In an article written by Lorie Knish for CNBC.com she states “The hot seller’s market in recent years prompted buyers to go above and beyond to seal the deals on their prospective homes, a recent survey finds.” She further quoting an article from Clever Real Estate, sharing that “72% of buyers int he past couple years have regrets about their home purchase”.
All posts tagged: New home
Buyers Remorse Strikes Over 70% of Recent Home Buyers
The highly competitive home buyers market spanning the past few years has left the majority of buyers with a notable feeling of buyers remorse. The primary causes of the regrets are a result of:
Plunging Affordability is Pricing Out Home Buyers
As inflation surges to levels not seen since the 1980’s, home buyers dreams are slashed. Diana Click for CNBC states “It is clearly due to the plunging affordability,” said Lawrence Yun, chief economist for the Realtors.
Mortgage Interest Rates see the Biggest 3-month Rate Spike since 1994
According to an article written by Matthew Graham for Mortgage News Daily “Adults who are old enough to remember 1994 have always had an ace in the hole when it comes to today’s young whipper snappers complaining about abrupt spikes in mortgage rates. Sure, even older adults have the first few months of 1980, but 1994 was a more compelling example because it wasn’t part of the once-in-a-lifetime inflationary spike. As such, it is a more worthy comparison to any modern example of rate volatility. As of today, the race between the first few months of 1994 and 2022 are neck and neck in terms of damage done to mortgage rates in a short amount of time.”
Refinance Index is 50 Percent Lower than Same Week in January Last Year
According to the Mortgage Bankers Association (MBA) Market Composite Index, the Refinance Index is 50 percent lower compared to the same week one year ago, in January 2021. During the same week there was a small uptick over last year in purchase mortgage activity.
Home Purchase Demand Continues Strong
With many changes happening throughout 2020, one thing has remained consistent; the growth of home purchase demand. The combination of historic low mortgage interest rates and lowering available homes for sale, the pressure has created home purchase demand.
With Mortgage Rates at Record Lows, How Can Buyers Know When To Pounce?
The year of 2020 will be remembered by many people and for many reasons. The year was rocked by a pandemic with a ripple effect that created an economic recession; complex social unrest; and a highly polarized presidential election. Oh, and let’s not forget it was also a year of historically damaging wildfires and hurricanes!
How Builders are Courting Millennials to Buy
Millennials have a different approach to life than previous generations, including how they view the home buying process.
Low Interest Rates Will Continue
Debates about the future of our national economy have always involved many different viewpoints and opinions. Economic advisors and experts build their opinions on a variety of factors, and it is interesting to read their diverse projections. One thing they cannot debate is the fact that our nation has had a decade of low interest rates.
Ideas for First Time Home Buyers
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Homeownership rates for the under 40 crowd have dropped notably in the past few years. Leading finance experts consider this a result of higher college debt, higher credit card debt, increases in childcare costs, and a lower inventory of starter homes.
The good news is many new loan programs are designed specifically to provide first time home buyers a better opportunity to qualify for financing in spite of the challenges they face.
Here are tips that can help a First Time Home Buyer: