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Mortgage Weekly Update

Mortgage Rates Exceed 7 Percent, Yet Application Activity Picks Up

On Thursday, April 18, 2024, Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.1 percent, up from last week when it averaged 6.88 percent. A year ago at this time, the 30-year FRM averaged 6.39 percent. The 15-year fixed-rate mortgage averaged 6.39 percent, up from last week when it…

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What Is an Appraisal Waiver?

What Is an Appraisal Waiver?

Appraisal waivers are a program offered by Fannie Mae and Freddie Mac that allows lenders to bypass the traditional home appraisal process for certain eligible loans and properties. They are also known as “Property Inspection Waivers” (PIWs) or “Value Acceptance,” allow lenders to forgo the requirement of a full in-person appraisal conducted by a licensed…

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Navigating Mortgage Options for Self-Employed Homebuyers: A Realtor's Guide

Navigating Mortgage Options for Self-Employed Homebuyers: A Realtor’s Guide

Embarking on the journey to homeownership can be an exhilarating yet challenging adventure, particularly for self-employed individuals. According to relevant population data, 10.4% of the workforce qualifies as self-employed. And unlike traditional employees with steady paychecks, self-employed professionals face unique hurdles due to their variable income and unconventional financial documentation.  This variability often complicates their…

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Pros and Cons of Purchasing a Home Without Buyer Representation

Pros and Cons of Purchasing a Home Without Buyer Representation

Buying a home is a huge decision, and the process can feel overwhelming. A key player is the buyer’s agent, who champions your needs throughout the deal. But what if you consider striking out on your own? While saving on commission fees might be tempting, there are important advantages and disadvantages to weigh before making…

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How to Lower Your Closing Costs

How to Lower Your Closing Costs

After your down payment, closing costs typically come in as your second-most expensive home buying charge. For most buyers, they can be somewhere around 2% to 5% of the total purchase price — or about $4,000 to $10,000 on a $200K home. What is Included in My Closing Costs? Closing costs are the upfront fees…

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5 Tell-tale Signs You May Be Ready to Give Up Renting and Buy a Home

Building Trust Through Transparency: Communicating with Clients in Real Estate Transactions

In the complex and often high-stakes world of real estate transactions, the bridge of trust between realtors and clients is both a vital asset and a fundamental necessity.  At the heart of building this trust lies the commitment to transparency—a commitment that extends beyond mere openness to embody honesty, integrity, and the relentless pursuit of…

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5 Tell-tale Signs You May Be Ready to Give Up Renting and Buy a Home

5 Tell-tale Signs You May Be Ready to Give Up Renting and Buy a Home

Are you currently renting and wondering if it’s time to take the leap into homeownership? Yes, we know, buying a home is a significant financial decision, and it’s important to make sure you’re ready for the responsibility. Don’t worry, we’ve got you covered. Here are five signs that you might be ready to stop renting…

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Home Warranty vs. Home Insurance: What's the Difference?

Home Warranty vs. Home Insurance: What’s the Difference?

In today’s market, owning a home comes with a whole new set of challenges. Rising costs for everything from materials to labor can turn a minor repair into a major financial blow. That’s where a home warranty comes in, and in 2024, it’s a smarter investment than ever for homeowners. The Basics of Homeowner’s Insurance…

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The Untapped Potential of Micro-Housing in Urban Centers

The Untapped Potential of Micro-Housing in Urban Centers

As cities around the world continue to grow, the challenge of providing affordable, accessible, and sustainable housing has intensified.  In fact. In 2022, the US hit a new all-time low in terms of available housing inventory, clocking in at a measly 860,000 available residences. To make things more complicated, immigration is at an all-time high,…

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Light Pollution: How Homeowners Can Make a Positive Impact

Light Pollution: How Homeowners Can Make a Positive Impact

Light pollution is a significant problem that affects human health, wildlife behavior, and our ability to observe stars. The excessive or inappropriate use of outdoor artificial light contributes to light pollution, leading to issues like sky glow, light trespass, glare, and over-illumination. In this post we’ll talk about the effects of light pollution and how…

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