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Core, Realtors

Tag: Home Buyer News

Cost Burdens Drop for Owners, Remain High for Renters
Posted on 11/15/2019
Cost Burdens Drop for Owners, Remain High for Renters
Image by Shahid Abdullah from Pixabay Here is another reason to own a home. Costs of home ownership are over time become less of a burden. There is an increase in home ownership cost mainly from increasing property taxes, ultility and maintenance costs. However rents are generally increasing at a much faster rate. In addition, people who rent...
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Study: Down Payment Assistance Buyers No More Likely to Default
Posted on 11/13/2019
Study: Down Payment Assistance Buyers No More Likely to Default
Image by StartupStockPhotos from Pixabay Here is a study telling the facts about the those that use down payment assistance (DPA) and their perfromance in paying off their mortgages. Good news is there was no evidence those that use DPA are no more likely to default on their loans than those who don't use DPA. Here are more...
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Mortgage Rates Rise Again This Week
Posted on 11/01/2019
Mortgage Rates Rise Again This Week
Source: Freddie Mac and REALTOR® Magazine Home buyers are taking advantage of the recent mortgage interest rate reduction tp purchase or refinance a high interest rate mortgage. This demand is pushing up interest rates. With the holidays quickly approaching the recent increases should slow or even reverse. It is still a very good time to buy a home....
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Here’s a Treat: Fed Cuts Rate for Third Time This Year
Posted on 10/31/2019
Here’s a Treat: Fed Cuts Rate for Third Time This Year
Image by Gerd Altmann from Pixabay Although a reduction in the Fed Funds Rate doesn't directly affect the home mortgage market it is a harbinger for continued low mortgage rates into 2020. Here are more details on today's action by the Federal Reserve Bank. For the third time this year, the Federal Reserve cut interest rates by a...
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Where Buyers Are Overleveraged for Homeownership
Posted on 10/29/2019
Where Buyers Are Overleveraged for Homeownership
Image by Gerd Altmann from Pixabay In this survey Portland, OR ranked #10 highest with a leverage ratio of 3.28. We are lower than Seattle and Boston. However we are higher than expensive cities including Washington, D,C, and New York. Still based on the median loan amount and median income listed below for Portland, the monthly payment for...
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Portland area sees home sales bump in September
Posted on 10/21/2019
Portland area sees home sales bump in September
Source: St. Louis Federal Reserve Bank https://fred.stlouisfed.org/series/MORTGAGE30US This year our housing market sales took a while to get going. With mortgage interest rates dropping below 4% along with slowing home price appreciation, buyers came back to the market. With the upcomming election year, more than likely mortgage interest rates will stay below 4% through 2020. The challenge will...
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Mortgage Rates Leap, But Buyers Shouldn’t Worry
Posted on 10/18/2019
Mortgage Rates Leap, But Buyers Shouldn’t Worry
Sorce: Freddie Mac and REALTOR® Magazine Inspite of the slight uptick in mortgage rates, it is still a great time to buy a home. As pointed out in the article, today's rates are a percentage point lower than at this time last year. More than likely mortgage rates will tend to lower through the end of this year...
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Economists: Mortgage Rates Likely to Go Lower in 2020!
Posted on 10/07/2019
Economists: Mortgage Rates Likely to Go Lower in 2020!
Image by Andreas Breitling from Pixabay Good news for home buyers. Mortgage interest rates are expected to drop even further into 2020. With a cooling of home appreciation growth, home affordability looks to be even better into next year. Here are more details on this. In the last month, mortgage rates have fallen to their lowest monthly averages...
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‘Black Friday’ for Home Buying Is Near!
Posted on 09/21/2019
‘Black Friday’ for Home Buying Is Near!
Image by Gerd Altmann from Pixabay. In the Portland, OR area the best time of the year to list your home is May or early June at the beginning of Summer. Based on recent historical data the best time of the year to buy a home is the beginning of Fall. In fact this coming week is this...
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