Real estate

Mortgage and real estate news this week

It looks like the rate hike is happening faster than expected, with mortgage interest rising in early 2022. But that’s not all bad news for consumers in real estate. Here’s everything you need to know this week.

1. Mortgage rates are higher

I’ve just ruled out the big deal: Rates hit their highest levels since April 2020 in Bankrate’s latest survey, averaging 3.63%. Experts don’t seem sure, however, whether they’ll keep climbing from here or take a break in the coming weeks. Even so, these higher rates mean the refinance window is closed for many homeowners, although new home buying activity should keep underwriters busy.

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2. Where to move this year

If you’re looking for a big change of scenery this year, Bankrate has you covered. We’ve rated the country’s major metropolitan areas and bring you our top 20, based on cost, vibe, and past popularity. Although the results somewhat favor the Sun Belt, all climates and time zones are well represented.

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3. December’s hottest (and coldest) real estate markets

Price is obviously a big factor for those considering a move, and as usual, California dominated the most expensive markets last month – although Boston entered at number 4. Meanwhile, Florida sagged. is somewhat chilled, with four of the five least competitive markets being in the Sunshine State.

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4. How to handle unsolicited offers

If you receive a letter asking you to buy your home, you shouldn’t just agree to sell without doing your research and contacting an agent. Even if the mail-in deal looks good, you could still leave some cash on the table.

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5. Seasonal home maintenance

Any homeowner can attest that there is almost always something that needs fixing or fixing in your home. To keep minor issues at bay, it’s a good idea to get into a regular maintenance routine. This checklist can help you keep track of what needs to be done and also offers advice on funding projects that turn out to be bigger than you expected.

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