You might expect that mortgage rates would be falling right now after the Federal Reserve cut interest rates by a half-point last month. Here are 4 ways the Federal Reserve’s big rate cut could change the housing market Instead, mortgage rates jumped higher. The latest data from Freddie Mac showed that the average 30-year mortgage rate had…

Beyond the pride of owning a home, there are significant financial benefits that come with it, especially during tax season. Navigating these benefits doesn’t have to be overwhelming despite the complexity of tax laws. With some foundational knowledge, homeowners can maximize their savings and enhance their financial well-being. Mortgage Interest Deduction Homeowners can deduct the…

The presidential election in 2024 is poised to have a significant impact on interest rates, a critical factor influencing various financial markets and economic conditions. Historically, elections bring a degree of uncertainty that can lead to volatility in financial markets and subsequently affect interest rates. Here are some key factors to consider: Policy Uncertainty Elections…

With rising inventory and the expectation of continued Fed rate cuts, increased sales can’t be far behind. Retreat for First Timers In August, first-time buyers accounted for 26% of sales, matching the all-time low last seen in November 2021. This is down from 29% in both July 2024 and August 2023. A market requires both…

It rises for the third week in a row. The average rate on a 30-year mortgage in the US rose for the third week in a row, reaching its highest level in eight weeks. The rate rose to 6.44% from 6.32% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.63%. The last time the average…

Should I Buy a Home Now? With the ever-changing real estate market, deciding if now is the right time to buy a home can be challenging. Various factors such as market conditions, interest rates, personal financial situation, and long-term plans should all be taken into account. This blog will guide you through some critical considerations…

Should I Refinance My Home Now? Refinancing your home can be a beneficial financial move, but it’s important to evaluate whether now is the right time for you. Various factors, including current interest rates, your financial goals, and the length of time you plan to stay in your home, play key roles in this decision.…

Should You Use Your Home Equity to Pay Off High-Interest Debt?

The Federal Reserve Board (the Fed) announced the first interest rate cut in September that it’s made in years, as inflation has finally begun to cool. This could sound like exciting news to homeowners who have been landed with higher-than-comfortable mortgage interest rates, allowing for the possibility of refinancing to cheaper rates. While any rate drop offers…

In today’s digital age, leveraging the power of social media is crucial for businesses. For a company like North Star Mortgage Network, engaging clients through platforms like Facebook, LinkedIn, and Instagram not only strengthens customer relationships but also ensures clients are well-informed about the latest mortgage trends and opportunities. Here’s why you should be following…