Millennial Home Buyers | Biggs Realty Blog

Tuesday, June 21, 2022 / by Kenneth Brands

The Average Homeowner Gained $64K in Equity over the Past Year

If you own a home, your net worth likely just got a big boost thanks to rising home equity. Equity is the current value of your home minus what you owe on the loan. And today, based on recent home price appreciation, you’re building that equity far faster than you may expect – here’s how it works.

Because there’s an ongoing imbalance between the number of homes available for sale and the number of buyers looking to make a purchase, home prices are on the rise. That means your home is worth more in today’s market because it’s in high demand. As Patrick Dodd, President and CEO of CoreLogic, explains:

“Price growth is the key ingredient for the creation of home equity wealth. . . . This has led to the largest one-year gain in average home equity wealth for owners. . . .”
Basically, because your home value has likely climbed so much, your equity has increased too. According to the latest Homeowne ...

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Tuesday, February 8, 2022 / by Kenneth Brands

Will Student Loans Delay Your Dream Of Homeownership?

If you’re looking to buy a home, you may be wondering how your student loan debt could impact those plans. Do you have to wait until you’ve paid off your student loans before you can buy your first home? Or could you qualify for a home loan with that debt?

To give you the answers you’re searching for, let’s take a look at what recent data shows. That way, you know what to expect and what to do next to achieve your dream of becoming a homeowner. While everyone’s situation is unique, your goal may be more within your reach than you realize.
Do you have to delay your plans because of student loans?
If you’re worried your student loans mean you have to put your homeownership goals on hold, you’re not alone. In fact, many first-time buyers believe they have to delay their plans. According to data from the National Association of Realtors (NAR):
“When asked specifically about purcha ...

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Friday, November 26, 2021 / by Kenneth Brands

How Will Foreclosures and Rising Mortgage Rates Impact The Dallas-Fort Worth Real Estate Market?

With the forebearance program coming to an end and mortgage rates beginning to rise, home buyers and home sellers are turning to local real estate experts to understand how this will impact the Dallas-Fort Worth Real Estate Market.

With all of this uncertainty, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, I expect we'll continue to see a rash of troublesome headlines over the next few months. To make sure you aren’t paralyzed by a headline, turn to reliable resources like Biggs Realty for a look at what to expect from the housing market in 2022.
There are already alarmist headlines starting to appear. Here are two recent topics you may have seen in the news.
1. Foreclosures Are Spiking Today
There are a number of headlines circulating that call out the rising foreclosures in today’s real estate market. Those stories focus on an overly narrow view on that topic: the current vo ...

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Wednesday, November 24, 2021 / by Kenneth Brands

How Will Rising Mortgage Rates Impact Home Buyers In Dallas-Fort Worth?

Last week, the average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, and experts project rates will continue rising through 2022:

“The 30-year fixed-rate mortgage was 2.9% in the third quarter of 2021. We forecast mortgage rates to increase slightly through the remainder of the year and reach 3.0%, rising to 3.5% for full year 2022.”
If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise.
Taking Time Off Can Be Costly
Mortgage rates play a significant role in your home search. As rates go up, your monthly mortgage payment increases if you’re buying a home, directly affecting how much you can afford. And even the smallest increase can have a large impact on your monthly payment (see chart below):With mortgage rates on the rise, you’ve likely seen your purchasing power impacted already. Instead of waiting and hoping rates will fa ...

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Monday, November 8, 2021 / by Kenneth Brands

North Texas Mortgage Rates Will Continue To Rise

Experts Project That Mortgage Rates Will Continue Rising In 2022
Mortgage rates are one of several factors that impact how much you can afford if you’re buying a home. When rates are low, they help you get more house for your money. Within the last year, mortgage rates have hit the lowest point ever recorded, and they’ve hovered in the historic-low territory. But even over the past few weeks, rates have started to rise. This past week, the average 30-year fixed rate was 3.14%.
What does this mean if you’re thinking about making a move? Waiting until next year will cost you more in the long run. Here’s a look at what several experts project for mortgage rates going into 2022.
Freddie Mac:
“The average 30-year fixed-rate mortgage (FRM) is expected to be 3.0 percent in?2021 and 3.5 percent in 2022.”
Doug Duncan, Senior VP & Chief Economist, Fannie Mae:
“Right now, we forecast mortgage rates to ...

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Millennial Home Buyers | Biggs Realty Blog

The Average Homeowner Gained $64K in Equity over the Past Year

Will Student Loans Delay Your Dream Of Homeownership?

How Will Foreclosures and Rising Mortgage Rates Impact The Dallas-Fort Worth Real Estate Market?

How Will Rising Mortgage Rates Impact Home Buyers In Dallas-Fort Worth?

North Texas Mortgage Rates Will Continue To Rise

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Millennial Home Buyers | Biggs Realty Blog

The Average Homeowner Gained $64K in Equity over the Past Year

Will Student Loans Delay Your Dream Of Homeownership?

How Will Foreclosures and Rising Mortgage Rates Impact The Dallas-Fort Worth Real Estate Market?

How Will Rising Mortgage Rates Impact Home Buyers In Dallas-Fort Worth?

North Texas Mortgage Rates Will Continue To Rise

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