I often try to find positive aspects in bad situations. The latest problem facing potential homebuyers is the return to 7% mortgage rates, up from about 6% just a month ago. Although there is no clear negative relationship between mortgage rates and home prices, as one rises and the other falls, you can still make … Read more
With mortgage rates rising again, somewhat unexpectedly, a thought crossed my mind if you are currently home shopping. Two years ago, I brought up the idea of adjusting the maximum purchase price to a lower level when searching for a property. This post was prompted by several home sales that were exceeding demand at the … Read more
For the past several years, we have been entirely focused on rising mortgage rates. The 30-year fixed yield has risen from levels of less than 3% to about 8% in a period of less than two years. Obviously, this has caught everyone’s attention, whether it’s the media or ordinary Americans. But there has often been … Read more
I came across a report from CoreLogic the other day that home equity loan lending rose to its highest level since 2008. Whenever anyone hears the date “2008,” they immediately think of the housing bubble of the early 2000s. After all, this was when the housing market moved completely sideways after the mortgage market collapse. … Read more