Khadine Fisher’s Blog
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Should You Wait for Lower Rates Before Homebuying?
Mortgage rates are unpredictable and unlikely to drop significantly soon. Waiting for rates to drop might lead to increased competition and higher home prices when they eventually decrease.
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Rent or Own? The Path to Owning Your Home
Weigh Flexibility vs. Investment: Renting offers flexibility, while buying builds equity and offers tax benefits. Consider Long-Term Stability: Buying is better if you plan to stay in one place for many years.
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Homeownership: More Than a Mortgage
Homeownership involves various hidden costs beyond the mortgage, significantly impacting affordability for first-time buyers. The average annual cost of owning a single-family home in the U.S. is $18,118, with homeowners spending about $14,000 on hidden expenses. Key costs include closing fees (2%-5% of the home's price), home inspections (around $342), moving costs (averaging $2,200 locally),…
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2 Ways to Get a Great 30-Year Mortgage Rate
The average 30-year mortgage rate has decreased to 6.87%, down from 7.00% the previous week and much lower than the 7.90% peak in October 2023. To find the best mortgage rates, it's crucial to shop around and improve your credit score. A higher credit score can lead to significant interest savings over the life of…
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Maryland to Receive $8.4M for Affordable Housing
$8.4M in grants for affordable housing projects across Maryland counties. Recent grants include 48 rental units and senior housing improvements across several counties.
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Housing Inventory Surges to Post-Pandemic High in July
House hunting remains challenging due to low affordability and inventory, but signs of recovery are emerging. Active home listings increased by 36.6% annually in July, reaching 884,273, marking the ninth consecutive month of year-over-year growth. The South experienced the highest growth at 47.6%. While the median time listings spent on the market rose to 50…
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Are Affordable Mortgages Still Possible? Tips for Today’s Market
Shop around: Compare rates from multiple lenders to find the best deal. Boost your credit: Improve your credit score by fixing errors and paying down debts.
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Federal Reserve Keeps Interest Rates Steady—but Signals First Cut in 4 Years Could Come in September
Mortgage rates are expected to remain high through summer, but changes may occur in the fall. The Federal Reserve has kept its interest rate steady at 5.25% to 5.5%, indicating it won't lower borrowing costs until more confidence is gained. Despite a stalled housing investment, resilient demand persists. Many investors anticipate a Fed rate cut…
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The first Fed interest rate cut in years is on the horizon.
The 30-year fixed rate mortgage decreased to 6.78% on July 25 from 7.22% on May 2. The Federal Reserve is expected to cut interest rates, influencing mortgage rates to go down. Homebuyers are waiting for rate cuts, with experts predicting cuts in September, November, and December. Refinancing is increasing as rates drop, with experts suggesting…
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How to Find the Best Mortgage Lender
When comparing lenders for a mortgage, ask questions to narrow down the list. Good lenders explain their recommendations and have a clear process. Consider factors beyond rates, like the lender's communication style. Ask about loan estimates, required information, preapproval process, available loans, recommended options, closing time, communication methods, in-house processes, community involvement, and cultural understanding.…