What to Consider When Buying a Second Home | #CityFirstMortgage
Buying a second home today is more challenging due to rising property values and higher interest rates.
Decide whether the second home will be for personal use or rented, impacting financial returns significantly.
How Will 6% Mortgage Rates Affect the 2025 Market? | #CityFirstMortgage
Experts predict 3 Fed rate cuts in 2024, with more cuts in 2025, potentially lowering rates by 1.5 percentage points. Experts predict mortgage rates could decrease to 6% by the end of 2025.
Why Is Fall the Perfect Season for Homebuyers? | #CityFirstMortgage
Fall sees fewer homebuyers, reducing competition and easing the purchasing process.
Home prices often drop in the fall, benefiting buyers with potential savings.
5 ways to prepare for mortgage interest rate cuts now
Mortgage interest rates are declining, with expectations for further cuts as the Federal Reserve prepares to lower its federal funds rate. Prospective homebuyers should take strategic steps now to prepare for these changes. Key actions include shopping for lenders to find the best rates, boosting credit scores, exploring alternative mortgage options, accurately calculating budgets, and getting pre-qualified for loans. These preparations can enhance buyers' chances of success in a competitive market as rates continue to drop.
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Tips for First-Time Buyers: Understanding the Condo Market | #CityFirstMortgage
First-time buyers face challenges, including navigating documents and understanding condominium or strata living complexities.Condominiums offer affordability, amenities, and convenience, but rules, expenses, and disputes can complicate ownership.
Falling Mortgage Rates: Impact on California Homeowners | #CityFirstMortgage
The Fed dictates interest rates and continues to indicate that a potential rate cut is on the horizon.
Lower interest rates can reduce monthly mortgage payments, saving money for California’s homebuyers and homeowners.