Home Buying

Mortgage rates fell once again this week, making this their sixth straight week of decline and their lowest point since September 2017. This is good news for prospective home buyers, as the drop in rates has generated a corresponding increase in home affordability across the country. It also means that millions of current home owners stand to save thousands of dollars by refinancing their mortgages!

Although the summer months are the traditional time when most house hunters are out looking for their new home, savvy buyers should consider continuing or beginning their search in the fall. In fact, there are several factors which combine to make fall the optimal time for home buying. This largely comes down to less buyer competition; you are essentially zigging when most people zag, giving you the advantage over sellers as demand falls after summer. Keep reading to learn why fall might be the best season for home buying!

Millennials are already the largest generation of home buyers in the U.S., spending a collective $514 billion on home purchases in the last year; however their ability to buy varies dramatically from state to state. Recently, GoBankingRates.com compiled a ranking of all fifty states based on how affordable their housing market was for those age 25-34. The results showed that Arkansas was the third most affordable state in the U.S. for these young buyers!