For more than 79 years, Veterans Affairs (VA) home loans have helped millions of veterans buy their own homes. If you or someone you care about has served in the military, it’s essential to learn about this program and its advantages. Here are some important things to know about VA loans before you buy a home. The Many Advantages of VA Home Loans VA home loans provide a pathway to homeownership for those who have served our nation, and they’re…

Read More Read More

Are you dreaming of buying your own home and wondering about how you’ll save for a down payment? You’re not alone. Some people think about tapping into their 401(k) savings to make it happen. But before you decide to dip into your retirement to buy a home, be sure to consider all possible alternatives and talk with a financial expert. Here’s why. The Numbers May Make It Tempting The data shows many Americans have saved a considerable amount for retirement…

Read More Read More

If you’re weighing your options to decide whether it makes more sense to rent or buy a home today, here’s one key data point that could help you feel more confident in making your decision. Every three years, the Federal Reserve Board releases the Survey of Consumer Finances (SCF). That report covers the difference in net worth for both homeowners and renters. Spoiler alert: the gap between the two is significant. The average homeowner’s net worth is almost 40X greater…

Read More Read More

As the year winds down, you may have decided it’s time to make a move and put your house on the market. But should you sell now or wait until January? While it may be tempting to hold off until after the holidays, here are three reasons to make your move before the new year. Get One Step Ahead of Other Sellers Typically, in the residential real estate market, homeowners are less likely to list their houses toward the end…

Read More Read More

Published on: June 5, 2023 U.S. adults are more pessimistic about the housing market than during the 2007-2008 financial crisis and housing bubble. Results from a Gallup poll indicate only 21% of respondents – a new low — say it is a good time to buy a house. Last year, 30% believed it was a good time to buy a home. Jeffrey M. Jones, senior editor at Gallup, noted the 2022 and 2023 results are the only times less than half…

Read More Read More

Baby boomers made up 39% of home buyers last year– more than any other generation, and up from 29% in 2021, according to the 2023 Home Buyers and Sellers Generational Trends report from the National Association of Realtors®. Millennials (now ages 24 to 42) had been the top homebuying cohort since NAR’s 2014 report. Generation Y/Millennials’ share fell from 43% in 2021 to 28% last year. The segment with the highest median household income, Generation X (43 to 57 years old), made…

Read More Read More

Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.

It doesn’t matter if you’re someone who closely follows the economy or not, chances are you’ve heard whispers of an upcoming recession. Economic conditions are determined by a broad range of factors, so rather than explaining them each in depth, let’s lean on the experts and what history tells us to see what could lie ahead. As Greg McBride, Chief Financial Analyst at Bankrate, says: