Mortgage and Real Estate Trends That affect Your Bottom Line!
By myfirstcho6600809, Nov 19 2018 10:59PM
Home Values Continue to Rise: Home prices are forecasted to rise 5.1 percent next year, according to CoreLogic. If you plan to buy, consider doing so before prices go up again.
The Pace of Home price Appreciation Increases: The rate of home price appreciation appears to be accelerating again… at least for those homes purchased using Fannie Mae or Freddie Mac mortgages.
Consumers Have More Buying Power: Consumers Have More “Buying Power” now than they did a decade ago, according to the First American Real House Price Index. Lower rates and higher income levels have created significantly higher house-buying power.
Sellers Are Making Larger Down Payments: The typical down payment for repeat buyers was 14 percent in 2017, according to the National Association of Realtors, 55 percent of which came from their home sale.
Co-buyers Are Coming Through: More Homes are being purchased today by co-buyers, listed as multiple non-married buyers, according to ATTOM Data Solutions. Co-buyers tend to share the buying costs and allow for a larger down-payment.
Fixed-rate Loans Are Still in First Place: About 94 percent of borrower’s lock in a fixed-rate loan, according to the Mortgage Bankers Association. However, if you do not qualify for a fixed rate, lets talk about other options!
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