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What’s More Important: Lower Home Prices or Mortgage Rates?

When buying a home, there are several factors that affect how much mortgage you can afford. Two of the most important are the property prices and current mortgage interest rates. Is it better to search for the absolute lowest rate or is it more helpful to choose a less-expensive home? Here’s how the two factors are related and how to make the right choice. Mortgage Rate/Home Price Relationship Since higher mortgage rates make homebuying more expensive for buyers, you might think that home prices would tend to fall during high rate climates in order to compensate for those costs. Un...

July 31st, 2019 | Purchasing a Home, Interest Rates, What’s More Important: Lower Home Prices or Mortgage Rates?

Tax Law Makes Projections Even Harder – Home buying in January 2018

The projection for January! It is the first of the year and we have been inundated with projections regarding the economy, interest rates, real estate and more. It is always hard to predict the future and this year is going to be even harder to predict because of a new variable. Lowering of tax rates is likely to stimulate an already strengthening economy. This should be good news for jobs, retailers and more. The question remains how strong will the economy get and what will the effects be on interest rates, oil prices — and ultimately inflation. Predictions in the Home buying pro...

January 1st, 2018 | Taxes, Interest Rates, Real Estate, buying a home, Tax Law Makes Projections Even Harder – Home buying in January 2018

Are we closer or Further away?

This week we will see the release of the November employment numbers. The key question we will be watching is whether we will be moving closer to a rate increase or further away with respect to the Federal Reserve Board’s meeting next week. According to the minutes of the last meeting, the Fed’s members had a healthy debate about the threat of inflation. Inflation “hawks” were worried that the tight labor market carries a risk that rising wages will quickly increase inflationary pressures. On the other hand, the “doves” feel that the absence of large wage...

December 5th, 2017 | Federal Reserve, Interest Rates, Mortgage, Loans, Are we closer or Further away?

Busy December on Tap!

As we approach December, we can see that we are in for a busy month with regard to the economy. With the recovery continuing from the Hurricanes, the Federal Reserve Board’s Open Market Committee will also be meeting with the consensus pointing to another increase in short-term interest rates. Outside of major shocks, the only factor which seems like it has the potential to change the Fed’s mind would be a very weak employment report. This report is due out in early December Meanwhile, all eyes will be on Congress as they continue to hash out details of the tax reform proposals....

December 1st, 2017 | Mortgage, Home, Federal Reserve, Interest Rates, Busy December on Tap!

Third Quarter for the end of 2017 to affect the average person

It is very interesting to see what are people doing 3 months before the end of the year 2017.  The Federal Reserve board is meeting again and they are considering changes to the interest rate, so what?  How is this going to affect the average person?  Everyone is more interested in what is in for them, and not affected by hundred or thousands of points of data to consider.

August 27th, 2017 | 3rd Quarter, Mortgage, Federal Reserve, Interest Rates, Third Quarter for the end of 2017 to affect the average person