The recent spike in inflation has led to a noticeable rise in mortgage rates, impacting the housing market as we move into the peak homebuying season. Last week, a report from HousingWire’s Mortgage Rates Center indicated that the average 30-year fixed rate for conventional loans climbed to 7.24%, a significant jump from 7.16% just a…

  Homeowners and prospective buyers have several financing options available, each with distinct advantages and challenges. Understanding these can help you make informed decisions that align with your financial goals. 1. Cash-Out Refinance Advantages: Lower Interest Rates: Often lower than other loans, making it financially appealing. Single Monthly Payment: Simplifies financial management by consolidating debt.…

The Federal Housing Administration (FHA) has introduced a groundbreaking policy that marks a significant shift in mortgage financing, particularly for properties featuring Accessory Dwelling Units (ADUs). This initiative is set to broaden financing options significantly, aligning with the Biden-Harris Administration’s objectives to enhance housing supply and promote homeownership. What Are Accessory Dwelling Units? ADUs are…

In today’s ever-evolving real estate market, homeowners are exploring innovative ways to leverage the value of their properties. One such avenue is through equity sharing agreements, a unique financial product that allows homeowners to cash out some of their home equity in exchange for giving an investment company a minority ownership stake in their property.…

As mortgage rates rise in response to hotter-than-expected inflation reports, prospective homebuyers might feel hesitant. However, buying in a high-rate environment can unexpectedly benefit both buyers and sellers by reshaping the competitive landscape and offering unique opportunities. The persistence of elevated inflation means that the Federal Reserve may delay interest rate cuts, affecting mortgage rates…

As the spring homebuying season kicks off, the housing market is showing encouraging signs of growth. This recent uptick in housing inventory, the largest in nearly a year, is bringing new opportunities for prospective buyers. Growing Inventory Sparks Buyer Interest Over the past four weeks, leading up to March 17, the total number of homes…

If you’re considering buying a smaller home with less maintenance, you might find yourself debating between a condo and a townhouse. While both options offer distinct advantages, understanding the key differences, especially in terms of mortgages, can help you make a more informed decision that aligns with your financial and lifestyle goals. Understanding Condo vs…