Hope Leitner, Realtor®, CRS

If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as the year moves forward, and interest rates may increase rather dramatically. Here are some predictions on where rates will be by the end of the year: Freddie Mac “ While full employment and rising inflation are  signs of a strong economy, they also have the potential to push mortgage rates and house prices up . The higher rates and higher prices create significant affordability concerns, which may continue to characterize the housing market for the rest of 2017 .” Lynn Fisher,  Vice President of Research & Economics for the Mortgage Bankers Association “ By the time we get to the  fourth quarter of this year , we will still be under 5 percent – we are thinking  4.7 percent …Something north of 5 percent by the time we get to 2018, and by th

Whether you are selling or buying a home, the real estate agent you hire is critical to guaranteeing your family makes the right decision. Most agents can walk you through the process and explain the industry  'lingo,'  but you should expect so much more than that. The housing crisis made everyone aware that truly understanding the real estate market is more complicated than it seems. Today, there are many questions your real estate agent must be able to answer to ensure your family is making the right decision. Here are just a few: What impact does the movement in mortgage interest rates have on buyer demand?  With home prices increasing rapidly, are we headed toward another housing bubble? Do you need a 20% down payment to purchase a home? Why can't we list at a higher price and drop it later if necessary? When you are interviewing an agent to represent your family in your next real estate transaction, make sure they can intelligently answer all your ques