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What’s Ahead For Mortgage Rates This Week – January 22nd, 2019

Last week’s economic reports included National Association of Home Builders’ Housing Market Index, the Federal Reserve’s Beige Book report and the University of Michigan’s Consumer Sentiment Index. Weekly readings on mortgage rates and first-time jobless claims were also released. Commerce Department readings on housing starts and building permits issued were delayed due to the federal government shutdown, which continued and became the longest government shutdown on record. NAHB: Builder Confidence Rises Amid Headwinds Home builder confidence rose two points in January according to the National Association of Home Builders. Builder concerns over rising construction costs and tariffs on building materials were balanced by falling mortgage rates. Builders felt pressure to create more affordable homes and to offer incentives to buyers that could create more sales....

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4 Signs You’re Going To Need A Bigger House

There comes a time in every young homeowner’s life when they need a bigger house. When you buy a starter home, it’s unlikely that will be your forever home. But how do you know when it’s time to spend the time and effort to upgrade to a larger home? Here are four signs you’re gonna need a bigger house! 1. You Have To Move Stuff To Get To Other Stuff In a house where there is enough room for everything, you can move freely and access all your things without having to rearrange furniture. If you find yourself constantly pushing other things aside in order to get to what you want, there isn’t enough space in your home. 2. You’re Always Misplacing Things The key...

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NAHB: Home Builder Confidence Grows After Lowest Level in 3 Years

After two months of declining builder confidence, the National Association of Home Builders Housing Market Index gained two points in January with a reading of 58. Component readings of the HMI were also higher with builder confidence in current market conditions rose two points to an index reading of 63. Builder confidence in housing market conditions over the next six months rose three points to 64. The index for buyer traffic in new housing developments rose one point to 44. While index readings above 50 indicate positive market conditions, the index reading for buyer traffic is typically lower than 50. Lower Mortgage Rates Compel Home Buyers to Act Falling mortgage rates contributed to the uptick in home builder confidence, but affordability continued to impact first-time...

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Strategies For Buying And Selling A Home At The Same Time

If you’re already a homeowner and you’re getting ready to buy a new home, you know it’s tricky to buy and sell a home at the same time. There are lots of questions about how to handle this scenario. What if your old home doesn’t sell quickly? Will you have to make two mortgage payments? What if you sell and the new owners want to move in before you close on your new home? Depending on your situation, here are some strategies available to you. Get A Bridge Loan If you find yourself facing more than one mortgage payment – one on your old house and one on your new house – consider taking out a bridge loan to pay the monthly mortgage on the...

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