Home buyers are looking for ways to whittle down their mortgage rates. As a result, a once-popular home-selling tactic is making a comeback. It’s called a temporary buydown, and it was widely used when mortgage rates were zooming upward in the late 1970s and early 1980s. The revival of the temporary buydown is timely, as…
As mortgage rates continue their stomach-turning rise and serious shoppers compete for a limited supply of homes, would-be home buyers may be struggling to make a successful offer before their mortgage preapproval letter expires. According to Zillow, more than half of home buyers this year reported making two or more offers before closing on a home —…
Record-low housing inventory, high prices and low mortgage rates made an interesting backdrop for the 2021 real estate market. Millions fought tooth and nail to close on homes throughout the year, but millions more were unsuccessful in their attempts. The 2021 housing market was booming, but that doesn’t mean buying a house was a breeze….
While it’s a notoriously tough time to buy a home, the incentives to sell the one you’re in could be too good to pass up. Most (89%) of current homeowners who want to list their homes right now say something is preventing them from doing so, according to NerdWallet’s recently released 2022 Home Buyer Report. The…
Your home equity shouldn’t be the first line of defense when the roof falls in. But it can be a useful resource to seal a temporary financial gap, and most homeowners have a lot more wealth tied up in their property than they did a couple of years ago. In the third quarter of 2021,…
Traditionally, the spring months herald the beginning of homebuying season. But major shifts in the housing market disrupted seasonal patterns in 2020 and 2021, and the changes may be long-lasting. Here’s what’s different, as well as approaches that buyers and sellers can take in what’s become a year-round homebuying season. Why spring was historically the…
If you’re a city dweller and have found yourself frustrated with the local real estate market, relocating to a smaller town might seem like an attractive possibility in the near future. Maybe you’re reaching a different stage of your life — such as growing your family or approaching retirement — and you’re dreaming of a backyard…
As interest rates fell and home prices rose last year, Carlette Duffy of Indianapolis applied to refinance her mortgage and got a gut-punch of a surprise when the appraisal came in. Duffy estimated her home was worth $185,000, but the appraisal ordered by the lender valued her home at $125,000. She purchased a market analysis,…
Mortgage rates won’t change much in August, but they’re more likely to edge down than to go up. I wouldn’t be surprised if the average rate on the 30-year fixed dips to 2.75% annual percentage rate at some point in August. The monthly average should end up somewhere between 2.8% and 2.9%. The COVID-19 pandemic…
An iBuyer can help you to sell your house quickly by skipping some of the hassles of having a home on the market and letting you set your own timeline. But selling to an iBuyer — a real estate company that uses tech to buy and resell houses — isn’t for everyone. Not all homes will qualify, even…
