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March 2018 Archives

What to know about the current housing market

The mortgage on a median-priced home in America is up 13 percent from the first part of 2017. This could make it more challenging for Delaware homebuyers this spring season. When a buyer takes taxes and other costs into account, a total mortgage payment can easily exceed 30 percent of a person's income. Ideally, housing should constitute no more than 30 percent of a person's take-home pay.

Residential real estate sales fall as mortgage rates rise

People in Delaware may be closely following trends in the residential real estate market as they look to purchase a home or relocate by selling their home and searching for a new residence. Across the United States, mortgage rates are rising, and it appears that fewer people are selling their homes. In January 2018, pending home sales, a measure of signed contracts, went down 4.7 percent in comparison with the previous month, December 2017.