One of the first steps in your homebuying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains:
If you’re a homeowner thinking about selling your house, you’re probably looking for the best time to make your move. That means you’re likely balancing a number of factors, like your changing needs, where you’ll go when you sell, and today’s mortgage rates in order to time it just right.
Whether you’re already a homeowner or you’re looking to become one, the recent headlines about home prices may leave you with more questions than answers. News stories are talking about home prices falling, and that’s raising concerns about a repeat of what happened to prices in the crash in 2008.
Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.
It doesn’t matter if you’re someone who closely follows the economy or not, chances are you’ve heard whispers of an upcoming recession. Economic conditions are determined by a broad range of factors, so rather than explaining them each in depth, let’s lean on the experts and what history tells us to see what could lie ahead. As Greg McBride, Chief Financial Analyst at Bankrate, says:
Selling Your House Is a Gift that Keeps Giving | If you’re thinking of selling and making a move this holiday season, remember your house could also be someone else’s dream home. NMLS ID 1834853 #floridahousingmarket #floridarealestate #floridahomebuyers
Florida Mortgage | Rely on an Expert When You Sell Your House
If you are thinking about selling your house, don’t go at it alone. Use a trusted professional to rely on when you’re ready to sell. NMLS ID 1834853 #floridamortgage #floridamortgagerates #floridamortgagecompany
Florida Mortgage | Here’s Why We’re Not Headed for a Housing Crash | NMLS ID 1834853 Today’s housing market is different than it was in 2008 #floridarealestate #housingmarket2022 #floridahousingmarket
There’s no doubt today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences.