52 Weekends in the Poconos
As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate. The latest data on home prices seems to confirm that trend.
According to data from CoreLogic, home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green:
This is largely due to...
Just because mortgage rates are on the rise doesn’t mean you can’t buy a home this year. The keys will be knowing your budget, maintaining perspective and having a plan.
Mortgage rates are currently averaging 4.67% — up from just 3.22% at the start of the year, according to Freddie Mac. As a result of rising rates and rising home prices, the typical mortgage payment is now $500 higher than it was at the start of the year.
“If you’re a buyer, don’t get spooked as long as [higher rates are] not p...
If you’re looking to buy a home, you may be wondering how your student loan debt could impact those plans. Do you have to wait until you’ve paid off your student loans before you can buy your first home? Or could you qualify for a home loan with that debt?
To give you the answers you’re searching for, let’s take a look at what recent data shows. That way, you know what to expect and what to do next to achieve your dream of becoming a homeowner. While everyone’s situation is unique, your goal ma...
If you’re thinking of buying a home in today’s housing market, you may be wondering how strong your investment will be. You might be asking yourself: if I buy a home now, will it lose value? Or will it continue to appreciate going forward? The good news is, according to the experts, home prices are not projected to decline. Here’s why.
With buyers still outweighing sellers, home prices are forecast to continue climbing in 2022, just at a slower or more moderate pace. Why the continued increas...
For first-time homebuyers, Pennsylvania is a relatively affordable market with a median home values statewide that are some 30 percent lower than the national median. The commonwealth has a number of helpful programs for first-time homebuyers — and other categories of homebuyers — to obtain affordable mortgages. In addition, there are Pennsylvania home assistance programs that can provide funds for down payments and closing costs.
The Pennsylvania Housing Finance Agency (PHFA) partners with le...
The U.S. entered 2021 with pandemic fatigue, though it hadn't – and still hasn't – slowed down homebuyer activity. The first months of the year have seen rapid growth in home prices as low inventory of houses on the market combined with high buyer demand creates fierce competition in suburban areas and medium-to-small metro areas across the country.
Looking forward to late spring and summer, the fast rollout of COVID-19 vaccines is making many hopeful that an end to the pandemic is in sight....
Making the right offer is crucial
Home sales have skyrocketed in recent years. At the same time, inventory has declined. That means there’s a strong sellers’ market in many parts of the country, with more buyers than homes available.
The result is that home buyers often have to pay more than the list price if they want to beat out the competition.
This can be a tricky situation to navigate.
It’s hard to know how much over asking price is ‘reasonable’ — especially when you’re under pressure to m...
