Case-Shiller’s National Home Price Index showed 3.20 percent national home price growth in September, which was 0.10 percent higher than August’s reading of 3.10 percent. The 20-City Home Price Index showed the continued impact of exorbitant home prices on both coasts as home price growth slowed in high-cost areas and smaller markets experienced upward pressure on home prices as home buyers were seeking affordable homes. Phoenix, Arizona led the 20-City Home Price Index with 6.00 … [Read more...]
How Are Mortgage Rates Determined?
When someone is interested in buying a home, there are a number of factors that people need to consider. Some of these include the budget, the size of the home, and the mortgage interest rates. The mortgage rate is going to play a tremendous role in whether or not someone is going to be able to afford their dream home. For this reason, it is critical for everyone to know how a mortgage rate is determined. There are a number of factors in someone's financial history that are going to impact … [Read more...]
What’s Ahead For Mortgage Rates This Week – December 2nd, 2019
Last week’s economic news included readings from Case-Shiller Home Price Indices, readings on new and pending home sales and weekly readings on mortgage rates and new jobless claims. The holiday break on Thursday and Friday curtailed some economic reports. Case-Shiller Reports Uptick in September Home Prices Home prices rose 0.10 percent to a year-over-year growth rate of 3.20 percent in September. Rates of home price growth showed a new geographic trend with smaller cities showing higher … [Read more...]
How Much Of A Down Payment Should I Make On My Home?
There are a lot of steps that people need to take when buying a home. One of the most common issues that people discuss is the down payment. Most banks will require a down payment so that they aren't the only ones taking on the risk of buying a home. The common question people have is how much of a down payment they should apply. The Rule Of Thumb Most people have heard about placing 20 percent down on a house as a solid rule of thumb. This number has been passed down from prior generations who … [Read more...]
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