Mortgage and real estate news this week

Good news for homeowners and buyers alike: Mortgage rates are down again. This is the big news this week against a backdrop of declining inflation fears. With things becoming more and more normal in the real estate market, things are looking rosier, even for homebuyers. Here is what else is happening at Bankrate this week.

1. The best states to retire

If you’re ready to gracefully step out of the workforce, you might also be considering a change of scenery. If you are, Georgia should be on your mind. Bankrate’s annual rankings put it at the top of the list of the best places to retire. Check out the full leaderboard to find out more and where you should think about hanging your hat.

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2. Mortgage rates go down again

The average rate on a 30-year fixed mortgage fell this week to 3.13%, its lowest level since March. The decline is largely due to the perception that inflation risk has diminished and signals from the Fed that it will continue to support markets for now. With most experts still predicting an uptrend to hold for the long term, now is the time to consider refinancing if you haven’t already.

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3. Tug of war at the Fed

These lower mortgage rates, as mentioned above, are in part due to the Fed continuing with its pro-borrower policies. The central bank is likely to reverse course in the coming months, or at least take action that will encourage interest rates to rise. Bankrate’s chief financial analyst Greg McBride explained why and how the adjustments could affect your personal finances.

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4. Understand your property taxes

If you own a home, you are not only responsible for paying your mortgage and any maintenance costs that may arise from it; you also have to shell out for property taxes. These can be calculated and covered in a variety of ways, and like most things with national and local tax codes, can be a bit confusing for the uninitiated. See the Bankrate guide to learn more about how it works.

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5. The digital notary revolution

Notarization is a key part of closing a real estate transaction, and for buyers and sellers in many places, it’s also a major barrier to being able to complete this process virtually. But now, according to Pat Kinsel, founder and CEO of Notarize, an app that facilitates electronic notarization, that could change. Read our discussion to find out why notarization is so important and new digital tools to help you.

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About Teresa G. Wilson

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