My Predictions for the Harrisonburg Area Real Estate Market in 2016
Last year (2015) was a solid year for the Harrisonburg and Rockingham County residential real estate market, with a 3% increase in the pace of home sales. This level of…
After almost ten years, the Fed raised rates, and wait until you see what happened to mortgage interest rates
So, after almost a decade, the Fed raised rates. What happened to mortgage interest rates? Per the graph above, not much has happened thus far. Rates have edged up a bit…
Will mortgage interest rates shoot skyward?
The Federal Reserve announced on Wednesday that it will raise its key interest rate for the first time in almost a decade. This is expected to lead to gradual increases…
30 Year Fixed Mortgage Interest Rates Stay Put Between 3.75% and 4% for nearly all of 2015
Who would have thunk it? Seriously!?! When interest rates started rising from 3.65% in April up to 4.04% in June, it seemed that maybe, just maybe, interest rates were…
Understanding your mortgage quote (Loan Estimate)
If you are talking to a lender about a potential mortgage on a home you might purchase, you are likely to receive a "Loan Estimate", the first page of which is shown…
Mortgage Interest Rates Were Low Last Year, Even Lower This Year
We might as well call it the year of the sub-4% mortgage interest rate. Other than a short time in June/July, we've seen sub-4% mortgage interest rates all year long! For…
Running the numbers of selling and buying
If you're selling your current home to buy a new one, you may be wondering.... How much will my monthly payment increase? How much will it cost me to make this…
Mortgage Interest Rates Remain Low
For years now I have been thinking (and sometimes saying) that mortgage interest rates were certain to rose. From time to time they would rise, a bit, and then drop back…
How much can you spend versus how much you want to spend
Most folks who buy a home this year will not be paying cash. An important early stage of the home buying process is to talk to a lender to become pre-approved for a…
Foreclosures Continue to Decline in 2015
After peaking in 2010 at 270 completed foreclosure sales in Harrisonburg and Rockingham County, we have seen declines in nearly every year since then -- down to a total…
Fear not, folks, mortgage interest rates are still below four percent
For the past few years everyone has been thinking, saying, predicting that interest rates would rise. We're going to get back to 6% -- maybe higher. Or, maybe not. Taking…
We should talk through the numbers
There are a lot of numbers to calculate, understand and discuss if you are considering selling your home -- especially if it will involve then purchasing a new home…