Wednesday’s post-meeting statement of the Federal Reserves Federal Open Market Committee reaffirmed its concern over the coronavirus pandemic and its impact on the economy and health of all Americans. The Committee voted to hold its benchmark target federal funds range at 0.00 percent to 0.25 percent. Analysts do not expect the Fed to raise its key interest rate more than once in the next three years.
The idea of owning a home is enough to bring joy to nearly anyone’s eyes. The reality is that many people are a bit skeptical about looking for a home in the present climate. While the pandemic can make it hard for people to go outside and explore, now is still a great time to apply for a home loan.
Credit scores control so much of what we do in the world of finances, but what does your credit score really have to do with your mortgage? Here are three ways that your credit score could impact your mortgage application.
The era of social distancing has impacted everyone and this has left people wondering how they are going to maintain control over their sanity. The positive news is that social distancing doesn’t mean that people have to stay inside at all times. There are still ways to go outside and remain socially distant. Check out a few fun activities that people can do together while still social distancing.
Last week’s economic reporting included readings on sales of new and previously owned homes. State and federal data on new and continuing jobless claims were released along with Freddie Mac’s weekly report on mortgage rates.
Sales of New and Existing Homes Rise in June
Sales of new homes rose at their highest rate in 13 years according to the Commerce Department. New homes sold at a seasonally-adjusted annual pace of 776,000 sales, which exceeded the expected reading of 710.000 new single-family homes sold and May’s reading of 682,000 new homes sold. Analysts said that increased interest in relocating to suburban areas and low mortgage rates fueled buyer interest in new homes.
If you are like a lot of homeowners who have just sold their homes, packing up to move is the least enjoyable aspect of the whole thing. Packing is always time consuming, but it is worse when you have weird shaped items to pack. Sometimes the most commonly used items end up being difficult to pack.
A study by the World Health Organization says that 90% of our health comes from where and how people live. Homeowners are paying more attention to wellness. These considerations extend to the home that they want to buy. Do you want to get a great price when you sell your home? Go green and go healthy.
When most people talk about real estate, they envision buying an already-built house on already-landscaped property. However, buying vacant land and building a new home is a great way to ensure that you get the home that you want in the location that you want.
If you’ve expressed any interest in buying a home that you can work on, your real estate agent may present you with one or two fixer upper properties for your consideration. Fixer upper homes can offer good value for certain kinds of homebuyers.
But not everyone should buy a fixer upper. Here are some considerations to keep in mind.
Last week’s economic reports included readings from the National Association of Home Builders on housing markets along with Commerce Department data on housing starts and building permits issued. Weekly reports on mortgage rates and unemployment claims were also released.