Mortgage interest rates have increased by more than half of a point since the beginning of the year. They are projected to increase by an additional half of a point by year’s end. Because of this increase in rates, some are guessing that home prices will depreciate. However, some prominent experts in the housing industry doubt that home values will be negatively impacted by the rise in rates. “Understanding the resiliency of the housing market in a rising mortgage rate enviro

A new trend has begun to emerge. With home prices skyrocketing in the starter home category, many first-time homebuyers are skipping the traditional starter homes and moving right into their dream homes. What’s a Starter Home? According to the National Association of Realtors (NAR), simply put, a starter home is a one or two-bedroom home (sometimes even a small, three bedroom). “Prices vary widely by market but starters on average cost $150,000 to $250,000 while trade-up and

Interest rates for a 30-year fixed rate mortgage have climbed from 3.95% in the first week of January up to 4.61% last week, which marks a 7-year high according to Freddie Mac. The current pace of acceleration has been fueled by many factors. Sam Khater, Freddie Mac’s Chief Economist, had this to say: “Healthy consumer spending and higher commodity prices spooked bond markets and led to higher mortgage rates over the past week. Not only are buyers facing higher borrowing cost

Someone called the last week or so the 'eye of the storm.' The calm, rate dropping part of the storm. Rates have started to move back up on us. I locked everyone I know in last week, and I am glad I did! Rate graph since the beginning of April. Red is bad, green is good. Here is a pricing scenario: 740+ credit score, 20% down, purchase, conventional loan. 4.750% Rate (4.867% APR) I always tell people that they can have any rate that they want. I priced this scenario with