TAKE INVENTORY OF YOUR BELONGINGS BEFORE A DISASTER STRIKES

 

BY HOM EDITORIAL TEAM

As a homeowner, your abode is your pride and joy, and considering how hard you’ve worked to get to this point, how couldn’t it be? After spending countless months—let’s be honest, years—decorating and curating your home, you want to be sure everything is accounted for in case a disaster occurs. Surprisingly, only around half of homeowners have a home inventory, based on a poll from the Insurance Information Institute. This rate has stayed rather stagnant over the past decade, and it’s time for that to change.

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MORTGAGE RATES CONTINUE TO FALL, LEADING TO MORE HOME SALES

 

“The purchasing power to buy a home has been bolstered by falling mortgage rates, and buyers are responding."

BY ANTHONY SANFILIPPO

Mortgage rates at the end of May dipped below four percent for the first time in 16 months and have now dropped a full percentage point since November, according to data from Freddie Mac.

Pending home sales and new home sales were declining for a while which led to mortgage rates continuing to fall.
However, consumers finally identified a window of opportunity and decided to take it.

According to data released by the National Association of REALTORS® (NAR), existing home sales increased by 2.5 percent in May when compared to April.

Annually, home sales are still down 1.1 percent from this point in 2018, however homebuyers took advantage of the reduced mortgage rates.

“The purchasing power to buy a home has been bolstered by falling mortgage rates, and buyers are responding,” said NAR chief economist Lawrence Yun.

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