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Home Loans | Weekly report Blog

Thursday, May 18, 2023   /   by Shane Anderson

Navigating the Current Housing Interest Rates: What Homebuyers Should Know

Introduction

When it comes to purchasing a home, one of the most crucial factors to consider is the prevailing interest rates. These rates directly impact the cost of borrowing and can significantly influence your decision-making process. As of 2023, the housing market has experienced some notable changes in interest rates. In this blog, we will explore the current state of housing interest rates and provide insights for homebuyers looking to make informed decisions.

The Fluctuating Nature of Interest Rates

Interest rates are not static; they fluctuate based on various economic factors such as inflation, monetary policy, and market conditions. In recent years, the housing market has witnessed a shift in interest rate trends, marking a departure from the historically low rates experienced for an extended period.

Current Interest Rate Trends

As of 2023, the housing interest rates have gradually risen from the record lows observed in the previous years. The Federal Reserve,. ...

  home loans, housing market, interest rates, housing market update, shane anderson, anderson residential group

Wednesday, October 21, 2020   /   by Shane Anderson

DO YOU HAVE ENOUGH MONEY SAVED FOR A DOWN PAYMENT?

Do You Have Enough Money Saved for a Down Payment?


One of the biggest misconceptions for first-time homebuyers is how much you’ll need to save for a down payment. Contrary to popular belief, you don’t always have to put 20% down to buy a house. Here’s how it breaks down.

A recent survey by Point2Homes mentions that 74% of millennials (ages 25-40) say they’re interested in purchasing a home over the next 12 months. The study notes, “88% say they have significantly less savings than the average national down payment amount, which is $62,600.”

Thankfully, $62,600 is not the amount every buyer needs for a down payment in the United States. There are many different options available, especially for first-time homebuyers (millennial or not). That amount can also be significantly less, depending on the purchase price of the house.

According to the National Association of Realtors (NAR), “The median ...

  home loans, housing market, anderson residential group, shane anderson

Friday, August 28, 2020   /   by Shane Anderson

The Cost of Renting versus Buying

The Cost of Renting Vs. Buying a Home [INFOGRAPHIC]


Some Highlights

The percentage of income needed to afford a median-priced home today is declining, while that for renting is on the rise.
This is making buying a home an increasingly attractive option for many people, especially with low mortgage rates driving purchasing power.
Let’s connect if you’d like expert guidance on exploring your homebuying options while affordability is high. ...

  home loans, housing market, market update, housing market update

Friday, March 2, 2018   /   by Shane Anderson

Locking in your interest Rate before you buy a home.

With the interest rates going up daily, have you every thought how you can lock the lower rates in while you are looking for a home? Well Now you can. I have a lender that is doing exactly that. Here is how it works. 

Apply for Financing, then the Operations Department will process the application

You have 30 days to view properties, negotiate potential home sales, and to sign the contract

When you present a valid property address within 30 days of the original lock date, they can lock terms to 75 days.  

Call me today to find out more.
Shane Anderson
1610 Professional Blvd
Suite H
Crofton MD 21114
(410) 449-2193

  home loans, interest rates, qualify for a home loan, pre-approval, home qualification

Friday, February 2, 2018   /   by Shane Anderson

Interest Rates February 2018

With the economy doing better we have notices that the interest rates are slowly on the rise. As of January 31 2018 here are the rates you can expect when you buy a home. These interest rates can change daily.

30 Year Fixed: 4.375-4.5%
FHA/VA 4.0 - 4.25%
15 Year Fixed 3.625 - 3.75%
5 Year Arms 3.0 - 3.5% Depending on the lending

     With that being said now is a good time to buy before the interest rates go any higher. I have a chart to help explain what happens when the interest rates go up.

            If you are interested in learning more or want to know what programs are out there that can help just give me a call or shoot me an email. I have lenders on my team that can help answer any questions you may have. To understand more about what has been going on with mortgages you can go to http://www.mortgagenewsdaily.com/consumer_rates/832564.aspx ...

  anne arundel county, home loans, housing market, interest rates, market update, qualify for a home loan, stock market, pre-approval, home qualification

Anderson Residential Group | Modern Maryland Realty
Shane Anderson
1610 Professional Blvd Suite H
Crofton, MD 21114
410-449-2193
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