![The First Step: Getting Pre-Approved for a Mortgage [INFOGRAPHIC],KCM Crew](https://img.chime.me/image/fs/chimeblog/20240302/16/w600_original_4a1a82bb-73d7-400a-bd23-2f518fd5b879-png.webp)
The First Step: Getting Pre-Approved for a Mortgage [INFOGRAPHIC]
Some Highlights If you’re looking to buy a home in 2024, getting pre-approved is a key piece of the puzzle. Mortgage pre-approval means a lender checks your finances and decides how much you’re qualified to borrow. As more buyers re-enter the market, it’ll help you make a strong offer that stands ou
Average 30-Year Mortgage Rate Rises to 6.94%
That’s up from 6.90% last week, marking the 4th straight weekly increase. Rates have been creeping higher as reports show stronger-than-expected inflation.
Pending Home Sales Receded 4.9% in January
NAR: Pending sales were down 8.8% year-over-year. Chief Economist Yun noted that “consumers are showing extra sensitivity to changes in mortgage rates.”
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