All Posts Tagged: 2015 predictions
This weekly feature is a real estate news and information roundup from a millennial’s point of view. When a young professional moves from Indianapolis (median home price $125K) to San Francisco (median price $1 million), you can expect an adventure. Nneka Madus, an analyst in Bank of the West’s Mortgage Division, did just that and has plenty to share in her quest to own a home in San Francisco.
With home values up in the past year in many markets and interest rates still relatively low, some homeowners are thinking about taking out a home equity line of credit, which usually has an interest rate far lower than standard credit card rates. Many homeowners use a home equity credit line to pay for home improvements or other large projects or purchases. Before you decide to take out a home equity credit line, you may want to check out Rich Eisenberg’s article in NextAvenue.org. He gives some helpful tips on snagging the best deal and understanding the risks.
If you looked into the future and saw interest rates climbing to 5.5% in 2016, would that prompt you to make a move to find a house or refinance a mortgage at current rates? Rising rates is exactly what Freddie Mac predicts will start in 2015. Freddie Mac’s predictions don’t stop at interest rates; prices, affordability, and refinance volume are a few topics that Freddie Mac offers insight on. Brena Swanson from Housingwire expounds on these predictions and reflects on the accuracy of Freddie Mac’s 2014 forecasts.
Thinking about home improvement projects? If you’re planning on making some upgrades, read Donna Fuscaldo’s article in FOXBusiness.com to help you determine what may actually create value. But note that if you’re a new homeowner, you may not have equity available to use. Amy Hoak from MarketWatch suggests starting with your windows. Not only would you be see potential savings on energy costs, this is a project that also may have high resale appeal. Don’t worry if you can’t replace vinyl flooring in your kitchen right away. Sometimes less is better — especially for home improvement projects.
Want to potentially save money on your homeowner’s insurance? Donna Fuscaldo from FOXBusiness.com covers this topic in her article about insurance, including things some homeowners may be doing that can make their premiums higher than what their neighbors pay. Remember, not having enough homeowner?s insurance coverage can also be a costly mistake — think about what would happen if your house burned down. Donna covers this and other topics in the article.Read More ›