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Noel Veitia

NMLS ID 277729

305-851-5225 nveitia@dgpinnacle.com

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The Cost Across Time [INFOGRAPHIC]

Some Highlights: With interest rates around 3.66%, now is a great time to look back at where they’ve been over the past few decades. Comparatively, they’re pretty low! According to Freddie Mac, rates are projected to increase to 3.9% by this time next year. The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year and $7,200 over the life of your loan. Maybe it’s time to lock in now, while rates are still historically low.

November 28th, 2019 | First Time Home Buyers, For Buyers, infographic, interest rates, Move-Up Buyers, The Cost Across Time [INFOGRAPHIC]

Forget the Price of the Home. The Cost is What Matters.

Home buying activity (demand) is up, and the number of available listings (supply) is down. When demand outpaces supply, prices appreciate. That’s why firms are beginning to increase their projections for home price appreciation going forward. As an example, CoreLogic increased their 12-month projection for home values from 4.5% to 5.6% over the last few months. The reacceleration of home values will cause some to again voice concerns about affordability. Just last week, however, First American came out with a data analysis that explains how price is not ...

November 15th, 2019 | Housing Market Updates, interest rates, Pricing, Forget the Price of the Home. The Cost is What Matters.

How to Determine If You Can Afford to Buy a Home

The gap between the increase in personal income and residential real estate prices has been used to defend the concept that we are experiencing an affordability crisis in housing today. It is true that home prices and wages are two key elements in any affordability equation. There is, however, an extremely important third component to that equation: mortgage interest rates. Mortgage interest rates have fallen by more than a full percentage point from this time last year. Today’s rate is 3.75%; it was 4.86% at this time last year. This has dramatically increased a purchaser&rsq...

November 11th, 2019 | First Time Home Buyers, For Buyers, interest rates, Move-Up Buyers, Pricing, How to Determine If You Can Afford to Buy a Home

Cómo determinar si puede comprar una casa

La brecha entre el aumento de los ingresos personales y los precios de los bienes raíces residenciales se ha utilizado para defender el concepto de que hoy estamos experimentando una crisis de asequibilidad en la vivienda.   Es cierto que los precios de las casas y los salarios son dos elementos claves en cualquier ecuación de la asequibilidad. Sin embargo, hay un tercer componente extremadamente importante en esa ecuación: la tasa de interés hipotecaria. La tasa de interés hipotecaria ha caído más de un punto porcentual con r...

November 11th, 2019 | First Time Home Buyers, For Buyers, interest rates, Move-Up Buyers, Pricing, Cómo determinar si puede comprar una casa

Home Prices Increase in Every Price Range

Price appreciation can differ depending on your price range. CoreLogic analyzed four individual home prices tiers and shares the increase in each one. CoreLogic’s Home Price Index (HPI) Report revealed, “National home prices increased 3.6% year over year in July 2019 and are forecast to increase 5.4% from July 2019 to July 2020.” They also analyzed four individual home-price tiers, showing the increase in each. Here’s the breakdown: To clarify the methodology, CoreLogic explains, “The four price tiers are based...

September 17th, 2019 | For Buyers, For Sellers, Housing Market Updates, interest rates, Pricing, Home Prices Increase in Every Price Range

How Does the Stock Market Affect Mortgage Rates?

When there are dramatic swings in the stock market, you may wonder how mortgage interest rates will be affected. What is the relationship between mortgage rates and the stock prices? Do they move together or in opposite directions?  Stocks and Mortgage Rates Both Mimic the Economy While the stock market is not directly related to mortgage rates, both are based on the basic movement of the economy.  When things are going swimmingly, both stock prices and mortgage rates tend to rise. They both generally fall when the economy is faltering. When investors are concerned about nation...

September 4th, 2019 | Interest Rates, How Does the Stock Market Affect Mortgage Rates?

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