Yes, the combination of rising mortgage rates and house prices are probably insurmountable for many young homebuyers. But new research has found that what’s really holding many of them back is the truckload of debt they’re carrying.
Wits’ End would make an appropriate name for a new subdivision in today’s wild housing market. While there’s not yet such a place on the map, many would-be buyers are quickly running out of patience.
The closing is the last step in the long, sometimes difficult, almost always anxious journey in buying and selling a house. And it can be just as ripe for pitfalls as any other part of the process.
There are “haunted houses” – you know, the ones that pop up this time of year where you pay to have the bejesus frightened out of you. And then there are “real” haunted houses – the ones where ghastly spooks supposedly live on, long after they should have transferred into the afterlife.
Surprisingly, 60 percent of Americans are open to sharing a house with specters and spooks. So what are the disclosure laws around ghosts?
With mortgage rates falling below 3 percent for the first time in five decades, would-be homebuyers are chomping at the bit to get out there and find new places. But when they finally do jump off the sidelines, they’re likely to find slim pickings.
Only a lender can tell a homebuyer how much they can spend on a house. But you don’t have to spend that much, and probably shouldn’t.