Homeownership Builds Your Wealth over Time [INFOGRAPHIC]

Written by Cedar Key Mortgage Syndicated User on January 27, 2023. Posted in Cedar Key Mortgage, First Time Home Buyers, For Buyers, Infographics, Mortgage Cedar Key, Move-Up Buyers, Pricing.

Why It Makes Sense To Move Before Spring

Written by Cedar Key Mortgage Syndicated User on January 26, 2023. Posted in Cedar Key Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Cedar Key, Move-Up Buyers.

Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in the competition you could face with other buyers at that time of year. If you’re ready to buy a home, here’s why it makes sense to move before the spring market picks up.

Why You Shouldn’t Fear Today’s Foreclosure Headlines

Written by Cedar Key Mortgage Syndicated User on January 26, 2023. Posted in Cedar Key Mortgage, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Mortgage Cedar Key.

If you’ve seen recent headlines about foreclosures surging in the housing market, you’re certainly not alone. There’s no doubt, the stories in the media can be pretty confusing right now. They may even make you think twice about buying a home for fear that prices could crash. The reality is, the data shows a foreclosure crisis is not where the market is headed, and understanding what that really means is mission critical if you want to know the truth about what’s happening today. Here’s a deeper look.According to the Year-End 2022 U.S. Foreclosure Market Report from ATTOM, foreclosure filings...

The 3 Factors That Affect Home Affordability

Written by Cedar Key Mortgage Syndicated User on January 24, 2023. Posted in Cedar Key Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Cedar Key, Move-Up Buyers, Pricing.

If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors that determine housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at CoreLogic, shares:

Pre-Approval in 2023: What You Need To Know

Written by Cedar Key Mortgage Syndicated User on January 19, 2023. Posted in Cedar Key Mortgage, First Time Home Buyers, For Buyers, Mortgage Cedar Key, Move-Up Buyers.

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:

Have Home Values Hit Bottom?

Written by Cedar Key Mortgage Syndicated User on January 18, 2023. Posted in Cedar Key Mortgage, For Buyers, For Sellers, Mortgage Cedar Key, Pricing.

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.

Think Twice Before Waiting for 3% Mortgage Rates

Written by Cedar Key Mortgage Syndicated User on January 17, 2023. Posted in Buying Myths, Cedar Key Mortgage, First Time Home Buyers, For Buyers, Interest Rates, Mortgage Cedar Key, Move-Up Buyers.

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.

What Past Recessions Tell Us About the Housing Market

Written by Cedar Key Mortgage Syndicated User on January 16, 2023. Posted in Cedar Key Mortgage, For Buyers, For Sellers, Housing Market Updates, Mortgage Cedar Key.

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:

Key Terms To Know When Buying a Home [INFOGRAPHIC]

Written by Cedar Key Mortgage Syndicated User on January 13, 2023. Posted in Buying Myths, Cedar Key Mortgage, Down Payments, First Time Home Buyers, For Buyers, Infographics, Mortgage Cedar Key, Move-Up Buyers.

Wondering How Much You Need To Save for a Down Payment?

Written by Cedar Key Mortgage Syndicated User on January 3, 2023. Posted in Buying Myths, Cedar Key Mortgage, Down Payments, First Time Home Buyers, For Buyers, Mortgage Cedar Key.

If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. One cost that’s likely top of mind is your down payment. But don’t let a common misconception about how much you need to save make the process harder than it could be. Understand 20% Isn’t Always the Typical Down Payment Freddie Mac explains: “. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the largest perceived barriers to achieving homeownership.” Unless specified by your loan type or...

Category: For Buyers