The nation’s state of economic expansion has reached its ninth consecutive year. According to the Fannie Mae Economic & Strategic Research (ESR) Group’s June 2017 Economic and Housing Outlook, this year’s economy is expected to continue growing at an annual rate of 2 percent. Although last quarter hovered around a growth rate of 1.2 percent, the second quarter is looking at a rate of 2.9 percent to round out the first half of the year.
Mortgage rates are low, which means refinancing is quickly becoming one of the most popular mortgage applications submitted to lenders. For homeowners throughout the country, refinancing to a lower rate can be a smart, cost-effective option. If you decide a refinance is right for you, then it’s important to get the best rate from your lender. Here are today’s best strategies on how to refinance to the best rate possible:
Ben Carson, the US Secretary of Housing and Urban Development, recently made the statement that homeownership remains the principal way to build wealth. Owning a home is an exciting and smart decision. Before you say yes to your dream home, however, make sure that you aren’t spending more money than you need to. Be aware of these three common mortgage mix-ups and how to avoid them.
Applying for a mortgage can be overwhelming. There are so many available mortgage types and down payment financing options, but how do you know which choice is best for your home buying needs? When you take the time to sit down with a mortgage specialist or research your options you’ll find that applying for a mortgage is actually rather straightforward. In fact, sometimes the most difficult part is recognizing where to begin the process! Here are some helpful tips to get you started.
Debt has been one of the leading reasons why many potential homebuyers have refrained from applying for a mortgage. Beginning July 29, however, this may not remain such a recurring issue. On this date, Fannie Mae will be changing its debt-to-income (DTI) ratio requirements from 45 to 50 percent. As Fannie Mae is one of the largest sources of mortgage money, this could allow a huge number of new individuals, especially millennials, to receive home-purchase mortgages.
Throughout the country, the housing market has become a seller’s market—but that doesn’t mean every home will be sold quickly. In fact, with this type of market, some homes can remain “for sale” for months, while homes around them are sold in a matter of days.
The April 2017 Zillow Real Estate Market Report states that the median value of homes in the United States has grown to its highest rate in more than a decade. Since last April, U.S. home values have risen an average of 7.3 percent, putting the average national value at $198,000.
Buying a home is one of the biggest investments you’ll likely make in your life, so it’s important to protect your property from natural disasters. This year, the National Oceanic and Atmospheric Administration (NOAA) predicts an above-average hurricane season—and with the season officially beginning this Thursday, June 1, there are several precautionary measures to take within the next couple of days to prepare your home. Here are our recommendations.
This spring, the U.S. housing market has reached recognition as one of the strongest seller’s markets ever. As a result, buyers have a lot of competition over not a lot of inventory. So how are you supposed find your dream home when you’ve got countless others trying for the same thing? Here are five tips and tricks for the homebuyer looking to achieve just that.
One of the most common questions we hear when people plan a home remodel is “when is the best time of year to make home improvements?” Of course, a great time to begin home renovations is when you have the time and the money to invest in the project. If you’ve got the financials covered and are simply wondering which home improvements to make in the upcoming months, then we’ve got the answer. Here are the top five home improvements to make during the summer.