WHAT LOWER MORTGAGE RATES MEAN FOR YOUR PURCHASING POWER
January 22, 2024 11:45 am If you want to buy a home, it’s important to know how mortgage rates impact what you can afford and how much you’ll pay each month. Fortunately, rates for 30-year fixed mortgages have come down significantly since the end of October and are currently under 7%, according to Freddie Mac (see graph below): This recent trend is great news for buyers. As a recent article from Bankrate says: “The rate cool-off somewhat eases the housing affordability squeeze.” And according to Edward Seiler, AVP of Housing Economics and Executive Director of the Research Institute for Housing America at the Mortgage Bankers Association (MBA): “MBA expects that affordability conditions will continue to improve as mortgage rates decline . . .” Here’s a bit more context on how this could help with your plans to buy a home. How Mortgage Rates Affect Your Search for a Home Understanding the connection between mortgage rates and your monthly home payment is crucial for your plans to become a homeowner. The chart below illustrates how your ability to afford a home changes when mortgage rates shift. Imagine your budget allows for a monthly payment between $2,400 and $2,500. The green part in the chart shows payments in that range or lower (see chart below): As you can see, even small changes in rates can affect your budget and the loan amount you can afford. Get Help from Reliable Experts To Understand Your Budget and Plan Ahead When you’re looking to buy a home, it’s important to get guidance from a local real estate agent and a trusted lender. They can help you explore different mortgage options, understand what makes mortgage rates go up or down, and how those changes impact you. By looking at the numbers and the latest data together, then adjusting your strategy based on today’s rates, you’ll be better prepared and ready to buy a home.
Dive into the Charm of Bethany Village: Cedar Mill's Bustling Commercial Center
Nestled at the heart of Cedar Mill lies a vibrant commercial center known as Bethany Village. This charming neighborhood hub has earned its reputation as a popular destination for shopping, dining, and connecting with neighbors. In this blog, we invite you to dive into the allure of Bethany Village and discover what makes it a beloved gem in Cedar Mill's crown. A Neighborhood Gathering Place At Bethany Village, it's not just about commerce; it's about community. The moment you step onto the quaint, tree-lined streets, you'll sense a lively and welcoming atmosphere. This pedestrian-friendly center is designed to encourage interaction among residents and visitors, making it an ideal place to meet friends, family, and neighbors. Retail Therapy for All Bethany Village is home to a diverse array of shops and boutiques, catering to a wide range of interests and needs. Whether you're searching for the latest fashion trends, unique home decor, or specialty gifts, you're sure to find something that catches your eye. Stroll through the charming streets, and you'll encounter a delightful mix of both national retailers and locally owned businesses. Dining Delights Foodies rejoice, for Bethany Village boasts a delectable dining scene that will satisfy every palate. From cozy cafes where you can savor a latte and pastry to elegant restaurants serving gourmet meals, there's no shortage of culinary delights to explore. Whether you're craving international flavors, classic comfort food, or healthy options, the dining choices at Bethany Village are as diverse as they are delicious. Community Events and Gatherings One of the standout features of Bethany Village is its commitment to fostering community spirit. Throughout the year, the center hosts a variety of events and gatherings, from outdoor concerts to local art exhibits. These occasions provide opportunities for residents to connect, relax, and enjoy the camaraderie that defines Cedar Mill. Convenience and Accessibility Bethany Village's central location makes it a convenient stop for both residents and those passing through. Whether you need to pick up groceries, run errands, or simply enjoy a leisurely day out, everything you need is within reach. The center's design encourages walking and interaction, enhancing the overall experience for visitors. Supporting Local Businesses By shopping and dining at Bethany Village, you're not only indulging in retail therapy and exquisite cuisine but also supporting local businesses. These establishments are the lifeblood of the community, providing jobs, fostering economic growth, and adding to the unique character of Cedar Mill. If you haven't explored Bethany Village yet, it's time to put it on your to-do list. Whether you're seeking retail therapy, a memorable dining experience, or a place to connect with neighbors, this bustling commercial center has it all. Here are a few tips for your visit: - Explore at your own pace: Take the time to wander through the streets and discover hidden gems. - Attend community events: Keep an eye on the event calendar and join in the festivities. - Support local businesses: Consider shopping at locally owned stores and dining at independent restaurants to support the community. Bethany Village is more than just a commercial center; it's the heart of Cedar Mill, where commerce and community seamlessly blend. So, immerse yourself in the charm of Bethany Village and experience the warmth, camaraderie, and vitality that make Cedar Mill truly special.
Cedar Mill Farmers' Market: A Taste of Local Delights
Explore the Vibrant Cedar Mill Farmers' Market: A Local Gem Imagine strolling through a sun-dappled market square, the aroma of freshly baked bread wafting through the air, colorful produce piled high on tables, and the sound of lively chatter all around. This is the Cedar Mill Farmers' Market, a vibrant hub of community, fresh produce, and local delights that draws residents and visitors alike. In this blog, we'll take you on a journey through this charming market, showcasing its local vendors, seasonal treats, and the strong sense of community that makes it a must-visit for Cedar Mill, Oregon residents. Local Venues and Artisians At the Cedar Mill Farmers' Market, the spotlight shines on local farmers, food producers, and artisans. Each vendor brings their unique offerings to the market, creating a diverse tapestry of flavors and crafts. From farm-fresh vegetables to artisanal cheeses, handmade jewelry to small-batch jams, there's something for everyone's taste and style. Seasonal Bounty: One of the market's defining features is its celebration of seasonal produce. As the months change, so does the market's colorful landscape. Spring brings an abundance of vibrant greens and early strawberries, while summer showcases succulent peaches and ripe tomatoes. In the fall, you can savor the crispness of apples and the warmth of freshly baked pies. The Cedar Mill Farmers' Market is a culinary journey through the seasons, and each visit offers a chance to discover something new. Community and Connection: Beyond the delicious food and unique products, the Cedar Mill Farmers' Market is a place of connection. It's where neighbors gather to catch up, share stories, and strengthen their sense of community. Friendly faces greet each other, children run around in delight, and the market becomes a lively social event that transcends shopping. It's a place where you not only buy your groceries but also build relationships and create lasting memories. Supporting Local Agriculture: By shopping at the Cedar Mill Farmers' Market, you're not only treating yourself to high-quality, locally sourced products, but you're also supporting the livelihoods of local farmers and artisans. This market serves as a vital economic engine for the community, helping small businesses thrive and promoting sustainable farming practices. Plan Your Visit: If you're new to Cedar Mill or have yet to experience the Cedar Mill Farmers' Market, make it a point to visit. It's a place where you can indulge in the flavors of the Pacific Northwest, connect with your neighbors, and support local businesses. Here are a few tips for your visit: -Bring reusable bags: Help reduce waste by bringing your own eco-friendly bags for your market finds. - Arrive early: The early bird gets the best selection of produce and artisanal goods. - Explore and chat: Take the time to talk to vendors, learn about their products, and discover new favorites. - Enjoy the atmosphere: The market often features live music and entertainment, adding to the festive ambiance. The Cedar Mill Farmers' Market is more than just a market; it's a celebration of community, local culture, and the joys of seasonal eating. So, mark your calendar and join in the fun. You'll find not just delicious treats, but a warm, welcoming community that makes Cedar Mill feel like home.
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