The real-estate market is constantly evolving! Current borrowers and first-time homeowners can learn about what’s hot in 2015! Get ahead of the game by planning now!

Home Values Rise at Slower Pace

Property prices are going up but at an unhurried rate compared to 2014. In fact, home values are best determined locally in a given city. The S&P/Case-Shiller Home Price Index is still a remarkable resource that provides homeowners and real-estate industry professionals with an idea of which direction the market is heading. Right now, the home prices rose 5.6 percent nationwide compared to last year.

The financial data firm CoreLogic released their latest HPI Forecast, which predicts that U.S. home prices will be increasing by 5.7 percent between July 2014 to July 2015. Homeowners will still benefit even if the real-estate market continues at a snail’s pace throughout 2015.

Mortgage Rates Linger During Most of 2015

Freddie Mac, a government-sponsored enterprise that purchases and sells mortgage securities, administers a weekly report of mortgage rates being offered by U.S. lenders. The organization predicts mortgage rates will rise gradually during the next 12 months. They also forecast the average rate assigned to a 30-year loan to reach or surpass 5 percent by the end of the year.

Foreclosures on the Decline

Thankfully, there has been a decrease in foreclosures, which shows there has been an uptick and improvement in the economy. CoreLogic reported that foreclosures have been declining for more than 30 months in a row, which is wonderful news. Foreclosed properties are priced below their true-market value, which in return causes home values to go down. The number of foreclosed homes will be less this year, causing the real-estate market to flourish once again.

Attaining Mortgages in a Cinch

The economy is strengthening, so it may be a great time to buy your dream home. Lenders are making home ownership easier and more of a reality for borrowers by accepting low-credit scores and high debt. The real-estate industry has been experiencing a lower loan volume, which is allowing lenders to be lenient in order to increase their numbers. There were instances of loan decreases in 2014 and will continue throughout 2015, which in return will give folks an opportunity to make owning a home a reality.

If you are looking for refinance your mortgage, talk to the experts at Real Estate Closing Solutions. We will help put you in touch with a mortgage lender that will assist you with your loan refinance.

To learn more about the services that Real Estate Closing Solutions offers, contact us today by visiting us online or calling 407-440-5025.