Are you thinking about buying a home but unsure if now is the right time, or if waiting might be better? With home prices continually shifting, it's normal to question if they might drop soon, especially with changes in interest rates on the horizon. It's also crucial to consider the current housing inventory — is there an abundance of homes available, or are options limited?
Another important aspect to consider is how foreclosures impact the housing market and who is actually able to purchase homes in today's economy. Additionally, refinancing can play a significant role in your home buying process. It might enable you to buy a home sooner than you think by making the financing more manageable. A final piece of advice: don't put off getting pre-approved for a mortgage. The sooner you start working on improving your credit score, the better your chances of securing a lower interest rate and reducing your monthly payments.
Check out our resources below for important links!
In this episode, you’ll learn:
- Gain insight into the relationship between home values and interest rates
- Foreclosure trends and impact
- Home buying motivations amid high interest rates
- Future interest rate predictions and effects on buying
- The refinancing process and its benefits
RESOURCES:
ATTOM Article: Foreclosure Stats https://www.attomdata.com/news/market-trends/foreclosures/u-s-foreclosure-activity-continues-to-see-an-annual-increase/
Divorces All Time High: Revealing Divorce Statistics In 2024
Homeowners that are <5% Rate https://thehill.com/business/4404959-nearly-nine-in-10-us-homeowners-have-mortgage-rate-below-6-percent-report/#:~:text=More%20than%20three%2Dquarters%20of,3%20percent%2C%20according%20to%20Redfin
👉TikTok: @loanwithjen 👉Instagram: @loanwithjen 👉Facebook: https://www.facebook.com/loanwithjen
Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497
💻 Documents Needed to Get Pre-Approved Texas: http://checklist.loanwithjen.com/ 💻 Loan With Jen | Do Business With Us!: http://apply.loanwithjen.com/ 💻 Visit My Website - Mortgage Lender Houston | Loan With Jen Education - https://www.loanwithjen.com/
📌More Helpful Content: ▶️The Myths and Truths About Credit Inquiries: https://youtu.be/d_RQJnTsVPE ▶️Why You Should Use A Local Lender: https://www.youtube.com/watch?v=shkijZmEonA ▶️How to Buy A House With Low Income: https://www.youtube.com/watch?v=OcyjWe0snWU ▶️Using Rental Income To Qualify For A Mortgage: https://www.youtube.com/watch?v=kv0eXzl1YUo
To contact us visit www.loanwithjen.com
Equal Housing Opportunity Lender NMLS# 514497
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Resources mentioned in the episode:
https://www.loanwithjeneducation.com/
https://www.instagram.com/loanwithjen/
https://www.facebook.com/loanwithjen
https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g
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