Tawnya King

08 Nov 2022

Closing Costs And A Cash Sale: Who Pays?

Mortgage

There are some people who are able to pay cash for a home. Typically, these are individuals who are selling an existing property that has gone up in value. Now, all of a sudden, they have a lot of extra money they can spend on a house. If you can pay cash for a home, you have a lot of extra negotiating power. When it is time to complete the sale, who pays? What Is Included In Closing Costs? Before deciding who pays closing expenses, it is important to take a look at what is included. Because you do not…

07 Nov 2022

By Tawnya King

What’s Ahead For Mortgage Rates This Week – November 7, 2022

Financial Reports

Last week’s economic reporting included the Federal Reserve’s statement on its target interest rate range and Fed Chair Jerome Powell’s regularly-scheduled press conference. Data on construction spending and public and private-sector jobs was published along with weekly reports on mortgage rates and jobless claims. Fed Hikes Key Interest Rate Range, but Signals a Future Slowdown The Federal Reserve increased its key interest rate range last week from 3.50-3.75 percent to 3.75-4.00 percent. While this was the highest interest rate range in 15 years, the Fed said it plans to continue raising the target interest rate range until it reduces the…

04 Nov 2022

By Tawnya King

Taking Out a Mortgage for the First Time? Learn Why a Condo Might Be a Great First Home

Home Mortgage Tips

Are you starting to tire of paying your monthly rent to someone and never building any equity? Renting forever can be a significant pain, especially as you're contributing to someone else's financial well-being. The good news is that there are affordable real estate options out there for those investing in their first home. Below we will share a few excellent reasons why an apartment or condo might be the best choice for a first-time home buyer. A Manageable Monthly Payment In most markets across the country, condos and apartments are available at a significantly lower cost than a full-sized house.…

03 Nov 2022

By Tawnya King

The Top Reasons To Pay Off Your Mortgage Before You Retire

Mortgage

As you get closer to your retirement age, you should try to discharge as much of your debt as possible. Unfortunately, many people close to the age of retirement still have a significant mortgage balance they need to pay off. What are some of the top reasons why you should pay off your mortgage before you retire? Your Portfolio Might Not Generate As Much Interest You may have a very low rate on your mortgage, which means that your money is better served in the stock market; however, as you approach the age of retirement, your portfolio might not generate…

02 Nov 2022

By Tawnya King

Downsizing? Here’s What You Can Expect When You Move From a House to a Condo

Home Buyer Tips

Whether the kids have moved out or you just aren't using the extra bedrooms, having a house that feels 'too big' is rarely fun. In today's post, we will share a few changes you can expect when you downsize from a large house to a smaller apartment or condo. Why Downsize At All? As you might imagine, having too much space is the primary reason that couples and families downsize. Larger homes cost more to maintain and can feel empty if it's just one or two people living there. In many cases, old items and clutter tend to build up…

01 Nov 2022

By Tawnya King

3 Reasons Why Your First Home Should Be a Spacious One

Home Buyer Tips

Buying a home for the first time? One of the key considerations you'll need to make is just how much 'house' you want to buy. While going minimal might seem like a good idea to save on costs, having a smaller living space can end up cramping your lifestyle in many ways. Let's take a look at three great reasons why your first home should be roomy, spacious and luxurious. You Might End Up With More Family Than You Think Have you considered whether or not you want to have a family? Whether you're a single young professional or part…

31 Oct 2022

By Tawnya King

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What’s Ahead For Mortgage Rates This Week – October 31, 2022

Financial Reports

Last week’s economic news included readings on home prices from S&P Case-Shiller home price indices along with sales of new homes and federal government data on inflation. Weekly readings on mortgage rates and jobless claims were also released. S&P Case-Shiller Home Price Indices: Home Price Growth Slows in August U.S home prices fell by 9.8 percent year-over-year in August according to S&P Case-Shiller’s National Home Price Index. National home prices fell by -5.3 percent in July. The 20-City Home Price Index rose 13.1 percent year-over-year but reflected readings from markets that were stronger in 2021. Miami. Florida, Tampa, Florida, and…