Category: buying definition
Key takeaways: If you have the means, now may be a good time to buy a house. The median U.S. home sale price hit $435,000 in October, following 16 months of year-over-year gains. Daily average mortgage rates topped 7% and... Read More
When you decide to sell your home and sign an agreement with an agent, one of the first things your agent will do is list your home on the Multiple Listing Service (MLS). The MLS is... Read More
Key takeaways: The Fed just lowered their interest rate benchmark by 0.5%, which may be good news for homebuyers waiting for lower mortgage rates. If you want to beat the competition, now is a great time to buy a house. Daily average mortgage rates... Read More
Are you buying or selling a home? Then you might be wondering: “Who pays the real estate agent?” Traditionally, this cost has been shouldered by the seller, but recent changes have brought new dynamics into play. The National Association of Realtors (NAR) and... Read More
There are important changes happening in the real estate industry this month. The National Association of Realtors and multiple listing service (MLS) have implemented new rules about how real estate agents communicate about real estate fees. The changes provide greater... Read More
Key takeaways: If you want to beat the competition, now is a great time to buy a house. Daily average mortgage rates hit a 14-month low of 6.34% on Monday, giving buyers thousands of dollars in buying power. Don’t wait to... Read More
When you’re about to make an offer on a home, your real estate agent will ask how much “earnest money” you’d like to put down. Earnest money is a type of security deposit, also known as a “good faith” deposit, made to the seller of a home. It... Read More
Whether you’re a first-time homebuyer or have several home transactions under your belt, it helps to start the home-buying journey with accurate information so you can make informed decisions. Read More
The mortgage industry has its own language, and in order to understand it, homebuyers need to learn different acronyms and jargon when shopping for a home loan. A typical home loan payment or mortgage payment involves a single payment, which is the sum of four different line items:... Read More