MORTGAGE BLOG

Exploring Space Efficiency in New Construction Homes

Blog posted On January 10, 2025

According to a new report from Realtor.com, the number of bedrooms in homes has reached a new high. This is a notable statistic since the number of people in any given household has declined over the past 40 years, meaning that American homeowners are dealing with an excess of space. The boom in housing space (bedrooms specifically) began decades ago, when “McMansions” started cropping up everywhere. CNBC reported that the Census data quoted just 7 million extra bedrooms in 1980; today, it’s reached 31.9 million! How should this impact the future of new construction homes going forward? Let’s explore space efficiency in new homes, specifically examining sensible designs over the excessive, wasteful constructions from the last few decades.

Mortgage Rates Spike: Affordability Strains, But Opportunities Remain

Blog posted On November 08, 2024

Market Update: With rates now averaging 7.13%, buyers face higher costs while builders navigate an affordability crunch. Here’s how we can turn these challenges into sales opportunities.

Mortgage rates increased to 7.13% after the election, a jump that highlights the financial pressures impacting buyers and builders alike. The recent rise in rates reflects broader economic trends, including inflation concerns and Treasury yield shifts, which have kept rates elevated. This high-rate environment is dampening buyer affordability and weighing on builders, with monthly payments on a $400,000 home now up 11% since early September.

4 Ways to Save Money When Building a Home

Blog posted On February 04, 2021

Finding the perfect existing home can be hard when housing inventory is tight. Building a new house is a way your dream home can still become a reality. Unlike the upfront cost of buying a home, the cost of building is fluid. Though you will often know the rough estimate beforehand, the total cost can change as the project progresses. In order to help keep costs under control, here are four ways to plan your dream home’s construction.