The "Mortgage Lock" Effect: A Closer Look at The Inland Empire's Real Estate LandscapeOver the last few years, we've seen a significant shift in mortgage rates. From an all-time low of 2.65% for 30-year fixed mortgages in January 2021, rates have more than doubled to an average of 7% as of summer 2023. This abrupt shift has introduced new challenges for homeowners across the nation.The Emergence of...
Purchasing a home is an exciting milestone, but it's important to recognize the significant role your credit score plays in securing a home loan. Lenders review your credit history to assess your financial responsibility, and your credit score directly impacts the interest rates and loan terms you qualify for. In this guide, we will delve deeper into the significance of your credit score in the home...
Amid economic volatility and speculation, the housing market has remained remarkably resilient. Despite earlier concerns and sensational headlines predicting a collapse in 2023, the reality is far from the painted doomsday scenarios. Among other reports, here are some examples of what we saw in some publications:During the fourth quarter of last year, many housing experts predicted home prices were going...
https://youtu.be/8lSKeOgP7y8The talk of the town nowadays is “The Housing Market”! Here in Southern California, we have a truly perplexing environment that in some ways, is hard to wrap our heads around.As we look back on the past three years since the pandemic started, the market has been on a fierce rising trend. Even as mortgage interest rates have more than doubled ove the past year or so,...
When you look at the numbers today, the one thing that stands out is the strength of this housing market. We can see this is one of the most foundationally strong housing markets of our lifetime – if not the strongest housing market of our lifetime. Here are two fundamentals that prove this point. 1. The Current Mortgage Rate on Existing Mortgages First, let’s look at the current rate on...
Throughout Women’s History Month, we reflect on the impact women have in our lives, and that includes impact on the housing market. In fact, since at least 1981, single women have bought more homes than single men each year, and they make up 17% of all households.Why Is Homeownership So Important to Women?The rise in women pursuing homeownership hasn’t just made an impact on the housing market....
If you’re thinking about buying a home, you want to know the decision will be a good one. And for many, that means thinking about what home prices are projected to do in the coming years and how that could impact your investment.This year, we aren’t seeing home prices fall dramatically. As the year goes on, however, some markets may go up in value while others may lose value. That’s why it’s...
Are you having trouble finding a home that fits your needs and your budget? If so, you should know there’s an option worth considering – condominiums, also known as condos.