Two Questions Every Homebuyer Should Ask Themselves Right Now

Written by Jupiter Florida Mortgage Syndicated User on October 7, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers, Pricing.

Rising interest rates have begun to slow an overheated housing market as monthly mortgage payments have risen dramatically since the beginning of the year. This is leaving some people who want to purchase a home priced out of the market and others wondering if now is the time to buy one. But this rise in borrowing cost shows no signs of letting up soon. Economic uncertainty and the volatility of the financial markets are causing mortgage rates to rise. George Ratiu, Senior Economist and Manager of Economic Research at realtor.com, says this: “While even two months ago rates above 7% may have...

The Long-Term Benefit of Homeownership

Written by Jupiter Florida Mortgage Syndicated User on October 6, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers, Pricing.

Today’s cooling housing market, the rise in mortgage rates, and mounting economic concerns have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to factor the long-term benefits of homeownership into your decision. Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how you gain equity and wealth as home values grow with time. The National Association of...

The Cost of Waiting for Mortgage Rates To Go Down

Written by Jupiter Florida Mortgage Syndicated User on October 5, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers.

Mortgage rates have increased significantly in recent weeks. And that may mean you have questions about what this means for you if you’re planning to buy a home. Here’s some information that can help you make an informed decision when you set your homebuying plans. The Impact of Rising Mortgage Rates As mortgage rates rise, they impact your purchasing power by raising the cost of buying a home and limiting how much you can comfortably afford. Here’s how it works. Let’s assume you want to buy a $400,000 home (the median-priced home according to the National Association of Realtors is $389,500)....

Why Buying a Home May Make More Sense Than Renting [INFOGRAPHIC]

Written by Jupiter Florida Mortgage Syndicated User on October 1, 2022. Posted in First Time Home Buyers, For Buyers, Infographics, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Rent vs. Buy.

Some Highlights If you’re trying to decide whether to rent or buy a home, consider the advantages homeownership offers. Buying a home can help you escape the cycle of rising rents, it’s a powerful wealth-building tool, and it’s typically considered a good hedge against inflation. If you’re ready to take advantage of the benefits of homeownership, let’s connect to explore your options. Content previously posted on Keeping Current Matters

Why You Should Consider Condos as Part of Your Home Search

Written by Jupiter Florida Mortgage Syndicated User on September 29, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Jupiter Florida Mortgage Rates, Jupiter Mortgage.

The historically low inventory over the past few years led to challenges for many buyers trying to find a home that met their needs and their budget. If you’re in the same boat, you should know the recent shift in the housing market may have opened up doors for you to restart your search. The inventory of homes for sale has increased this year, and that’s giving buyers much needed options. As Danielle Hale, Chief Economist at realtor.com, says: “. . . today’s shoppers have more than 5 homes to consider for every 4 they had at this time a year ago.” But perspective is important. Overall, housing...

A Crucial First Step: Mortgage Pre-Approval [INFOGRAPHIC]

Written by Jupiter Florida Mortgage Syndicated User on September 17, 2022. Posted in First Time Home Buyers, For Buyers, Infographics, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers.

Some Highlights Mortgage pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, determined how much you’re qualified to borrow. Being pre-approved for a loan can give you clarity while planning your homebuying budget, confidence in your ability to secure a loan, and helps sellers know your offer is serious. Connect with a trusted professional to learn more and start your homebuying process today. Content previously posted on Keeping Current Matters

Buyers Are Regaining Some of Their Negotiation Power in Today’s Housing Market

Written by Jupiter Florida Mortgage Syndicated User on September 16, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers.

If you’re thinking about buying a home today, there’s welcome news. Even though it’s still a sellers’ market, it’s a more moderate sellers’ market than last year. And the days of feeling like you may need to waive contingencies or pay drastically over asking price to get your offer considered may be coming to a close. Today, you should have less competition and more negotiating power as a buyer. That’s because the intensity of buyer demand and bidding wars is easing this year. So, if bidding wars were the biggest factor that had you sitting on the sidelines, here are two trends that may be...

Three Things Buyers Can Do in Today’s Housing Market

Written by Jupiter Florida Mortgage Syndicated User on September 14, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers.

It’s clear the 2022 housing market has been defined by rising mortgage rates. With rates on the rise, it’s also become more costly to purchase a home. According to the National Association of Realtors (NAR): “Compared to one year ago, the monthly mortgage payment rose to $1,944 from $1,265, an increase of 53.7%.” If you’re thinking of buying a home or have been trying to recently, that’s a big increase in a monthly mortgage payment – and it may be causing you to press pause on your plans. This jump is making homes less affordable, especially compared to the last two years when mortgage rates...

How Owning a Home Builds Your Net Worth

Written by Jupiter Florida Mortgage Syndicated User on September 7, 2022. Posted in First Time Home Buyers, For Buyers, Jupiter Florida Mortgage Rates, Jupiter Mortgage.

Owning a home is a major financial milestone and an achievement to take pride in. One major reason: the equity you build as a homeowner gives your net worth a big boost. And with high inflation right now, the link between owning your home and building your wealth is especially important. If you’re looking to increase your financial security, here’s why now could be a good time to start on your journey toward homeownership. Owning a Home Is a Key Ingredient for Financial Success A report from the National Association of Realtors (NAR) details several homeownership trends, including a significant...

New Homes May Have the Incentives You’re Looking for Today

Written by Jupiter Florida Mortgage Syndicated User on September 2, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers, New Construction.

According to the U.S. Census Bureau, this year, builders are on pace to complete more than a million new homes in this country. If you’ve had trouble finding a home to buy over the past year, it may be time to work with your trusted agent to consider a new build and the incentives that come with it. Here’s why. The Supply of Newly Built Homes Is Rising When looking for a home, you can choose between existing homes (those that are already built and previously owned) and newly constructed ones. While the inventory of existing homes is on the rise today, it’s still in tight supply, meaning it...

Category: First Time Home Buyers