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Impact of Rising Interest Rates on Mortgage Plans The Concern Around Increasing Mortgage Rates The recent and rapid increase in interest rates has certainly created concern. While the 11 increases in the Fed Benchmark Rate since the Fed began its inflation fight in March 2022 do not have a direct impact on mortgage rates, 11 straight rate increases currently the top story all over the media does shock the market. Mortgage rates have increased from a low of 2.96% in 2021 to an average mortgage rate close to 7% in 2023 creating concern for prospective buyers. Understanding the 30-Year Mortgage...

Arlington, Virginia, is a thriving urban area with a robust real estate market. The city is known for its high-quality schools, excellent public transportation, and vibrant cultural scene. Navigating the Arlington real estate market can be complex. This is true whether you’re a seasoned investor or a first-time home seller.   This infor will give you an overview of the market. It will also provide practical advice to help you make the most of your real estate transaction. Understanding the Arlington Real Estate Market Key Market Trends Rising Property Values: Over the past decade, property values in Arlington have consistently...

Unlocking Your Dream Home: Home Buyer Seminar in Shirlington Village Date: Wednesday, August 23 Time: 6:30 – 8:00 PM Reserve Your Seat Here! Are You Ready to Own a Home? Thinking about buying your dream home in Arlington, Virginia? Let Kay Houghton & Associates guide you through the home-buying process at our exclusive Home Buyer Seminar in Shirlington Village. Come and join us for an opportunity to gain knowledge and uncover: – Unraveling the Mystery of Purchasing a Home – Keeping Up with the Current Market Patterns in Arlington, Virginia – Gain Valuable Advice and Knowledge to Assist You in...

We are thrilled to announce a new milestone in our journey. On June 15, Kay Houghton and Associates officially opened its doors at our brand new office in the Village at Shirlington, marking an exciting chapter in our continuing story. The grand opening launch party was a truly memorable day. As we swung open our doors, the warmth and support of our clients, friends, and colleagues who turned out in numbers was truly heartening. A shared sense of camaraderie and excitement for the future filled the air, creating a vibrant atmosphere that was nothing short of inspiring. Our launch party...

Selling a house can be daunting, especially when you need to figure out the right time to sell. The timing of your home sale can significantly impact the selling price, the number of offers you receive, and the time it takes to sell your property. In Arlington, Alexandria and the surrounding Northern Virginia area, there are certain times of the year are considered better for selling a house. And according to REALTOR.com, there is a week that represents a balanced selection of market conditions that favor sellers. “The week of April 16-22 is expected to have the ideal balance of...

The real estate market has changed a lot in less than a year, mainly due to higher interest rates. To help make sense of it, we’re breaking down what this means for buyers and sellers, how we got here, and where the market is going. Multiple rate increases by the Federal Reserve have drastically increased what were record-low mortgage interest rates. The average mortgage rate at the beginning of 2022 was 3.22% and was 6.70% by the end of September. For a $500,000 home with 5% down, the difference in monthly payment is over $1,000 per month! To put it...