First Federal Bank Blog

After months of sitting on the sidelines, many homebuyers who were priced out by high mortgage rates and affordability challenges finally have an opportunity to make their move. With rates trending down, today’s market is a sweet spot for buyers—and it’s one that may not last long.

If you’ve been hesitant to list your house because you’re worried no one’s buying, here’s your sign it may be time to talk with a professional.

Looking ahead to 2025, it's important to know what experts are projecting for the housing market. And whether you're thinking of buying or selling a home next year, having a clear picture of what they’re calling for can help you make the best possible decision for your homeownership plans.

You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years. But there is hope on the horizon. Rates have actually started to come down.

When you're thinking about buying a home, your credit score is one of the biggest pieces of the puzzle. Think of it like your financial report card that lenders look at when trying to figure out if you qualify, and which home loan will work best for you. As the Mortgage Report says:

Over the past couple of years, a lot of people have had a hard time buying a home. And while affordability is still tight, there are signs it's getting a little better and might keep improving throughout the rest of the year. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

Mortgage rates have been one of the hottest topics in the housing market lately because of their impact on affordability. And if you’re someone who’s looking to make a move, you’ve probably been waiting eagerly for rates to come down for that very reason. Well, if the past few weeks are any indication, you may be getting your wish.

Buydowns: A Strategy for Lowering Interest Rates

1. Upfront Payment: Another party pays an upfront payment at closing.2. Interest Rate Reduction: In exchange for the upfront payment, First Federal Bank will lower the interest rate on the mortgage for a specified period. We do 3-2-1 buydowns, 2-1 buydowns, and 1-0 buydowns.A common buydown might be...

A Home Equity Line of Credit (HELOC) is a popular way to turn home ownership into cash when you need it. You can turn the equity in your home into a line of credit that functions like a credit card. According to Business Insider, whether a HELOC is the right move for your finances depends on a few factors:

Today’s headlines and news stories about home prices are confusing and make it tough to know what’s really happening. Some say home prices are heading for a correction, but what do the facts say? Well, it helps to start by looking at what a correction means.