Tuesday, February 18, 2025 / by Joyce Dungca
It feels like everything is getting more expensive these days. That’s because inflation has remained higher than normal for longer than expected – and that’s impacting the costs of goods, services, and more. And with rising costs all around you, you’re probably questioning: is now really the right time to buy a home?
Here’s the good news. Owning a home is actually one of the best ways to protect yourself from the rising costs that come with inflation.
A Fixed Mortgage Protects You from Rising Housing Costs
One of the key benefits of homeownership is that when you buy a home with a fixed-rate mortgage, your biggest monthly expense — your mortgage payment — stabilizes. Sure, your payment could rise slightly as your homeowner’s insurance and property taxes shift. But no matter what happens with inflation, your principal and interest payments won’t change.
That’s not the case if you rent. Rent tends to ? ...
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team raj jaggi, buyers, sellers, inflation, home prices, homeownership
Wednesday, November 6, 2024 / by Joyce Dungca
You may be hearing a lot of talk about the Federal Reserve (the Fed) and how their actions will impact the housing market right now. Here’s why.
The Fed meets again this week to decide the next step with the Federal Funds Rate. That's how much it costs banks to borrow from each other. Now, that’s not the same thing as setting mortgage rates, but mortgage rates can be influenced through this process. And if you’re thinking about buying or selling a home, you may be wondering about the downstream impact and when mortgage rates will come down.
Here’s a quick rundown of what you need to know to help you anticipate what’ll happen next. The Fed’s decisions are guided by these three key economic indicators:
The Direction of Inflation
How Many Jobs the Economy Is Adding
The Unemployment Rate
Let’s take a look at each one.
1. The Direction of Inflation
You’ve likely noticed prices for everyday goods an; ...
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team raj jaggi, buyers, sellers, inflation, mortgage rates
Thursday, July 25, 2024 / by Joyce Dungca
As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what's ahead.
One thing that can affect mortgage rates is the Federal Funds Rate, which influences how much it costs banks to borrow money from each other. While the Federal Reserve (the Fed) doesn’t directly control mortgage rates, they do control the Federal Funds Rate.
The relationship between the two is why people have been watching closely to see when the Fed might lower the Federal Funds Rate. Whenever they do, that’ll put downward pressure on mortgage rates. The Fed meets next week, and three of the most important metrics they’ll look at as they make their decision are:
The Rate of Inflation
How Many Jobs the Economy Is Adding
The Unemployment Rate
Here’s the latest data on all three.
1. The Rate of Inflation
You’ve probably heard a lot about inflation . ...
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team raj jaggi, buyers, sellers, inflation, mortgage rates
Tuesday, June 18, 2024 / by Joyce Dungca
Chances are you’re hearing a lot about mortgage rates right now. You may even see some headlines talking about last week’s Federal Reserve (the Fed) meeting and what it means for rates. But the Fed doesn’t determine mortgage rates, even if the headlines make it sound like they do.
The truth is, mortgage rates are impacted by a lot of factors: geo-political uncertainty, inflation and the economy, and more. And trying to pin down when all those factors will line up enough for rates to come down is tricky.
That’s why it’s generally not worth it to try to time the market. There’s too much at play that you can’t control. The best thing you can do is control the controllables.
And when it comes to rates, here’s what you can influence to make your moving plans a reality.
Your Credit Score
Credit scores can play a big role in your mortgage rate. As an article from CNET explains:
“Y. ...
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team raj jaggi, buyers, sellers, mortgage rates, inflation
Tuesday, November 28, 2023 / by Joyce Dungca
When it comes to what’s happening in the housing market, there’s a lot of confusion going around right now. You may hear one thing in conversation with your friends, see something totally different on the news, and read something on social media that contradicts both of those thoughts. And, if you’re thinking about making a move, that can leave you with a lot of lingering questions. That’s where a trusted local real estate agent comes in.
Here are the top 3 questions people are asking about today’s housing market, and the data to help answer them.
1. What’s Next for Mortgage Rates?
Mortgage rates are higher than they’ve been in recent years. And, if you’re looking to buy a home, that impacts how much you can afford. That’s why so many buyers want to know what’s ahead for mortgage rates. The answer to that question is: no one can say for certain, but here’s what we know based; ...
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team raj jaggi, buyers, sellers, housing market, inflation, mortgage rates, real estate agents, home prices
