Blog

The housing market is constantly in the news; are we headed for a recession, or will home prices continue to increase? What about interest rates? Are you better off buying now or waiting until mortgage rates come down? How does inflation affect home prices and interest rates? Will home buying get more difficult or easier? […]

Delaying your home purchase in anticipation of price drops might negatively impact your opportunities. Regardless of the metric used to gauge house prices, expectations indicate an increase this year. Better call Tom to chat about your home needs.

A newly released study reveals that rent and housing have reached record-breaking highs in unaffordability for the average American household. Half of American renters paid more than 30 percent of their income for rent and utilities in 2022, when rents increased due to the COVID-19 epidemic, according to recently released data from Harvard University’s Joint Center for Housing Studies. Almost 50 percent of those individuals had extra high costs, such as utilities and other household upkeep, accounting for almost 50 percent of their earnings, the report shows. https://thepostmillennial.com/us-housing-rents-hit-record-high-in-2022   […]

Will interest rates stabilize or decrease? Will house prices increase or decrease? Should you buy or sell now or wait? To begin, let’s delve into some background information. In 2023, the US economy experienced growth, primarily driven by a reliance on consumer credit card debt and heightened government spending. The national debt has surpassed $34 […]

Considering the perspective on mortgage rates, it’s illuminating to reflect on the historical context. In 1971, mortgage rates stood at 7.33%. If one had chosen to postpone their home purchase until rates decreased, they would have endured a lengthy wait until 1993. During this prolonged renting period of 22 years, the real estate landscape evolved […]

Are mortgage rates causing anxiety? Brace yourself because if you think they’re intimidating now, just wait until they hit 5%. Picture this: you’re submitting your 10th or 15th offer on a property, desperately waiving inspections, throwing in an appraisal gap, and willingly offering $30,000 or more above the listing price—all in the hopes that your […]