Buying a Home Can Be Scary… Know the Facts [INFOGRAPHIC]

Buying a Home Can Be Scary... Know the Facts [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

  • 36% of Americans think they need a 20% down payment to buy a home.
  • 44% of Millennials who purchased a home this year have put down less than 10%.
  • 71.8% of loan applications were approved last month.
  • The average credit score of approved loans was 731 in September.

Mortgage Rates by Decade Compared to Today [INFOGRAPHIC]

Mortgage Rates by Decade Compared to Today [INFOGRAPHIC] | Simplifying The Market

 

Some Highlights:

  • The interest rate you secure for your mortgage greatly influences your monthly housing costs.
  • In the 1980s, 30-year fixed mortgage rates averaged in the high 12s making the monthly principal and interest payment over $2,000.
  • Interest rates are still at historic lows; this is a great time lock in your housing cost and protect yourself from increasing rents, or refinance your current mortgage.

Do You Know the Impact Your Interest Rate Makes?

Do You Know the Impact Your Interest Rate Makes? [INFOGRAPHIC] | Keeping Current Matters

Some Highlights:

  • Interest rates have come a long way in the last 30 years.
  • The interest rate you secure directly impacts your monthly payment and the amount of house that you can afford if you plan to stay within a certain budget.
  • Interest rates are at their lowest in years… RIGHT NOW!
  • If buying your first home, or moving up to the home of your dreams is in your future, now may be the time to act!

 

Home Sales Accelerate During The “Dog Days of Summer”

Home Sales Accelerate During The “Dog Days of Summer” [INFOGRAPHIC] | Keeping Current Matters

Some Highlights:

  • Existing home sales have accelerated to the highest pace since February 2007 at an annual pace of 5.57 million.
  • Inventory of homes for sale remains below the historically normal 6-month mark at a 4.6-month supply, down 5.8% year-over-year.
  • Median home sales prices rose to $247,700, 4.8% higher than a year ago and replaced the previous peak in May of $238,900.

 

Slaying Myths About Home Buying [INFOGRAPHIC]

Slaying Myths About Home Buying [INFOGRAPHIC] | Keeping Current Matters

Some Highlights:

  • Interest Rates are still below historic numbers.
  • 88% of property managers raised their rent in the last 12 months!
  • Credit score requirements to be approved for a mortgage continue to fall.

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Should I Wait Until Next Year? Or Buy Now? [INFOGRAPHIC]

Should I Wait Until Next Year? Or Buy Now? [INFOGRAPHIC] | Keeping Current Matters

Some Highlights:

  • The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
  • Freddie Mac predicts interest rates to rise to 4.6% by next year.
  • CoreLogic predicts home prices to appreciate by 5.3% over the next 12 months.
  • If you are ready and willing to buy your dream home, find out if you are able to!

 

Saving To Buy A Home? What Would You Sacrifice? [INFOGRAPHIC]

Saving To Buy A Home? What Would You Sacrifice? [INFOGRAPHIC] | Keeping Current Matters

Some Highlights:

  • 95% of first-time homebuyers are willing to sacrifice to make homeownership a reality.
  • The top thing that buyers sacrifice are new clothes at 54%.
  • Even repeat or experienced buyers say they sacrificed taking a vacation or buying a new car to buy their last home.

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Renting vs. Buying: What Does it Really Cost?

Renting vs. Buying: What Does it Really Cost? [INFOGRAPHIC] | Keeping Current Matterss

Some Highlights:

  • The percentage of income needed to afford a median priced home is almost half the percentage of income needed to afford median rent.
  • Buying costs are significantly less than renting costs.
  • The percentage of income needed to afford a median priced home is less than the historic norm.

 

Fannie Mae’s Housing Forecast [INFOGRAPHIC]

Fannie Mae Housing Market [INFOGRAPHIC] | Keeping Current Matters

Some Highlights: 

  • 30-year fixed mortgage rates are projected to increase steadily over the next year.
  • Housing Starts will well surpass 2015 numbers.
  • Home Sales will reach an annual rate of over 6 million by the fourth quarter of 2016.

 

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