https://growella.com/mortgage/ ► Today’s mortgage and real estate news: (1) In real estate, as in life, a home buyer’s best move is to be prepared; (2) Today’s mortgage rates are the lowest in seven week, plus a look at the most recent 5-day trend; (3) In its Existing Home Sales report, the National Association of REALTORS® reports that the average sales price of homes is rising faster than the median, suggesting fewer sales at low price points for first-time buyers and other buyers of homes.
FROM THIS EPISODE
Because mortgage rates change quickly — sometimes five times in a day — and you want every chance possible to get that best combination of low rates, low fees, and good service. And to get all that, you prepare. Know what it means to have a mortgage on a home. You can look that up online. Go deep on your household budget. What can you put toward housing each month? What do you want to put toward housing each month? And, talk to mortgage lenders as soon as you finish with that number two. A good mortgage lender will fill-in-the-gaps for you, asking the right questions to help you choose best mortgage loan for your budget and expected down payment. You’ll get access to pre-approval letters, too, which you’ll need and the best part — you have an established mortgage lender relationship so when your offer gets accepted, you can move instantly to the rate lock stage, and find the best deal available to you.
Jump to the following:
(00:12) Get pre-approved for your mortgage loan to boost your home-buying options
(01:06) Today’s mortgage rates and the 5-day interest rate trend
(01:34) NAR data shows that fewer homes are selling at low price points
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