Having previously worked as a Mortgage Underwriter from the early 2000's until I became a Real Estate Agent in 2017, I saw a huge shift in Mortgage Underwriting guidelines. In the early 2000's it seemed like anyone could get a loan due to much less stringent Guidelines than we have today. So much has changed since then and thus one of the many reasons why experts feel we will not see a crash similar to the one in 2008.
If you are a first- time home buyer, like many, you may have had to drop out of the race this year due to rising interest rates. I started the year with many Southern New Hampshire home buyers confident that they would be able to purchase a home in 2022 only to watch their purchase power drop significantly as interest rates soared. Many of these home buyers had to put their dreams of home ownership on hold. Today, according to some economists, there may be a glimmer of hope.
There’s no denying the housing market is undergoing a shift this season, and that may leave you with some questions about whether it still makes sense to sell your house. Here are three of the top questions you may be asking – and the data that helps answer them – so you can make a confident decision.
Experts agree there’s no chance of a large-scale foreclosure crisis like we saw back in 2008, and that’s good news for the housing market. As Mark Fleming, Chief Economist at First American, says:
Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next year and what that may mean if you’re thinking about buying a home. Here’s a look at the latest expert insights on both mortgage rates and home prices so you can make your best move possible.
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