Rent-to-own programs offer tenants the option to lease with the opportunity to purchase a property later, utilizing rent credits for future down paymentsEligibility criteria often involve a minimum credit score and stable income. Monthly payments in rent-to-own programs may be slightly higher but contribute towards future homeownership....

The Mortgage Bankers Association is expecting a 19% increase in total mortgage origination volume by 2024, from 4.4 million loans in 2023. Mike Fratantoni, MBA's Chief Economist, predicts a mild recession in early 2024 due to higher interest rates, tighter credit conditions, and a depletion of pandemic-era savings. Despite the expected recession, the MBA expects the national housing prices to grow...

Mortgage rates have risen significantly in the past year, going from around 3% to nearly 8%, causing many potential home buyers to question when rates will drop again. Factors such as the Federal Reserve, inflation, supply and demand, and Federal Reserve monetary policy have all had an effect on mortgage rate movement. As of October 11, 2023, the average 30-year fixed mortgage rate is 7.83%, the highest...

Capacity: Lenders evaluate income and expenses to ensure repayment capability....

Mortgage Rates and Inflation: Past, Present, and the Future If you want to buy a house this year, you're probably keeping a close eye on mortgage rates. Because mortgage rates influence what you can afford when you take out a home loan – and affordability is such a big concern right now – it's a good time to look at where mortgage rates have been historically compared to where they are currently....

Mortgage rates are trending high across the board, with the current 30-year fixed rate being 8.16%, 15-year fixed rate being 7.24%, and 30-year jumbo rate being 8.07%. These rates are significantly higher than last year's, with the 30-year fixed rate being 5.70% and the 15-year fixed rate being 5.00%. Mortgage rates are determined by the overall economy, inflation, and actions of the Federal...

Halloween falls on October 31 because the ancient Gaelic festival of Samhain, considered the earliest known root of Halloween, occurred on this day. In the eighth century, Pope Gregory III designated November 1 as a time to praise all saints. Soon, All Saints' Day incorporated some traditions of Samhain and the evening before was known as All Hallows...

The Georgia Department of Community Affairs is opening applications for the Housing Choice Voucher Program. This program, funded by HUD, aims to assist low-income families and individuals in obtaining safe and sanitary housing. Eligibility for the program is based on factors such as total annual gross income, family size, and immigration status....

The Housing Choice Voucher Program in Georgia will open its applications for the waitlist for three days in October, allowing families who need assistance covering their rent to apply. A lottery system will be used to select who will be added to the waitlist and those selected will be randomly placed on the list to get a housing voucher. The Department of Community Affairs is also looking for renters to...

With mortgage rates at 7.67%, buying a home may not be the most financially viable option. The Mortgage Bankers Association reports that while the average 30-year fixed rate mortgage is at a high, the rate on the average 5-year adjustable-rate mortgage (ARM) actually went down to 6.33%. This has caused a surge in ARM applications, and is the highest since November 2022. Real estate experts explain the...