by Wells Funding Group | Feb 28, 2023 | First Time Home Buyer, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers
After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to...
by Wells Funding Group | Feb 21, 2023 | For Buyers, For Sellers, Housing Market Updates, Interest Rates
The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply:“Two dynamics are keeping existing-home inventory historically low – rate-locked...
by Wells Funding Group | Jan 24, 2023 | First Time Home Buyer, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Pricing
If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors that determine housing affordability are projected to improve this year. Selma Hepp,...
by Wells Funding Group | Jan 17, 2023 | Buying Myths, First Time Home Buyer, For Buyers, Interest Rates, Move-Up Buyers
Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing...
by Wells Funding Group | Jan 2, 2023 | First Time Home Buyer, For Buyers, Interest Rates, Move-Up Buyers
If buying or selling a home is part of your dreams for 2023, it’s essential for you to understand today’s housing market, define your goals, and work with industry experts to bring your homeownership vision for the new year into focus. In the last year, high inflation...
by Wells Funding Group | Dec 21, 2022 | For Buyers, For Sellers, Housing Market Updates, Interest Rates, Pricing
The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates. And in many ways, it’s put the market into a reset position. As the Federal Reserve (the Fed) made moves this year to try to lower inflation, mortgage rates more...
