Wednesday, August 7, 2024 / by Dick Keenan
Mortgage rates have been a major topic in the housing market due to their significant impact on affordability. If you're looking to buy a home, you've likely been waiting for rates to drop. Good news: the past few weeks have shown a promising decline in rates.
Mortgage Rates Trend Down in Recent Weeks
There's exciting news about mortgage rates. Following recent reports on the economy, inflation, unemployment rates, and comments from the Federal Reserve, mortgage rates have started to decrease. According to Freddie Mac, rates are now at their lowest level since February. Here's a visual representation of this downward trend:
You might be tempted to wait and see if rates will drop even further. However, it's important to keep things in perspective. The record-low rates from the pandemic are a thing of the past. If you're hoping for a 3% mortgage rate again, experts agree that’s unlikely. As Greg McBride, Chief Financial Analyst at Bankrate, explains:
"The hopes for lo. ...
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Friday, June 21, 2024 / by Dick Keenan
Buying a home has become more challenging with today’s mortgage rates and rising home prices. This difficulty might have you exploring grants and assistance programs to see if you qualify for any help. However, many homebuyers are unsure where to begin.
A recent study by the Bank of America Institute revealed that 53% of prospective buyers feel they need more information about homebuying grant programs. Here’s some information to help bridge that knowledge gap.
What Is Down Payment Assistance?
Down payment assistance (DPA) programs offer loans and grants to cover part or all of a homebuyer’s down payment and closing costs. There are over 2,000 DPA programs nationwide, each varying by location. Many buyers could receive thousands of dollars in assistance if they qualify.
Additionally, you might not need to save as much for your down payment as you think. Contrary to popular belief, you typically don’t have to put down 20% unless specified by your loan. ...
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Monday, December 28, 2020 / by Traci Pimentel
It may seem hard to imagine that the home you’re in today – whether it’s your starter home or just one you’ve fallen in love with along the way – might not be your forever home.
Many needs have changed in 2020, and it’s okay to admit if your house no longer fits your lifestyle. If you’re now working remotely, facilitating virtual school, trying to exercise at home, or simply just spending more time in your own four walls, you may be bursting at the seams in your current house.
According to the latest Home Price Insights from CoreLogic, prices have appreciated 7.3% year-over-year. At the same time, the National Association of Realtors (NAR) reports that inventory has dropped 22% from one year ago.These two statistics are directly related to one another. As inventory has decreased and demand has increased, prices have been driven up.
This is great news if you own a home and you&rsqu. ...
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Monday, November 23, 2020 / by Traci Pimentel
Why rent when you can buy? Ideal investment property, first home or down-sizing-dwelling. Lower level condo has no stairs to navigate and is move-in-ready. Fresh interior paint and new carpets just installed. This cozy condo has a private fenced-in patio to enjoy outdoor reclining. Spacious bedroom has a picture window & walk-in closet. Take advantage of the community pool and common green spaces Las Palmas affords. One covered car space included. Attached laundry room.
The Keenan Carter Group DRE# 00860187
Keller Williams Realty Central Coast DRE# 02005015
Each Office is Independently Owned and Operated.
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