Financial Fundamentals for First-Time Homebuyers

Written by Jupiter Florida Mortgage Syndicated User on December 27, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Jupiter Florida Mortgage Rates, Jupiter Mortgage.

Are you prepping to buy your first home? If so, one of the steps you should take early on is making sure you’re financially ready for your purchase. Here are just a few of the financial fundamentals you’ll need to focus on as you set out to buy a home. Build Your Credit Your credit is one element that helps determine which home loan you’ll qualify for. It also impacts your mortgage interest rate. While there are many factors that go into your mortgage application, a higher credit score could lead to a lower monthly payment in the long run. So how do you make sure your credit is in the best...

What Makes a House a Home?

Written by Jupiter Florida Mortgage Syndicated User on December 23, 2022. Posted in First Time Home Buyers, For Buyers, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers.

There’s no denying the long-term financial benefits of owning a home, but today’s housing market may have you wondering if now’s still the time to buy. While the financial aspects of buying a home are important, the non-financial and emotional reasons are too. Home means something different to all of us. Whether it’s sharing memories with loved ones at the kitchen table or settling in to read a book in a favorite chair, the emotional connections to our homes can be just as important as the financial ones. Here are some of the things that make a house a home. 1. You Can Be Proud of Your Accomplishment Buying...

What To Expect From the Housing Market in 2023

Written by Jupiter Florida Mortgage Syndicated User on December 22, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Pricing.

The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates. And in many ways, it’s put the market into a reset position. As the Federal Reserve (the Fed) made moves this year to try to lower inflation, mortgage rates more than doubled – something that’s never happened before in a calendar year. This had a cascading impact on buyer activity, the balance between supply and demand, and ultimately home prices. And as all those things changed, some buyers and sellers put their plans on hold and decided to wait until the market felt a bit more predictable. But...

Mortgage Rates Are Dropping. What Does That Mean for You?

Written by Jupiter Florida Mortgage Syndicated User on December 20, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers.

Mortgage rates have been a hot topic in the housing market over the past 12 months. Compared to the beginning of 2022, rates have risen dramatically. Now they’re dropping, and that has to do with everything happening in the economy. Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), explains it well by saying: “Mortgage rates dropped even further this week as two main factors affecting today’s mortgage market became more favorable. Inflation continued to ease while the Federal Reserve switched to a smaller interest rate hike. As a result,...

2023 Housing Market Forecast [INFOGRAPHIC]

Written by Jupiter Florida Mortgage Syndicated User on December 17, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Jupiter Florida Mortgage Rates, Jupiter Mortgage.

Some Highlights From home sales to prices, the 2023 housing market will be defined by mortgage rates. And where rates go depends on what happens with inflation. If you’re thinking of buying or selling a home this year, let’s connect so you understand where the housing market is headed in 2023. Sources: realtor.com Home Price Expectations Survey (HPES) National Association of Realtors (NAR) Mortgage Bankers Association (MBA) Fannie Mae Freddie Mac Zelman & Associates Greg McBride, Chief Financial Analyst, Bankrate Content previously posted on Keeping Current Matters

You May Have More Negotiation Power When You Buy a Home Today

Written by Jupiter Florida Mortgage Syndicated User on December 15, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers.

Did the frequency and intensity of bidding wars over the past two years make you put your home search on hold? If so, you should know the hyper competitive market has cooled this year as buyer demand has moderated and housing supply has grown. Those two factors combined mean you may see less competition from other buyers. And with less competition comes more opportunity. Here are two trends that may be the news you need to reenter the market. 1. The Return of Contingencies Over the last two years, more buyers were willing to skip important steps in the homebuying process, like the appraisal...

Homeownership Is an Investment in Your Future

Written by Jupiter Florida Mortgage Syndicated User on December 9, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers, Rent vs. Buy.

There are many people thinking about buying a home, but with everything affecting the economy, some are wondering if it’s a smart decision to buy now or if it makes more sense to wait it out. As Bob Broeksmit, President and CEO of the Mortgage Bankers Association (MBA), explains: “The desire for homeownership is strong. Many prospective buyers are waiting for the volatility in mortgage rates to subside, as well as for a clearer picture of the economic outlook.” If you’re in that position, remember that it’s important to consider not just what’s happening today but also what benefits you may...

Key Advantages of Buying a Home Today

Written by Jupiter Florida Mortgage Syndicated User on December 8, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers.

There’s no doubt buying a home today is different than it was over the past couple of years, and the shift in the market has led to advantages for buyers today. Right now, there are specific reasons that make this housing market attractive for those who’ve thought about buying but have sidelined their search due to rising mortgage rates. Buying a home in any market is a personal decision, and the best way to make that decision is to educate yourself on the facts, not following sensationalized headlines in the news today. The reality is, headlines do more to terrify people thinking about buying...

What’s Going on with Home Prices? Ask a Professional.

Written by Jupiter Florida Mortgage Syndicated User on December 7, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Pricing.

If you’re thinking about buying or selling a home this year, you may have questions about what’s happening with home prices today as the market cools. In the simplest sense, nationally, experts don’t expect prices to come crashing down, but the level of home price moderation will depend on factors like supply and demand in each local market. That means, moving forward, home price appreciation will continue to vary by location, with more significant changes happening in overheated areas. Here’s a quick snapshot of what the experts are saying: Danielle Hale, Chief Economist at realtor.com, says: “The...

Prioritizing Your Wants and Needs as a Homebuyer in Today’s Market

Written by Jupiter Florida Mortgage Syndicated User on December 6, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers.

There’s no denying mortgage rates are higher now than they were last year. And if you’re thinking about buying a home, this may be top of mind for you. That’s because those higher rates impact how much it costs to borrow money for your home loan. As you set out to make a purchase this winter, you’ll need to be strategic so you can find a home that meets your needs and budget. Danielle Hale, Chief Economist at realtor.com, explains: “The key to making a good decision in this challenging housing market is to be laser focused on what you need now and in the years ahead, . . . Another key point...

Category: For Buyers