How Todays Mortgage Rates Impact Your Home PurchaseIf you're planning to buy a home, its critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that's within your financial reach. Mortgage rates directly impact the monthly payment you'll have on the home you purchase. So, when rates rise, so does the monthly payment you're able to lock in on your home loan. In a rising-rate environment like were in today, that could limit your future purchasing power.Today, the average 30-year fixed mortgage rate is above 5%, and in the near term, experts say that'll likely go up in the months ahead. You have the opportunity to get ahead of that increase if you buy now before that impacts your purchasing powe... 05/23/2022

The One Thing Every Homeowner Needs To Know About a RecessionA recession does not equal a housing crisis. Thats the one thing that every homeowner today needs to know. Everywhere you look, experts are warning we could be heading toward a recession, and if true, an economic slowdown doesn't mean homes will lose value.The National Bureau of Economic Research(NBER) defines a recession this way:A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Between trough and peak, the economy is in an expansion. To help show that home prices don't fall every time there's a recession, take... 05/26/2022