Vista Of Greatwood (Sugar Land, TX)
By Shayne Stone, "Your Rock Solid Choice Realtor" RETIRED
(HomeSmart)
How Todays Mortgage Rates Impact Your Home PurchaseIf you're planning to buy a home, its critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that's within your financial reach. Mortgage rates directly impact the monthly payment you'll have on the home you purchase. So, when rates rise, so does the monthly payment you're able to lock in on your home loan. In a rising-rate environment like were in today, that could limit your future purchasing power.Today, the average 30-year fixed mortgage rate is above 5%, and in the near term, experts say that'll likely go up in the months ahead. You have the opportunity to get ahead of that increase if you buy now before that impacts your purchasing powe...
Comments 3
By Shayne Stone, "Your Rock Solid Choice Realtor" RETIRED
(HomeSmart)
An Expert Advisor Will Give You the Best Advice in Today's MarketHaving an experienced guide coaching you through the process of buying or selling a home is important in a normal market but todays market is far from normal. As a result, an expert real estate advisor isnt just good to have by your side, they're essential.Todays housing market is full of extremes. Experts project mortgage rates will continue to rise this year, and that's driving significant demand for homes as buyers want to make their purchases before rates climb even higher. At the same time, an absence of sellers is leading to record-low housing inventory. This imbalance in supply and demand is creating bidding wars and driving home price appreciation as well as considerable gains in home equity.These market conditions...
Comments 2
Sugar Land, TX Real Estate Professionals