1. Kitchen Remodeling: The heart of any home, the kitchen, is often considered the most critical area to invest in for a high ROI. A well-designed and modern kitchen can significantly boost your home’s value. According to Remodeling Magazine, a minor kitchen remodel has an average ROI of 72.2%, while a major kitchen remodel has a respectable ROI of 54.9%. Upgrading countertops, cabinets, appliances, and fixtures can revitalize your kitchen and attract potential buyers.

2. Bathroom Renovation: A well-appointed bathroom is another renovation that yields a high return on investment. Homebuyers are often attracted to updated bathrooms with modern fixtures and amenities. According to the same Remodeling Magazine report, a midrange bathroom remodel has an average ROI of 57.1%, while an upscale bathroom remodel has an ROI of 49%. Focusing on enhancements to functionality, aesthetics, and energy efficiency of your bathroom will maximize appeal.
3. Outdoor Improvements: Curb appeal plays a crucial role in creating a favorable first impression for potential buyers. Investing in outdoor improvements can greatly enhance the value of your home. Upgrading your landscaping, adding a deck or patio, or installing outdoor lighting can make your property more appealing. The National Association of Realtors (NAR) states that a well-maintained landscape design can offer an ROI of 100% to 200%.

4. Energy-Efficient Upgrades: In today’s environmentally conscious world, energy efficiency is highly sought after. Upgrading your home with energy-efficient features not only reduces utility bills but also increases its marketability. Installing energy-efficient windows, upgrading insulation, and investing in high-efficiency HVAC systems can yield substantial long-term savings. According to the U.S. Department of Energy, energy-efficient upgrades can save homeowners up to 30% on annual energy costs.

5. Basement Renovation: Transforming an unfinished or underutilized basement into a functional living space can be a wise investment. Adding extra living space, such as a bedroom, home office, or entertainment area, expands the usable square footage of your home and increases its value. The ROI for a basement renovation can vary depending on the region and the extent of the project, but it generally offers a good return on investment.  For those without a basement or in areas of the country where basements are uncommon, other space increases can offer a similar ROI.  Think attic conversions, garage conversions, or even a room addition if your home has sufficient space.

When considering home renovations, it’s important to balance personal preferences with potential ROI. While over time styles and preferences will vary, kitchen remodeling, bathroom renovations, outdoor improvements, energy-efficient upgrades, and basement renovations have consistently shown a solid return on investment.  Before undertaking any major renovation, it’s a good idea to consult with a real estate professional (we know some great ones!) to discuss how renovations could effect the marketability of your home.  In addition, you’ll want to speak with a contractor to understand the project details and costs so you can decide on the best ways to invest in your home.

Did you know?  MasonMac offers renovation financing through our Conventional renovation loan and the FHA 203k program.  We also have HELOCs to access home equity to complete your home projects.  Questions?  You can ask an expert here!

The post The Home Renovations With The Highest Return On Investment appeared first on Mason-McDuffie Mortgage Corporation.

Residents in the Hoosier State now have access to MasonMac’s full suite of products, including conventional mortgage loans, FHA loans, first time buyer products, nonQM loans, VA mortgage loans, and Jumbo mortgage loans.

MasonMac has several Indiana loan officers ready to serve the state’s borrowers, and is focused on customers financing residential real estate.  With products for every demographic from first time home buyers to seasoned investors, MasonMac offers Indiana residents purchase money, refinance, renovation, and equity loan products to meet all of their mortgage needs.
Indiana will now have access to an industry leading customer experience, and as a platform for experienced loan officers, can service consumers and the real estate industry with competitive rates, a wide variety of loan products, and lightning fast closings with the QuickMortgage digital loan process.
With so many loan options, the team at MasonMac is excited for the opportunity to serve Indiana home owners, home buyers, and real estate agents in the state!

The post Indiana Mortgage Loans appeared first on Mason-McDuffie Mortgage Corporation.

This question is one of the most common questions we see from consumers, investors, real estate agents, and many others with interest in the real estate market.  The answer is ‘yes’.  But it also depends on your specific situation, what’s important to you, and where you are financially.

The reason the question “is it a good time to buy a house” comes up frequently today is because interest rates have risen substantially year over year, making the monthly payment rise for many people considering a home purchase.  With these higher payments, many are wondering if it’s a bad time to buy a home, but it’s important to remember that with increasing rates has come a softening market – meaning buyer’s today are seeing both lower median home prices and reduced competition, allowing for seller concessions that weren’t widely available during the market craze of 2020-2021.  So while payments might be higher today, total price tags may also be lower, allowing buyers to keep more money in the bank at closing time.

Median home prices in the US have come down from their 2021 highs

The other consideration many people have when asking ‘is it a good time to buy a house’ is what will happen with home values in the future.  The real estate crash of 2010 is still fresh in a lot of minds, but it’s important to look at the economics of today’s market and compare them to the crash to see what’s likely to happen in the coming months.

One of the important considerations is one of the foundational aspects of economics and pricing – supply & demand.  If you consider the US population has continued to increase and believe that means more people will require housing, the next place to look for a clue on where home values will go is to housing supply.

Housing inventory is far below the 2007 market peak

In the image below you can see that housing supply is far below the supply of homes that was on the market in 2007 preceding the crash in home values.  While low inventory isn’t a guarantee of home price growth, in terms of supply and demand, the lack of inventory for a growing population should provide some support for home values and continued appreciation, even if that appreciation is slower than the abnormally high appreciation rates home owners saw in 2020 and 2021.  It’s also important to note that real estate is very local, and some markets have more inventory than others, along with varying populations, so examining these numbers in your local market is important!

So interest rates are up, but it appears home values have some support.  Interest rates also ebb and flow, so while you should never buy a home based on the hope that your payment will eventually get cheaper, that possibility does exist!  If rates dip, refinance possibilities may exist for home owners to reduce their monthly mortgage payment, but this is no guarantee – it would just be a cherry on top for today’s would be home buyers.  As you can see below, home prices have historically climbed on a consistent basis outside of the great recession over a decade ago, and for that reason home ownership has been a key metric in helping Americans establish wealth and grow their net worth.  For many, the alternative (renting) doesn’t offer that same level of financial security.

Home values have climbed since 1975

So while we’re a mortgage company and home ownership is in our interest (pun intended), a look at the data supports home ownership being a great idea for those who can afford their monthly payment, and those who have the financial stability to consistently make a mortgage payment.  The lack of inventory nationwide is good support for home values, and rising rates have diminished some demand, giving buyers more power and control in the purchase process than they’ve had in recent years.

The post Is It a Good Time to Buy a House? appeared first on Mason-McDuffie Mortgage Corporation.

The most recent rate hike brings the Fed’s target funds rate (the rate which banks borrower from the Fed and each other) to a range of 3-3.25%, a full 3% higher than 0-.25% range we saw prior to inflation kicking in late last year.

This also moves the “prime rate” (a very important metric to the overall economy) up to 6.25%, also 3% higher than last year’s lows as the prime rate, unlike mortgage rates, does more in direct proportion to the fed funds rate.

What does this mean for mortgages and home financing?

The Fed’s moves are closely watched by mortgage bond traders (and mortgage bonds, or mortgage backed securities, are what directly influence our rates), and just as important as the Fed’s move on rates is their commentary after announcing their rate decision.  The market reaction to this Fed move was mortgage interest rates moving initially higher (opposite to the market reaction of the last Fed rate hike of the same amount back in June!), as the market’s seem to doubt the Fed’s ability to reign in stubborn inflation.

Historically, though, Fed funds rate increases are usually followed (sometimes quickly) by recession, which historically has brought rates back down to earth.  While no one has a crystal ball, with pending recession grabbing more headlines, it seems like history may repeat itself, but that remains to be seen as the Fed’s rate hike will typically take a few months to be absorbed and show it’s impacts in the broader economy.

As the Fed funds rate increases, recession typically follows (indicated by the gray areas)

What Does The Fed Rate Hike Mean For the Broader Economy?

With a Fed rate hike, the ‘prime’ rate increases, and many household financial products are tied to prime, most often credit cards and home equity lines of credit (HELOCs).  So these products will get more expensive and will likely be the biggest direct impact households will immediately see & feel.

Higher borrower costs tend to mean less borrowing and a slowdown to the broader economy, so over time the Fed rate hikes should reduce inflation, which is a good thing!  The negative side of the equation is that while reducing inflation, the economy usually slows and often ends up in recession.  With inflation hitting so many households in the wallet this year, though, the Fed’s primary concern is to reign in inflation and lower costs for US households.  If their actions do cause a recession and a spike in unemployment numbers, their focus will shift, but for now, we can expect the Fed funds rate to continue to increase and remain at higher levels until we start seeing inflation numbers come down.

Is Housing a Concern?

Housing is certainly seeing a shift in 2022 from the insanity of quickly appreciating values in 2020-2021, but inventory is still below historical levels, so the market has some room to absorb reduced demand without a huge impact.  Again, while no one has a crystal ball, the numbers seem to support strength in the housing market, even if we do see a slowing in appreciation or some slight depreciation in some markets.  The greater concern for the housing market is interest rates, which have hurt affordability in housing, as even with rising prices, low rates can keep housing payments down.  If we see rates drop as inflation comes down, it could bring more home buyers to market.

The Fed has states they plan to continue to raise rates until inflation shows sustained improvements, and they have made fighting inflation their primary focus for the short term.  What the overall impacts will be and the direction of the economy as a result of their actions remain to be seen, we’ll be sure to provide up to date info on the state of housing, rates, and how the Fed’s actions are impacting our markets.

The post September 21, 2022 Fed Rate Hike appeared first on Mason-McDuffie Mortgage Corporation.

For mortgage rates

There’s a common misconception that the Fed raising rates with a Fed rate hike leads to higher mortgage rates, but it’s important to understand what drives mortgage rates.  The price of mortgage backed securities (MBS) are the only thing that directly move mortgage rates, and MBS often see an improvement (improving rates, aka bringing them down) when there’s a Fed rate hike.  Today was no exception.  The reason for this is that the Fed rate hike is a measure implemented to slow down the economy and to fight inflation.  High inflation is a major cause of increasing mortgage rates (and is one of a few reasons we’ve seen mortgage rates go up so much in 2022!), so the Fed’s actions should theoretically reduce inflation, helping mortgage bonds, and thus lowering mortgage rates.

In fact, since the Fed’s last rate hike in June, mortgage bonds have improved substantially, and mortgage rates have come down from their highs.

For other debts

Some debts are directly impacted by a Fed rate hike.  Home equity lines of credit (HELOCs), for example, are often tied to the prime rate, which moves in step with the Fed funds rate.  Because the prime rate goes up and down with each Fed rate hike, HELOC rates will move as well, and for that reason, rates on HELOCs will immediately go higher on the Fed announcement.  Other debts tied to the prime rate will do the same.  For this reason, consumers can expect their credit card payments to increase as most credit cards have their interest rates tied to prime.

For the broader economy

Fed rate hikes historically precede periods of recession.  The Fed’s action reduces inflation, but it also makes borrowing costs of financial institutions more expensive.  This tends to slow down borrowing and spending, which in turn slows down the economy.  In today’s marketplace the Fed has made it clear that fighting inflation is their #1 objecting, and the broader economy, while of concern, is being focused on less than reigning in stubborn, persistent inflation that was once thought to be “transitory”.

The Fed rate hike has many implications, but it’s very important to know that the Fed is NOT raising mortgage rates, and in fact, their actions typically lead to lower rates.  That’s important to understand today, because with mortgage rates spiking in early 2022, we’ve seen an increase in inventory on the market as many buyers have been forced to the sidelines.  Interest rates coming down could present a great opportunity for many buyers who now have less competition in the market and more inventory to choose from.  The Fed has also made it clear that their expectation is for more rate hikes throughout 2022 and beyond, so if the markets behave as expected, we may see some great opportunities with lower rates in the mortgage space in the months ahead.

The post The Latest Fed Rate Hike appeared first on Mason-McDuffie Mortgage Corporation.

There’s a lot of economic jargon being tossed around in headlines these days, and one of the hot topics out there is inflation.  To start, it’s important to understand what inflation is.  When the value of a currency diminishes, the result is inflation – basically, you get less for the same or more.  The cost of goods and services increase, costing more money for the same (or worse, less) products or services.  There are many causes of inflation, and it’s a pretty complicated economic phenomena that has caused hardship for many people, and in the worst cases of hyperinflation, has even destroyed currencies throughout history.  The biggest question on many people’s minds today is ‘will inflation go down?’, often followed by ‘when?’.

Will Inflation Go Down?

Inflation is typically analyzed within 2 economic reports – the CPI (consumer price index) and PPI (producer price index).  Both gauge inflation, but PPI excludes volatile energy and food prices.  Each report is analyzed for month-over-month changes, and these month-over-month changes are added together over a 12 months cycle to determine an annual rate, which is usually the metric shared when discussing “inflation”.  For example, if we started with 0% inflation, and each month for the next 12 months, there was a monthly increase of 1%, inflation at the end of that year would be 12%.  This is important because current inflation is important, but it’s equally important to recall the months current readings are being compared to (each month replaces the same month’s reading from the previous year).

It’s important to understand how inflation is calculated to have an idea of when it may go down.  For example, summer of 2021 saw a small dip in inflation, and with inflation currently on the higher end of the spectrum, lower 2021 numbers will likely be replaced by higher numbers for the same months in 2022, making it unlikely that inflation will see a dip this summer.  However, because of the Fed’s rate hikes (an attempt to reign in inflation by making borrowing more expensive) and the fact that inflation was high in the fall months of 2021, it’s very possible we’ll see inflation numbers start to get some relief in the fall.  You can see how inflation has ebbed and flowed in the chart below, so when you see inflation numbers in future months, you can see the month’s being replaced, too, to determine overall inflation.

Will inflation go down? We’ll need to see lower month over month numbers than last year to see overall inflation dip, and summer 2021 saw relatively low inflation compared to fall 21′

This helps to answer the question “when” inflation might go down.  Assuming the Fed can reign in some inflation with their rate hike plan, and also assuming supply chains begin to normalize, you can see above inflation numbers were at a recent low in July-August 2021, so while month-over-month readings in 2022 are replacing these relatively low numbers, year over year inflation is likely to remain high.  Once new numbers begin replacing the higher numbers of late-2021 and early-2022, that year-over-year number, or the annual inflation often presented in headlines, may see some relief.

How does this relate to your mortgage or home buying plans?

A phrase we like to use is “you date your mortgage, you marry your house”.  Since inflation has a relationship with mortgage rates (all else being equal, higher inflation = higher mortgage rates and vice versa), it means mortgage rates may be set to remain on the higher end this summer, with some relief in the not so distant future!  For home buyers, higher rates have pushed some buyers out of the market, and with increases in home inventory in many markets, there may be a great buying opportunity.  And while no one wants a higher rate, if you consider most higher rates equate to higher payments in the ‘hundreds’ of dollars, the reduction in buyer competition and increases in home inventory may mean offers on homes don’t need to be ‘tens of thousands’ over list price as we’ve seen in many markets over the past 2 years.  And if & when rates dip, today’s home buyers may have a refinance opportunity to reduce their payment.

For anyone trying to time the market, it’s a tough task – when we look at charts, data, and history, it’s easy enough to make predictions, but there is still uncertainty over the supply chain, COVID-related issues in many export-heavy countries, and geopolitical issues that are tough to predict.  Our advice is that if you’d like to buy a home and you can afford the payment, it’s a good time to buy!  We recommend contacting a MasonMac Loan Officer before you begin your home search so you’re prepared and informed of the current market, and can be in the best possible position to begin to enjoy the benefits of home ownership!

The post Will Inflation Go Down? appeared first on Mason-McDuffie Mortgage Corporation.

In today’s housing market inventory is low and buyer demand is high.  In such a market, many buyers need to get creative in structuring their offer on a home, and many sellers (future buyers) need to consider the fact that they, too, will soon encounter the same challenges that buyers vying for their home face.  One common consideration in today’s seller-friendly market is a rent back.  Simply put, a rent back is an offer that allows a seller to remain in their home after settlement on their property, as renters, for an agreed upon amount of time.  This can be a huge bonus for sellers, as it allows them to obtain the cash for their home sale to complete the purchase of another property.  Often, this gives sellers the flexibility needed to find their next home without the stress of needing to leave their home immediately upon settlement.  For buyers, a rent back is a beneficial way to offer a seller some benefit, while reaping benefits of their own!  Even while not moving in, a rent back allows a buyer to begin enjoying the perks of home ownership – in terms of tax perks, appreciation, and amortization – prior to actually moving in.  A rent back, like most aspects of home buying, some with some perks, and some draw backs.

The perks of a rent back

A rent back can be a big deal to a seller.  It allows them time to find a new home and orchestrate a move without having to worry about the stresses that come with a home sale – staging, keeping things around the house perfect for potential buyers, and avoid the time crunch that can come with simultaneously trying to sell and buy at the exact same time.  For buyers, they can officially take ownership of a property, enjoying perks like home appreciation, tax write offs, and paying off their mortgage without having to wait for an extended settlement.  In a time of rising rates, it also may help lock in better financing terms instead of paying extra for an extended rate lock or leaving fate in the hands of the markets.  All other things being equal, a rent back option can offer the flexibility needed to make an offer stand out and get accepted over offers that don’t include this option.  Another perk is that buyers can be compensated for the time a seller is renting from them.  While in a competitive market it’s not uncommon to see “Free rent back” as part of an offer, buyers have the option of demanding rent for the time they’ll be out of their new home.  Since their is a “gap month” when getting a mortgage (for example, if you settle on a home at the end of April, the first mortgage payment would be due not in May, but in June), this can help a buyer recoup some money spent on their purchase and get their finances in order.

Drawbacks?

A rent back, as with all things, doesn’t come without risk.  During a rent back, risks are assumed similar to any landlord-tenant relationship.  Since the sellers still live in the property, the potential for property damage, refusal to leave the property at the end of the rent back period, and other risks can still be present.  If traditional mortgage financing is being used by a buyer, most loans will require a buyer to take occupancy of an owner-occupied home within 60 days of settlement as well, so while a rent back can offer some flexibility, there’s still a deadline on when the move into a new home needs to take place without breaching the financing contract.

Another thing to consider is that toward the end of a rent back, a new owner will need to do a walk through and ensure the property is left in as-agreed-upon shape by the seller/now tenant.  The assistance and obligation of a real estate agent may or may not continue through the rent back period, so a new owner should be aware of their rights, expectations of the seller/tenant, and execution of all terms of a rent back.

Consider your market and your options

If you’re a buyer in today’s competitive landscape, we recommend having professional representation from a real estate agent to help you best structure an offer in your market, but a rent back is certainly something worth considering if you have the flexibility available to you.  Price is certainly important, but taking into consideration a seller’s circumstances and structuring an offer that’s competitive in price, but also provides some additional conveniences and stress relief for a seller can help your offer stand out amongst others that don’t offer the same considerations.  Every market is different, some consult with your agent to see if a rent back is something to consider in an offer, but make sure you’re aware of both the potential benefits and drawbacks of such an arrangement.

The post What is a Rent Back? appeared first on Mason-McDuffie Mortgage Corporation.

Yesterday, March 16, 2022, was the date of the first Fed rate hike in 3 years, and is the first of an expected 7 total for the year 2022.  This rate hike is an effort to fight off the inflation once deemed “transitory” but has proven to be a larger than initially anticipated problem.  There is a lot of confusion around the Fed’s rate decisions and movements, because their moves do have a direct impact on some loan products, with more indirect impacts in other areas.  One area that has an indirect impact is mortgage rates.

First, it’s important to understand what does have a direct impact on mortgage rates.  The sale of mortgage backed securities, or MBS (investment vehicles that include many loans bundled together), are what drive mortgage rates up and down.  When the price of MBS increases, mortgage rates associated with those securities go down.  When the price of MBS declines, interest rates go up (rates rise to attract more investment money).  The Federal Funds Rate, or the Fed rate, is simply the rate set by the Fed at which banks borrower from the Fed.  It is not a rate paid by consumers.

Some things impacted directly by the Fed funds rate are financial products tied to the ‘prime rate’ – since the prime rate correlates with the Fed funds rate, when the Fed makes rate decisions, it has a direct impact on products like Home Equity Lines of Credit (HELOCs) and credit cards, since both are tied to the prime rate.  Mortgage rates, however, being driven by MBS, are influenced by a variety of factors.  One of the biggest impacts to mortgage rates comes from inflation.  In an inflationary environment, we see interest rates increase (as we’ve seen since the start of 2022).  Since the Fed increases rates as a way to fight inflation, it frequently occurs that when the Fed raises their funds rate, mortgage rates actually go down as an immediate result.

With the Fed funds rate increasing, money becomes more expensive for banks, and the impact is often felt in market liquidity.  Due to a variety of reasons, a Fed rate hike is often a precursor to a recessionary environment, another financial environment that is usually tied to a reduction in mortgage rates.  So often, while the impact is not directly related, when the Fed raises the Fed funds rate, mortgage rates often trend downward.  You can see in this chart that after the Fed has increased the Fed funds rate historically, it’s generally been followed by a dip in 30 year fixed mortgage rates, and many times has also been a precursor for recession.

When the Fed raises the Fedral funds rate, we often see mortgage rates go down

There are many factors that influence mortgage rates, and while the Fed funds rate direction has an indirect impact, it is only a piece of the puzzle when it comes to the direction of rates short- and long-term.  While it’s a near certainty that rates on things like HELOCs and credit card rates will increase in 2022 along with the Fed funds rate, the direction of mortgage rates will be subject to many other factors, including recession numbers, the overall economic picture, geopolitical affairs, and other markets (such as the stock market) competing for investor dollars.

Curious about where rates currently sit and what options may exist for your mortgage?  Reach out to your MasonMac loan officer today for up to date information on current rates!

The post What the Fed Rate Hike Means for My Mortgage appeared first on Mason-McDuffie Mortgage Corporation.

So let’s look at an example.  In 2006, we’ll take a home worth $300,000.

Price: $300,000
Rate: 6%
Monthly Payment: $1,800

Household income: $6,000/month
% of monthly income that goes to the mortgage payment: 30% 

Now let’s look at that same home in 2021

Price: $423,000 (up 41%)
Rate: 3%
Monthly payment: $1,783

Household income: $9,300 (up on average 55% since 2006)
% of monthly income that goes to the mortgage payment: 19%
These are the averages nationwide, and of course numbers will be different for every person, situation, and things vary by region, but on average, the market is about 11% more affordable today than it was in 2006.

Further, housing still has room to go – with supply lagging far behind demand and a generation of first time buyers coming of age, nearly all forecasts point to further home appreciation.  Add in supply-chain issues, inflation, and many other metrics and signs point to affordable housing being a very realistic thing.  That means today is a great time to buy, despite steep competition and high price tags.  To see what options you have in your area, you can contact your MasonMac loan officer, or contact us with questions by asking an expert here!

The post Is Affordable Housing Still Possible? appeared first on Mason-McDuffie Mortgage Corporation.

With the final quarter of 2021 under way, we expect to see a lot of forecasts and announcements around changes as we head into another new year.  Over the next month, 2022 loan limits will be announced, lenders will begin to make a final push to finalize their loans needing to close before year’s end, and planning and speculation for the new year will begin.  Much of that speculation and forecasting is already underway.

One forecast that is consistent across many economic experts is one showing home appreciation forecast to increase through 2022.  With 2021 being a tremendous year for appreciation and supply & demand metrics out of whack and heavily favoring sellers in most markets, it’s no surprise appreciation is expected to continue.  With many markets in 2021 seeing nearly 20% appreciation rates, 2022 is expected to be another big year, with forecasts coming in from Goldman Sachs with an expectation of 16% appreciation.  With the median US home price around $300,000, that would mean purchasing a home at $300k today would have a home worth $348,000 at the end of 2022!

Not all forecasts are quite as optimistic though, with Zillow’s forecast model predicting a jump of 11%, and Corelogic much lower at 2.2%.  It should be noted though, that Corelogic has pretty consistently missed the market on home value forecasts, actually forecasting a drop in home values for 2021.  A few other economic hubs have forecasts in between Zillow & Corelogic’s guesses.  Bottom line, though, is that just about everyone in economic circles believes home prices will continue to rise in the new year.

What Does This Mean For You?

If you’re a homeowner, it means you’ll enjoy a nice bump to your home equity position and have some options if you need to access home equity for things like renovations or to pay off other outstanding debt.  If you’ve recently purchased and have PMI, it may also mean you’ll have an opportunity to reduce your PMI or get rid of it altogether should your home appreciate enough!

If you’re a potential home buyer, it means that acting sooner rather than later is in your best interest.  Homes will likely be more expensive as the months go on, and with supply chain troubles still occurring, odds are that there will not be nearly enough supply of new homes coming to meet current demand.  This could mean another year of limited inventory and competitive situations, but the upside is that once you own, the appreciation begins to work for you, and no longer against you.  With rates on mortgage loans also expected to rise in 2022 (the MBA has forecast that rates will approach 4% in the new year), making a purchase with rates still near historic lows and with values where they sit currently, savings could be substantial for those who buy early in the year rather than waiting.

How We Can Help You

At MasonMac, we’ve invested in modern tools and have access to data nationwide, so we can look at data down to the zip code to provide you with solid advice and show you what home values are likely to do in a specific area.  We also have no- and low-down payment mortgage options so that even while home values climb, we can offer loan products that don’t require breaking the bank to get into a new home.  With tools like our “cost of waiting”, “buying power”, “rent V buy”, and “bid over ask” platforms, we can show you how to be a savvy buyer and structure a great offer to increase your odds of getting your home in a competitive situation.  And with full underwriting approval available before you find a home, you can rest assured you’re in the best possible position to become a home owner.

How else can we help you?  Contact us today with any questions, or if you’d like to see market data for your area (or any area in the US!) or be connected with a loan officer that can guide you down the path to home ownership.  In 2022, owning a home is forecast to be solid ground financially, and will be another year of proving that your financial security begins at home!

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