As a prospective homebuyer in 2023, you're likely keeping a keen eye on mortgage rates, given their significant influence on home loan affordability, especially in the present scenario. It's beneficial to analyze the historical journey of mortgage rates and discern their trajectory in alignment with

  It's no secret that inflation influences various economic sectors, including the housing market. But how exactly does this relationship work, and what does it signify for potential home buyers and sellers? Let's delve into the intricate dance between inflation and the housing market, and see what

When someone mentions the 2008 housing crash, many immediately recall the adjustable-rate mortgages (ARMs) that were all the rage back then. Flash forward to today, and we're witnessing the reemergence of ARMs. However, before sounding the alarm bells, let's demystify why ARMs have once again gained

High inflation is making daily expenses steeper, raising concerns among some folks in places like South Portland and Gorham that foreclosures might shoot up. But here’s why that scenario in our beloved Southern Maine is a bit far-fetched. Punctual Payments: The Maine Ethos Across towns like Scarbor

Navigating today's housing scene, two factors are throwing prospective buyers off balance: the steeper mortgage rates compared to the recent past, and escalating home prices due to scarce inventory. Tackling these hurdles, many in places like Portland and Wells are teaming up with agents to discover

Key Takeaways: Home Prices on the Rise: As per expert analysis, various regions are already observing a hike in home prices. The general consensus among experts predicts an optimistic rise in property prices as 2023 unfolds. Mortgage Rates Tied to Inflation: The trajectory of mortgage rates for

For many, the world of the Federal Reserve (often simply called "the Fed") and its effects on the housing market can seem enigmatic. How does a decision by the Fed, situated in Washington D.C., influence your dream of purchasing a home in your locale? Let’s demystify this. The Federal Reserve’s Batt

If you're monitoring mortgage rates because you recognize their impact on your borrowing expenses, you might be contemplating what the future holds for them. Unfortunately, predicting mortgage rates is notoriously challenging. However, history provides a reliable indicator of rate movements, namely

  Before you proceed to list your house for sale, having a grasp of the current housing market climate is crucial. A positive development to note is that homebuyers are adjusting to the prevailing mortgage rates, perceiving them as the new standard. To appreciate the recent trends in mortgage rates,

  As companies across the nation continue to navigate the evolving dynamics of work culture, remote work remains a prevalent choice for many professionals. If you are relishing the comfort of working from home or have ambitions to do so, you're certainly not alone. According to a recent survey, a ma

If you've been giving buying a home some thought, you've probably been frequently monitoring every piece of news about the housing market you can get your hands on. News outlets, social media, chats with your real estate agent, or even casual supermarket conversations - they're all sources of insigh

  As life unfolds, change is inevitable. For many, this could mean contemplating a shift in their living situation. If you're considering selling your house in Southern Maine, it's essential to keep your focus on the reasons behind your decision, rather than getting sidetracked by variables like mor

  Present-day mortgage rates hold significant importance for prospective homebuyers, particularly in the vibrant real estate market of Southern Maine. Whether you're a first-time buyer or considering selling your current property to upgrade to a more suitable home, you might find yourself contemplat

  Some Highlights If you’re looking to buy a home, you should know even a small change in mortgage rates has an impact on your purchasing power. These charts show how rates generally affect your monthly payment. The best way to navigate changing mortgage rates and make an informed buying decision

  If you’re reading headlines about inflation or mortgage rates, you may see something about the recent decision from the Federal Reserve (the Fed). But what does it mean for you, the housing market, and your plans to buy a home? Here’s what you need to know. Inflation and the Housing Market While t

  Everywhere you look, people are talking about a potential recession. And if you’re planning to buy or sell a house, this may leave you wondering if your plans are still a wise move. To help ease your mind, experts are saying that if we do officially enter a recession, it’ll be mild and short. As t

Some Highlights With so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget. You can also work with a trusted lender to consider alternative financing options and search for down payment assistance. If you’ve

  There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determin

  The housing market’s been going through a lot of change lately, and there’s been uncertainty surrounding what will happen this spring. You may be wondering if more homes will go on the market, what’s next with home prices and mortgage rates, or what the best advice is for someone in your position

The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power. The chart below helps show the general relationship