Mortgage Rates | Blog

Thursday, July 18, 2024   /   by Joyce Dungca

Unlocking Homebuyer Opportunities in 2024

There’s no arguing this past year has been difficult for homebuyers. And if you’re someone who has started the process of searching for a home, maybe you put your search on hold because the challenges in today’s market felt like too much to tackle. You’re not alone in that. A Bright MLS study found some of the top reasons buyers paused their search in late 2023 and early 2024 were:

They couldn’t find anything in their price range
They didn’t have any successful offers or had difficulty competing
They couldn’t find the right home

If any of these sound like why you stopped looking, here’s what you need to know. The housing market is in a transition in the second half of 2024. Here are four reasons why this may be your chance to jump back in.
1. The Supply of Homes for Sale Is Growing
One of the most significant shifts in the market this year is how the months’ supply of homes for s. ...

  team raj jaggi, buyers, sellers, housing market, mortgage rates, new home construction, home buyers

Tuesday, July 16, 2024   /   by Joyce Dungca

How To Determine if You’re Ready To Buy a Home

If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind. You’re thinking about your finances, today’s mortgage rates and home prices, the limited supply of homes for sale, and more. And, you’re juggling how all of those things will impact the choice you’ll make.
While housing market conditions are definitely a factor in your decision, your own personal situation and your finances matter too. As an article from NerdWallet says:
“Housing market trends give important context. But whether this is a good time to buy a house also depends on your financial situation, life goals and readiness to become a homeowner.”
Instead of trying to time the market, focus on what you can control. Here are a few questions that can give you clarity on whether you’re ready to make your move.
1. Do You Have a Stable Job?
. ...

  team raj jaggi, buyers, sellers, housing market, mortgage rates, home prices

Friday, July 12, 2024   /   by Joyce Dungca

How Do Presidential Elections Impact the Housing Market?

Some Highlights

Are you wondering if the upcoming election will have an impact on the housing market? Here’s what history tells us you need to know if you’re considering a move.?
Data shows home sales slow in November but quickly bounce back and rise the following year. Prices usually keep climbing. And mortgage rates typically come down slightly.
Presidential elections have only a small and temporary impact on the housing market. If you have questions, let’s connect. ...

  team raj jaggi, buyers, sellers, housing market, mortgage rates

Thursday, July 4, 2024   /   by Joyce Dungca

Homeownership: The Heart of the American Dream

Everyone’s vision for the future is personal and unique. But for many, common goals include success, freedom, and prosperity — values closely tied to having your own home and the iconic feeling of achieving the American Dream.
A recent survey by Bankrate reveals exactly that: homeownership is still a part of the American Dream. The results show, at 78%, that owning a home tops the list, surpassing other significant milestones such as retirement, having a successful career, and more (see below):

So, why is buying a home important to so many today? One reason is the financial and physical security it provides. Many people see homeownership as a way to reduce stress because owning a home with a fixed-rate mortgage stabilizes what is likely their largest monthly expense.
Another factor is the potential for building wealth. That’s because, over time, homeowners gain equity as they pay down their mortgage and a. ...

  team raj jaggi, buyers, sellers, mortgage rates, home prices, homeownership

Tuesday, July 2, 2024   /   by Joyce Dungca

Real Estate Still Holds the Title of Best Long-Term Investment

With all the headlines circulating about home prices and mortgage rates, you may be asking yourself if it still makes sense to buy a home right now, or if it’s better to keep renting. Here’s some information that could help put your mind at ease by showing that investing in a home is still a powerful decision.
According to the experts at Gallup, real estate has been crowned the top long-term investment for a whopping 12 years in a row. It has consistently beat out other investment types like gold, stocks, and bonds. Just take a look at the graph below – it speaks volumes:

But why does real estate continue to reign supreme as a top-notch long-term investment? It’s because, even today, buying a home can be your golden ticket to building wealth over time.
Unlike other investments that can feel a bit like riding a rollercoaster with all the ups and downs and ongoing risk factors, real estate follows a more predic. ...

  team raj jaggi, buyers, sellers, mortgage rates, home prices