Buyers: Don’t Track Mortgage Rates, Track APRs

Smart buyers compare mortgage rates from multiple lenders, but the APR (annual percentage rate, which includes fees) is a better gauge of costs over time.
http://dlvr.it/RsmRqC

Comments

Post a Comment

Your comments are always welcomed and appreciated. Thank you.

Popular posts from this blog

Challenges for Miami Homebuyers

Image
Navigating the New Real Estate Landscape:  Challenges for Miami Homebuyers Miami Homebuyers Facing Obstacles The real estate market in Miami has become increasingly challenging for homebuyers. Over the past few years, housing prices have skyrocketed, while mortgage interest rates have risen to unexpected levels. Unfortunately, wages haven’t kept pace with inflation, making it more difficult for many to afford their dream home. As if these challenges weren’t enough, new rules from the National Association of Realtors (NAR) are set to change how commissions are handled in real estate transactions, adding another layer of complexity for buyers. The Impact of the NAR Settlement Rules Beginning this Saturday, real estate agents listing homes on the Multiple Listing Service (MLS), a widely used database for agents, will no longer be allowed to advertise any compensation to buyer's agents. Previously, it was common for sellers to pay commissions to real estate agents on both sides of the ...
Read more

Navigating the Miami Real Estate Market: Overcoming the Biggest Obstacles for Home Buyers

Image
Navigating the Miami Real Estate Market: Overcoming the Biggest Obstacles for Home Buyers The Miami real estate market is one of the most dynamic in the country, but for many home buyers, it presents significant challenges. The biggest obstacle? A combination of high property prices and limited inventory. Miami's appeal as a global destination, coupled with strong population growth and an influx of out-of-state buyers, has driven demand to new heights. This increased demand, paired with a relatively low supply of available homes, has led to steep price increases. For many buyers, particularly first-time buyers, this makes finding and affording a home more difficult than ever. Adding to the challenge are rising interest rates and stricter lending standards, which can make securing favorable financing a hurdle. In such a competitive market, where cash offers and bidding wars are common, the path to homeownership can feel daunting. But don't let these obstacles deter you. With the...
Read more