The U.S. housing market has been grappling with a significant inventory shortage, with an estimated deficit of 3.7 million homes. This scarcity has intensified competition among buyers, leading to bidding wars and elevated home prices. In this context, a reduction in mortgage interest rates can have profound effects on the market dynamics, particularly concerning home…
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If you’ve been sitting on the sidelines, waiting for the “perfect” time to buy a house because of high interest rates, now is the moment to pay close attention. Over the past few years, mortgage rates surged to 7%, creating a challenging environment for homebuyers. However, with the recent dip into the 6% range for…
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When it comes to understanding mortgage rates, relying solely on media sources can be misleading. The best barometer for where mortgage rates truly stand is the actual source: FreddieMac.com. This is the entity that buys the loans made and sold by mortgage aggregators. When you see headlines claiming that interest rates are lower or have…
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Buying a home is a significant financial decision that requires careful planning and consideration of various financing options. Two common methods prospective homeowners might consider are borrowing from a 401(k) and utilizing down payment assistance programs. Each approach has its benefits and drawbacks, and understanding these can help you make an informed decision tailored to…
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