buying a home now: Waiting to Buy, How Soon Do Homes Sell and Market Snapshots
- 05/07/18 12:40 PM
National home prices have increased by 6.7% year-over-year. Over that same time period, interest rates have remained historically low which has allowed many buyers to enter the market. As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price, but instead about the ‘long-term cost’ of the home. The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Index Report, home prices will appreciate by 5.2% over the next 12 months. What Does This Mean … (0 comments)
The economists at CoreLogic recently released a special report entitled, Evaluating the Housing Market Since the Great Recession. The goal of the report was to look at economic recovery since the Great Recession of December 2007 through June 2009. One of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from December 2012 to December 2017 to show how prices over the last five years have fared. Frank Nothaft, Chief Economist at CoreLogic, commented on the importance of breaking out the data by state, “Homeowners in the United States experienced a run-up in … (0 comments)
buying a home now: How Much Can You Pocket With Low Rates?
- 11/19/09 06:15 AM
Freddie Mac's Primary Mortgage Market Survey for Nov. 12 put the average fixed interest rate for 30-year conforming mortgages at 4.91 percent. On a $300,000 mortgage the principle and interest payment at today's average rate would be about $1,594, compared to $1,825 a year ago. That's a savings of over $231 a month, a year's worth of the savings -- $2,772 -- currently amounts to nearly two mortgage payments on a $300,000 mortgage. Less money going towards interest rates also means more purchasing power for buyers. Combined with the $8,000 tax credit and low home prices, there is no doubt that this … (1 comments)
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