Are you planning to move to a new home soon? Packing and moving more items can be expensive and exhausting. As such, decluttering is recommended to get rid of some of the dead weight before the move. It is important to note that the more you have, the more time you need to pack. Plus, you will need more resources to keep those items. Quoted rates for packing and...
Key takeaways Morgan Stanley has predicted a 10% drop in housing prices from June 2022 to 2024. This is juxtaposed with the 45% pricing increase the U.S. housing market saw between December 2019 and June 2022. Some markets are already showing a significant pricing drop, topping the list are metros like San Francisco, Seattle and San Diego. While house prices are likely to drop, demand for...
High mortgage rates have put some much-needed pressure on the housing market in recent months after home prices hit record highs across the nation. But as mortgage rates have shown some decline lately, many economists are mixed about whether home prices will continue to decelerate through 2023—or crash. The nation’s overall housing supply remains limited, as those who purchased homes in recent...
housing bubble, also sometimes referred to as a “real estate bubble,” occurs when the price of housing rises at a rapid pace, driven by an increase in demand, limited supply and emotional buying. Another significant cause can be a prolonged period of sub-normal interest rates. Lower rates allow more people to buy, stimulating demand. Once speculators recognize that housing prices are on the...
Recessions and falling home prices aren't anything new. Housing prices took a nosedive during the Great Depression of 1929 and, in hindsight, that housing recession wasn't really a good time to buy real estate in the short term because it lasted until 1939. Dating back to 1945, there have been 11 recessions that have taken, on average, 11 months to reach their lowest point. Many of them shared drops in...
Today’s Current Mortgage Rates The average APR fell on a 30-year fixed mortgage today, slipping to 6.40% from 6.57%. Meanwhile, the average APR on the 15-year fixed mortgage is 5.66%. This same time last week, the 15-year fixed-rate mortgage APR was at 5.89%. Rates are quoted as APR. The average APR on the 30-year fixed-rate jumbo mortgage sits at 6.40%. The average APR on a 5/1 ARM is 7.40%....
Foreclosure is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of the mortgaged property and selling it. Typically, default is triggered when a borrower misses a specific number of monthly payments, but it can also happen when the borrower fails to meet other terms in the mortgage document. KEY TAKEAWAYS Foreclosure is a legal...
Sometimes your mortgage lender's appraiser says the house is worth less than you agreed to pay. This is known as an appraisal gap or a low appraisal. You may have to pay the difference in cash or renegotiate with the seller to keep the deal alive. What happens when the appraisal is lower than the offer? When facing an appraisal gap, you have the following options: Pay the difference in cash...
How Much Does a Solar Battery Storage System Cost (And Is It Worth It?) Are Solar Batteries Cost-Effective? Some of the major contributors to solar battery costs are the chemical materials that make up the battery, the life cycle of the battery, the storage capacity, and the usable capacity. These factors can cause the storage system costs in the UK to typically range between £1,200 and...
How Much Does a Solar Battery Storage System Cost (And Is It Worth It?) Are Solar Batteries Cost-Effective? Some of the major contributors to solar battery costs are the chemical materials that make up the battery, the life cycle of the battery, the storage capacity, and the usable capacity. These factors can cause the storage system costs in the UK to typically range between £1,200 and...