The surprising benefit that comes with higher home costs

Homebuyers in today’s market definitely face some shifting conditions. The improving economy is bringing mortgage rates up from some of the lowest levels ever observed in the housing market, and more buyers are creating increased competition for a limited inventory, driving prices up as well. However, declining affordability might, in some ways, may actually be…

2017: Time to buy Experts urge action from would-be buyers

Over the past few years, real estate professionals likely noticed a strange trend among would-be homebuyers. When mortgage rates went up even slightly from near-historic lows, shoppers tended to retreat from the market despite the fact that affordability was still well below pre-recession and all-time norms. But now that rates and prices alike are creeping…

Perception vs. Reality: Should buyers worry about rising mortgage rates?

Over the course of the year, mortgage rates hovered mostly in the mid- to low-3 percent range, giving consumers historically strong affordability for several months, even as home prices rose. But in recent weeks, real estate professionals – as well as buyers and sellers – have likely noticed mortgage rates spiking to 4 percent and…

Which is Better: A Rental or Your Own Home?

A National Housing Survey was conducted to determine if it is better to live in a rental or your own home. This chart shows the results of the survey. What the chart does not show is the national average interest rate, which is an extremely low 30 year 3.71% and 15 year 2.98%. With these…

Normal Home Prices Are Stabilizing

  _____________________________________________________________________________________________ RISMEDIA, July 29, 2011—Prices of “normal” homes—those that aren’t foreclosures or short sales—are stabilizing and the numbers of future foreclosures are falling. That “sliver of good news for consumer spending” was included in CoreLogic’s July report on housing and market trends.  In May 2011, the firm’s Home Price Index excluding distressed sales only…