Real Estate Did You Knows

FRIDAY FACTS

June 5, 2015 

DO YOU KNOW …

 

THAT SHOPPING AROUND FOR A MORTGAGE WILL NOT HURT YOUR CREDIT SCORE

Shopping around for a mortgage with multiple lenders is highly recommended, and even though credit inquiries do impact your credit score, there is an exception when it comes to credit inquiries from mortgage lenders. All such inquiries made in the 30-day period prior to scoring your credit are usually ignored. Furthermore, inquiries outside of that 30-day period that fall within a typical shopping period are counted as only one inquiry.

 

… WHERE PRICES ARE HEADED OVER THE NEXT 5 YEARS:

The following is from the Home Price Expectation Survey developed from a panel of over 100 economists, real estate experts, investment and market strategists:

  • Home values will appreciate by 4.3% in 2015.
  • The cumulative appreciation will be 19.4% by 2019.
  • That means the average annual appreciation will be 3.6% over the next 5 years.
  • Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 11.8% by 2019.
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