Intentional Midwest Living
We’re glad you’re here!
Our blog is back and back with the utmost intention! Market updates, design, renovation, how-to’s, favorite products … name it, we’ve got you! By combining the knowledge, passion and expertise of our team members, we’re excited to provide our readers (you!) with alllll the intentional tidbits to help you create the lifestyle you’ve always dreamed of. More real, more lifestyle, more personalities, more authentic value. That’s our promise.
Earlier this year, we expanded our team to better serve buyers that are looking to purchase and renovate a new space into their dream home. By offering a full-service experience, clients feel more supported throughout the purchase and financing stage and, of course, the design and renovation! Today, we help lots of families navigate the offer stage and consider renovation and design decisions on the forefront of relocations! This helps our clients really prioritize what’s important and find the perfect space to support their family’s lifestyle.
As the seasons change, so does a desire for a fresh chapter. I don’t know about you, but we love a fall drive here in the midwest. Looking at the changing trees and dreaming of the beautiful homes that pass by. “What if I transformed my home into the ones I dream of on my Pinterest board?!” “What if we sold and started fresh?” We receive lots of inquiries this time of year asking for just this. While the state of the market has been swirling in headlines lately, we thought we’d put together a market update for those wondering about the current state of the housing market, interest rates, and renovation loan options (OK, yes the less than fun parts of bringing your Pinterest board to reality, but important too!!)
“As I’m sure you’ve seen in the news, mortgage interest rates have been steadily rising throughout 2022 and rate movement has become the new normal” – Vanessa Keyes
I’m Vanessa Keyes, Vice President of Mortgage Lending at Guaranteed Rate. You will see me more around here as I am combining my expertise in the home industry and passion for design. As I’m sure you’ve seen in the news, mortgage interest rates have been steadily rising throughout 2022 and rate movement has become the new normal, with the Federal Reserve continuing their fight against inflation.
A little perspective can help here. Though the national average 30-year fixed rate is now around 5.50 – 5.875%*, a homebuyer is not “married” to their interest rate for thirty years. “With higher rates, we are consulting with our clients on different ways to approach their home affordability. The positive news is that data is showing market competition has cooled down towards the end of the summer, offering buyers the opportunity to not always compete with multiple offers and over list price.”
Here are a few options to consider while shopping for your dream home:
For more buying and renovation tips, reach out to the BZS team!