My Predictions for the 2017 Real Estate Market
As is my annual tradition, I am making some predictions about what we'll see in the Harrisonburg and Rockingham County real estate market in 2017. Overall, I am…
How do higher mortgage interest rates affect monthly payments?
Just after the election, mortgage interest rates started rising. They started around 3.5%, and have since climbed to somewhere between 4.25% and 4.3%. It seems unlikely…
Home Sales Surge, Prices Rise, Inventory Drops in November 2016
Learn more about this month's featured property: 130 Bedford Place I just published my monthly report on the Harrisonburg and Rockingham County real estate market. Jump…
Recent Rise in Mortgage Rates is a Small Change in a Historical Context
Mortgage interest rates jumped nearly 0.5% over the past week or two, but they are still below 4% given the current average of 3.94% -- and if we look at that rate of…
Mortgage Interest Rates Jump Nearly 0.5% in a Week
Stay tuned for where interest rates go next week -- but following the election, they jumped nearly 0.5% up to almost 4%. This takes us back to where we were nearly a year…
Does buying or leasing make more sense with a two year time frame?
Does buying or leasing make more sense with a two year time frame? It depends on the price range, how much of a down payment you are making, whether you are willing to…
Mortgage Interest Rates Edge Up, Barely
Mortgage interest rates edged up, barely, this week to an average of 3.52%. That pushes us above the 3.5% mark, after several months mostly below that mark. Let's look at…
Mortgage Interest Rates Still Historically Low, For Now
Mortgage interest rates were historically low a year ago, though they around 3.86%. Now, they are REALLY low, with the current average of 3.48%. But at the end of the…
Mortgage Interest Rates Continue to Hover at Absurdly Low Levels
Maybe mortgage interest rates will never rise??? I have been thinking they would rise for quite a while now (years) but they just keep getting lower. Today's average rate…
Housing costs stay relatively level despite increasing home values
How much does it cost on a monthly basis to buy the median price home in our area, assuming 80% financing? Today, that adds up to an $681 monthly payment -- which is…
Current mortgage rates still WELL below 12 month average
If I said, a year ago, that mortgage interest rates were going to rise soon --- I was WRONG!!! Current mortgage interest rates are just below 3.5%, and while I am still…
Mortgage interest rates continue to fall, now almost to 3.5%
Well -- there has never been a better time to lock in an interest rate this year than RIGHT NOW! The average 30-year fixed mortgage interest rate has continued to drop…