It’s still a pretty quiet time in the real estate market, but there’s still plenty to keep on top of as spring homebuying season approaches. Here’s the latest from Bankrate.
1. Single female homebuyers
Seeking greater financial security, more single women than ever are taking the plunge into homeownership. While it can be tough for any single person to buy property on their own, it’s not impossible, and many young women see it as a big step toward their own independence.
2. Fair Housing and you
The Fair Housing Act is a foundational piece of real estate legislation in America, and it’s important to understand as you prepare to buy or sell a home. You don’t want to wind up inadvertently on the wrong side of the law.
3. Mortgage rates climbing again
This week saw mortgage rates jump to 3.76 percent after falling off slightly earlier in the month. While the refinance window may have already closed for many, it could still be a fine time to lock in a new mortgage. Most experts in Bankrate’s weekly poll predicted things should stay steady or go lower temporarily before the upward trend resumes.
4. A great time to get giant mortgage
Although rates are generally rising, it’s also a good time to apply for a jumbo loan, because these huge debts are seeing lower rates than conforming mortgages for now.
5. How much house can you afford?
Especially in light of the recent volatility in mortgage rates, it’s more important than ever to have a strong grasp on your housing budget if you’re beginning to consider buying property. If you’re not sure where to begin, check out Bankrate’s handy guide.