Unless homebuyers pay cash for the total price of a home, they are likely to borrow at least some of the money needed to make the purchase. Banks, mortgage companies, and other lenders offer a broad array of secured loans, known as mortgages, to help buyers realize their dream. A mortgage is a loan used … Read more
Highlights In January, the median home price was $375,000, the same as in December. January’s existing-home sales declined after increasing for three months. Year-over-year home price annual gains ranged from 17.5% to 18.3% as of November.
Nationally, the number of homes listed in January was 326,312, down an average of 9.1% compared to January 2021. However, homes continue to sell at a rapid pace. The typical home spent 61 days on the market in January, ten days less than in January 2021, and more quickly than any January going back to … Read more
Soon after signing mortgage loan documents that lock in a 15- or 30-year debt, homeowners dream about paying off the debt early to get rid of the monthly burden. But, even if you could pay the mortgage off early, is it a good idea? When Considering Paying Off a Mortgage Early It would be nice … Read more
Most prospective home buyers work with a mortgage lender to finance a home purchase. In fact, according to a U.S. Census statistic in 2020, 64.8% of current homeowners used a mortgage loan to buy their homes. As interest rates fluctuate, borrowers generally lock in fixed rates to ensure that their monthly mortgage payments remain steady … Read more
