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There’s great news for homebuyers and homeowners alike—mortgage rates have dropped to their lowest level this year. According to the latest report from Freddie Mac, the average 30-year fixed rate has fallen to 6.19%, down from 6.27% just a week earlier. It’s a welcome shift that’s sparking new energy in the housing market and offering relief to borrowers who’ve been waiting for the right time to act. This decline follows a dip in 10-year Treasury yields, a major factor in determining mortgage rates. With economic uncertainty surrounding the government shutdown and major corporate bankruptcies, bond yields have eased, giving rates room to move lower. Freddie Mac’s chief economist, Sam Khater, noted that rates are now nearly a full percentage point below where they started in early 2025 — a significant…

Buying a home is one of the biggest milestones in life, and choosing the right loan can make all the difference. Two of the most popular options for buyers today are FHA loans and Conventional loans. Each has its own benefits, and understanding them can help you find the perfect fit for your budget and goals. FHA loans, backed by the Federal Housing Administration, are designed to make homeownership accessible to more people. They allow lower down payments (as little as 3.5%) and have more flexible credit requirements. This makes FHA loans ideal for first-time homebuyers or those who may have a lower credit score but steady income. You’ll also pay mortgage insurance premiums, which help protect lenders but slightly increase monthly costs. Conventional loans, on the other hand, are…

When buying a home, most people focus on their mortgage rate, down payment, and monthly budget. But one often-overlooked step that can make or break your investment is the appraisal. A strong appraisal not only confirms the home’s value but also protects you from overpaying in a competitive market. Appraisals are performed by licensed professionals who assess a property’s worth by looking at its condition, location, and comparable recent sales. Lenders use this figure to ensure the loan amount is appropriate. If the appraisal comes in higher than expected, you immediately gain equity. If it’s lower, it opens the door to negotiating a better price with the seller. Beyond the loan process, a good appraisal provides peace of mind. It reassures you that you’re making a sound financial decision, and…

As the leaves start to change and the days get shorter, fall is the perfect season to prepare your home for the months ahead. Taking a few preventative steps now can save you money, protect your investment, and give you peace of mind when winter arrives. Simple tasks like cleaning gutters, sealing windows, and servicing your heating system can go a long way in keeping your home safe and energy-efficient. Fall is also an ideal time to check your homeowners insurance coverage. With storms, colder temperatures, and holiday travel on the horizon, making sure your policy reflects your home’s current value and any recent improvements can prevent surprises later. Updating your coverage after a major home upgrade ensures you’re fully protected. Another benefit of fall prep is boosting your home’s…

For many homebuyers, student loans are a big part of their financial picture. The good news is that having student loan debt doesn’t automatically prevent you from getting a mortgage. Lenders look at how your student loan payments impact your overall debt-to-income ratio, rather than the total balance you owe. This means that managing your payments wisely can still make homeownership possible. Your debt-to-income ratio, or DTI, is the percentage of your income that goes toward paying debt each month. Even if you have a significant student loan balance, keeping your monthly payments low compared to your income can improve your chances of qualifying for a mortgage. In some cases, lenders may use income-driven repayment plans when calculating your DTI, which can work in your favor. It’s also important to…

Many homeowners consider paying extra on their mortgage as a way to get ahead financially. While this strategy can be smart for some, it’s important to weigh both the advantages and the potential drawbacks before committing. The Pros: Making additional payments can dramatically reduce the total interest you’ll pay over the life of your loan. It also helps you build equity faster, which could give you more flexibility for refinancing or borrowing against your home in the future. Beyond the financial side, paying down your mortgage early can provide peace of mind and a sense of financial freedom. The Cons: On the flip side, tying extra money into your mortgage can limit liquidity. Those funds may be harder to access if you need them for emergencies, investments, or higher-yield opportunities.…

Buying a home isn’t just about finding the right property—it’s also about timing. Different seasons bring unique opportunities and challenges for homebuyers, and understanding these can help you make smarter decisions. For example, spring is often known as the busiest time of year, with more homes hitting the market. That means more choices, but also more competition. In summer, families often rush to buy and settle before the school year begins, which can drive up demand. However, summer can also bring more open houses and flexibility with showings, making it easier to explore neighborhoods and find a fit that works for your lifestyle. Fall tends to bring a slight slowdown, which can benefit buyers looking for less competition and possibly better deals. Sellers who keep their homes on the market…

Today’s buyers aren’t just looking for location and square footage—they’re also looking for convenience, efficiency, and technology. Smart home upgrades like video doorbells, smart thermostats, and app-controlled lighting are becoming increasingly popular, and they can even add value to your home when it’s time to sell. The appeal of these features is simple: they make daily life easier. Imagine being able to adjust the temperature before you get home, or checking security cameras while on vacation. For many homeowners, these upgrades provide both peace of mind and energy savings, making them a win-win investment. From a mortgage perspective, improving your home’s value through smart upgrades can pay off down the road. Higher value means more equity, and more equity can open up opportunities for refinancing, future upgrades, or even funding…

August has brought new dynamics to the U.S. housing market, with signs of cooling after years of runaway price growth. On a national level, home price appreciation is slowing: the median existing home price in June 2025 was up just 2% year-over-year, a stark contrast to double-digit increases during 2021-22. In fact, experts are forecasting more modest gains moving forward, and several major forecasters expect some markets to experience outright price declines. Notably, nearly half of the country’s largest metro areas—including Austin, Los Angeles, and Miami—are seeing year-over-year price drops, with the sharpest declines concentrated in the South and West Rising inventory is reshaping buyer and seller behavior across the country. There are now over 1.1 million active listings nationwide, the highest level since before the pandemic. This uptick is…

If you're a first-time homebuyer looking to break into the market, house hacking could be your secret weapon. This clever strategy involves living in one part of your property while renting out another—helping you cover your monthly mortgage payments and reduce your living expenses. Whether it’s a duplex, a basement unit, or even just a spare bedroom, house hacking can turn your home into a financial asset from day one. Many buyers use FHA loans, which allow low down payments, to purchase multi-unit properties (up to four units) as long as they live in one of them. That means you could buy a duplex, live in one unit, and have your tenant’s rent contribute to—or even fully cover—your mortgage. It’s an especially attractive option in today’s high-cost housing markets where…