How To Win A Multiple Offer Situation
Good homes that are priced right are still getting multiple offers. It is not as crazy as it used to be, but when the right house hits the market, competition shows up. At that point, it is not about luck. It is about having a solid plan.
Rates Caught a Big Break From This Week’s Inflation Reports
It was an eventful week for mortgage rates and the bond market, but ultimately a decent one. Monday's rates matched the highest levels in nearly a year, but by Friday, we were actually just a hair lower versus last Friday. Here's how we got there.
New in 2024: Significant Refinance Savings
In preparation for the upcoming lower mortgage rates, we have worked with our lending partners to put together an excellent refinance offering. We've reduced our margins by 25%, we're waiving or paying for the appraisal fee on refinances for past clients and we no longer need to charge Title Insurance fees. We also have a new rate-watch software that allows us to set YOUR desired rate, and then automatically triggers a notification when it's available.
This Upcoming Week Will Be Significantly More Volatile
In general, you should be skeptical any time someone says a future week will be more volatile. There's really no way to know such things in advance, but this time is an exception. While we can't have any idea which direction rates will move next week, we can be sure that we'll see more volatility. Part of the reason is that the outgoing week would have been hard pressed to be any less volatile.
Despite Bigger Bumps, Fed Still Sees Path to Lower Rates
It was an action-packed week for the housing and mortgage market. Wednesday's Fed announcement was the highlight, but we also got several economic reports that caused rate volatility. Thankfully, it was mostly the good kind.
The Many Flavors of HELOCs
Many borrowers are turning to 2nd mortgage products, including Home Equity Lines of Credit (HELOCs) to access their equity for things like debt consolidation, home improvement, and other endeavors. Here’s a primer on the many options in the world of 2nd mortgage financing to explore.
Bridge Loans & Recasts: How to Buy Before You Sell
Are you interested in buying your new home before you sell your current home? In market with such low inventry, this is becoming an attractive way to make your offers stonger, and to give you flexibility to watch the market for that perfect house…and perhaps even sell your current home for more money after you move out and stage it well for the market.
Expect Tougher Talk From The Fed After This Week's Inflation Data
As 2024 has progressed, economic data--especially inflation data--have made it increasingly clear that rates will not be coming down nearly as soon as the Fed (and the market) expected.
The Case of the Disappearing Rate Cuts
The Fed expected to be able to cut rates 3 times in 2024 as recently as March. Financial markets agreed. But the data that's come out since then has everyone singing a different tune. This week's data was more of an afterthought compared to last week's.
An Old Trick: The 2/1 Buydown Helps with High Rates
A temporary interest rate buy-down is a common strategy to help buyers afford the payments on their new home for the first few years.
Accessory Dwelling Units What you Need to Know
There is a Growing Trend in Housing Called “Accessory Units” or “Accessory Dwelling Units” (ADU). It can be a great way to keep homes affordable, especially for first-time buyers.