Misconceptions About Mortgage Down Payment and Credit Scores Busted

Confused about what’s actually required to qualify for a home mortgage loan in today’s housing market? Here’s the facts…

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Increasing mortgage rates affect home value.

The Impact of Mortgage Rates on Home Values

Property Value Impacted by Mortgage Rates

Many real estate experts have noted the possible effect that rising rates will have now and in the near future on the value of homes.  Low mortgage rates were a major factor in the market’s recovery the past several years.

The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors (NAR) all project 2017 mortgage interest rates will rise. Increasing interest rates will definitely impact purchasers and may stifle demand.  The fed has already indicated they will most likely raise rates soon, possibly in March.

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Buying is Now 37.7% Cheaper than Renting

The results of the latest Rent vs. Buy Report from Trulia shows that home-ownership remains cheaper than renting with a traditional 30-year fixed rate mortgage.

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