by Brent Knapp | First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers
After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to...
by Brent Knapp | For Buyers, For Sellers, Housing Market Updates, Interest Rates
The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply:“Two dynamics are keeping existing-home inventory historically low – rate-locked...
by Brent Knapp | For Sellers, Interest Rates, Selling Myths
Many of today’s homeowners bought or refinanced their homes during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mortgage rate they have...
by Brent Knapp | First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, 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,...
by Brent Knapp | Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, 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...
by Brent Knapp | First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers
If buying or selling a home is part of your dreams for 2023, it’s essential for you to understand today’s housing market, define your goals, and work with industry experts to bring your homeownership vision for the new year into focus. In the last year, high inflation...
