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How a Change in Mortgage Rate Impacts Your Homebuying Budget

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How a Change in Mortgage Rate Impacts Your Homebuying Budget Mortgage rates are on the rise this year, but they’re still incredibly low compared to the historic average. However, anytime there’s a change in the mortgage rate, it affects what you can afford to borrow when you’re buying a home. As Sam Khater, Chief Economist at Freddie Mac, shares: “Since January, mortgage…
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What Credit Score Do You Need for a Mortgage?

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What Credit Score Do You Need for a Mortgage? According to data from the most recent Origination Insight Report by Ellie Mae, the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. While stricter lending standards could…
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Will the Housing Market Bloom This Spring?

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Will the Housing Market Bloom This Spring? Spring is almost here, and many are wondering what it will bring for the housing market. Even though the pandemic continues on, it’s certain to be very different from the spring we experienced at this time last year. Here’s what a few industry experts have to say about…
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Brazoria County Feb 2021 vs 2020

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Brazoria County Real Estates Stats for February took an interesting turn with the Median Sales Price. As expected the number of Active Listings is down from last year, as it is across most of the United States. The Number of Sales is also down along with the Median Sales Price.  The Median Sales Price has…
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Reason Mortgage Rates Are Projected to Increase and What It Means for You

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The Reason Mortgage Rates Are Projected to Increase and What It Means for You We’re currently experiencing historically low mortgage rates. Over the last fifty years, the average on a Freddie Mac 30-year fixed-rate mortgage has been 7.76%. Today, that rate is 2.81%. Flocks of homebuyers have been taking advantage of these remarkably low rates over the last…
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3 Reasons We’re Definitely Not in a Housing Bubble

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3 Reasons We’re Definitely Not in a Housing Bubble Home values appreciated by about ten percent in 2020, and they’re forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are…
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