Home Prices Jump
Home prices experienced their biggest year-over-year increase in February in nearly seven years. According to the CoreLogic February Home Price Index report, home prices nationwide, including distressed sales, increased by 10.2 percent on a year-over-year basis from a year ago. This jump in home prices is the biggest year-over-year increase since March 2006. This is the 12th consecutive monthly increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 0.5 percent from January.
Time To Buy
With home prices on the rise, buyers on the fence regarding homeownership may want to consider jumping in the ring. Home affordability continues to be high with average 30-fixed mortgage rates hovering around 4%.
In the news, we hear about the difficulties first time home buyers experience when trying to obtain credit – but many buyers really don’t know if they can qualify for a mortgage. There are loan programs available that allow for no down payments and others that require as little as 3% down. If a down payment is your hurdle to homeownership, consult a licensed originator to discuss your options. Loan officers can counsel home buyers on the steps they would need to take to qualify for a mortgage. Pre-approvals for mortgage loans are a free service loan officers provide and buyers are under no obligation.
First Time Home Buyer Resources
Here are a few of our most popular blog posts for first time home buyers:
- Mortgage Myths Debunked
- Get Pre-Approved for a Mortgage
- First Time Home Buyer Tips
- First Time Home Buyer Mistakes
Contact a licensed Inlanta Mortgage loan originator to discuss your home financing needs. Use our branch locator to find an office near you.
Inlanta Mortgage is proudly celebrating twenty years in business. Learn more about Inlanta’s twenty year history here.
Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.
Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016. Inlanta Mortgage is proud to be a recent recipient of a 2012 Top Workplace Award.