If you purchased a home in the 80’s it likely included a double-digit mortgage interest rate. According to an article on ValuePenguin.com “over the past 48 years, interest rates on the 30-year fixed-rate mortgage have ranged from as high as 18.63% in 1981 to as low as 3.31% in 2012.” You can read the complete article including historical graphs here:
A cash-out refinance provides you access to the increased equity value of your home. With low interest rates this can be an attractive option to many homeowners.
Many key factors affect mortgage rates, with global financial market trends leading the indicators. Rates dropped quickly this week according to this article: Mortgage Rates Drop Quickly as Market Panic Sets In, written by Matthew Graham, dated May 23, 2019.
What makes a residential property interesting to you may be quite different than what makes a property interesting to your friends, family, neighbor or co-worker. We aren’t talking about your typical home, we’re talking about uniquely interesting homes. Maybe who owns it or owned it makes it interesting, like the homes of the rich and famous. Maybe the original architect is notorious. Or maybe there is some other surprise that makes a home unique.
Federal Reserve Chairman Jerome Powell announced at a press conference in April: It’s “a great time to be patient”. This statement followed the Federal Reserve vote to hold interest rates steady.
In many US cities home price increases have outpaced wage growth for several years. Recent months have shown lower increases, creating a buyer’s market as we enter the Spring home buying season.
Forbes.com article: Best Places To own A Vacation Rental Property in 2019 provides insight into the short-term rental profitability including the criteria to consider:
For those who have considered buying a home, but have not yet pulled the trigger, this may be the year to make that move. After multiple years of a seller’s market, many sources reflect a shift to a buyer’s market.
Did you know? 22 million people live in manufactured homes in the US! Whether you call it a manufactured home, pre-fab home, modular home, or a tiny home; the US home buyer market is taking a new look at manufactured homes.
The National Association of REALTORS® (NAR) offers great advice to help you avoid being taken advantage of from an email scam.