First Time Home Buyers
“Short of a war or stock market crash…”
This month, Arch Mortgage Insurance released their spring Housing and Mortgage Market Review. The report explained that an increase in mortgage rates and/or home prices would impact monthly payments this way: A 5% increase in home prices increases payments by roughly 5% A 1% rise in interest rates increases payments by roughly 13% or 14% […]
Read MoreNew Study Shows ‘Best States for Millennials’
A new study by WalletHub used “30 key metrics, ranging from share of millennials to millennial unemployment rate to millennial voter-turnout rate” to find out which states are the ‘Best States for Millennials.’ The Top 5 Best States for Millennials are: Washington, D.C. (also ranks highest in percentage of millennials already living there!) North Dakota […]
Read MoreBuying a Home Is Cheaper Than Renting in the Majority of the US
The results of the 2018 Rental Affordability Report from ATTOM show that buying a median-priced home is more affordable than renting a three-bedroom property in 54% of U.S. counties analyzed for the report. The updated numbers show that renting a three-bedroom property in the United States requires an average of 38.8% of income. The least affordable market for […]
Read MoreHome Buying Myths Slayed [INFOGRAPHIC]
Some Highlights:
The average down payment for first-time homebuyers is only 6%!
Despite mortgage interest rates being over 4%, rates are still below historic numbers.
88% of property managers raised their rents in the last 12 months!
The credit scor…
Is Family Mortgage Debt Out of Control?
Some homeowners have recently done a “cash out” refinance and have taken a portion of their increased equity from their house. Others have sold their homes and purchased more expensive homes with larger mortgages. At the same time, first-time buyers have become homeowners and now have mortgage payments for the first time. These developments have […]
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