If you’re in the market to buy your first home, purchase a bigger home or down-size, the summer market is hot and ready for eager purchasers. With the impact of the coronavirus still at play, you may want to know if buying a house during COVID-19 is a good decision. If that is you, here are two leading indicators to watch.
One of the top questions on most homeowners’ and future homeowners’ minds is: what is the mortgage rate forecast and where are the mortgage rates likely to go in 2020? And while we wish there was a hard and fast answer, it simply can’t be known with certainty. However, we can gather some clues by examining the yield of U.S. Treasury securities, the performance of the U.S. economy and the actions taken by way of the Federal Reserve’s Open Market Committee.
Taking the leap from renting to becoming a first-time homebuyer may seem out of reach. But if you can’t shake the question — how will I know if I’m ready to buy a house? — then you may be getting close. Knowing when to buy a house is a decision that requires much thought and planning. Your answers to these three questions might help you realize you’re more ready than you think.
Should you rent or buy? Use our convenient Rent vs Buy Calculator to compare the costs of buying and renting to see which makes the most sense for you.
When applying for a mortgage, there are specific tasks you should do and actions to avoid to help streamline your loan process. Take a look at this list of “do’s” and “don’ts” to make sure there are no unexpected holdups on the approval of your loan.
There are many important things to consider throughout the process, especially if you’re a first-time homebuyer. Here’s some information that will keep you on track.