The Drop in Mortgage Rates Brings Good News for Homebuyers
Over the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The drop happened over concerns about a potential recession. And since mortgage rates have risen...
Think Home Prices Are Going To Fall? Think Again
Over the last two years, home prices across Central Virginia appreciated at a dramatic pace, to say the least. While that led to incredible equity gains for RVA homeowners, it’s also caused some buyers to...
Wondering Where You’ll Move if You Sell Your House Today?
If you put a pause on your Richmond home search because you weren’t sure where you’d go once you sold your house, it might be a good time to get back into the market. That’s because today’s market is...
The One Thing Every Homeowner Needs To Know About a Recession
A recession does not equal a housing crisis. That’s the one thing that every homeowner today needs to know.
Sellers Have an Opportunity with Today’s Home Prices
As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news.
What’s Happening with Mortgage Rates, and Where Will They Go from Here?
Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter...
What Happens to Real Estate Prices if Mortgage Rates Turn Higher?
It’s surely possible to have both higher home prices and higher mortgage rates if demand is sufficient - and that's being proven right now as mortgage rates tick up slightly while the Fed hints at raising...
What exactly is an appraisal gap threshold contingency?
Question: Some friends have submitted an offer to buy a home, an offer that includes an “appraisal gap guarantee" or "appraisal threshold." What is this, and how does it help the buyer?
