Is consumer confidence trending higher?
Despite all the doom and gloom headlines, it seems like consumers are feeling pretty good these days. The August Consumer Confidence Index® came in at 103.2, up from 95.3 in July. Some of the upbeat mood comes from lower gas prices, now averaging $3.81 a gallon nationwide. Also, consumer spending was down a bit over the summer months while people were out on vacations.
The hope is we see stability in the way people are spending, which could make for a kinder, gentler recession that might not last that long. As for mortgage rates, it seems likely that they’ll continue hovering in the 5-percent range for the remainder of the year until we get additional data.
Real estate agents give inside info on homebuying secrets
If you can’t afford to plunk down six or seven figures in cash for a home, you have to think outside the lot lines. Maybe consider a fixer-upper. Boost your earnest money. Add an escalation clause. Get the inside scoop from some savvy real estate agents and brokers on how to lock down a good deal in this challenging market.
First-time homebuyers guide: part 10
Finding the perfect neighborhood is just as important as finding the perfect home. Do you want a grocery store and post office within walking distance? What about parks for the kids and the dog? A local coffee shop for you? To get a feel for any neighborhood you need to immerse yourself in it.
Drive around, walk the streets, talk to the people. While this will take a little extra time, it’s well worth it to make sure you feel at home in your new neighborhood.
Pre-Approval
in 10 minutes?
in under 10 minutes. Grab a few important documents to get started.
- Tax Returns
- Copies of W-2s (or 1099s for independent contractors,
freelancers and the self-employed) - A payroll stub
- A bank statement
- Loan obligation info (student loans,
auto loans and credit cards)
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply.
All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate. Guaranteed Rate its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.
John Kistner is Guaranteed Rate’s Market Analyst. Market Updates are designed to provide readers with a high-level yet insightful view of how economic news, events and trends affect mortgage rates and the homebuying process.