Where Are Mortgage Rates Headed? This Winter? Next Year?

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to look at where rates are headed when deciding to buy now or wait until next year. Below is a chart created… Read More

Credit Score Requirements LOWER As Interest Rates CREEP UP!

Some Highlights: The average 30-year rate for all loans closed in August eclipsed 4.3% for the first time since October 2014. The average FICO score for all closed loans in August reached a new yearly low at 724 (the lowest since February 2014!) The average down payment of FHA loans closed was just 4%!

Thinking of Buying a Home? Ask Yourself These 3 Questions!

If you are debating purchasing a home right now, you are surely getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in real estate. Let’s look at whether or not now is actually… Read More

Existing Home Prices Hit Record

Last week, the National Association of Realtors (NAR) released their Existing Home Sales Report. The report announced that the median existing-home price in June was $236,400. That value surpasses the peak median sales price set in July 2006 ($230,400). This revelation created many headlines exclaiming that home prices had hit a “new record”: Wall Street Journal: Existing-Home Prices Hit… Read More

Low Inventory Causes Dip in Sales

The National Association of Realtors (NAR) recently released the results of their Existing Home Sales Report. Despite the fact that properties are selling faster than they have at any other time since July of 2013, existing home sales declined 3.3% from March. NAR’s Chief Economist Lawrence Yun explained the main reason for the slow: “April’s setback… Read More

Homeownership as an Investment: The Role of Price Appreciation

There is a lot to be learned from the results from the latest Home Price Expectation Survey (HPES) showing where residential home prices are headed over the next five years. Today, we want to show you what the results of the report could mean to you. A good portion of every family’s wealth comes from the equity in… Read More

Home Ownership Cheaper Than Renting

In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage throughout the 100 largest metro areas in the United States. The updated numbers actually show that the range is from an average of 16% in Honolulu (HI), all the way to 55% in… Read More

April Housing Update

Homes are selling in DuPage county, and inventory is low.

January ’14 Real Estate Market Update

It’s cold outside, but the market is heating up.

Lack of Inventory a Challenge to the Market

The real estate market is in the midst of a major comeback. Sales are greater than any time since 2007. Consumer confidence is increasing. Economists are now saying housing is the major tailwind to our nation’s overall economic recovery. However, there is one major challenge that could stall the housing market: a lack of inventory…. Read More