Suzanne's Blog
Heading into the New Year, Mortgage Rates Remain on a Downward Trend
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.61 percent. “The rapid descent of mortgage rates over the last two months stabilized a bit this week, but rates continue to trend down,” said Sam Khater, Freddie Mac’s Chief Economist. “Heading into the new year, […]
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Home sales are expected to soar in these California cities next year
With mortgage rates finally easing, many California cities are expected to see home sales rebound significantly next year, according to a new forecast from Realtor.com. Five metro areas are predicted to see double-digit, year-over-year sales growth in 2024. They are Oxnard-Thousand Oaks (18%), Riverside-San Bernardino-Ontario (13.8%), Bakersfield (13.4%), San Diego-Chula Vista-Carlsbad (11%) and Sacramento (10.3%). Home sales in the Los Angeles-Long […]
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Private Mortgage Insurance: Is It as Bad as You Think?
Private mortgage insurance, better known as PMI, provides a type of financial safety net to your lender if you should stop paying your mortgage on time. How much you pay will vary, but PMI typically costs 0.1% to 2% of your loan amount. That can add up. If you are taking out a mortgage of […]
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Stretch It Out: Is a 40-Year Mortgage Right for You?
Like all fixed-rate mortgages, your interest rate will never change with a 40-year, fixed-rate mortgage. Your rate will remain the same until you pay off your loan, refinance your 40-year mortgage into a new loan or sell your home. The difference between a 40-year mortgage and other fixed-rate loans comes in the term. The 40-year […]
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The Latest 2024 Housing Market Forecast
The new year is right around the corner, and you might be wondering if 2024 will be the right time to buy or sell a home. If you want to make the most informed decision possible, it’s important to know what the experts have to say about what’s ahead for the housing market. Spoiler alert: the projections may […]
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Congrats, Your House Made You Rich. Now Sell It.
Lots of baby boomers are going to sell their homes in the years ahead. The trick is to beat the crowd. Forget the old slogan about there never being a better time to buy a home. For baby boomers, there might never be a better time to sell. The kids are gone, the stairs aren’t […]
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How does owning a home affect your taxes?
Owning a home can be a smart financial investment and a great way to build your equity. But another substantial benefit can involve a bigger break on Tax Day. Whether you own now or you’re thinking about buying, tax season is the best time to become familiar with the financial benefits of owning a home. […]
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6 money-saving tips homebuyers should know
Buying a house is always expensive, but recently it has been even tougher for many Americans to afford to buy a home. As of August 2023, the median home price sits at $407,100, according to data from the National Association of Realtors. That’s an increase of nearly 4% year-over-year To make matters worse, mortgage rates are high right […]
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Is a Home Equity Line of Credit Right for You?
You know that you can borrow against the equity that you’ve built in your home, using the funds from home equity loans to pay for whatever you want, whether you’re ready to remodel your aging kitchen or pay off high-interest-rate credit card debt. What you don’t know, though, is whether it makes more sense to […]
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