The Feds Hold Rates. As anticipated, the Federal Reserve has chosen to maintain its current policy rates during its latest meeting. Here’s what you need to know about what lies ahead: What changed in the Fed’s statement?  While the Fed’s statement indicates the Board was encouraged by moderating inflation, it pointed more strongly to the importance…

Florida's housing inventory and new listings in Late-Q2 2024 rose compared to last year. Median single-family home prices increased by 1.7% to $427K, while condo prices remained at $324.9K.

Construction-to-permanent loans, often called “single-close” or “CP” loans, are a type of financing that combines the construction loan and the permanent mortgage into one loan. This type of loan simplifies the borrowing process by rolling both phases into a single transaction. Here’s how they generally work: Key Features of Construction-to-permanent loans. Single Application and Closing:…

Use a mortgage calculator to estimate your monthly payments before house hunting. Factors affecting payments include home price, down payment, loan term (15 or 30-yr typically), and interest rate.

Adjustable-rate mortgages (ARMs) offer initial low rates but can increase over time. The experts advise seeking a low rate cap for protection against rising rates.

The value of a top-tier home in Florida in early Summer was $697K. With rising housing prices, many people question the worth of buying a luxury home.

Fixed-rate mortgages offer stability with unchanging monthly payments throughout the term. Variable-rate mortgages have payments that change with interest rate fluctuations, posing potential risks.

Conventional loans typically require a minimum credit score of 620. FHA loans are for borrowers with lower credit scores, as low as 500 with a 10% down payment or 580 with 3.5% down.

Your credit score significantly impacts your mortgage interest rate. A higher credit score can lead to significant savings over the life of a mortgage, both monthly and overall.

The median U.S. home-sale price reached an all-time high of $397,482 in Early-Q3 2024. This 4.7% yearly increase is the most significant growth in over four months.