“I’m sorry, but you can’t always be ‘experiencing a higher volume of calls than average.’ That’s not how averages work.” The “average” person has a student loan, or a car loan, or credit card debt, or all three. Throw in mortgage interest rates around 7 percent, homeowner’s insurance of possibly thousands of dollars, utilities, property taxes, maintenance, mortgage insurance…you get the picture. Home affordability has deteriorated due to all those reasons, not the least of which is mortgage rates, sidelining many prospective buyers from entering the housing market. But even with tight credit standards and high interest rates continuing to…
Author: Private Lending Agent
No-down-payment mortgages could be a good solution, but only for certain types of buyers, experts say. Getty Images Rising home prices and current high mortgage rates have made buying a home prohibitively expensive. “Home affordability today is the worst it's been since the early 1980s,” says Neil Christiansen, branch manager and certified mortgage advisor at Churchill Mortgage.Meanwhile, inflation and high interest rates are making it harder for many would-be buyers to save up for a down payment: The average US home would require about $88,000 for a 20% down payment, according to data from Redfin.However, you don't always need to…
According to the latest Producer Price Index (PPI) report released by the U.S. Bureau of Labor Statistics, inputs to residential construction (commodity prices excluding food and energy) rose 0.19% in June. The index of inputs to residential construction (commodity prices excluding food and energy) represents the building materials used in residential construction. In May, the index fell 0.26% after rising 0.22% in April. For the year, the index rose 2.65% in June. Year-over-year growth continues this year, with June's increase being the highest since February 2023. While overall inflation is declining, prices of inputs to residential construction have accelerated since…
LEASESCommonwealth Commercial Partners, LLC reports the following transactions:Commercial Lightning Protection, LLC renewed its 3,800 square feet lease at 6290 Old Warwick Road in Chesterfield.Weir Consulting Group, LLC renewed its 4,183 square feet lease at 3957 Westerre Parkway in Henrico.ARA-South Laburnum Dialysis LLC renewed its 6,264 square feet lease at 4817 S. Laburnum Ave. in Henrico County. Tucker Dowdy and Russell Wyatt represented the Landlord.Recovery Virginia, LLC leased 14,572 square feet at 3751 Nine Mile Road in Henrico.Cushman & Wakefield — Thalhimer reports the following transactions:Academy Sports leased 63,200 square feet of retail space at Pocono Crossing, 10400 Midlothian Tpke, in…
When investing in fixed term deposits, you will generally want to look for the bank that offers the highest interest rate. As a rule of thumb, the longer the deposit term, the higher the interest rate. For example, interest rates on short-term fixed deposits (up to six months) at banks are usually between 3 and 4.5 percent per year. If the term is extended to one year, the interest rate rises to 6 percent. In other words, the interest rate increases slightly as the term increases. Here is a list of the major banks' interest rates for 5-year fixed deposits.…
Rachel Wilbur Homeowners Association (HOA) presidents juggle a variety of responsibilities to keep their neighborhoods pleasant and well-maintained. From manicured lawns and smooth roads to consistent home exteriors, there's a lot to oversee. In this article, we'll cover some key areas that HOA presidents should focus on to keep their communities looking beautiful and functioning. By being vigilant and proactive, you can improve the quality of life for all residents and create a thriving community. Landscaping and green spacesAs an HOA president, maintaining green spaces is one of your primary responsibilities and certainly the one that residents pay the most…
(NASDAQ: RDFN) — According to a new report from tech-enabled real estate brokerage Redfin (redfin.com), a homebuyer with a monthly budget of $3,000 can purchase a $447,750 home with a mortgage rate of 6.85%, which averaged as of July 11. That buyer has increased their buying power by $22,500 since they were able to purchase a $425,500 home with an average interest rate of 7.5%, when mortgage rates hit a five-month high in April. Mortgage rates fell to their lowest since March following Thursday's inflation report, and the supply of homes for sale is also increasing, giving buyers an edge…
Today’s mortgage rates Rejoice! Average mortgage rates tumbled yesterday. That was down to an excellent inflation report. And you have to go back to March to find appreciably lower mortgage rates than today’s. First thing, it was looking as if mortgage rates today might barely budge. But that could change later in the day. Current mortgage and refinance rates Find your lowest rate. Start here ProgramMortgage RateAPR*Change Conventional 15-year fixed 6.437% 6.514% -0.12 Conventional 10-year fixed 6.316% 6.386% -0.12 5/1 ARM Conventional 6.383% 7.675% -0.14 30-year fixed VA 7.076% 7.119% +0.01 30-year fixed FHA 6.985% 7.03% +0.09 Conventional 20-year fixed…
For 2024, that standard deduction is $14,600 for single people and $29,200 for married couples filing jointly. The deduction is limited to $750,000 for homes purchased after Dec. 16, 2017, and interest rates were at rock bottom in 2020, 2021 and early 2022, making it often impossible for borrowers to itemize and deduct mortgage interest. Mortgage interest deduction is “more meaningful” than last year Mortgage rates plummeted with the onset of the pandemic, with the average U.S. rate on a 30-year fixed mortgage plummeting to 2.67% at the end of 2020 before starting to rise sharply in the first few…
Selling a house as-is means putting the property on the market in its current condition, without making any repairs or improvements. This approach is appealing to homeowners who want to avoid the time, effort, and expense of fixing up their home before selling. The purpose of this article is to provide you with a comprehensive strategy for selling your house as-is in Denver and help you navigate the process effectively to secure a successful sale. For those considering this avenue, learning about cash home buyers in Denver can provide valuable insight and options. iBuyer.com offers a streamlined process to help…