“The Mortgage Bankers Association expects that rates on 30-year loans could reach 4.8 percent by the end of next year, topping 5 percent in 2017. Rates haven’t been that high since the recession.”
How can this impact the housing market?
The article reported that recent analysis from Realtor.com found that –
“…as many as 7% of people who applied for a mortgage during the first half of the year would have had trouble qualifying if rates rose by half a percentage point.”
This doesn’t necessarily mean that those buyers negatively impacted by a rate increase would not purchase a home. However, it would mean that they would either need to come up with substantially more cash for a down payment or settle for a lesser priced home.
Below is a table showing how a jump in mortgage interest rates would impact the purchasing power of a prospective buyer on a $300,000 home.
If you are considering a home purchase (either as a first time buyer or move-up buyer), purchasing sooner rather than later may make more sense from a pure financial outlook.
Tired of being a tenant? thinking of selling your home?, looking to upgrade? 1st time buyer(s)? buying your dream home? Call us 786.554.8063 or email us George@GeorgeAssal.com, WE are here to facilitate and help you during the process of buying, selling, or renting any real estate needs, which will result in reaching your financial goals quickly and with ease, visit our page www.GeorgeAssal.com
We often talk about the financial reasons why buying a home makes sense. But often, the emotional reasons are the more powerful, or compelling reasons. The Joint Center for Housing Studies at Harvard University performs a study every year surveying participants for the reasons that American’s feel are most important in regards to homeownership.
The top 4 reasons to own a home cited by respondents were not financial.
1. It means having a good place to raise children & provide them with a good education
From the best neighborhoods to the best school districts, even those without children at the time of purchasing their home, may have this in the back of their mind as a major reason for choosing the location of the home that they purchase.
2. You have a physical structure where you & your family feel safe
It is no surprise that having a place to call home with all that means in comfort and security is the #2 reason.
3. It allows you to have more space for your family
Whether your family is expanding, or an older family member is moving in, having a home that fits your needs is a close third on the list.
4. It gives you control over what you do with your living space, like renovations and updates
Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t in your own home?
The 5th reason on the list, is the #1 financial reason to buy a home as seen by respondents:
5. Owning a home is a good way to build up wealth that can be passed along to my family
Either way you are paying a mortgage. Why not lock in your housing expense now with an investment that will build equity that you can borrow against in the future?
Whether you are a first time homebuyer or a move-up buyer who wants to start a new chapter in their life, now is a great time to reflect on the intangible factors that make a house a home. We the ASSAL team are another reason for you to buy a house, while reaching your goal faster, easier and with a smile on your face! Call us today at 786.554.8063 or send us an email at email@example.com– you can count on our help every step of the way.
Now that the housing market has stabilized, more and more homeowners are considering moving up to their dream home. With interest rates still near 4% and home values on the rise, now may be a great time to make a move.
Sellers should realize that waiting while mortgage rates are increasing probably doesn’t make sense. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain budget for your monthly housing costs.
Here is a chart detailing this point:
With each quarter percent increase in interest rate, the value of the home you can afford decreases by 2.5%, (in this example, $10,000). Experts predict that mortgage rates will be closer to 5% by this time next year.
Act now give us a call to help you get your dream home. We at the ASSAL team want to make sure you get the most house for your hard earned money, while reaching your goal faster, easier and with a smile on your face! Call us today at 786.554.8063 or send us an email at firstname.lastname@example.org– you can count on our help every step of the way.
La tasa de interés que usted paga por la hipoteca de su casa tiene un impacto directo en el pago mensual. Mientras mas alto el interes mayor será el pago.
Es por eso que es importante tener en cuenta que las tasas se dirigen al decidir comprar ahora o esperar hasta el próximo año .
A continuación hay una gráfica creada usando el Freddie Mac’s July 2015 U.S. Economic & Housing Marketing Outlook. Como usted puede ver la tasa de interés se proyecta que va aumentar constantemente durante el curso de los próximos 12 meses.
¿Cómo va a afectar el pago de su hipoteca?
Dependiendo de la cantidad del préstamo que usted aseguro, el aumento de la mitad de un porciento (.5 %) en la tasa de interés puede aumentar el pago mensual de su hipoteca significativamente.
El Doctor Frank Nothaft, Vicepresidente principal & economista principal de CoreLogic, dijo esto es su último MarketPulse:
“Si usted está pensando en comprar una casa y tiene los medios financieros para hacerlo, este podría ser un buen momento para dar un vistazo a los vecindarios que le interesan. Nosotros esperamos que los precios de las casas en nuestro índice nacional subirán cerca de 4.3 % en los próximos 12 meses, y las tasas hipotecarias también parece que van a aumentar durante el próximo año”.
Si ambas predicciones de los aumentos en los precios de las casas y la tasa de interés se convierten en una realidad, las familias terminarían pagando más considerablemente para su próxima casa.
Incluso un pequeño aumento en la tasa de interés puede afectar el bienestar de su familia. Reúnase con nosotros para evaluar su capacidad de compra de la casa de sus sueños . Recuerde Nosotros (The ASSAL Team) queremos asegurarnos de que usted obtenga la tasa de interés hipotecario más bajo posible , mientras logra su meta más rápido, más fácil y con una sonrisa en su cara! Llámenos hoy mismo al 786.554.8063 o envíenos un correo electrónico a email@example.com– usted puede contar con nuestra ayuda en cada paso del camino.
Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.
Dr. Frank Nothaft, the SVP & Chief Economist for CoreLogic, had this to say in their latest Market Pulse:
“If you are thinking of buying a home and have the financial means to do so, this could be a good time to take a look at the neighborhoods you are interested in. We expect home prices in our national index to be up about 4.3% in the next 12 months, and mortgage rates are also likely to increase over the next year.”
If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.
Even a small increase in interest rate can impact your family’s wealth. Meet with us to evaluate your ability to purchase your dream home. Remember We at the ASSAL team want to make sure you get the lowest mortgage rate possible, while reaching your goal faster, easier and with a smile on your face! Give us a call today at 786.554.8063 or send us an email at firstname.lastname@example.org– you can count on our help every step of the way.
The Roads is a neighborhood of Miami in Miami-Dade County, it is a triangular area located south of SW 11th Street, between SW 12th Avenue and SW 15th Road, just west of Brickell.
The Roads is known for its old homes, historic public schools, and its tree-covered streets. The Roads is very close to Downtown and Brickell, but is a historically residential neighborhood. It is also off the normal Miami street grid, and thus all the streets in The Roads are named roads, instead of streets and avenues, as is the case in the rest of Miami. Since 1986, the Miami Roads Neighborhood Civic Association has worked on a variety of projects to support the neighborhood.
The Roads neighborhood is served by the Miami Metrorail at the Vizcaya station to the south and by the Brickell station to the north.
The Roads, originally called “Brickell Hammock” was designed, platted and developed by Mary Brickell in January 1922 days before her death. Mary Brickell had designed the Roads as a pedestrian-friendly neighborhood, with wide streets with median parkways and roundabouts with native Miami plants. Mary Brickell gave the streets, parkways, sidewalks, and electric lighting to the City of Miami in 1922. All the properties were sold in a single day on February 1, 1923.
The Roads is also an entire off-grid plan section of the city of Miami. The streets and avenues in Miami-Dade County are aligned to a grid, where streets run east-west and avenues run north-south. The roads that run from Broadway to SW 32nd Road are roughly 45 degrees out of alignment with the grid-plan. The avenues running perpendicular to these roads are also 45 degrees out of alignment with their respective avenues coming from the north. The avenues in this section run northeast-southwest rather than the standard north-south that the ones in the rest of the county follow. This causes an abrupt change in numerical designation as they cross SW 12th Avenue (SW 5th Avenue turns west and becomes SW 18th Street, SW 4th Avenue turns west and becomes SW 20th Street, SW 2nd Avenue turns west and becomes SW 22nd Street, etc.) The most well known example of this confusion is when historic Coral Way being SW 3rd Avenue, makes a 45 degree turn onto SW 22nd Street as it crosses over SW 12th Avenue.
The Roads is served by Metrobus and Trolley throughout the area, and by the Miami Metrorail at:
Brickell (SW 11th Street and SW 1st Avenue)
Vizcaya (SW 32nd Road and US1)
Metrorail has stops throughout Miami with service to Greater Miami and Miami International Airport, all Miami-Dade County bus lines, Tri-Rail and Amtrak. The main bus station in Downtown is located next to the Arsht Center at the Adrienne Arsht Center Station.
For more information about The Roads please contact me directly