Tag: home sales

The Housing Market is on Fire with Half of homes Selling in a Month!

housing-market-on-fire

Home Sales are Fast and Furious

in the calendar month of June, homes sales totaled more than 5 million, According to the National Association of REALTORS®  on a seasonally-adjusted, annualized basis and shows no signs of slowing.

More than half of homes that were listed through the MLS system were sold within 30 days or roughly one month.  The key is pricing your home right and preparing it to sell. According to Realtors that were interviewed in Michigan, if a house is priced right and listed, it will sell quickly.

Existing Home Sales Approach Recent Record Highs

For the aforementioned month of June, 5.08 million homes were sold which is an increase of 15% from one year ago.  This sharp increase in recent home sales has pushed the home sales numbers to near record highs. The panic to buy not before rates rise and motivation to jump on houses before they are sold has set the real estate market ablaze. The key to buying in this environment is to be prepared!

Do not wait for the accepted offer to start looking for a mortgage. Start your home buying process by speaking with a licensed loan officer and reviewing your goals. Select what mortgage type will be the best for your situation and get a home loan pre approval.

Get a Mortgage Pre-Approval Now and Act Quick

For today’s home buyers, it’s important to be purchase-ready. Homes are selling quickly and home values on are the rise. Furthermore, since late-Spring, each passing month has brought higher mortgage rates which has raised the cost of homeownership. With your pre-approval in hand you can confidently move quickly on a home offer and buy the home of your dreams.

Today’s home buyers should take a look at all available mortgage options, and secure themselves a pre-approval letter. Lenders provide this service for free, and with no obligation. You can get started online anytime.

Apply for a home purchase pre-approval today!

Request Information Now!

THE FISCAL CLIFF AND MORTGAGE RATES

An mage depecting falling off the fiscal cliff.EXPERTS CONCERNED ON WHAT FISCAL CLIFF MEANS FOR MORTGAGR RATES

We can’t get through the end of the year without more drama coming from Washington and there more financial market drama.  The talk of the Fiscal Cliff has put shock waves in the markets and caused much uncertainty.  Whenever there is financial uncertainty rates start to spike almost uncontrollable up or down.  The low rates that we have all enjoyed have really help spearhead our countries way back from the Great Recession.

Our housing market is one of the pillars to our economy.  Housing is a huge industry employing many people and the stronger it is the more people are working.  Some are afraid that there may be job layoffs if the mortgage market slows down.  House values may also take a plunge if higher rates force potential homeowners to stop buying.  This affects our countries overall wealth because as we all know one of the best way to build wealth is to buy a house.  If our home prices go down as well that could really hurt the consumers overall outlook toward the economy which is dangerous.  There are already signs all this Fiscal Cliff talk may be slowing the housing market.

All experst seem to agree that the Fiscal Cliff will have some type of impact on rates.  What that impact will be is still be studied.  Keep vigilant if you are in the middle of a home loan.  Don’t allow your interest rate to go up and not be propared.

You may want to think today about Locking in your rate for the future!

Call the professional at Riverbank Finance today to go over your loan details.  We would love to help you figure out your best options and go over your personal rate today 800-555-2098!

Request Information Now!