Category: For Buyers

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Why You Can’t Compare Now to the ‘Unicorn’ Years of the Housing Market [INFOGRAPHIC]

Written by Pembroke Pines Mortgage Syndicated User on June 10, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Infographics, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Pricing.

Some HighlightsComparing housing market metrics from one year to another can be challenging in a normal housing market – and the last few years have been anything but normal. In a way, they were ‘unicorn’ years.Expect unsettling housing market headlines this year, mostly due to unfair comparisons with the ‘unicorn’ years.Connect with a local real estate professional who can share the data that puts those headlines in the proper perspective.

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This Real Estate Market Is the Strongest of Our Lifetime

Written by Pembroke Pines Mortgage Syndicated User on June 9, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

When you look at the numbers today, the one thing that stands out is the strength of this housing market. We can see this is one of the most foundationally strong housing markets of our lifetime – if not the strongest housing market of our lifetime. Here are two fundamentals that prove this point. 1. The Current Mortgage Rate on Existing MortgagesFirst, let’s look at the current rate on existing mortgages. According to the Federal Housing Finance Agency (FHFA), as of the fourth quarter of last year, over 80% of existing mortgages have a rate below 5%. That’s significant. And, to take that...

The Main Reason Mortgage Rates Are So High

Written by Pembroke Pines Mortgage Syndicated User on June 8, 2023. Posted in For Buyers, Interest Rates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions: Why Are Mortgage Rates So High?When Will Rates Go Back Down?Here’s context you need to help answer those questions.1. Why Are Mortgage Rates So High? The 30-year fixed-rate mortgage is largely influenced by the supply and demand for mortgage-backed securities (MBS). According to Investopedia: “Mortgage-backed securities (MBS) are...

Real Estate Is Still Considered the Best Long-Term Investment

Written by Pembroke Pines Mortgage Syndicated User on June 7, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

With all the headlines circulating about home prices and rising mortgage rates, you may wonder if it still makes sense to invest in homeownership right now. A recent poll from Gallup shows the answer is yes. In fact, real estate was voted the best long-term investment for the 11th consecutive year, consistently beating other investment types like gold, stocks, and bonds (see graph below):If you’re thinking about purchasing a home, let this poll reassure you. Even with everything happening today, Americans recognize owning a home is a powerful financial decision.Why Do Americans Still Feel...

Oops! Home Prices Didn’t Crash After All

Written by Pembroke Pines Mortgage Syndicated User on June 6, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Pricing.

During the fourth quarter of last year, many housing experts predicted home prices were going to crash this year. Here are a few of those forecasts:Jeremy Siegel, Russell E. Palmer Professor Emeritus of Finance at the Wharton School of Business:“I expect housing prices fall 10% to 15%, and the housing prices are accelerating on the downside.”Mark Zandi, Chief Economist at Moody’s Analytics:“Buckle in. Assuming rates remain near their current 6.5% and the economy skirts recession, then national house prices will fall almost 10% peak-to-trough. Most of those declines will happen sooner...

Reasons To Own Your Home [INFOGRAPHIC]

Written by Pembroke Pines Mortgage Syndicated User on June 3, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

Some HighlightsJune is National Homeownership Month, and it’s a perfect time to think about all the benefits that come with owning your home.Owning a home not only makes you feel proud and accomplished, but it’s also a big step toward having a secure and stable financial future.Are you ready to enjoy all the amazing advantages that come with owning a home? Get in touch with a local real estate agent to start the process today.

The True Value of Homeownership

Written by Pembroke Pines Mortgage Syndicated User on June 2, 2023. Posted in First Time Home Buyers, For Buyers, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

Buying and owning your home can make a big difference in your life by bringing you joy and a sense of belonging. And with June being National Homeownership Month, it’s the perfect time to think about all the benefits homeownership provides. Of course, there are financial reasons to buy a house, but it’s important to consider the non-financial benefits that make a home more than just where you live.Here are three ways owning your home can give you a sense of accomplishment, happiness, and pride. You May Feel Happier and More Fulfilled Owning a home is associated with better mental health and...

Keys to Success for First-Time Homebuyers

Written by Pembroke Pines Mortgage Syndicated User on June 1, 2023. Posted in Down Payments, First Time Home Buyers, For Buyers, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

Buying your first home is an exciting decision and a major milestone that has the power to change your life for the better. As a first-time homebuyer, it’s a vision you can bring to life, but, as the National Association of Realtors (NAR) shares, you’ll have to overcome some factors that have made it more challenging in recent years:“Since 2011, the share of first-time home buyers has been under the historical norm of 40% as buyers face tight inventory, rising home prices, rising rents and high student debt loads.”That said, if you’re looking to purchase your first home, here are two things...

Today’s Real Estate Market: The ‘Unicorns’ Have Galloped Off

Written by Pembroke Pines Mortgage Syndicated User on May 31, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Pricing.

Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market making the comparison less meaningful or accurate. Unpredictable events can have a significant impact on the circumstances and outcomes being compared. Comparing this year’s numbers to the two ‘unicorn’ years we just experienced is almost worthless. By ‘unicorn,’ this is the less common definition of the word:“Something that is greatly desired but difficult or impossible to find.” The pandemic profoundly changed real estate over the last few...

Owning a Home Helps Protect Against Inflation

Written by Pembroke Pines Mortgage Syndicated User on May 25, 2023. Posted in First Time Home Buyers, For Buyers, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Rent vs. Buy.

You’re probably feeling the impact of high inflation every day as prices have gone up on groceries, gas, and more. If you’re a renter, you’re likely experiencing it a lot as your rent continues to rise. Between all of those elevated costs and uncertainty about a potential recession, you may be wondering if it still makes sense to buy a home today. The short answer is – it does. Here’s why. Homeownership actually shields you from the rising costs inflation brings.Freddie Mac explains how: “Not only will buying today help you begin to build equity, a fixed-rate mortgage can stabilize your...