Mortgage & Real Estate News This Week

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Almost everything that is connected with the housing and mortgage housing stock at the present time is dictated by three factors: a limited supply of housing, a low level of mortgage rates and ongoing recovery from the coronavirus pandemic. Here’s how these trends have surfaced this week.

1. When sellers become home buyers, they lose their advantage.

Mainly due to the aforementioned limited home inventory, real estate transactions are happening at a breakneck speed. This is great for sellers, but when those same sellers turn to buy their next home, they find themselves shoulder to shoulder with hordes of other buyers competing for this scarce supply. If you don’t plan ahead with simultaneous real estate transactions, you may be left homeless for some time. Here’s how to avoid this fate.

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2. Buying a mortgage is still critical.

With rates close to historic lows, you can lull you into thinking that it is no longer important to look for multiple offers when you are looking for a new mortgage. You will probably get a good deal no matter who your lender is, right? May be. But for high value loans, small differences in interest and other terms can make a big difference in the long run. Even in this ultra-favorable tariff environment, it is still profitable play on the field

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3. Tenants prepare: the moratorium on evictions ends.

The national moratorium on evictions is due to end at the end of June, and as a result, millions of tenants could be forced out of their homes. While federal protections may be coming to an end, if you, the tenant, are struggling to make your payments, other sources may still be available to help you stay where you are.

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4. Should I combine my student loans into home loan repayments?

Low mortgage rates can be tempting to refinance and pay off other debts, such as student loans… While you can save on interest payments with this strategy, it has some drawbacks, including special protections for student loans and forgiveness programs that will no longer be available if you transfer this debt.

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5. Buying a home out of wedlock.

It’s wedding season now, and since we’re not your mother, we don’t care if you plan to get married anytime soon. Instead, here advice for you if you are planning to purchase real estate with your partner without first wearing a ring.

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