Dan Freshley Mortgage Banker

Mortgage rates have already dropped into the upper 5s twice this year. But after just a few days, they ticked back up into the low 6% range. If you saw that and thought, “ Great. I missed it ,” you’re not the only one. A lot of buyers are treating the 5s like some kind of magic number. As if moving from 6.1% to 5.99% suddenly changes everything . And from a mindset perspective, it does feel different. But here’s the part most people don’t actually run the math on. The Payment Difference...

What if you didn’t have a mortgage payment on your next house? It may sound a little unrealistic. But for a number of homeowners, it’s actually doable. Nearly 3 in 10 homes purchased today are bought in cash , according to the National Association of Realtors (NAR). That’s far more than the pre-pandemic norm ( see graph below ): So, how are so many buyers pulling that off? The answer is simple: home equity . Back in 2020-2021, mortgage rates and the number of homes for sale were both at...

For a lot of parents or grandparents, watching a family member struggle to buy their first home right now is hard. That's because you saw firsthand how homeownership gave your life more stability and helped grow your net worth – and you want your loved ones to have those same opportunities. But with all the affordability challenges in recent years, that can feel like an uphill battle – even though it’s slowly improving lately. Here’s what you may not realize. You may be in a unique position...