News of the Federal Reserve hiking interest rates appears to have caused unnecessary panic among people poised to purchase a first home or a larger one for a growing family.
News of the Federal Reserve hiking interest rates appears to have caused unnecessary panic among people poised to purchase a first home or a larger one for a growing family.
Buying a new home is an exciting time, but excitement can easily turn to stress if there isn’t enough money to pay the monthly mortgage bill. The added expense can take some time to get used to, but there are ways to make the payments easier, especially in those first few months when money is the tightest.
Though the real estate business never stops, most people associate its busy periods of the year with the spring and summer seasons. And while this is true to a large extent, those who think that selling a home in the fall is a bad decision are sorely mistaken.
Home builder confidence in national housing market conditions rose one index point for a reading of 68 in October. Readings over 50 indicate that most builders are confident about market conditions. Rolling three-month averages showed mixed results. The Northeastern region gained three points for an index reading of 57; the Midwestern region lost two index points with a reading of 57 and the Southern region posted a gain of one point with a reading of 70. The Western region held steady at 74.
Last week’s economic reports included readings on home builder confidence, sales of pre-owned homes and housing starts. The Commerce Department also issued a report on building permits issued; weekly reports on mortgage rates and first-time jobless claims were also released.
In some parts of the country, it has already started snowing! But, even if you live in an area with a moderate climate, your lawn and garden are about to take a “winter break.”
Because the tech industry does not necessarily rely on interstate highways, commercial hubs or seaports, computer-oriented businesses are taking advantage of once vibrant manufacturing areas that have fallen on hard times. Property values in these areas seem to be trending behind some of the nation’s hotspots despite having many desirable community living aspects such as parks, walking trails, waterfronts, restaurants, and a vibrant arts scene.
Robert Frost once wrote that “Good fences make good neighbors.” The poet was not referring to people bonding over the task of mending fences. Rather, defined boundaries are an important facet of neighborly relationships.
Recent medical school graduates, saddled by high student loan debt, sometimes have a hard time qualifying for a first mortgage. Now, however, a growing number of lenders will consider future earnings potential of high earners in the medical profession as a way to offset high debt ratios. But specialty mortgages for young physicians aren’t the only unique loans available today.
Last week’s economic reports included releases on inflation, consumer sentiment. Weekly readings on mortgage rates and new jobless claims were also released.
Give us a call or drop by anytime, we endeavour to answer all enquiries within 24 hours on business days.