Buying a Home

First-Time Buyers At All-Time Low

The percentage of sales for first-time buyers is at the lowest level they have ever seen, according to the National Association of Realtors. High home prices combined with high mortgage rates are making it very difficult for first-time buyers, so it is not surprising they are being held back from making a purchase.

Most Sellers Do Not Realize Their Low-Interest Rate Loan Can Be Assumed.

Approximately 23% of homes in the MLS have an assumable mortgage, but less than 1% of the homes for sale are marked that way. This means most sellers do not realize their loan is assumable. VA, FHA, and USDA loans are assumable by anyone, not just the military. 22% of all sales this year were …

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8.5% Mortgage Rate Possibly Coming According to the National Association of Realtors

Mortgage rates could climb another 1.5 percentage points, according to a leading economist. National Association of Realtors chief economist Lawrence Yun predicted that interest rates could be on their way to 8.5 percent if they pass a threshold of 7 percent, according to Bloomberg. Yun based his forecast on key levels of resistance borrowing costs will …

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