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Category: Affordability

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Where Will You Go After You Sell?

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, For Buyers, For Sellers, Key Largo Mortgage, Key Largo Mortgage Rates, New Construction.

If you’re planning to sell your house and move, you probably know there’s been a shortage of options available. But here’s the good news: the supply of homes for sale has grown in a lot of markets this year – and that’s not just existing, or previously-owned, homes. It’s true for newly built homes too.  So how do you decide which route to go? Do you buy an existing home or a brand-new one? The choice is yours – you just need to figure out what’s most important to you. Perks of a Newly Built Home Here are some benefits of buying a newly built home right now: Have brand new everything with...

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Mortgage Rates Down a Full Percent from Recent High

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Economy, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Mortgage Rates.

Mortgage rates have been one of the hottest topics in the housing market lately because of their impact on affordability. And if you’re someone who’s looking to make a move, you’ve probably been waiting eagerly for rates to come down for that very reason. Well, if the past few weeks are any indication, you may be getting your wish. Mortgage Rates Trend Down in Recent Weeks There’s big news for mortgage rates. After the latest reports on the economy, inflation, the unemployment rate, and the Federal Reserve’s recent comments, mortgage rates started dropping a bit. And according to Freddie...

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How Affordability and Remote Work Are Changing Where People Live

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Buying Tips, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates.

There’s an interesting trend happening in the housing market. People are increasingly moving to more affordable areas, and remote or hybrid work is helping them do it. Consider Moving to a More Affordable Area Today’s high mortgage rates combined with continually rising home prices mean it’s tough for a lot of people to afford a home right now. That’s why many interested buyers are moving to places where homes are less expensive, and the cost of living is lower. As Orphe Divounguy, Senior Economist at Zillow, explains: “Housing affordability has always mattered . . . and you’re seeing it...

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More Than a House: The Emotional Benefits of Homeownership

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates.

With all the headlines and talk about housing affordability, it can be tempting to get lost in the financial side of buying a home. That’s only natural as you think about the dollars and cents of it all. And while you ultimately need to be able to afford a home you buy, don’t lose sight of why homeownership was so important to you in the first place. That’s because buying a home is so much more than just a financial transaction. As the National Association of Realtors (NAR) says: “The benefits of purchasing and owning your place of residence are both financial and emotional – pride in...

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Equity Can Make Your Move Possible When Affordability Is Tight [INFOGRAPHIC]

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Equity, Infographics, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up.

Some Highlights Did you know the equity you have in your current house can help make your move possible? Once you sell, you can use it for a larger down payment on your next home, so you’re borrowing less. Or, you may even have enough to be an all-cash buyer.  The typical homeowner has $298,000 in equity. If you want to find out how much you have, connect with a local real estate agent for a Professional Equity Assessment Report.

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Is It Getting More Affordable To Buy a Home?

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates.

Over the past year or so, a lot of people have been talking about how tough it is to buy a home. And while there’s no arguing affordability is still tight, there are signs it’s starting to get a bit better and may improve even more throughout the year. Elijah de la Campa, Senior Economist at Redfin, says: “We’re slowly climbing our way out of an affordability hole, but we have a long way to go. Rates have come down from their peak and are expected to fall again by the end of the year, which should make homebuying a little more affordable and incentivize buyers to come off the sidelines.”...

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