What Affects Mortgage Rates?
Your mortgage rate depends on your own financial portfolio and the home you plan to buy. But that’s not all. Mortgage rates also reflect movements in the U.S. housing market and the global economy — which is why they’re in constant flux. Economy – The global financial picture drives all interest rates, including mortgage rates Lender pipeline – The amount of business a lender is currently processing can impact their rates Property location – State laws can drive up lender costs or keep them...
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Housing Affordability
The Ultimate Truth About Housing Affordability There have been many headlines decrying an “affordability crisis” in the residential real estate market. While it is true that buying a home is less affordable than it had been over the last ten years, we need to understand why and what that means. On a monthly basis, the National Association of Realtors (NAR), produces a Housing Affordability Index. According to NAR, the index… “…measures whether or not a typical family earns enough income to...
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