Recently, Freddie Mac published an Insight Report titled “Nowhere to go but up? How increasing Mortgage Rates Could Affect Housing.” The report focused on the impact the projected rise in mortgage rates might have on the housing market this year. Many believe that an increase in mortgage rates will cause a slowdown in purchases which […]
In a CNBC article, self-made millionaire David Bach says don’t rent a home, buy one! He explained that: “The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a […]
What truly causes a housing bubble, rising home prices, and the inevitable crash? For the best explanation, let’s go to a person who correctly called the last housing bubble – a year before it happened. “A bubble requires both overvaluation based on fundamentals and speculation. It is natural to focus on an asset’s fundamental value, […]
There are many benefits to homeownership. One of the top benefits is protecting yourself from rising rents, by locking in your housing cost for the life of your mortgage. Don’t Become Trapped A recent article by Apartment List addressed rising rents by stating: “Rents are up 2.7% year-over-year at the national level. Year-over-year growth continues […]
Why is there so much paperwork mandated by the lenders for a mortgage loan application when buying a home today? It seems that they need to know everything about you and requires three separate sources to validate each and every entry on the application form. Many buyers are being told by friends and family that […]
Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed. Zillow recently reported that: “In reality, buying or renting a home is an intensely […]
Which is better: single-family, detached homes or a townhomes? It’s no secret that buying a home is probably the biggest investment you’re ever going to make. It’s also one of the most popular – 88% of U.S. households believe owning a home is a good financial decision, according to the National Association of Realtors 2015 […]
Multigenerational homes are coming back in a big way! In the 1950s, about 21%, or 32.2 million Americans shared a roof with their grown children or parents. According to an article by Realtor.com, “Nearly 1 in 5 Americans is now living in a multigenerational household – a household with two or more adult generations, or […]
Interested home-buyers all too often disqualify themselves because of their credit score. The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market. One such study by the Wharton School of Business at the […]
It appears a homeowner’s net worth is still greater than a renter’s. Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, looked into the net worth of owning a home rather than renting […]
