Mortgage Interest Rate Fundamentals

Thinking about buying a home soon?  Few fully understand how home mortgages are priced.  Being that a home mortgage is one of the largest financial transactions a homeowner makes, click the link to read more about the fundamentals of mortgage interest rates and up your knowledge before plunging into that new home purchase.  To read the full article, click here:...

You’ll Need More Income for Your Down Payment in Raleigh-Cary

The median income required for a down payment in Raleigh-Cary is higher than the nation’s median income, according to the 2016 first quarter data from the National Association of Realtors.  For Raleigh-Cary, the median income needed for a 5% down payment is $51,291;  $48,591 for a 10% down payment; and $43,192 for a 20% down-payment.  Nationally, the median incomes are all below $50,000.  To read the full article, click...

It’s Not Just Millennials Who Aren’t Buying Homes

As compared to historic long-term averages, Americans in all age groups under the age of 65 are showing reluctance to purchase homes. Since 2005, home-ownership rates for all Americans have fallen.  However, this may be because rates in the last decade were artificially elevated due to the housing boom.  Even compared to mid-1980s rates, however, ownership rates have fallen for every under-65 age group (under 35, 35-55, 45-54, and 55-64).  To read the full article, click...

Student Loan Debt is a Drag on the Housing Market

A recent report from the National Association of Realtors shows that the United States has $1.3 trillion in student loan debt.  A survey of recent home-buyers showed that one-fourth have student loan debt, typically in the amount of $25,000.  Among those who have not yet purchased a home, 71% cite student loan debt as the factor delaying them from purchasing their first home.  Unfortunately, even those who are able to buy a home have cited student loan debt as a difficulty in the home buying process.  To read the full report, click...