Refinancing a home can be a smart financial move, especially when interest rates are favorable. With summer approaching, many homeowners are considering refinancing to take advantage of potentially lower rates and improve their financial situation.
Here are six essential things that homeowners need to know before refinancing their home this summer. more “What You Need to Know Before Refinancing Your Home This Summer (Part 1)”
Now that winter is over and done with and the flowers are starting to bloom, the real estate market will very quickly spring to life. Spring is traditionally one of the busiest times for buying and selling homes, thanks largely in part to longer daylight hours and warmer weather motivating both sellers and buyers. more “10 Tips for Preparing to Sell Your Home (and Buy a New One) in Spring”
Whether you’re talking real estate or finance, the decision to refinance your mortgage is one that should never be taken lightly. With interest rates and economic conditions constantly in flux, what might have been a wise choice a few years ago may not hold the same benefits today. more “Should You Refinance Your Mortgage in 2024?”
With interest rates having stayed mostly above 7% for much of the last two years, the mortgage refinance market hasn’t seen much activity simply because the majority of American homeowners already had mortgages with lower interest rates. But in 2024, signs are pointing to a more balanced housing market and lower interest rates are expected to play a role. more “What Homeowners Can Expect From the Mortgage Refinance Market in 2024”
Since the pandemic, the housing market has seen its fair share of ups and downs but in 2023, things finally started showing signs of stabilization. While the market remains predominantly more favorable to sellers due to a continued shortage of houses, many experts are predicting that over the course of 2024, the market will become more balanced and in most parts of the country, this will certainly benefit buyers. more “First Time Home Buyers Guide: Getting the Process Right in 2024”
One of the best things about owning a home is that as you pay down your mortgage, your home builds equity that you can access should you ever need to (as long as you meet the loan requirements). You can access your equity through one of two ways, either through a home equity line of credit or a cash-out refinance. more “Using a Cash-Out Refinance Wisely in the Winter”
Although spring and summer are considered the hottest home buying seasons, there’s something to be said about waiting until winter to get into the hunt. After all, in winter, those families who bought over the summer will be already settled into their new homes and many of those who didn’t buy will put their home buying dreams on hold until the spring thaw.
This means in winter, there’s far less competition and that can sometimes translate into sellers being more willing to negotiate. more “6 Tips for First Time Homebuyers Getting a Mortgage in Winter 2023-24”
As we close in on the start of the fourth quarter of 2023, it would be an understatement to say that the housing market has been a bit of a disappointment once again this year. Not helping things is the fact that the Fed recently raised interest rates to over 7%, putting it a far cry away from the hopeful 5% that most industry analysts were predicting at this time last year.
The recent rate hike not only affects the hopes and dreams of new buyers, but it also puts a lot of added strain on those who haven’t yet made the decision to either sell their homes or refinance their mortgages. With such uncertainty looming, what’s the best bet for 2023 – should you sell or refinance? more “What’s the Best Bet for 2023: Selling My Home or Refinancing My Mortgage?”
Despite current interest rates not being as low as everyone might like, refinancing is still on the table for a good number of homeowners, but especially for those who are thinking about doing a cash-out refinance for home improvement purposes.
Refinancing to pay for certain home improvements or renovations can make sense even when interest rates are slightly higher than what you wish because the completed projects can increase your home’s market value, which will in turn potentially increase your equity to the point that you can remove private mortgage insurance from your monthly payment. This will help offset the increase in your payment amount caused by the higher interest rate. more “Five Common Mistakes to Avoid When Doing a Cash-Out Refinance on Your Home”
Buying a first home is one of life’s most exciting events. But it doesn’t come without its fair share of worry. After all, we want to ensure that the home we’re buying is not only a good fit for our families and lifestyle, but also our budget. The problem is, far too many first-time buyers get sucked into the excitement of shopping for homes and end up buying more home than they realistically need (and can afford). more “How Much Should You Spend on Buying Your First Home, and Why?”
