How a Change in Mortgage Rate Impacts Your Homebuying Budget

  Mortgage rates are on the rise this year, but they’re still incredibly low compared to the historic average. However, anytime there’s a change in the mortgage rate, it affects what you can afford to borrow when you’re buying a home. As Sam Khater, Chief Economist at Freddie Mac, shares: “Since January, mortgage rates have increased half a percentage point from historic lows…

What Credit Score Do You Need for a Mortgage?

  According to data from the most recent Origination Insight Report by Ellie Mae, the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. While stricter lending standards could be a challenge for some, many buyers may…

What You Should Know About Home Appraisals

Must-Have Information For Buyers, Sellers And Refinancers Whether you’re buying a home using a mortgage, refinancing your existing mortgage, or selling your home to anyone other than an all-cash buyer, a home appraisal is a key component of the transaction. If you’re a buyer, owner, or seller, you’ll want to understand how the appraisal process…

U.S. home prices surged by 10% in January

Austin leads Texas in home cost hikes with Dallas prices up 7.8%. Nationwide home prices rose in January by the largest annual percentage in eight years. But Dallas-area prices aren’t going up as fast as the rest of the country. Dallas home prices rose 7.8% from January 2020 levels in CoreLogic’s latest home price index….

Where Have All the Houses Gone?

  In today’s housing market, it seems harder than ever to find a home to buy. Before the health crisis hit us a year ago, there was already a shortage of homes for sale. When many homeowners delayed their plans to sell at the same time that more buyers aimed to take advantage of record-low…

Will Low Mortgage Rates Continue through 2021?

With mortgage interest rates hitting record lows so many times recently, some are wondering if we’ll see low rates continue throughout 2021, or if they’ll start to rise. Recently, Freddie Mac released their quarterly forecast, noting: “The average 30-year fixed-rate mortgage hit a record low over a dozen times in 2020 and the low interest rate environment is projected to continue…

Why Owning a Home Is a Powerful Financial Decision

In today’s housing market, there are clear financial benefits to owning a home: increasing equity, the chance to build your net worth, and appreciating home values, just to name a few. If you’re a renter, it’s never too early to think about how homeownership can propel you toward a stronger future. Here’s a dive into three often-overlooked financial benefits…

Contemplating Moving

Are thinking about selling your home? This might be something you’ve been thinking about maybe since 2020 hit or some of you are realizing that your home no longer meets your needs. You planned to move in 2020 but delayed? Your home no longer meets your needs? Need more space? Empty nester now? Family growing?…

North Texas home buys set record in 2020

Area real estate agents sold more than 119,000 homes last year. Soaring sales in the final months of the year led to a record number of North Texas homes purchased in 2020. Real estate agents sold 119,121 single-family homes last year — a 10% rise from the previous record set in 2019. In December alone,…