Looking to buy a new home? One thing you want to know is the difference between a preapproval and a prequalification letter.
Mortgage rates have increased significantly since the beginning of the year. Each Thursday, Freddie Mac releases its Primary Mortgage Market Survey. According to the latest survey, the average 30-year fixed-rate mortgage has risen from 3.22% at the start of the year to 3.55% as of last week. This is important to note because any increase in mortgage rates changes what a purchaser can afford. To give you an idea of how rising mortgage rates impact your purchasing power, see the table below:
Considering buying a new home and getting a loan? Let's talk about the importance of lenders, fee sheets, and understanding the costs associated with your loan. I'd love to help connect you with a few lenders we work with locally and who also know we teach our clients to shop the loan and understand what they are paying for BEFORE they are sitting at the closing table.
How did the Real Estate Market fair in 2021?
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Year End Totals 2021 vs 2020
Closing Volume: +3.6% higher @ 34,835 closings for 2021
Average Closed Prices: + 21% ($522,592)
Transaction Management & Office Coordinator
We are seeking an organized, personable, and detail-oriented person to join our team. This is a part time position, and we would love to find a person strong in attention to detail, mature thinking skills, and problem-solving skills. We would love to have someone who is available to work at our office between the hours of 9am – 2pm or something close to that window.
From the opportunity to take advantage of today’s low mortgage rates to changing homeowner needs, Americans have more motivation than ever to buy a home. According to the experts, buyers are making moves right now, creating an unseasonably strong housing market for this time of year.