If you've been keeping up with the news lately, you've probably come across headlines talking about the increase in foreclosures in today’s housing market. This may have left you with some uncertainty, especially if you're considering buying a home. It’s important to understand the context of these reports to know the truth about what’s happening today. According to a recent report from ATTOM, a property data provider, foreclosure filings are up 2% compared to the previous quarter and 8% … [Read more...]
Real Estate Continues To Be the Best Investment
Owning Your Home Helps You Build Wealth
You may have heard some people say it’s better to rent than buy a home right now. But, even today, there are lots of good reasons to become a homeowner. One of them is that owning a home is typically viewed as a good long-term investment that helps your net worth grow over time. Homeownership Builds Wealth Regardless of Income Level You may be surprised to learn homeowners across various income levels have a much higher net worth than renters who make the same amount. Data from First … [Read more...]
Explaining Today’s Mortgage Rates
If you’re following mortgage rates because you know they impact your borrowing costs, you may be wondering what the future holds for them. Unfortunately, there’s no easy way to answer that question because mortgage rates are notoriously hard to forecast. But, there’s one thing that’s historically a good indicator of what’ll happen with rates, and that’s the relationship between the 30-Year Mortgage Rate and the 10-Year Treasury Yield. Here’s a graph showing those two metrics since Freddie … [Read more...]
Homebuyers Are Getting Used to the New Normal
Before you decide to sell your house, it’s important to know what you can expect in the current housing market. One positive trend right now is homebuyers are adapting to today’s mortgage rates and getting used to them as the new normal. To better understand what’s been happening with mortgage rates lately, the graph below shows the trend for the 30-year fixed mortgage rate from Freddie Mac since last October. As you can see, rates have been between 6% and 7% pretty consistently for the past … [Read more...]
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