Mortgage Payments Rise in January 2025: What It Means for Homebuyers
The cost of homeownership is becoming more challenging as mortgage payments continue to increase. In January 2025, the median monthly mortgage payment for purchase applicants jumped to $2,205, marking a 3.7% increase from December’s $2,127, according to the Mortgage Bankers Association (MBA). With
Why Home Prices Are Still Rising and What It Means for You
Despite high mortgage rates, home prices continue to climb. The Case-Shiller Index reported a 3.8% annual increase, and the Federal Housing Finance Agency recorded a 4.2% gain nationally. With such growth, many buyers are left wondering: Is this a bubble, or should I wait for rates and prices to dr
Understanding Rising Mortgage Rates: What Scottsdale Homebuyers Need to Know
Mortgage rates have recently hit 7% for the first time since mid-2024, posing new challenges for homebuyers. Despite recent Federal Reserve interest rate cuts, mortgage rates have continued to climb due to factors like persistent inflation and strong economic growth. As a Realtor® in Scottsdale, I
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