Rates

Over the last few weeks, mortgage interest rates have continuously climbed to the point of reaching the mid-7 % on average, where they currently are. It's crazy that we started in the higher 2% this year! The rapid increase in rates is something that we have seen once before, so let's look into the 80s to have an idea of what may be happening in the short term.   In 1980 inflation was...

If you are debating whether to purchase a home now or wait, maybe this information can be helpful to you.   The low-interest rates that we had during 2020 and 2021 were a strong effort from the government to keep the economy active. Low-interest rates incentivize spending because everything is easier to purchase; everything is cheaper, from credit cards, personal loans, mortgages, and auto...

As talk of a recession starts to linger, buying or selling a home can be quite scary! However, a recession does not mean you should begin to worry by any means. Let's take a look at the facts.   The graphic above proves home prices have appreciated in 4 of the last six recessions. In reality, home prices have only fallen twice, a minimal amount in the early '90s and almost by 20% in the...

With inflation on the rise, the impact on rents is immediate. We are already experiencing this, with the average apartment studio in San Diego renting for $2,417, up 23% from last year. On the other hand, buying a home is a hedge against inflation since your property will increase in value, but your monthly payment stays the same with a fixed-rate mortgage.   So if you are thinking of buying...