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Beyond the dollars and cents, inheriting a home frequently brings up a host of emotions during a time when you’re likely grieving a loved one. It’s worth taking a breather and processing how selling or keeping the home will make you feel.

Inheriting a house with a mortgage can be a complex and emotional experience. It’s essential to understand the inheritance process to handle the situation effectively. 

When it comes to financing a home, most people’s minds jump straight to banks or mortgage lenders. But there’s another option that sits a little closer to home—literally. Enter the world of family-financed mortgages, where moms, dads, siblings, or relatives become lenders. It’s not just about cutting out the middleman; it’s about giving your family […]

Rates Hit New Yearly Highs in April Homebuyers had more roadblocks to purchasing a home this month: ever-increasing interest rates. Where market experts had expected a gradual tapering, April bucked the prediction and headed the other way. As the month closes, experts now are wondering if their predictions of 5.5-6% by year’s end is on […]

Did you know around a quarter of the US population will be over 60 by 2060? Around 80% of older adults own their home. That helps reduce their living expenses while on a fixed income and acts as a source of equity.  But not everyone has enough saved for their retirement, leaving them looking for […]

Unfortunately for the year’s early home buyers, mortgage rates aren’t any more favorable than in January. In many cases, rates are up. How did mortgage rates fare in the second month of 2024? Rates hit 6.9% US Federal Reserve reported an average rate of 6.63% on 30-year fixed-rate products to start the month. The hope […]

In some good news for prospective home buyers, interest rates on home loans moderated some in January 2024. Rates dipped below 7% in December and stayed stable throughout the month. Whether or not that will be sustained into February depends on factors like the Federal Reserve’s end-of-the-month meeting, the updated inflation report, and the jobs […]

Mortgage rates have been higher for quite some time now, and experts say they are here to stay. The predictions for 2024 anticipate interest rates persisting around 6-7%. For those still waiting to buy a new home or refinance your mortgage, dealing with those increased interest rates is a reality. However, this doesn’t mean you […]

The Federal Reserve opted to maintain its current base interest rate of 5.5 points in its final meeting for 2023. That signals current mortgage rates will likely hold steady around their 7% averages as the market transitions into the new year. But, some good news may be on the horizon for home buyers based on […]

It’s mixed news for those tracking the Federal Reserve and the 10-year Treasury Yield. At its latest committee meeting held November 1, the Federal Reserve decided to hold steady to its 5.25-5.5% basis rate for federal funds. It was a unanimous decision with implications for mortgage rates. The good and bad on the basis rate […]

Are you looking to buy a new home or refinance your current mortgage? If so, pay attention to your debt-to-income ratio (DTI). Lenders use this factor to determine your creditworthiness and ability to make timely mortgage payments. The end result? The lower the DTI, the better the loan terms. Anything you can do to improve […]

The recent surge in mortgage rates has sparked concerns about affordability among homeowners and potential buyers alike. Now, experts believe seeing 8% mortgage rates isn’t a matter of “if” but “when,” with that possibly being very real in the next few weeks. The 10-year Treasury Yield, which serves as a benchmark for long-term interest rates, […]

In more challenges for home buyers and real estate investors, mortgage rates keep floating above 7%. Mortgage lenders were offering 30-year fixed rates averaging over 7.5% as of September 21, the highest in over 22 years. Although there are some adjustments for discount points, many loans are being quoted with points, resulting in slightly lower […]

In more distressing news for homeowners waiting for affordability to improve, mortgage rates achieved a new record this week. With the 30-year fixed rate reaching 7.09% the week of August 14, rates are now at their highest in 22 years. Freddie Mac released its update on Thursday, noting that the last time the rate was […]

Good Credit Will Cost You More? What Recent Mortgage Changes Mean For You For most people, the concept of a good credit score is simple: the higher yours is, the more likely you can secure a loan on good terms. But recent events are challenging what was once a fact of life. As GoBankingRates.com notes, […]

These Lenders Made the Most Mortgages in 2022 The top lenders in America in 2022 featured some familiar names in the world of mortgages. One notable change for 2022 was more traditional depositories (bank organizations that can accept deposits) cracked into the top 10. This reflects a greater confidence in working with banks for mortgage […]

Mortgage Demand Is Down: What Home Buyers Need to Know It wasn’t long ago that it was much easier to sell a house. The proof is in the demand for mortgages, which recently fell to a new 28-year-low. Within one week in early March 2023, new mortgage applications declined by 6%, shriveling to levels we […]

Wouldn’t it be nice to know where mortgage rates are headed before the market does? No one knows for sure, but attentive home buyers can learn to read the trade winds. For mortgage rates, a few important dates reveal clues on where rates may be heading in 2024. What you need to watch in 2024 […]

Rising interest rates in 2022 have spooked many home buyers. It wasn’t easy seeing inflation run rampant throughout the year, driving up the cost of everything from gasoline to the interest rates on new mortgages. But trends at the end of 2022 could hint at what real estate agents and home buyers should expect from […]

After the tragic Surfside condo collapse, every part of the condominium industry is reviewing, assessing, and updating. These reviews cover construction practices, permitting, and HOA management. Everything is geared around ensuring condos are safe, well managed, and desirable places to live for everyone.  The collapse caused lenders and insurers to ask if high-rise condos are […]

Get ready to pay more for your second home. The Federal Housing Finance Agency (FHFA) announced targeted increases to Fannie Mae and Freddie Mac’s upfront fees for second home loans in January. What exactly do these changes mean for the purchase of your Carolina second residence, investment property, or vacation home?  What the FHFA changed […]

If your lender has mentioned conforming versus non-conforming loans, you may be confused. Don’t be. Conforming loans are the primary type of financing homeowners receive. A conforming loan simply means your terms meet defined criteria that enable the originator to insure and sell the mortgage. Learn all you need to know about conforming loans and […]

Conforming Loan Limit Increase If you’re planning on buying a home, you’ll probably be relieved to find out that the conforming loan limit will be increasing in step with rising home values! This limit represents the amount that Fannie Mae and Freddie Mac can guarantee. Thus, the increase in the limit is positive for buyers […]