Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped rapidly from the record lows in 2021, peaking at just over 7% last October. As a result, hopeful buyers experienced a hit to their purchasing power, and some decided to pause their plans. Today, the rate of […]

If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. One cost that’s likely top of mind is your down payment. But don’t let a common misconception about how much you need to save make the process harder than it could be. Understand 20% Isn’t […]

While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan. Don’t Deposit Large Sums of Cash Lenders need to source your money, […]

Mortgage rates have been a hot topic in the housing market over the past 12 months. Compared to the beginning of 2022, rates have risen dramatically. Now they’re dropping, and that has to do with everything happening in the economy. Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), explains it […]

This past year, rising mortgage rates have slowed the red-hot housing market. Over the past nine months, we’ve seen fewer homes sold than the previous month as home price growth has slowed. All of this is because the average 30-year fixed mortgage rate has doubled this year, severely limiting homebuying power for consumers. And this […]

  Some Highlights Even with higher mortgage rates, the mortgage process doesn’t need to be something you fear. Here are some steps to help as you set out to buy a home. Know your credit score and work to build strong credit. When you’re ready, lean on the pros and connect with a lender so you can get pre-approved and begin your home search. Any major […]

If you’re looking to buy a home in Chicago, you probably want to secure the lowest interest rate for your home loan. Over the last couple of years, that was easier to do as the housing market saw record-low mortgage rates, but rates have risen dramatically this year. If you’re looking for ways to combat […]

Mortgage rates have increased significantly in recent weeks. And that may mean you have questions about what this means for you if you’re planning to buy a home in Chicago, Illinois, and surrounding areas. Here’s some information that can help you make an informed decision when you set your homebuying plans. The Impact of Rising […]

If you’re following today’s housing market, you know two of the top issues consumers face are inflation and mortgage rates. Let’s guide our focus and take a look at each one. Inflation and the Housing Market This year, inflation reached a high not seen in forty years. For the average consumer, this probably affected their […]

  Some Highlights Mortgage pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, determined how much you’re qualified to borrow. Being pre-approved for a loan can give you clarity while planning your homebuying budget, confidence in your ability to secure a loan, and helps sellers know your offer is serious. Connect with a […]

If you’ve been thinking of buying a home, you may have been watching what’s happened with mortgage rates over the past year. They’ve risen dramatically, but where will they go from here, especially as the market slows? As you consider your homeownership goals and decide whether now is the time to make your move, the […]