In 2014, 11 million renters were spending at least half of their income on housing, according to Harvard’s Joint Center for Housing Studies. Another 21.3 million (over 50 percent of renters) were spending 30 percent or more of their income on rent payments. So in an era where rent costs are going up, up, up, how do you decide whether buying a home or continuing to pay the landlord’s mortgage is the right financial choice for you? Here are several things you should factor in when considering the buying vs. renting scenario.
This week’s biggest economic news stories centered on dropping mortgage rates, housing market confidence and the consumer price index.
This week’s biggest economic news stories centered on mortgage rates and job openings and hiring. Mortgage rates experienced their first decline last week after a 9-week climb and fell yet again this week.
Buying a home can come with an overwhelming amount of choices. What school district do you want to purchase in? Who should you choose for a real estate agent? How much can you afford to spend on your home purchase? Just like choosing a home style, there are several loan types and programs made to benefit a wide range of homebuyers.
Tired of paying your landlord's mortgage? Keeping your eye on mortgage rates? Want to cash in on the tax benefits of homeownership? There are a million reasons why buying a home is a good idea, so we’ve compiled some of the biggest reasons why you should make your home purchase in 2017.
This week's economic review centers on job growth, which ended the year softer than expected. Mortgage rates, which had been on a 9-week climb, experienced the first drop (12 basis points) since November.
This week in economic news mortgage rates continued their climb for the ninth straight week, according to HousingWire, consumer confidence continued strengthening and pending home sales felt the squeeze of rising mortgage rates.
Mortgage rates hit a two and a half year high this week after the Fed announced their expected decision to raise the federal funds rate. Existing home sales and new home sales made surprising strides in November as dwindling supply put pressure on home prices.
2016 was a hot year in the real estate market with low inventory, high demand and historically-low mortgage rates throughout the majority of the year. With mortgage rates on the rise, experts are predicting what will happen with affordability, home prices, inventory and sales speed in the new year.