A new study from the Urban Reform Institute and the Frontier Centre for Public Policy finds the U.S. as the most affordable country in the world. The housing markets of Australia, Canada, Hong Kong, Ireland, Singapore, and the U.K. were also ranked. The Demographia International Housing Affordability report found that the least affordable market is… [Read More]
Are you eligible for a USDA home loan?
USDA loans are part of a nation-wide program created by the U.S. Department of Agriculture aimed at helping first-time homebuyers or those who don’t meet conventional mortgage requirements get loans. It’s a home loan that requires no down payment for low- and moderately-income buyers, mostly in rural areas. Looser credit score requirements along with no… [Read More]
Record bidding wars show no signs of slowing
January 2022 was the most competitive month ever for house hunters due to new families, remote workers, and rising mortgage rates according to Bloomberg. “It’s been incredibly frustrating,” said Erin Damato, in an interview with Bloomberg. “House prices have gone up about $100,000 since we’ve been looking.” Damato and her husband have been seriously hunting… [Read More]
What to expect in 2022’s spring market
The agreement of much of the real estate industry was that the spring housing market, which happens to be the industry’s peak season, would be less frenzied this year. At least that was the thought when ushering in 2022. The consensus was that it couldn’t get much worse than spring of 2021 when over 70%… [Read More]
Is now the right time to be a buyer?
The bidding wars and rising housing prices that defined the 2021 market forced frustrated buyers to the sidelines with hopes that the 2022 market would cool. Unfortunately for those buyers, the new year hasn’t brought lower pricing. According to industry experts, the seller’s market is here to stay. “The 2022 housing market is skewed heavily… [Read More]
How the Russia-Ukraine crisis could impact home buyers
As markets react to Russia’s invasion of Ukraine, home buyers are seeing temporary relief from rising interest rates. In the long term however, inflation remains a serious concern. For the week ending February 24, the 30-year fixed-rate mortgage averaged 3.89%. That’s down three basis points from the week prior. The slight decline shows a retreat… [Read More]