Interest Rates

16 May 2023

The Pros and Cons: Buying a Home with Cash vs. Low Interest Rate Mortgages

MortgageCash or Finance, Interest Rates, Mortgage

When deciding whether to buy a home with cash or to obtain a low-interest rate mortgage, there are several factors to consider. A cash offer can be very competitive in a real estate market, as it can give the buyer a significant advantage over buyers who need to obtain financing through a mortgage. Here are additional advantages and disadvantages of both. Advantages of buying a home with cash: You own the property outright, which means no mortgage payments are necessary. You may be able to negotiate a lower purchase price if you're able to pay in cash. You avoid interest…

01 May 2023

By Lonny Levine

What’s Ahead For Mortgage Rates This Week – May 1, 2023

Financial ReportsFinancial Report, Interest Rates, Jobless Claims

Hi there, it's Lonny Levine here with your Monday mortgage market update. Last week's economic reporting gave us some interesting insights into the current state of the housing market. The housing market showed signs of slower growth in February, as indicated by the S&P Case-Shiller Home Price Indices. While home prices across the nation continued to rise, the month-to-month growth rate of 0.4% was lower than January's 2.5% increase. Similarly, the 20-city home price index rose by only 0.1% compared to the previous month, marking the first month of growth after eight consecutive months of decline. Meanwhile, the Federal Housing…

22 Mar 2023

By Lonny Levine

0 Comments

Navigating A Market With Higher Interest Rate

MortgageInterest Rates, Mortgage, New Home

Even though interest rates have gone up significantly during the past few months, there are still opportunities for you to find a home at a great price. The high interest rate can be discouraging for some people, but as long as you know how to navigate the market, you can still put yourself in a position to be successful. Put More Money Down The easiest way to combat a high interest rate is to reduce the amount of money you borrow. That means that you might need to put more money down. Of course, this means that you might need…

01 Mar 2023

By Lonny Levine

0 Comments

The Top Benefits Of A Single Close Construction Loan

MortgageConstruction Loan, Interest Rates, Mortgage

If you are thinking about building your own home, you might be wondering how construction loans work. There are plenty of options available, but one of the most popular choices is a single-close construction loan. This type of loan allows you to close on not only the construction expenses but also your financing costs at the same time. Essentially, a single-close construction loan will convert into your mortgage after the construction on your home is finished. What are some of the top benefits of this type of loan? Save Time One of the first benefits of a single-close construction loan…