Armando Does Loans

08/08/2024

Mortgage rates plummeted this week after weaker-than-expected employment data raised the odds of the Federal Reserve cutting interest rates next month. It’s a big step in the right direction for America’s notoriously unaffordable housing market.

07/20/2024

There is no crash on the horizon...

05/29/2024

Excellent chart in this article showing the relation between interest rates and affordability amongst different household income levels.

With expected lower mortgage rates, buyers at all income levels will be able to afford a greater number of listings, thereby expanding their choices.

05/19/2024

05/14/2024

Is it better to buy now, or wait? The answer depends on your circumstances. https://www.fha.com/fha_article?id=3803

05/10/2024

Do you know why buying a house without having it inspected first is a TERRIBLE idea? Hint--appraisals are NOT the same as inspections. https://fha.com/define/home-inspection

05/09/2024

Did you know that the typical homeowner has a net worth 40 times greater than that of the typical renter? On this week’s episode of Real Estate Today, NAR President Kevin Sears joins to discuss all the incredible benefits of homeownership.

Tune in to learn how owning a home can build wealth, create stability, and open doors to financial opportunities.

https://apple.co/44ueEFA https://spoti.fi/3UQDc7x

05/07/2024

The costs of buying home go beyond just the listing price. Use our budget calculator to get the full picture of what your homebuying budget will look like. 🏡💵
https://myhome.freddiemac.com/resources/calculators/how-much-can-you-afford

04/27/2024

Home sales based on contract signings jumped in March despite elevated mortgage rates that month.

04/23/2024

Like so many college grads before her, Caitlin Clark will now have to find a place to live in Indianapolis, close to her new job, which pays precisely $76,535. (Clark did earn close to $3 million during college in name, image, and licensing deals, but we’re focusing on her post-collegiate salary here.)

While that’s a decent sum for someone so young, these five figures pale in comparison with the starting salary—an incredible $12 million—of Victor Wembanyama, the first pick in last year’s NBA draft.

In the U.S., real estate list prices hit a median of $424,900 in March. That, coupled with rising mortgage rates, means the average American (and new homebuyers like Clark) need to make an annual income of $86,100 to snag a median-priced home (not counting tax and insurance).

Full story: https://rltor.cm/oji32o

04/23/2024

First-time buyers represented 32% of buyers, up from 26% in February 2024 and 28% in March 2023. 29% of homes sold above list price, up from 20% last month and 28% one year ago.
https://www.nar.realtor/research-and-statistics/research-reports/realtors-confidence-index