest rates for things like bonds and homes tend to fall. When the economy is stronger, mortgage rates trend higher. Another factor pushing rates up is the Federal Reserve saying that it ideally would raise the benchmark interest rate sooner than previously anticipated.

3 Ways to Save Thousands on Your Mortgage

Purchasing a home will likely be the largest investment of your life. While there are several actions you can take to lower the cost of your home upfront, there are also ways you can save money even after you’ve reached the closing table.

How to Pick the Right Type of Refinance

Refinancing your mortgage can be a great financial move for several different reasons. Depending on your financial goals, you can choose the refinance loan that suits your personal needs the best.

Market Update: Rates Unchanged; NAHB Housing Market Index, Housing Starts and Building Permits, Existing Home Sales Coming Up This Week

Last week, mortgage rates were initially trending higher than the previous week. During the latter half of the week, they began trending lower. The bond market is largely tied to mortgage rate movement, and over the past two weeks, bond market supply has been elevated. Higher supply typically translates to higher rates. Other factors pushing rates higher include the Federal Reserve’s minutes released last week, and the potential for the Omicron variant to help speed up the endemic phase of COVID. Factors pushing rates lower included a stabilizing bond market and steady improvement following the congressional testimony from Fed Chair Jerome Powell.

Home Sales to Reach 16-Year High; Buyers Have "Much to Look Forward to" in 2022

Mortgage rates may be inching up, but home buyers show no signs of slowing down. According to Realtor.com’s 2022 Housing Market Forecast, existing home sales are expected to surge 6.6% this year – bringing their annual total to a 16-year high. Despite challenges of affordability and availability, “home buyers have much to look forward to in 2022,” writes Danielle Hale, chief economist of Realtor.com

6 Tips to Help You Reach the Closing Table Faster

Mortgage lending has come a long way in recent years. You no longer need a 20% down payment and perfect credit score to secure a loan. There are several mortgage options with low down payment requirements and lenient credit score qualifications. What you do need for a smooth closing is honesty, cooperation, and trust. There are many steps in the mortgage process, but the most important factor in each is providing your lender all the information we need.

Select Lending Services Welcomes Nikki Meyerink as Joint Venture President

Select Lending Services is thrilled to announce the arrival of our new President, Nikki Meyerink. Nikki has been in the mortgage industry for nearly 20 years, with close to a decade of experience working directly within a real estate office. While working side by side with agents, Nikki was able to lead 30% of all closed transactions for her offices. It’s her goal to drive similar success for her agents and loan officers at Select Lending Services.

The Difference Between Prequalification, Preapproval, and Underwritten Approval

Buying your first home can involve a lot of different steps and terminology that might not sound familiar. You may have heard of mortgage preapproval. But what about prequalification? And underwritten approval? What’s the difference between these steps? We’re here to break it down for you and help guide you through the process every step of the way.

Market Update: Rates Rise; Case-Shiller Home Price Index, New Home Sales, and Fed Interest Rate Decision Coming Up This Week

Mortgage rates trended upward last week as the bond market continued adjusting to the Federal Reserve’s asset tapering plan. In December, the Federal Open Market Committee (FOMC) announced that it was speeding up its asset tapering in hopes of concluding the process in March. Soon after, the Fed will likely begin raising the benchmark interest rate. Right now, many traders are preparing for the eventual shift.

Purchase Activity Spikes as Home Buyers Rush to Lock in Rates

Spring might be starting early for this year’s housing market. Two weeks ago, mortgage application submissions for home purchases surged 8% – the largest weekly jump since September. As mortgage rates reach pandemic-highs, home buyers are eager to get a move on their purchases.

What to Look for in a Home Listing

In a competitive housing market, you might not be as picky about your choices. But there’s one factor to look at that could help you save money in the long run.

How to Make an All-Cash Offer Without Taking Out Cash

Standing out in a competitive market can be hard. Home prices are high, home inventory is low, bidding wars are rising, and all-cash offers are taking the cake. Most sellers favor all-cash offers but for many buyers they can be difficult to finance. With our Delayed Financing Program, you can give your offer the all-cash edge it needs and recoup your assets later.

Market Update: Rates Inch Higher; Construction Spending Coming Up This Week

Last week, mortgage rates trended higher after the Federal Reserve hinted at an interest rate hike in March. “The Fed’s announcement that it will ‘soon be appropriate’ to raise interest rates is a clear sign that a March rate hike is coming,” noted Michael Pearce, senior U.S. economist at Capital Economics. Although the benchmark interest rate does not directly set mortgage rates, it does influence them. When the benchmark interest rate dropped to zero two years ago, mortgage rates saw a similar downward trajectory. Now, in preparation for the Fed’s hike this Spring, rates are starting to inch up.

Market Update: Rates Trend Lower; Job Openings Coming Up This Week

Last week, mortgage rates trended lower during the beginning of the week as concerns surrounding the Omicron variant spread. Typically, when news about something that could affect the economy breaks, people look to put their money in bonds as opposed to stocks. When bonds improve, rates tend to fall.

3 Predictions for the Housing Market in 2022

After a frenetic year of rock bottom mortgage rates, steep buyer competition, and higher home prices, prospective buyers are wondering what they can expect for the housing market in 2022.  Here’s what to expect from the housing market as we usher in a new year.

How to Successfully Invest in Short-Term Rentals

Many vacation homeowners may choose to lease their second homes out as short-term rentals when they are not occupying the property.  Leasing a home as a short-term rental through a service like Airbnb or VRBO is a great way to earn extra income and offset some of the cost of homeownership.  In some popular vacation destinations, the prevalence of short-term rentals has led to restrictions and ordinances limiting rental activity.  For example, in Breckenridge, Colorado, city officials are currently trying to reduce the amount of licensed short-term rentals from 3,000 to 2,200 properties.

5 Questions to Ask Before Paying Off Your Mortgage

Entering retirement without any debt sounds ideal but rushing to pay off your mortgage might set you back more than you think. Before you rush to pay off your mortgage, ask yourself these five questions.

Market Update: Rates Rise; NAHB Housing Market Index, Fed Interest Rate Decision, and Housing Starts and Building Permits Coming Up This Week

Last week, mortgage rates trended upward as more hopeful news about the Omicron variant was released. When the economy is doing better, mortgage rates typically trend higher. The job openings report and consumer price index also came out last week – showing a very high number of job openings and inflation levels. When inflation levels get too high, the Fed can use some of its tools to bring them back down. One of those tools is raising the benchmark rate. Many experts expect the Fed to further discuss a plan to speed up their asset tapering process, which would push their rate increases forward.

Home Equity Surges to Record High -- Here's How to Put it to Good Use

Home price appreciation may be slowing down, but tappable home equity is still reaching new heights. According to the most recent Mortgage Monitor Report by Black Knight, Americans now have $9.4 trillion in tappable home equity. As a result, more homeowners are exchanging their equity for cash.

10 Financial Resolutions for the New Year

The third most popular New Year’s resolution is saving money. Though New Year’s Eve is still a few weeks away, we wanted to help you start the year off on the right foot. Here are ten tips to help you boost your personal finance next year.

How Home Equity Can Increase Your Financial Safety

While many home buyers dream of the day they can paint their own walls, have their own yard, and finally have a place to call home, they might be forgetting about the most beneficial perk of all. Home equity is one of the most valuable assets for many homeowners. Not only does it boost your net worth and increase your financial freedom, but it also can strengthen your financial safety net.

Market Update: Rates Unchanged; Existing Home Sales, New Home Sales Coming Up This Week

Last week, mortgage rates remained relatively unchanged following the Federal Reserve’s announcement saying that it would be doubling the size of the asset taper. Now the Fed will be reducing its asset purchases by $30B a month as opposed to $15B per month. At this rate, the tapering processes is expected to be completed by March 2022. This could poise the Fed to raise the benchmark interest rate as early as the Spring. So far, the Fed has done a good job at signaling its changes well in advance of announcing them, which has given the market time to prepare. This way, mortgage rates haven’t been reacting as strongly.

Fed Speeds Up Tapering -- How it Affects You and What You Should Do Next

Last week, the Federal Reserve announced that it would be doubling down on its asset tapering process. Previously, it was reducing its bond purchases by $15 billion a month, setting its projected completion date for June 2022. In light of recent inflation spikes, the Fed decided to speed up its tapering process and remove $30 billion in bond purchases per month. The new plan now puts the Fed’s projected completion date for tapering in March. What does this mean for you?

3 Credit Card Resolutions for Next Year

Your credit score is one of the most important factors when it comes to applying for loans, leases, or even cell phone plans. When determining whether or not to provide you a loan or lease, most lenders will assess your credit score and credit history. The best time to try and boost your credit score is well before you plan on making any important financial moves. So, to help you prepare for next year, here are three important habits that can help boost your credit score.

Market Update: Rates Rise; Case-Shiller Home Price Index, Pending Home Sales Coming Up This Week

Mortgage rates remained relatively unchanged last week. Many investors are waiting to see how the Omicron variant will develop over the holidays. This week, the Case-Shiller home price index is scheduled for release on Tuesday and the pending home sales index is scheduled for release on Wednesday.

Fed Changes its Stance on Inflation -- Here's How to Navigate Rising Prices

Inflation has been soaring at increasing paces. Prices according to the consumer price index hit almost 40-year highs when it came out earlier this month. Two weeks ago, the Federal Reserve redefined their assessment of the current inflation levels and are no longer using the word ‘temporary’ to describe them. When inflation is high, it can put a strain on your wallet. To help you weather the inflation storm, here is what financial planners are saying you should do with your money.

7 Tips to Help You Maximize Wealth at Any Age

Regardless of where you are in life, it’s likely that you have money on your mind. Whether you’re just getting your first paycheck, or getting ready to retire, you’re probably wondering about the best places to spend, save, or invest your money. Though the best financial advice is tailored to your individual situation, a few suggestions can help you at almost any stage in life.

Market Update: Rates Unchanged; Construction Spending and Job Openings Coming Up this Week

Mortgage rates were relatively unchanged last week. Many traders are monitoring the Omicron variant carefully and waiting to see how it will affect the economy. Kicking off the new year, both the construction spending report and job openings data are scheduled for release.

Home Inventory Set to Increase This Winter: Here's How to Prepare

Though the Winter season is typically cooler for the housing market, it looks like it’s about to heat up. According to a recent Realtor.com report, almost 50% of home sellers plan to sell in the next two months. Sixty-five percent of sellers plan to sell before April 2022. For home buyers, this could be a welcome relief from steep competition and high prices.

6 Ways to Improve Your Credit Fast

Your credit score is one of the most important factors in your loan application. Sometimes, building a credit score can take time, but there are some quick fixes that can help you boost your credit score fast.

How to Buy a Home with No Down Payment

Saving for a down payment can take years – especially if you want to avoid mortgage insurance. For some home buyers, this could mean missing out on your dream home, or spending more money on rent and not building equity. But if you’re trying to speed up your home buying process, there are a few options that can help you buy a home with little or no down payment.

What to Know Before Buying Your First Home

Buying your first home can be intimidating, and if you ask a lot of homeowners, they would’ve done certain things differently. To guide you in your first home purchase process, here are six quick tips that can save you time and money.

Market Update: Rates Fall; Consumer Price Index, Job Openings Coming Up This Week

Last week, the Federal Open Market Committee (FOMC) decided to leave the benchmark interest rate near zero. It also officially announced the tapering of asset purchases. Historically, this has pushed mortgage rates higher. So far, mortgage rates have not seen a drastic change following the announcements. In fact, rates saw a downward trend later in the week. The Bank of England announced its own policy adjustment last week which turned out to be more rate-friendly than our own central bank’s decision. As a result, the global markets reacted, and the U.S. lending rates improved. Some important economic reports coming out this week include the consumer price index, scheduled for release Wednesday, and the Job Openings and Labor Turnover Survey (JOLTS), scheduled for release Friday.

Home Sales Profits Reach Another Record High

Last week, property database ATTOM released its U.S. Home Sales Report for Q3 of 2021. The results of the report revealed that median-priced single-family homes had the highest profit margin in 10 years. It also showed that returns on sales rose at the fastest quarterly pace in seven years and fastest annual pace in over a decade.

Breaking Down Common Refinancing Concerns

If you haven’t refinanced your mortgage, it’s probably for a valid reason. Maybe you don’t think you would save enough or don’t think you would qualify. Whatever the reason, it’s likely that you’ve thought about it and come to a logical conclusion. However, it might be worth revisiting. Almost 14 million homeowners are passing up on hundreds of millions of dollars in savings for one of the following misconceptions.

Market Update: Rates Rise, NAHB Housing Market Index, Housing Starts and Building Permits Coming Up This Week

Mortgage rates trended upward last week. In the middle of the week, the bond market struggled. Interest rates are generally tied to the bond market, so if bonds have a bad day, mortgage rates will likely trend up too. One of the culprits was the consumer price index – a key inflation report – which showed inflation was at a higher-than-expected level. Bonds typically react badly to inflation.

More Americans Are Taking Advantage of Their Home Equity

As property values continue to rise, homeowners continue to gain more equity. According to Federal Reserve data, U.S. home equity reached a record high of $23.6 trillion in the second quarter of 2021. That’s nearly double the amount of home equity from the 2006 housing boom. But what does this really mean for homeowners?

How to Make Large Purchases Without Using Your Credit Card

Credit cards are useful for quick payments and things like monthly bills. But they often have higher interest rates than personal loans, which can make paying them off harder. If you’re thinking about making a large purchase (home renovation, household appliance, holiday gift), then you might want to explore your other options.

Government-Backed Mortgages Explained

The extensive list of different home loans can be overwhelming, especially for first-time buyers. FHA, USDA, VA – the acronyms can get confusing.  But they’re worth understanding because they could help you save thousands of dollars on your mortgage.

Market Update: Rates Rise; Existing Home Sales, New Home Sales Coming Up This Week

In the former half of last week, mortgage rates saw a slight upward trend after the release of more reports showing strong economic performance. On Tuesday, the retail sales report showed a 1.7% increase in October – the strongest monthly retail sales data in several years. Typically, when the economy grows stronger, interest rates trend higher. However, “In the bigger picture, rates are still [trending] very low,” said contributors at Mortgage News Daily. Coming up this week, both the existing home sales and new home sales report are scheduled for release.

What the Experts Are Saying About the Current Housing Market

To buy or not to buy? Many hopeful homeowners are wondering. While some signs in the housing market might push you toward, “it’s the perfect time to buy,” others might make you feel, “maybe I should wait.” Home prices are rising, but mortgage rates are trending at generally low levels. So, what do you do? Some people decide to trust their gut, but we decided to trust the experts. Doug Duncan, Fannie Mae’s senior vice president and chief economist, weighed in on the market and whether it’s the right time to buy.

9 Quick Ways to Decorate Your Home for Thanksgiving

You’ve called the family. Your kitchen is cleaned and ready to go. You have the turkey, mashed potatoes, gravy, cranberry sauce, and all your favorite baking ingredients. Everything’s ready for you to host Thanksgiving at your house. But what about the decorations? The table centerpiece? The placemats? In case you need some last-minute help with festive décor, here are nine quick DIY projects that can help spice up your home’s Thanksgiving vibe.

Market Update: Rates Trend Higher; Pending Home Sales, Case-Shiller Home Price Index, Construction Spending Coming Up This Week

Last week, mortgage rates trended higher in reaction to the bond market. Typically, when the bond market is weaker, mortgage rates trend higher. The bond market saw its first pair of challenges early in the week with the re-nomination of Federal Reserve Chairman Jerome Powell. Though the re-nomination was largely expected, some hoped for the nomination of Fed Governor Lael Brainard. Brainard was viewed as a rate-friendly choice. Powell, however, has successfully navigated two years of the coronavirus pandemic. Additional bond pressure came from the Treasury auctions.

Rental Rates Rise at Record Pace -- Is Now the Time to Buy?

A recent report from CoreLogic showed in September, rents for single-family homes increased 10.2% year-over-year nationwide, up from a 2.6% annual increase in September 2020. The economic rebound powered by strong job growth, plus a record low level of single-family rental vacancies, will likely continue to push rental rates up.  Home prices are rising as well but choosing to buy now rather than continuing to rent gives you the opportunity to lock in a record-low mortgage rate, build valuable home equity, and escape the volatile rental market.

The Cost of Aging in Place

When you approach retirement, you’ll be faced with the decision of whether to stay in your home or move.  Many retirees choose to downsize or move from a single-family home to a townhouse or condo.  Others choose to renovate their current home to accommodate expected life changes.  If you’re considering whether you’re going to stay in your home or move when you retire, make sure to account for all the expected costs.

5 Red Flags to Watch for with Your Real Estate Agent

In today’s busy market, working with the right real estate agent is critical to moving fast and getting your offer accepted.  While your real estate agent can’t change the floorplan or location of your home, they can make the home buying process easier.  If you’re working with an agent and you’re not sure if it’s helping, here are five red flags that might signal it’s time to hire a new agent.

Breaking Down the Fed's Minutes: What's Next and What Does it Mean for You?

Last Wednesday, the Federal Open Market Committee (FOMC) released its minutes from the September meeting. Not surprisingly, the minutes showed a collective opinion from Committee members that tapering asset purchases would be appropriate given the economy’s progress. Somewhat surprisingly, the Fed changed its take on inflation and now believes it could remain elevated throughout next year. It previously thought that inflation was temporary. Almost all Fed members saw substantial progress toward maximum employment. Both inflation and maximum employment were two benchmarks that the Fed was using to determine when a taper would be appropriate. Many members thought that tapering could begin as soon as next month. But what does this actually mean for you and how does it affect mortgage rates?

Retirees and Inflation: How to Retire When Prices Are High

In the mid-1960s, it cost $1 to buy a movie ticket, $.30 for a gallon of gas, and $20,000 to buy a home. Today, it costs around $10 - $20 to buy a movie ticket, an average of $3.27 for a gallon of gas, and approximately $357,000 to buy a home of median value. To some extent, rising prices are a natural part of a progressing economy. Everything stabilizes when wages keep up with the increased cost of living. But what happens if you’re not receiving wages at all? For some people, rising inflation costs might be less concerning; but for those who are retired or planning to retire soon, it can be slightly more worrisome.

How to Budget for Your First Home Purchase

A lot goes into buying your first home. At first, it can be an intimidating process, but with the right guidance it can go by smoothly. If you’re considering buying your first home, there are a few things you should keep in mind when making your home budget.

Market Update: Rates Rise; Case-Shiller Home Price Index, New Home Sales, and Pending Home Sales Coming Up this Week

Last week, mortgage rates trended upward. Even though existing home sales and home builder sentiment showed growth, rates continued their upward momentum. “There really isn't any great, short-term explanation for the incremental [increases],” noted Mortgage Daily News contributors. Rates have simply been carried by an upward momentum since the Fed hinted at tapering assets in November or December. Unless the economic outlook or COVID recovery drastically changes over the next few weeks, it’s likely the Fed will begin the tapering process.

Housing Starts Data Shows Positive Signs for the Market

Last week, the U.S. Census Bureau reported that housing starts and building permits saw respective declines of 1.6% and 7.7% in September. Typically, this data would have negative connotations for buyers and builders alike. A slowdown in housing starts can suggest a slowdown in construction – which is the last thing the real estate industry would need right now. Home prices are already soaring, and if housing construction slows, this could put even more upward pressure on prices. Luckily, the month-over-month construction data is only telling a small part of the overall story. The long-term data shows a much more positive trend.

Helpful Tips to Protect Your Home on Halloween

Don’t let the adorable zombies and witches fool you. There can be some real monsters out there on Halloween. According to Travelers Insurance, crime-related insurance claims spike by nearly 25% on October 31. This is a bigger claims spike than any other day of the year. Luckily, with a few simple home-protection tricks, you can focus on the real treat of Halloween.

9 Loan Programs for First-Time Home Buyers

Saving for the down payment is one of the biggest hurdles for first-time home buyers. But with the help of low down payment loan programs and down payment assistance, you can be home sweet home in no time.

Market Update: Rates Fall; Construction Spending, Fed Interest Rate Decision Coming Up This Week

Last week started with mortgage rates trending higher but they quickly trended lower towards the middle of the week. The bond market showed similar trends. Typically, mortgage rates follow the patterns of the bond market. Right now, the biggest influencer on the bond market seems to be the Federal Reserve and its bond buying program. Ever since the Fed hinted at tapering assets soon, the bond market has shown more hesitation. Consequently, mortgage rates have generally trended upward.

Federal Reserve Data Shows Housing Market is Still Strong

The housing market has been fueling the economy since the beginning of the pandemic. When other industries tumbled, the housing market boomed. Mortgage rates sunk to historic lows, buyers and owners jumped to purchase or refinance, and home sales soared to 15-year highs. A year and a half later, the real estate industry is still booming. Though some may fear that it has reached its peak, the housing market is going strong.

How to Save Money While Aging in Place

Many working-age people dream of the day that they can someday retire on a sunny beach. But as we get older, it seems that our preferences and priorities change. According to AARP, more than 75% of adults aged 50 and above prefer to stay in their current home. It’s natural to want to stay in an area close to family and friends. However, maintaining a home in retirement can be a difficult and costly endeavor. Luckily, there are ways you can prepare for these financial adjustments.

Tips for Avoiding Severe Water Damage in Your Home

Cleaning gutters, raking leaves, shoveling snow, and changing furnace filters are all a part of the American Dream. You may not have heard it on commercials or seen it in magazines, but home maintenance is a big part of homeownership. If you’re a new homeowner, you might feel overwhelmed by the new responsibilities. If you’re a seasoned expert, you might just be getting tired of the upkeep. Home maintenance can be a lot to handle. And if you’re thinking of cutting some corners or avoiding some maintenance duties, just make sure that you keep doing the ones that will help prevent water damage.

A Step-by-Step Guide to Downsizing as a Retiree

Change can be hard – whether you’re a first-time home buyer adjusting to home maintenance or a retired homeowner moving to a smaller place. Going from what you’ve known to something new isn’t always easy – especially if it’s what you’ve known most of your life. Downsizing homes as a retiree can almost feel like you’re a first-time home buyer all over again. But in a few simple steps, you can go from experienced homeowner to successful home seller in no time.

Market Update: Rates Rise; Case-Shiller Home Price Index, Pending Home Sales, and Construction Spending Coming Up This Week

Last week, the Federal Open Market Committee (FOMC) decided to leave the benchmark interest rate unchanged. However, more members predicted that the first rate hike will occur next year as opposed to 2023. Consequently, mortgage rates reacted by trending higher. In his press conference last week, Federal Reserve Chairman Jerome Powell mentioned that the “test for substantial further progress on employment is all but met therefore a gradual tapering process that concludes around the middle of next year is likely to be appropriate.” A large deciding factor will be the upcoming jobs reports next month.

Despite High Home Prices, Buyers are Still in a Good Financial Position

Home prices have been skyrocketing over the past year. In July, the Case-Shiller home price index reported a 19.7% annual gain – shattering its previous record. In August, the median existing home sales price was up 15% annually. Still, home buyers have not been deterred. Home buyer demand, although not as hot as it was peak pandemic, is still soaring. Despite record-high prices, home buyers aren’t paying for more home than they can handle.

7 Ways Every Homeowner Can Prepare for the Fall

It’s hard to believe that Fall is already here. The leaves are changing colors, the weather’s getting cooler, and the excitement for the holidays is already building up. Though Fall has already begun, it’s still early in the season, and there are still several ways you can prepare your house for what’s to come.

What is Down Payment Assistance and How Can it Help?

One of the biggest hurdles for first time home buyers is saving for a down payment. When you buy a home, you pay a lump sum of money upfront – known as the down payment. The amount you put down is generally up to you, depending on your credit score and other qualifying factors. On average, first-time home buyers make down payments of around 6% of the loan amount. For a typical starter home of $148,527, this would be $8,912. Saving nearly $9,000 isn’t easy for most first-time buyers. But there are several options that can help you reach that goal.

Market Update: Rates Rise, ADP Employment and Employment Situation Coming Up This Week

Mortgage rates continued their upward trend last week as the bond market continued to lose ground. When the bond market is weaker, rates are typically higher. Largely, the bond market has been losing ground since the Federal Open Market Committee (FOMC) meeting two weeks ago. After that meeting, the Federal Reserve showed increasing resolve about their plan to taper assets and raise rates in the near future. Consequently, the bond market reacted badly and hasn’t shown significant improvement yet, though

3 Reasons Why Now is the Best Time to Buy a Home

The best week to buy a home is here. According to Realtor.com’s Best Time to Buy Report, the week of Oct. 3 – Oct. 9 is the most optimal time of year to buy. The report analyzed data from the Top 50 Largest Metro Areas across the country and determined the best week to purchase a home for each. Though some areas hit their peak in the beginning of the year, most of the markets will hit their “home buying sweet spot” between Sept. 12 and Oct. 17. This time was ranked the best because you’ll likely see more homes on the market, less competition, and lower sales prices.

How to Protect Yourself from Cybercrime

Every year, Americans lose billions of dollars to cybercrime. In 2020, cyber criminals stole over $210 million from home buyers alone. Real estate wire fraud is one of the fastest growing schemes in the United States. Hackers often target people transferring large amounts of money like down payments. But don’t worry. It doesn’t mean that your transaction isn’t safe. It just means that you need to take a few extra precautions along the way.

What to Expect When You Close on a Home

Closing on a home is an exciting start to a new future, and it’s a huge accomplishment. If you’re about to close on a home of your own – congrats! We’re sure you can’t wait to move in and start enjoying life as a homeowner. Before you do, there are a few important steps of the closing process left.

Market Update: Rates Rise, Job Openings and Consumer Price Index Coming Up This Week

Mortgage rates trended upward again last week with some weakening in the bond market and strong job reports. When the bond market is weaker, rates tend to be higher. The ADP employment report showed a stronger-than-expected number of nonfarm jobs hirings. Friday’s job reports, however, showed lower-than-expected results. Therefore, the bond market volatility seemed to level out by the end of the week but may heat up again this week.

CMG Financial Increases Conforming Loan Limits

As home values continue to rise, CMG Financial is making it easier for you to purchase the home of your dreams. As of 10/12/21, we have increased our conforming loan limits to make buying a home more accessible to more home buyers.

What to Do Before the Next Federal Reserve Meeting

The next Federal Open Market Committee (FOMC) meeting will take place on Nov. 2-3, 2021. And this one could be big. FOMC meetings were relatively mundane for about a year and a half. The benchmark interest rate remained near zero, asset purchases stayed strong, and the Federal Reserve was “committed to using [its] full range of tools to support the economy,” said Federal Reserve Chairman Jerome Powell. Now, the economy is in a much better place, and many economists believe that the Federal Reserve is about to shake things up.

Should You Trust Online Home Price Estimates?

In the age of Zillow and Zestimates, it can be difficult to discern what’s real and what’s not. Online home price calculators like Zillow’s Zestimate tool and Redfin’s Estimate calculator can give you a rough idea of how much a home is worth. This can help sellers get an idea of their market value and buyers determine what’s in their budget. However, it shouldn’t be the sole factor influencing your sales price or home offer.

Closing Costs Explained

When you purchase a home, you don’t typically pay for the whole thing upfront. This is why people get mortgages loans. Once you close on your loan, you will begin making monthly mortgage payments that will pay for your home little by little. When you originate a loan, you will be required to make some initial payments upon your closing. One is the down payment. The other is your closing costs. Though you will get a full breakdown of all of your closing costs in your initial loan estimate and final closing disclosure, here’s a quick overview of the most common closing costs you can expect.

Increased Conforming Loan Limits Now Available

As home values continue to rise, we’re making it easier for you to purchase the home of your dreams. As of 10/13/21, we have increased our conforming loan limits to make buying a home more accessible to more home buyers.

Market Update: Rates Fall, NAHB Housing Market Index, Housing Starts and Building Permits, and Existing Home Sales Coming Up This Week

Last week, mortgage rates trended downward after a few strong days in the bond market. When bonds – specifically mortgage-backed securities (MBS) – show more strength, mortgage rates tend to fall. The Federal Open Market Committee (FOMC) also released its minutes from the September meeting, revealing a unanimous opinion that it was time to begin tapering assets.

Pros and Cons of Pocket Listings

Pocket listings – often called exclusive listings or off-MLS listings – are essentially properties that are sold by word of mouth instead of the MLS system. The MLS, or multiple listing service, is an online database where real estate agents register different homes for sale. Once an agent puts a house into the MLS, the listing is automatically shared with other agents and sites such as Redfin, Zillow, and Realtor.com. “A pocket listing is essentially a privately sold home,” says Amber Taufen, managing editor at HomeLight’s Buyer Resource Center. “Buyers need to have some sort of connection to the brokerage, the listing agent or the home seller in order to hear about the property.” Why would a seller want fewer buyers making offers on their home?

Market Update: Rates Unchanged, Existing Home Sales and New Home Sales Scheduled for Release

Last week, mortgage rates remained relatively unchanged. Near the middle of the week, they started inching up in reaction to the Fed’s July minutes – released on Wednesday. Though no key decisions were made during the Fed’s July meeting, traders are still nervous about future decisions related to assets and rates. The traders’ anxiety resulted in bond market weakness, which typically implies higher rates. In the latter half of the week, the bond market began to improve, pushing rates downward once again. By the end of the week, rates were largely unchanged from their levels the week before.

Mortgage Trends That Will Define Housing During the End of 2021

Throughout real estate history, mortgage trends have commonly corresponded with the overall trends in the housing market. If mortgage rates are improving, then it’s likely that the real estate industry is doing the same. For the remainder of 2021, there are three key trends that will have an impact on the industry – inventory issues, fluctuating interest rates, and increased technological advances.

Common Reasons Your Credit Score Might Drop, and How to Avoid Them

When you first start building credit, your payments are likely relatively simple – gas, food, rent etc. But the older you get, the more the bills pile up. Soon, you’re paying for medical expenses, trips, home repairs, clothes, and more purchases than you remember. Still, you pay your bills at the end of the month and check your credit score every so often. Normally it might hover in the same range, but a common shock for credit borrowers is when your score drops unexpectedly. Because your credit score affects your ability to qualify for other financial products, seeing a sudden decline can be disconcerting for most. If you’re wondering what might have gone wrong (and what to be aware of in the future), here are six common causes for a falling credit score.

How to Lower the Costs of Refinancing

Refinancing your mortgage can save you thousands of dollars over the life of your loan. However, it will come with closing costs that can add up quickly. Before refinancing, make sure that you have a good plan that will pay off your closing costs with your refinance savings. Explore different options that can help lower the price of your closing costs and save on your overall refinance.

Market Update: Rates Trend Higher, Pending Home Sales, Case-Shiller Home Price Index, and Construction Spending Scheduled for Release

Mortgage rates trended slightly upward in the beginning of last week after some strong home sales reports. Additional rate influencers include falling bond prices and rising yields from the week before. Toward the end of the week, core inflation rose again according to the PCE index and Fed Chair Jerome Powell delivered a speech at the Jackson Hole Economic Symposium. In his speech, Powell noted that ‘substantial further progress’ has been met for inflation and employment has improved notably as well. Ultimately, he sees the tapering of asset purchases to begin at the end of the year, however there is “much ground to cover” before the Fed raises rates.

Housing Market Heat to Continue this Fall

In a normal housing market, home sales would begin to slow down around the beginning of Fall. However, the world has been far from normal over the past 18 months. When the pandemic began, many experts believed that the housing market would suffer. But it turned out to be an economic life raft for the U.S. – thriving with eager buyers and owners looking to take advantage of record-low rates. Since then, home sales have been consistently soaring despite seasonal changes. Almost two years later, many people are wondering, when will it end?

What to Know About the Rising Costs of Flood Insurance

Every year between June 1 and November 30, hurricane season takes the Atlantic and Gulf Coasts by storm. Power outages, uprooted trees, ruined buildings, and high flooding all cause billions of dollars in damages to towns and nearby homes. In 2020, Hurricane Laura cost a total of $19 billion. Six weeks later, Hurricane Delta struck the same area, adding another $2.9 billion in damages. While there’s not much that homeowners can do to prevent storms, they can prevent the costs from stacking up.

How to Buy a House While Paying Off Student Loans

Millennials have been the generation with the most home buyers since 2014, followed by Gen X. As of 2021, Gen X has been the generation with the most student loan debt, followed by Millennials. Many people sitting on the home buying sideline might think that they can’t purchase a home because of their student debt. However, the two generations with the most debt are also the two generations that purchase the most homes. While having student loans might make the home buying process slightly more challenging, it certainly shouldn’t prevent you from applying. By taking some of the following steps, you can increase your chances of mortgage approval and better prepare for your home purchase.

Market Update: Rates Unchanged, Job Openings Coming Up This Week

Mortgage rates were trending lower toward the beginning of last week and started trending higher towards the latter half of the week – leaving them relatively unchanged from the week prior. Not much happened in the bond market last week until Friday’s job’s report – which came in much lower than expected. Economists predicted nonfarm payrolls to increase by over 700,000 in August, but they only grew by 235,000. The limited growth likely reflects the rising concerns and restrictions with the Delta variant. Job growth is a key factor that the Fed is watching to determine when to taper their asset purchases. While the Fed had previously expressed optimism about the job gains, they could reassess their tapering timeline if jobs data continues to slow down.

Survey: Most Homeowners Are Missing Out on Significant Savings

Since the beginning of the pandemic, mortgage rates have been hovering near historic lows – fueling the red-hot housing market with millions of eager buyers. From 2019 to 2020, a record 2.1 million buyers became owners, matching the largest increase from 2003 to 2004. Home buyers are taking full advantage of the record low rates. Homeowners, on the other hand, are still missing out on the opportunity of a lifetime.

What to Know About Insurance and Wildfires

Over the past several years, the severity and size of wildfires across the U.S. have increased at an alarming rate. In 2020, nearly 40,000 forest fires destroyed 4 million acres of land. In California alone, almost 500,000 homes are located in wildfire zones – as are millions of other homes across the country. But many homeowners are unaware of their risk – leaving them vulnerable for hundreds of thousands of dollars in damage.

What is an Acceleration Clause and How Can You Avoid It?

Whenever you sign a contract, it’s important to read it thoroughly before signing on the dotted line. It can be a lot of reading, but when there’s as much money involved as a mortgage, you want to make sure you know all the rules. One rule that’s often overlooked in a mortgage contract is the acceleration clause.

Market Update: Rates Unchanged, Consumer Price Index, Retail Sales Coming Up This Week

Mortgage rates trended higher toward the beginning of last week and lower toward the end of the week – creating little change in their levels from the week before. A strong 10-year Treasury auction and 30-year bond auction contributed to the rate improvements for many lenders. Treasuries and mortgage-backed securities are both good indicators for mortgage rate trends. Typically, when the prices of mortgage-backed securities rise, mortgage rates fall. When Treasury prices rise, mortgage rates tend to rise as well. Mortgage rates also reacted well to the European Central Bank’s announcement that they were reducing their bond buying efforts by a smaller amount than was expected. This week, there are few housing-specific reports, but a couple of important consumer-specific reports that tend to reflect the economy’s strength and influence rates.

Tappable Home Equity Reaches All-Time High: Here's How to Take Advantage

Last week the Data & Analytics division of Black Knight released its latest Mortgage Monitor Report – revealing a record-breaking amount of tappable home equity. Tappable home equity is the amount of money that homeowners can cash-out while keeping their remaining equity at or above 20%. According to the data analytics company, homeowners have an astounding $9.1 trillion in tappable home equity. What does this mean for you?

What to Know About Home Insurance for Second Homes

Second homes used to be a sort of escape for many Americans. Getting out of town, away from the office, and heading to the beach to feel some fresh breeze or visiting the mountains to be surrounded by trees instead of high rises. Now, second homes are starting to climb their way into the starting lineup. With the increasing flexibility to work remotely and the decreased desire to head back to crowded spaces, many people have extended their stay in a second home…permanently. If you do have this flexibility, that’s great. But if you decide to stay at your second home longer than a typical vacation, then you might want to consider updating your home insurance coverage.

5 Ways to Tell If a Home is Overpriced

With surging home prices, high buyer demand, and low housing inventory, the market can become a feeding frenzy for eager buyers looking to lock in low mortgage rates. Sellers list their homes at higher prices and buyers make offers that are tens of thousands of dollars over asking price to compete. But even in a seller’s market, there comes a point where the price of a home simply outweighs its worth. Here are five ways to determine if a home is overpriced.

Market Update: Rates Unchanged, NAHB Housing Market Index, Existing Home Sales, Fed Interest Rate Decision, New Home Sales

Mortgage rates remained relatively unchanged last week. At the beginning of the week, rates were flat, until the release of the consumer price index (CPI), which sent rates slightly lower. When data suggests an improved economy or hotter inflation, rates typically trend higher. When reports suggest that the economy and inflation are cooling off, rates tend to trend lower. The CPI showed that inflation decelerated more than expected. Then, the underlying bond market showed promising signs as well, which continued rate improvements. However, bonds eventually started losing steam in the middle of the week, leveling out rates once more.

Home Prices and Home Buyer Competition are Cooling Off

If you’ve been sitting on the home buying sidelines, now might be your chance to jump in. According to real estate brokerage Redfin, both median home prices and pending home sales were down in early September – signaling a potential opportunity for some buyers to save money and still make the winning offer.

Market Update: Rates Drop Sharply, Coming Up This Week: New Home Sales, Case-Shiller Home Price Index, and the FOMC Meeting

Mortgage rates continued to drop last week in reaction to the Adverse Market Refinance Fee removal. An additional influence on the rate trend was the significant improvement in the bond market. The combination of these two factors pushed rates for the average lender to their lowest range since February. There are also several important reports scheduled for release this week that could have an impact on rates and the housing market.

How Biden's Neighborhood Homes Proposal Could Help Real Estate Investors

At the end of May, HUD Secretary Marcia Fudge introduced details of President Biden’s $2.3 trillion infrastructure proposal dubbed the “American Jobs Plan.” A large part of this plan is the proposed $318 billion dedicated to housing investments. Additionally, the Biden Administration proposed a new federal tax credit, the Neighborhood Homes Tax Credit, designed to encourage construction and rehabilitation of homes in underserved communities. The primary goal of this act would likely to increase homeownership opportunities for low- and moderate-income buyers in underserved communities. However, there would also be another large incentive be for inventors.

5 Mortgage Myths, Debunked

If you don’t think you’d qualify for a mortgage, think again. Many times, home buyers will doubt they can qualify for a home loan based on misinformation. So, to set the record straight, here are five mortgage myths, debunked.

How to Finance a Home Renovation

When the housing market has a limited supply of homes, many owners opt to renovate or upgrade their existing home rather than move to a new home. Not only can this help improve your living area, but it can boost your home’s resale value as well. Plus, there are several different options that can help you finance home renovations.

Market Update: Benchmark Rate Unchanged, Construction Spending, ADP Employment Scheduled for Release

Last week, the Federal Open Market Committee (FOMC) voted to leave interest rates unchanged. Though they did mention that the economy has improved substantially, they have kept the benchmark interest rate near zero. The path of continued economic recovery (and consequential rate adjustments) will largely depend on potential spread of the coronavirus, specifically the delta variant. Mortgage rates have trended downward in past weeks due to several different factors – one of which includes the rising delta variant concern. However, the Fed did claim that future waves of the virus should have less impact on the economy. As for asset tapering, they said that we are not seeing enough progress on employment levels to begin tapering just yet. In other news, this week, construction spending is scheduled for release, as well as the ADP employment report.

Available Housing Inventory Starts to Increase

Last week, the Commerce Department released their report on new home sales in June. Though the level of completed new homes sales was lower than expected, the level of new homes on the market increased to a pandemic high. Earlier this month, the National Association of REALTORS® (NAR) revealed that the level of existing home sales increased in June after four straight months of declines. The cause? More available homes for sale. With continued inventory gains, home buyers could be seeing less competition and lower home prices over the next several months.

7 Tips for a Successful Refinance

Refinancing your home while interest rates are low can be a great financial choice. There are many benefits to refinancing your home, but before jumping in, it’s a good idea to have a game plan about why you are refinancing in the first place.

Seller Concessions: What Are They and How Can They Help?

Many buyers look at one number when shopping for a home – the number on the price tag. While a home’s sales price plays a large role in the cost of your future payments and how much your mortgage loan will be, it’s not the only cost you should be considering in your budget. Aside from interest rates and your down payment, another important home buying factor is your closing costs.

Market Update: Rates Drop, Coming Up This Week: Job Openings and the Consumer Price Index

Near the beginning of last week, mortgage rates dipped near some of their lowest levels in six months – largely due to the Fed’s announcement and rising COVID cases. Toward the end of the week, rates began to trend upward due to strong economic reports including the ISM Non-Manufacturing Index, the ADP employment report, and the employment situation. Positive reports suggest that the economy is returning to a more stable level, which would then prompt the Fed to potentially raise the benchmark rate. Consequently, bond prices fell and Treasury yields rose – typically pushing rates higher. This week, the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) is scheduled for release followed by the consumer price index.

Out-of-Town Buyers are Headed Back to the Cities

After a year-long drought, home buyers are flooding big cities once again. When COVID-19 sent the nation into lockdown last year, many buyers fled crowded urban areas in search of larger homes, bigger yards, and more space. Now, with increasing vaccination rates and reopening offices, people are returning to metropolitan hubs – and bringing steep home offers with them. Many out-of-town buyers are offering much more than the asking price on homes, which is putting pressure on local buyers.

Best Money Moves to Make During August

As summer break starts to wind down, back to school planning starts to rev up. For many, it’s time to swap out the flip flops and pool bags for sneakers and backpacks. The month of August is a big month for shopping and spending, but it also has many great opportunities to save. From discounts to sales to tax breaks, there are many smart ways you can spend (or save) your money this month.

What Is a Home Warranty and How Can You Avoid a Rejected Claim?

A home warranty covers repairs and replacements on major home appliances and features such as furnaces, HVAC, plumbing systems, and electrical systems. Instead of dipping into your savings or reserve funds for expensive repairs, you can purchase a home warranty for cheaper repair and replacement costs. Home warranties also make it easier for homeowners because they provide repairmen – meaning you don’t need to track down a contractor. For home sellers, providing the option for the buyer to purchase a home warranty can provide some protection against buyer complaints after closing.

Market Update: Rates Trend Upward, Housing Market Sentiment Index, Housing Starts and Building Permits

Last week, mortgage rates saw a slight upward trend after hitting six-month lows the week before. Strong jobs reports pushed rates slightly higher, but economic risks related to the Delta variant could keep them low. If COVID cases calm down or school starts without a noticeable uptick in case numbers, the Fed might be more inclined to push the benchmark rate up. The next few weeks should provide more data on the rise in cases. This coming week, the National Association of Home Builders’ (NAHB) housing market sentiment index is scheduled for release as is the report on housing starts and building permits.

Fannie Mae Eases Underwriting Calculation

On Wednesday, August 11th, the Federal Housing Finance Agency (FHFA) announced that positive rental payment history will be accounted for during Fannie Mae’s underwriting process. Not only will on-time rental payments help potential homeowners but missed rental payments will no longer prevent them from getting a mortgage. The change is effective immediately and should help current renters have greater access to homeownership.

A Home Buyer's Guide to Moving: What to Buy and What You Can Get Free

According to Moving.com, the average cost of a local move is $1,250. The cost of a long-distance move is $4,890. Though these costs might seem steep, there are certain moving purchases that could save you thousands in the long run. Others, you might be able to do without.

3 Compromises You Shouldn't Make When Buying a Home

When the housing market is hot and inventory is low, finding the right home can be difficult. You’ll likely have fewer choices and more buyers competing for the same homes. Consequently, you might have to expand your search and sacrifice certain home features. This can help you buy your home sooner, but there are certain compromises you shouldn’t make even when you are eager to buy.

Market Update: Rates Fall, Case Shiller Home Price Index, Pending Home Sales, and Construction Spending Coming Up This Week

Mortgage rates trended downward towards the end of last week. Bonds had a few solid days of stability – the most stability since the Fed’s meeting two weeks ago – while also trading at or near some of the best levels week-over-week. Consequently, mortgage rates saw improvement as well. This week, there are several reports scheduled for release that could have an impact on current rates. On Tuesday, the Case-Shiller home price index is scheduled for release, and on Wednesday, pending home sales will be released as well. Construction spending is scheduled for release on Thursday morning.

What Lies Ahead for the FHFA?

Last week was a busy week for the Federal Housing Finance Agency (FHFA). On Wednesday, the Supreme Court decided that the structure of the Agency was unconstitutional. By Thursday morning, Biden had appointed a new director. Sandra Thompson, FHFA’s deputy director of the division of housing mission and goals, will replace Mark Calabria as director of the FHFA. So, what exactly happened and what’s coming next?

4 Tips for Buying a Home in a Busy Market

When the housing market is hot, it might take you a little bit longer to find your future home, but it’s not impossible. Instead of rushing in on the first house you see or opting out altogether, here are four tips to help guide you home when the market is hot.

When to Not Pay Off Your Mortgage Early

If you had to choose between paying a mortgage and being mortgage-free, most of us would opt for the latter. Being free of monthly mortgage payments sounds ideal, but there are a few factors to consider before you start making extra payments.

Market Update: Mortgage Rates Drop, Job Openings Scheduled for Release

Last week, mortgage rates fell to some of their lowest levels since mid-June. They have been slowly dipping ever since the Fed meeting on June 16. Though the monthly jobs report was a slight concern, it didn’t significantly impact rates. Nonfarm payrolls surged much higher than expected, which is a good sign for the economy and could start to shift rates higher. However, average weekly hours dipped slightly, unemployment inched up, and the participation rate remained unchanged. In other words, the report wasn’t overwhelmingly positive to the point where it could push mortgage rates higher.

Good News Ahead for Buyers After a Surge in New Listings

Over the past year, home inventory has dropped to record low levels. Historically low mortgage rates have driven eager home buyers into the market, but with hesitant home sellers and overpriced home building materials, the supply of homes has not risen alongside buyer demand. Consequently, buyers have faced increased purchasing competition, higher sales prices, and fewer options to choose from. However, more supply is on the horizon.

6 Ways to Improve Your Credit Score Right Now

If you have a less than perfect credit score, applying for a mortgage or other type of loan might feel impossible. Fortunately, there are several mortgage programs that have lenient credit requirements plus many ways you can boost your score on your own before you apply for a mortgage.

6 Ways to Improve Your Credit Score Right Now

If you have a less than perfect credit score, applying for a mortgage or other type of loan might feel impossible. Fortunately, there are several mortgage programs that have lenient credit requirements plus many ways you can boost your score on your own before you apply for a mortgage.

3 Steps to Take When Making an Offer on a Home

When shopping for a home in a competitive market, you will want to make sure that your offer is as strong as possible. There will likely be several other buyers making offers on the same home, so it’s crucial that your offer stands out. The stronger your offer, the more likely it will be accepted by the seller.

Market Update: Rates Fall, Coming Up This Week: Consumer Price Index and Retail Sales

Mortgage rates took a sharp downward trend last week, hitting some of their lowest levels in the past five months. No major market-moving reports have caused the drop, but “timing pays a role,” according to contributors at Mortgage News Daily. Two weeks ago, we saw a stronger than expected jobs report, which would normally push rates higher, but rates didn’t move significantly and continued floating. Then, after the three-day weekend, trading resumed, and the bond market improved substantially – pushing rates lower. This week, the consumer price index and retail sales are both scheduled for release – which may also have an impact on rate movement.

What the Fed is Saying About Surging Home Prices

Last week, the Federal Open Market Committee (FOMC) released their June meeting minutes. While the large focus of the meeting was inflation, asset purchases, and interest rates, the Committee also had its eye on the climbing home prices. Over the past year, home prices have seen their highest appreciation in over 30 years – up nearly 15% in April. Home buyer demand has been soaring while inventory has remained near record lows – causing a steep increase in prices. Meanwhile, the Fed hasn’t budged.

6 Decorating Tips for Homes with Pets

Having the company of furry friends can add significant joy and health benefits to our lives. Many studies have shown that pet owners are less likely to suffer from depression, high blood pressure, and stress. However, owning a pet can also wreak havoc on your home. It might be harder for you to incorporate your pet’s belongings into a new home’s design, but with these six quick tips, you’ll have a model pet palace in no time.

Renting vs. Buying: Which is Right for You?

Buying your first home is an exciting transition, but it’s not always the right time for every renter.  Sometimes it depends on timing, other times it depends on the responsibilities and costs that come with buying a home. To help you determine which is right for you, here are some factors to consider.

Adverse Market Refinance Fee Eliminated

As of today, Friday July 16th, 2021, the Federal Housing Finance Agency (FHFA) has eliminated the Adverse Market Refinance Fee.  Homeowners still seeking to take advantage of record-low mortgage rates may now be able to save even more money through a refinance.

Market Update: Rates Fall, NAHB Housing Market Index, Housing Starts & Building Permits, and Existing Home Sales

Last week, mortgage rates fell to some of their lowest levels in months after the Federal Housing Finance Agency (FHFA) announced the removal of the Adverse Market Refinance Fee. As of last Friday, lenders no longer have to pay a fee amounting to 0.5% of every refinance. “Santa Claus has come early for homeowners looking to refinance their mortgages,” said Greg McBride, CFA, Bankrate chief financial analyst.

Sales of Vacation Homes Soar

After spending 15 months inside, people are itching to get out. They’re also itching to spend some of the money they’ve been saving for the past year. Consequently, the sale of vacation homes has seen a noticeable increase during the first four months of 2021.

Taking a Five-Sense Approach to Touring Homes

Touring a home can be a sensory overload. Many times, we see what we want to see, and not what we need to see. In other words, when touring a home, you’re likely envisioning a perfect future instead of noticing the current imperfections of your surroundings.  If you take a five-sense approach to your home tours, you can get an even better feel of how you might like your future home.

What to Know About Homeowners Insurance Before Selling Your Home

Moving to a new home is an exciting adventure. Chances are, if you’re moving, you’re focused on the next step – picking décor for the new house, arranging plans for travel, and imagining your future life. There’s a lot going on during a move, and it’s easy to forget little details. One detail you should never forget is your homeowners insurance.

What to Do if You Missed the Tax Deadline

Last Monday was Tax Day – the final day you could file your income taxes. Though it typically falls on April 15, the IRS allowed Americans an extra month to complete their taxes this year, due to the pandemic. If it slipped your mind, don’t worry. Tax Day has been a little different the past two years and you might still have some options to complete your 2020 taxes.

4 Money Moves to Make Before the End of May

By now, you’ve likely filed your taxes. The hard part is over. But as May comes to a close, there are still a few key deadlines to be aware of that can help you maximize your savings, increase profits on your investment, and make other beneficial money moves.

4 VA Loan Facts to Know Before You Apply

VA Loans are government-sponsored loans backed by the U.S. Department of Veterans Affairs designed to help military members, National Guard members, veterans, and surviving spouses buy a home. If you’re thinking of financing your home with a VA Loan, it might be easier than you think.

Market Update: Rates Drop, Construction Spending, and the Employment Situation

In the beginning of last week, mortgage rates trended downward to some of the lowest levels since the beginning of May. Towards the end of the week, they inched up due to a weakened bond market, but continue to remain historically low. According to Mortgage News Daily, these upward rate “moves aren't extreme in the bigger picture.” Some claim that Biden’s plan to propose a $6 trillion budget had an effect on the market. Another cause could be the core PCE index, which showed an increase of 3.1% that surged past the Federal Reserve’s 2% goal.

Is the Housing Market Headed Toward a Crash?

It’s no secret that the housing market is still red hot. Supply is low, demand is high, and home values are soaring to some of their highest levels since 1999. The market has been getting hotter and hotter over the past year, leaving many people wondering, “are we headed to a crash?”

Don't Make This Common Home Buying Mistake

If you’re buying a home, you’re probably focused on the upfront costs: your down payment, interest rate, and purchase price. These costs will dictate how much you pay upfront and how much your monthly mortgage payments will be going forward. To aid your home search, you might create a budget around the estimated monthly mortgage payments you will be able to afford. While this is a good start to your purchase preparation, you won’t want to stop there. Making a home buying budget strictly based on the estimated monthly mortgage payments you can afford might put yourself in a difficult financial position down the road.

5 Questions to Ask a Real Estate Agent Before Hiring Them

Google can do a lot, but it can’t quite compete with talking to someone about all of your home buying questions. Working with a REALTOR® can be a great asset in your home buying journey. Not only can they provide individualized advice, but they’re there to help guide you every step of the way. Many home buyers find a trusted REALTOR® through word of mouth or network connections, but if you’re starting from scratch, asking potential REALTORS® these five questions might be a good place to start.

Market Update: Rates Unchanged, Job Openings Scheduled for Release

Mortgage rates remained relatively unchanged last week and continued to hover near historic lows. Bond market volatility sent them slightly higher in the middle of the week, but with Friday’s employment situation, they trended lower again. Most of the reports in the employment situation were much lower than expected by economists. Consequently, “stock market futures actually rose, with investors continuing to bet that the measured pace of job gains would keep the Federal Reserve from raising interest rates and tightening monetary policy,” wrote Jeff Cox, Finance Editor for CNBC. The jobs report was a good check-in with the economy’s recovery, which is a key factor for the Fed to raise rates. With the economy’s job growth at a slower-than-expected pace, it’s unlikely the Fed will raise rates just yet. However, the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) is scheduled for release this Tuesday, which will be another important rate-influencing report.

Housing Bill Proposed to Help Teachers and First Responders

On May 13th, U.S. Representatives introduced a new bill aimed to help first responders and teachers buy homes. The bill, called Homes for Every Local Protector Educator and Responder Act, will be similar to VA Loans in assistance and structure.

How to Remove Negative Items from Your Credit Report

Your credit score can influence a lot of different opportunities, including your ability to buy a home. Different loan programs have different credit requirements, and the higher your credit score, the better chance you have at getting approved. A higher credit score can also increase your chances of securing a lower interest rate, which can save you thousands over the life of your loan. So, it’s important to stay on top of your credit, and if you notice a negative item bringing down your score, here’s what you should do.

3 Steps that Could Help Speed Up Your Refinance

When mortgage rates trend lower, people want to act fast. Home buyers will rush to find a home, while homeowners will rush to refinance. Then they’ll come to their lenders wanting to close on their loans immediately. Direct lenders, like us, typically have the ability to close quicker than others. However, part of the speed of our closings depends on you. The more prepared, responsive, and organized you are, the quicker you can close on your loan.

Market Update: Rates Fall, Housing Market Index, FOMC Meeting, Housing Starts and Building Permits

Last week, mortgage rates trended downward after the 10-year Treasury yields dropped to some of their lowest levels since May 7. Though Treasury yields don’t directly influence mortgage rates, they often trend in similar directions. When longer-dated Treasury yields (like the 10-year yield) gain strength, mortgage bonds tend to benefit as well – pushing rates lower. This week, the Federal Open Market Committee (FOMC) will be meeting on Tuesday and Wednesday to discuss the benchmark interest rate, currently set near zero. In other important market-moving news, the National Association of Home Builders (NAHB) will be releasing their housing market sentiment index on Tuesday. Housing starts and building permits are scheduled for release on Wednesday.

What is Inflation, How Does it Affect Interest Rates, and Why Does it Matter?

Over the next two days, the Federal Open Market Committee (FOMC) will hold their fourth meeting of the year to discuss interest rates and their Summary of Economic Projections. The central bank has kept the benchmark interest rate near zero since they made an emergency rate cut last March. But with the economy continuing to gain strength, many experts are wondering when the Fed will begin tapering asset purchases and raising rates again.

4 Tips for Selling in a Competitive Market

Selling your house in a competitive market might sound like a breeze. You list your home, get several offers right away, and close on a contract offering you thousands of dollars above your listing price. Unfortunately, the sales process might not be as straightforward as you think and there are a few other factors to consider.

8 Questions to Ask Your Contractor Before Renovating

Renovating your home is exciting. But it’s also a big undertaking, and you will want to make sure it’s done right. To make sure you get the most bang for your buck, here are eight questions to ask potential contractors before you hire them.

Market Update: Rates Trend Higher, Existing Home Sales and New Homes Sales Coming Up this Week

Last week, the Federal Open Market Committee (FOMC) voted to leave the benchmark interest rate near zero. The move caused some market volatility, likely due to the FOMC’s discussion of tapering and rising rates. With the economy’s current pace of recovery and inflation, the FOMC predicted that we will see at least two interest rate hikes in 2023. Before last week’s meeting. the rate liftoff was set for 2024. As for their bond-buying program, they still plan to keep purchasing assets at the current pace until the labor market and inflation show substantial and sustained progress. But they did mention the idea of tapering, which is likely what sparked the movement in the 10-year Treasury yield and mortgage rates. Mortgage rates could see more movement this week after the release of the existing home sales report and new home sales on Tuesday and Wednesday, respectively.

How Current Inflation Could Actually Help You Save Money

With the Federal Reserve deciding to leave interest rates unchanged, inflation will likely continue to heat up. Though this is generally a good sign of an improving economy, it tends to have negative effects like higher prices and lower purchasing power. For consumers, this isn’t ideal. But for borrowers, it can actually help them save on interest and pay off their debts faster.

Don't Let this Mistake Cost You 30% of Your Home's Value

When you sell your home, you ideally want to get the biggest profit possible. Before you list it, you might renovate, hire a professional stager, paint, or do anything else you can to boost its market value. The most common updates are generally cosmetic, but if your home has certain underlying health issues, you will want to address those before making cosmetic touch ups – for your home’s market value and your own safety.

How Carrying a Balance Affects Your Credit Score

You carry a credit card balance when you don’t pay your total bill on time and in full each month. Whatever’s left unpaid gets carried over to the next month’s bill. For example, if you bought a $1,000 TV and paid off $700, you carried over a balance of $300. For the most part, credit card users are encouraged to pay their bills on time and in full. So, is carrying a balance ever a good idea?

5 Mortgage Terms Every First-Time Home Buyer Should Know

There are several different steps of the home buying process that you might not have seen on Million Dollar Listing. It might feel overwhelming at times, but professionals like a REALTOR® and loan officer can help guide you through the process. According to the National Association of REALTORS® (NAR), 91% of buyers aged 22 to 30 cited a real estate agent as a main source of information when buying a home. Among that 91%, a large majority of first-time buyers had similar questions about these five mortgage terms.

Market Recap: Home Prices Appreciate, Fed Leaves Rates Unchanged, and Pending Sales Rise

This week, the Federal Open Market Committee (FOMC) announced that the benchmark interest rate would remain near zero. This marks over one year since the Fed pushed rates down due to the coronavirus pandemic. As a result, mortgage rates remained relatively unchanged. For right now they’re still trending in a historically low range, and the market doesn’t show many indicators of that changing soon.

Market Update: No Rate Hike, Construction Spending, and the Weekly Mortgage Application Survey

Last week, the Federal Open Market Committee voted to leave interest rates unchanged, but predicted economic growth and inflation would accelerate in the coming months.  Mortgage rates remained relatively unchanged, and as a result are in a still historically low range. The cooling of rates has been much needed after consistent climbs throughout February and March. However, there’s a certain risk factor to the downward trend we’ve been witnessing for the past several weeks. Either rates could continue making insignificant fluctuations, or we could see a “reinvigoration of 2021’s rising rate trends,” said contributors at Mortgage News Daily.

Congress Introduces First-Time Homebuyer Act

Last week we looked at President Biden’s Downpayment Toward Equity Act of 2021. Initially, it seemed like it was an updated version of his proposed tax credit. However, last Tuesday, two U.S. Representatives introduced another bill called the First-Time Homebuyer Act, which would more closely resemble Biden’s original tax credit plan.

Money Moves to Make When Interest Rates Are Low

Last week the Federal Open Market Committee (FOMC) voted to leave the benchmark interest rate near zero. Consequently, the cost of borrowing will remain relatively favorable for consumers. If you’re thinking about how to take advantage of low rates, now is the time. Don’t know where to start? Here are two ways you can take advantage of interest rates while they’re still low.

How an Investment Property Can Increase Your Wealth

Investment properties are primarily used to generate additional income. With the money generated from rental payments you can profit every year in the form of passive income. Plus, you could qualify for significant tax benefits, increase your wealth, and diversify your investment portfolio.

Market Update: Rates Unchanged, Job Openings, and Mortgage Applications

Last week, mortgage rates remained relatively unchanged, continuing to trend near historic lows. Early in the week, the bond yields fell due to stocks losing ground. Mortgage rates typically follow the momentum of the bond market, so they hovered near their current lows. Later in the week, several employment reports were expected to have an impact on rates. ADP employment was increasingly positive but the employment situation reports were mixed. Though a couple of the reports saw higher-than-expected increases (average hourly earnings, average weekly hours), others fell below expectations (manufacturing payrolls, nonfarm payrolls, private nonfarm payrolls, and the unemployment rate). Consequently, rates didn’t see much movement and remained low.

Biden's Impact on Housing in His First 100 Days

It’s hard to believe that we’re already 100 days into President Biden’s term. A couple of weeks ago, he gave his first address to Congress with updates on his progress so far and plans to come. Here are some of the ways he has impacted the housing industry over the past 100 days.

What You Need to Know About Homeowners Insurance Before You Buy a Vacation Home

After years of saving and dreaming, you’re finally ready to invest in that house by the beach. But before you do, it’s important to make sure that your money (and home) will be protected. While homeowners insurance might not stop bad things from happening to your home, it can help compensate you in the case of a bad event.

What's the Difference Between Condos, Apartments, and Townhouses?

Choosing where to buy or rent a place to live depends on many different factors. How far is the commute? What are the school districts like? Is it located in a nice neighborhood? All important questions to consider. But before you answer them, you’ll need to answer what kind of property am I looking for? There are several options to consider besides a house.

Market Update: Rates Move Higher, Housing Market Index, Housing Starts and Building Permits, and Existing Home Sales

Mortgage rates trended slightly higher last week after hitting a two-month low the week before. The Job Openings and Labor Turnover Survey (JOLTS) revealed a record high number of job openings and the consumer price index (CPI) showed the highest year-over-year increase in 13 years – both strong signs of the economy’s continued recovery. When the economy is stronger, rates may trend higher. However, the Federal Reserve is unconcerned by the CPI’s high year-over-year inflation jump due to its distorted comparison to last year’s pandemic lows. Until inflation is consistently averaging at around 2%, the Fed has said that it will keep the benchmark interest rate near zero.

How Long Will High Lumber Prices Last?

Lumber prices have been surging to record highs over the past few weeks. One year ago, random-length lumber futures were around $340, according to Nasdaq. Two weeks ago, they hit an all-time high of $1,670. If they continue to rise, construction projects could be significantly delayed, the housing shortage could worsen, and home prices could climb even higher than they already are. Many people are wondering “how did lumber prices get here?”  An even more important question might be, “how (and when) will they drop?”

5 Myths About Buying a Home

Buying a home is a big step. Renting allows you to live more commitment-free, and when you think of buying, you might be worried about what it entails. For many people, they envision a large debt, strict mortgage requirements, and settling down. But not everything you hear about buying a home is true. To help you transition from renting to buying, here are five common myths about buying a home.

Home Renovations with the Highest and Lowest Returns

Home renovations can be costly endeavors, depending on the scope of your project. Some homeowners might renovate simply because they need more space. Others might have the goal of boosting their home’s value. If the purpose of your home renovation is to increase your home’s value, it’s important to weigh out its cost. Certain renovations might not have the same resale value that you imagined. To help you plan for your home renovation, here are the current home upgrades with the highest and lowest return on investment (ROI).

Market Update: Rates Inch Upward, Case-Shiller Home Price Index, New Home Sales, Pending Home Sales

Last week, mortgage rates saw a slight upward trend. The bond market took a turn on Wednesday after a scheduled treasury auction, but the bigger rate factor was the Fed’s policy meeting minutes on Wednesday afternoon. The minutes showed that the Fed was debating tapering soon. This means that they will gradually reduce the amount of bond purchases they make until it reaches zero. Historically, mortgage rates tend to move up when the Fed tapers their bond purchases. In 2013, rates spiked abruptly in reaction to the Fed’s taper discussion. However, this year is different because of the pandemic’s effect on the economy. The Fed is still looking for further economic recovery before they taper, and even when they do, it will be gradual.

HUD Holds FHA Premiums Steady, Home Buyers Still Win

Last week, U.S. Department of Housing and Urban Development (HUD) Secretary Marcia Fudge announced that there would be no cuts to FHA mortgage insurance premiums (MIPs). Most of the housing industry had hoped for a 0.25% reduction, but for now the benchmark annual MIP rate will remain at 0.85%.

A Home Buyer's Guide to a Pet-Friendly Purchase

When buying a home, it’s important to consider the needs of all family members involved. For many families, this includes the needs of a furry friend. According to the American Veterinary Medical Association, over 50% of American households have at least one pet, and nearly 90% of those households said their pets’ needs are very important factors when buying a home. If you’re one of those 90%, consider these four questions to find the perfect place for both or both you and your pet.

Breaking Down the Most Common Myths About USDA Loans

Initially created to encourage rural development, the USDA Loan has helped nearly 1.5 million home buyers become homeowners. Backed by the U.S. Department of Agriculture (USDA), the USDA Loan offers zero down payment, reduced mortgage insurance costs, and low mortgage rates. It’s a great deal that saves buyers thousands of dollars in upfront costs, but over the years it has become increasingly less popular.

Market Recap: Job Openings Surge, Mortgage Applications Fall, Consumer Credit Increases

Mortgage rates trended downward this week as the bond market remained relatively strong. According to Mortgage News Daily, bond yields “have remained under important ceilings since March 18th despite numerous attempts at a breakout.” Bond yields, specifically the 10-year treasury yields, are important indicators of any shifts in rate momentum. “Evidence for a supportive shift in the rate environment is beginning to mount,” wrote Mortgage News contributors.

Market Forecast: Mortgage Applications, Housing Market Index, Housing Starts and Building Permits

Last week, mortgage rates trended downward and hit their lowest point since the beginning of March. The bond market remained stable and bond yields have remained below important ceilings since mid-March. Coming up this week in housing news, the weekly mortgage application survey will be released on Wednesday morning, followed by the housing market index on Thursday and housing starts and building permits on Friday.

New Home Buyers are Taking Charge of the Current Market

Last year, the number of first-time home buyers hit its lowest level in over 30 years. The coronavirus pandemic likely played a large role in the decline, but outside of that, the market had other challenges for first-time buyers as well. Low inventory, high demand, and rising mortgage rates are all making it harder for new buyers to break into the homeowner’s club. Consequently, first-time buyers are having to pave more creative paths to homeownership – paths that may differ from their parents and grandparents.

Home Buying Tips from a Financial Planner

“How much can I spend?” is a common question asked when buying a home. For Eric Roberge, CFP of Beyond Your Hammock, this is the top financial priority for many of his clients. Roberge specializes in helping 30- to 40-year-old professionals manage their finances, and a popular goal for this age range is buying a home. To guide buyers in their home search and prepare their finances for a purchase, Roberge offers two main tips.

Mistakes to Avoid When Buying in a Busy Market

Everything moves faster when buyer competition is high. The offers roll in quicker, the houses close sooner, and the seller often gets much more than their asking price. Consequently, many buyers feel the pressure to act fast too. This can lead you to skip inspections, overpay, and wind up in a bad financial position in the long run. To help you avoid these common mistakes, here are five DOs and DON’Ts to guide you through buying in a busy market.

Market Recap: Mortgage Applications Decline, Home Builder Sentiment Improves, Housing Starts and Building Permits Jump

This week, mortgage rates trended near some of their lowest levels in almost a month. After weeks of steady increases, rates are finally falling at a consistent pace. “The drop in rates creates yet another opportunity for those who have not refinanced to take a look at the possibility,” said Sam Khater, chief economist at Freddie Mac. In other market news, mortgage application submissions declined once again. Home builder sentiment improved, despite record high lumber prices. Housing starts jumped to their highest level in years and building permits rose as well.

Market Forecast: Mortgage Applications, Existing Home Sales, New Home Sales

Mortgage rates have seen a steady downward trend over the past couple of weeks, hitting some of their lowest levels in nearly a month. COVID-19 and mortgage rates have generally been conversely related. When COVID cases have spiked, rates have dropped lower. Therefore, as the economy recovers from the pandemic, we will likely see higher rates. If case counts rise and variants spread, then rates might hold or even drop further.

4 Ways the Housing Market Could Change After the Pandemic

The housing market saw notable shifts when coronavirus initially broke out last year. Mortgage rates dropped, home prices surged, and an increasing number of buyers fled the cities into suburban areas. Now, as the economy is gaining strength, we will likely see the housing market shift again – specifically in these four ways.

5 Simple Ways to Boost Your Credit Score

There are certain factors that are out of your control when getting a mortgage rate. You can’t control the Federal Reserve, bond market, or any of the economic factors that influence rate trends.  However, you can control your credit score. Your credit score shows lenders how good you are at borrowing money and repaying debts. The higher the score, the better. By improving your credit score, you could qualify for a lower mortgage rate and save money over the life of your loan.

How to Groom the Perfect Lawn

Curb appeal is one of the top influencers when buying or selling a home. If you have a nice garden, new paint, and a well-groomed yard, your home will likely get more offers than one with poorly kept outdoor features. Even if you aren’t considering selling, you still probably appreciate the looks of a nice green lawn. Luckily, growing the perfect lawn doesn’t require an extensive skill set, just a few extra steps in your daily routine.

Market Recap: Mortgage Applications Jump, Existing Home Sales Decline, News Home Sales Surge

Mortgage rates fell this week, trending near lowest levels since the beginning of March. The bond market was “fairly stable,” according to Mortgage News Daily. Yesterday, the proposed increase in capital gains tax rates pushed bond yields down. Consequently, many lenders reported drops in mortgage rates as well.

Market Forecast: Case-Shiller Home Price Index, FOMC Meeting, and Pending Home Sales

Last week, mortgage rates trended downward to reach some of the lowest levels in almost two months. The bond market showed renewed signs of strength and most mortgage lenders adjusted their pricing accordingly. The Federal Open Market Committee (FOMC) will meet on Tuesday and Wednesday of this week to assess the benchmark interest rate and determine if it needs to be adjusted. Right now, the benchmark rate sits near zero. Federal Reserve Chairman Jerome Powell will give a press conference on Wednesday afternoon. Prior to the decision, the Case-Shiller home price index will be released on Tuesday. The pending home sales index comes out on Thursday.

3 Major Updates to Biden's Home Buyer Assistance Bill

Earlier this year, we took A Deeper Look at President Biden’s Proposed Tax Credit. Initially, the tax credit was designed to “help families buy their first homes and build wealth by creating a new refundable, advanceable tax credit of up to $15,000.” However, on April 14th, lawmakers published a new draft of the Downpayment Toward Equity Act of 2021 that had a few key differences from its original concept.

Market Recap: Home Builder Confidence Drops, Housing Starts and Building Permits Decrease, and Fed Leaves Rates Unchanged

The Federal Reserve announced on Wednesday that it was leaving the benchmark interest rate unchanged at a range of 0 to 0.25%. As a result, mortgage rates should not move drastically in the near future. In the past week, they have trended slightly upward due to increased economic recovery and inflation. In its revised economic outlook, the Fed predicted a higher inflation and GDP growth this year – both good signs of economic strength. In other housing news, home builder confidence dropped to its lowest level in seven months while housing starts and building permits slowed – largely a result of increased construction costs.

Market Forecast: Existing Home Sales, New Home Sales, and Mortgage Applications

Last week the Fed decided to leave the benchmark interest rate near zero once again – reaffirming its commitment to economic recovery. Mortgage rates, however, still saw a slight upward trend as the economy continues to gain strength and housing demand continues to boom. Demand and inflation are two other factors, in addition to the Central Bank’s monetary policy, that influence mortgage rates. Though the benchmark rate is still low, mortgage demand is high, and inflation has inched up as well, Federal Reserve Chairman Jerome Powell expects this trend is temporary.

How Housing Has Changed in a Year & Where it's Headed Next

Unexpected is an understatement when describing this past year. A global pandemic, a struggling economy, and so much more led to a 2020 that we won’t be forgetting anytime soon. And in the midst of it all, the housing market took a turn that hardly anyone expected – breaking records, surging demand, and a much-needed hand that helped keep the economy going through unprecedented times. Now, many of us are wondering: what’s next?

How to Spend Your Stimulus Money Wisely

Last week, the third round of stimulus checks were sent to qualifying citizens. The checks – equaling up to $1,400 per person – were quickly processed by the IRS and U.S. Treasury in an effort to stimulate the economy amidst the continued coronavirus pandemic. If you were one of the stimulus check recipients, it may be tempting to splurge on that new PlayStation 5 or the necklace that you’ve wanted. However, here are five smarter ways you can spend your stimulus money.

6 Quick Tips to Help Sell Your House Fast

Staging your home for sale is always important – even in a busy market. With the help of good staging, you could garner more buyer interest, close on your home faster, and potentially increase your profit. To get started with a solid home staging, follow these six easy tips from REALTORS® across the country.

Market Recap: Existing Home Sales Drop, New Home Sales Decline, Mortgage Applications Mixed

Mortgage rates trended downward this week, hitting some of the lowest levels in the past 10 days, according to Mortgage News Daily. Encouraged by calmer conditions in the bond market, rates finally started to fall after three weeks of consistently rising. Though it’s unclear whether this is a broader reversal of rates or just a false start, it is an optimistic drop, nonetheless. “Eventually, one of these friendly bounces will have staying power,” wrote Mortgage News contributors in a daily report. In housing news, both existing and new home sales dropped in February. Mortgage refinance application submissions fell while purchase submissions increased.

Market Forecast: Case-Shiller Home Price Index, Pending Sales, and Construction Spending

Last week, mortgage rates trended near some of their lowest points since the middle of March, according to Mortgage News Daily. The downward trend comes after consistently rising throughout the beginning of the month and is a positive outlook for future rates. Regardless of whether this downward trend will last, Mortgage News Daily contributors pointed out that eventually one of these rates drop clusters will “have staying power.”

More First-Time Home Buyers Choose Conventional Over FHA Loans

The FHA Loan has been a cost-effective staple for first-time home buyers since its creation in the 1930s. With low down payments and lenient credit requirements, the FHA Loan has helped millions of home buyers over the years. However, recent data by the National Association of REALTORS® (NAR) has shown a sharp decrease in the number of buyers who are financing their first homes with the FHA Loan. Over the past 1-2 years, more first-time buyers have been choosing the conventional financing route – but why? When might a conventional loan be a better option for first-time buyers?

Are "We Buy Houses" Signs a Scam?

Many of us know a scam when we see one. Whether it’s a phone call from “Spam Risk,” or a text to claim your free prize, we’re wary of anything that seems too good to be true. So, are the “We Buy Houses” signs any different?

Why You Should Stay with the Same Lender for Your Refinance

Refinancing your home while rates are low can save you thousands of dollars over the life of your loan. If you’re looking into refinancing you might be considering what type of refinance you want, what rates you are looking for, and whether or not you should stay with your current lender. But before you decide to refinance with someone new, here are four reasons when it makes sense to stay put.

Market Recap: Home Prices Surge, Pending Sales Drop, Construction Spending Declines

Mortgage rates trended upward most of the week, reaching near long-term highs. Earlier in the week we saw a bounce in the bond market, which was a hopeful sign that rates were hitting their ceiling. While mortgage-backed bonds are one of the largest influencers on daily mortgage rates, the downward trend did not hold. Mortgage experts are divided on the trend of mortgage rates next week. According to a Bankrate survey, 46% expect rates to continue rising while 15% expect them to fall. A large number (38%) said that rates will remain unchanged. In other housing news, home prices surged once again, while pending sales slowed and construction spending decreased.

Market Forecast: Job Openings, Mortgage Applications, and Consumer Credit

Mortgage rates trended higher last week. On Tuesday, Mortgage Daily News reported net gains that pushed rates near some of their highest levels in a year.  However, with the bond market recovery on Tuesday afternoon and the reprices that followed, rates dropped slightly in the latter half of the week. This week, the Labor Department will release their Job Openings and Labor Turnover Survey (JOLTS) on Tuesday. The weekly mortgage application survey will be released Wednesday morning, followed by the report on consumer credit that afternoon.

Removing Insurance from an FHA Loan

The FHA Loan is one of the most popular government-backed loans. With lower down payment options and less restrictive requirements than conventional loans, it’s an especially appealing program for home buyers like first-time buyers who may struggle to qualify for a conventional loan. If you decide to finance your home with an FHA Loan, you will be required to pay mandatory mortgage insurance.

Market Recap: Construction Spending Jumps, Mortgage Applications Increase, and ADP Employment Shows Job Growth

Mortgage rates trended downward this week. Construction spending hit an all-time high in January. Mortgage application submissions increased. The ADP employment report showed increases as well.

Market Forecast: Mortgage Applications, Consumer Price Index, and Job Openings

Mortgage rates dropped last week and continue to stay in a historically low range. This week, the weekly mortgage application survey will be released on Wednesday morning, followed by the consumer price index later that day. The Job Openings and Labor Turnover Survey (JOLTS) will be released by the Labor Department on Thursday.

How Millennials are Shaping the Current Housing Market

For decades, Millennials have sat on the sidelines and delayed milestones like homeownership. Two years ago, Millennials – people born between 1981 and 1996 – officially became the largest generation in America, totaling at 72.1 million people. Last year, they became the largest home buying population in America, making up 38% of all buyers. And today, they’re driving the housing boom – with existing sales up 24% annually.

REALTORS Answer Their 5 Most Commonly Asked Questions

When it comes to buying a home, your REALTOR® is your go-to guru. Whether it’s questions about the home’s price or concerns about the strength of your offer – you’ll likely look to your REALTOR®  for all the answers.  Naturally, home buyers will have questions and concerns when purchasing a home. If you think you’re alone in your concerns, you’re not. Don’t believe us? Here are five of the most common questions a REALTOR® gets asked.

Should You Refinance Your Mortgage in Retirement?

By the time you retire, your finances should be pretty consistent, which is why the thought of making a large financial move like refinancing can be intimidating to some. However, refinancing when you’re retired can bring you similar benefits to when you were still working, and can be a smart financial move for many.

Market Recap: Mortgage Applications Mixed, Consumer Price Index Increases, Job Openings Jump

Mortgage rates remained relatively unchanged this week after inching up the week before.  There are many hopeful signs of the economy’s strength right now, but people are worried about possible inflation and rising interest rates. In reality, these are effects of a recovering economy.  According to the Mortgage Bankers Association (MBA), mortgage application submissions decreased on the refinance index but increased on the purchase index. The consumer price index rose slightly but inflation remains lower than pre-pandemic levels. Job openings expanded as more businesses start reopening again.

Market Forecast: Housing Market Index, FOMC Meeting, Housing Starts and Building Permits

Mortgage rates remained relatively unchanged last week. Treasury yields are starting to inch higher in anticipation of increased inflation. With this imminent recovery, more people are anticipating the rise of benchmark interest rates. It’s not a matter of will rates rise, but when will it happen.

How the American Rescue Plan Will Impact Housing

Last week, Congress approved a $1.9 trillion relief package known as the American Rescue Plan. President Biden signed the plan on Friday, which means the sixth coronavirus relief measure should be disbursed very soon – giving many Americans a $1,400 direct payment and millions of others assistance with unemployment benefits, small business loans, vaccine investment, and community support.

10 Easy Ways to Go Green at Home

There’s one day a year that everyone loves to go green. Some think it saves them from a pinch of the skin, while other hope it can lead them to a pot of gold. But with a few simple changes, you can go green every day of the year – right in the comfort of your home – and save a lot more than a pinch.

4 Steps for Home Buying Success

After years of saving and months of searching, you’ve finally found the one. Now, you’re ready to move in. But there are a few other steps you need to take before the moving trucks roll up. If you know them in advance and are prepared, then the home purchase process can move even faster, and you can start packing up in no time.

4 Steps for a Successful Home Purchase

After years of saving and months of searching, you’ve finally found the one. Now, you’re ready to move in. But there are a few other steps you need to take before the moving trucks roll up. If you know them in advance and are prepared, then the home purchase process can move even faster, and you can start packing up in no time.

Market Recap: Job Openings Increase, Mortgage Applications Decline, and Consumer Price Index Rises

Mortgage rates continued to trend near historic lows this week with no significant changes. Job openings increased in December, according to the Labor Department. Mortgage application submissions declined for both refinances and purchases. The consumer price index inched up in January.

Market Forecast: Housing Market Index, Housing Starts and Building Permits, and Existing Home Sales

Mortgage rates did not fluctuate much last week and continued to hover near historic lows. This week, the National Association of Home Builders’ (NAHB) housing market sentiment index is scheduled for release on Wednesday. On Thursday, the housing starts and building permits reports will be released, and on Friday the existing home sales report will come out.

Are iBuyers Worth the Buzz?

No, an iBuyer is not the next big Apple product, it’s an online ‘instant buyer’ that is becoming a popular option in today’s housing market. Over the past several years, many home sellers have chosen iBuyers because of their convenience and efficiency. When a seller uses an online iBuyer platform, the purchasing company makes an offer for your house, takes care of upgrades and repairs, and buys the house from you in order to make a small profit when it sells again. Before you choose to go this route, make sure you know the advantages and disadvantages of using an iBuyer to purchase your home.

5 Benefits of Mobile Banking

It’s hard to imagine getting through the day without using your phone. How would you get directions? How would you stay connected during quarantine? How would order a chicken sandwich from the comfort of your couch? In modern days almost anything is accessible on your phone – even banking. Mobile banking apps have become increasingly popular over the years, and for good reason. If you haven’t tried using your bank’s mobile app to manage your finances, here are five factors to consider.

Answer These Questions BEFORE You Buy a Home

Mortgage rates have been breaking record lows for the past several months – making home buyer demand surge. And while low mortgage rates present a great opportunity for potential home buyers, there are many factors that you should consider, besides your mortgage rate, before you buy a home.

Market Recap: Home Builder Confidence Improves, Housing Starts Fall, Building Permits Rise, and Existing Home Sales Increase

Mortgage rates inched upward this week but are still trending near historic lows. The National Association of Home Builders’ (NAHB) housing market index showed an increase in home builder confidence. Though housing starts dropped slightly, building permits soared to their highest level in 15 years. Existing home sales increased for the second month in a row.

Market Forecast: Case-Shiller Home Price Index, New Home Sales, Pending Home Sales

Mortgage rates trended slightly upward last week, but still remain relatively low. This week, the S&P CoreLogic Case-Shiller home price index is scheduled for release on Tuesday. The new home sales report is scheduled for release on Wednesday, and the pending home sales index is scheduled for release on Thursday.

3 Reasons You Should Refinance Now

Mortgage rates have trended near historic lows for almost a year now, with the number of new home purchases and refinances surging in response. At the end of last month, the number of refinance application submissions were up 59% year-over-year, hitting their highest level since March 2020. Thousands of homeowners have already refinanced their mortgage to take advantage of low rates, but if you haven’t yet, here are three factors to consider before you make your mortgage move.

How to Determine if You're Financially Ready to Buy a Home

When many home buyers are preparing to purchase a home, they can picture it all – the perfect house, the perfect family, and the perfect renovations they’re already planning in their heads. While buying a house is definitely an exciting investment, it’s important that your financial preparedness matches (or surpasses) your emotional preparedness to buy as well. In order to to help determine if you’re financially ready to buy a home, here are 5 questions to answer.

What Are the Costs of Refinancing Your Mortgage?

When mortgage rates are near record lows, it is a great opportunity for homeowners to refinance their home loans and potentially save thousands of dollars over the life of the loan. However, when making the choice to refinance, be sure to take all of these added costs into account.

Market Recap: Home Prices Appreciate, New Home Sales Jump, and Pending Home Sales Fall

Mortgage rates trended upward this week but remain in a historically low range. Home prices appreciated at the fastest pace since 2014. New home sales rose nationwide while pending home sales slipped slightly.

Market Forecast: Construction Spending, Mortgage Applications, and ADP Employment

Mortgage rates saw a slight upward trend last week but are still relatively low. The report on construction spending will be released today, and the weekly mortgage application survey will be released on Wednesday. Also scheduled for release this week, is the ADP employment report.

6 Factors that Affect a Home's Price

Home price appreciation has surged over the past year – up 10.1% year-over-year, according to the recent Case-Shiller home price index report. This is the first time that home prices have seen a double-digit gain since 2014, as more buyers have been flooding the housing market and fewer homes have been available for sale. Whether you’re a proactive homeowner getting your house ready to sell, or a savvy home buyer looking to make a smart investment, knowing which factors affect a home’s price could help you maximize your returns in the future.

What Homeowners Insurance Covers in a Power Outage

Losing power in your home is more than just an uncharged iPhone and a missed episode of This is Us – especially during the winter months. For many, losing power can be physically dangerous, emotionally taxing, and financially expensive. Luckily, some of the costs that ensue from power outages are covered by your homeowners insurance – but the extent of your coverage depends on your insurer and policy.

FHA Raises Loan Limits for 2021

On January 1st, 2021 the the Federal Housing Administration (FHA) raised its loan limits for the new year. Though the limits vary per house location across the country, both the limit floor and limit ceiling have increased by thousands of dollars.

8 Home Features That Make a Lasting First Impression

You never get a second chance to make a first impression. But when it comes to the home you love, you’ll oftentimes make any excuse for why it deserves another. Though you may want to overlook some features in a home and make an offer as soon as possible, you might want to take a closer look at these eight home features before making such a large investment.

Everything You Need to Know About Your Mortgage Escrow

In the world of real estate, the word “escrow” is a term widely used and often confused. Typically, escrow refers to an escrow account, but it can also refer to the escrow process and the escrow period of time. To help keep your escrows straight, here is a breakdown of the escrow process, account and timeline when buying a home.

Market Forecast: Construction Spending, Mortgage Applications, and ADP Employment

Last week, the Fed voted to leave interest rates unchanged, and mortgage rates continued to brush record lows. The report on construction spending is scheduled for release today. Also scheduled for release this week are the weekly mortgage application survey and the ADP employment report.

HUD Announces That the FHA is Backing DACA Mortgages

Last month, the U.S. Department of Housing and Urban Development (HUD) declared that the Federal Housing Administration (FHA) would begin backing mortgages for immigrants under the Deferred Action for Childhood Arrivals (DACA) program. This announcement marks the first time that DACA status recipients would be eligible for FHA loans, provided that they meet all other FHA requirements.

7 Simple Ways to Spruce Up Your Home's Curb Appeal

Nothing says “welcome home” like a freshly trimmed front yard and a newly painted front door. Though we all know we can’t judge a book by its cover, when it comes to your home, the front cover matters. According to a study by the Journal of Real Estate Finance, your home’s curb appeal can contribute up to 7% of the overall price. For a $300,000 house, that’s equivalent to $21,000. So, if you’re preparing to sell your home, be sure to touch up its curb appeal with these seven simple strategies.

4 Ways to Save Money When Building a Home

Finding the perfect existing home can be hard when housing inventory is tight. Building a new house is a way your dream home can still become a reality. Unlike the upfront cost of buying a home, the cost of building is fluid. Though you will often know the rough estimate beforehand, the total cost can change as the project progresses. In order to help keep costs under control, here are four ways to plan your dream home’s construction.

Market Recap: Construction Spending Increases, Mortgage Applications Jump, ADP Employment Grows

This week, mortgage rates remained relatively unchanged and continued to trend near historic lows. Construction spending rose again, largely due to the residential sector increasing spending for the seventh month in a row. Mortgage applications jumped as well. ADP employment grew as the labor market continues to recover from COVID-19 related slowdowns.