There’s a reason it’s been difficult to buy a home in recent months.
Mortgage rates have been remarkably low since the summer, and for that reason alone, many prospective buyers have clamored to purchase homes. They’re being tripped up, however, by soaring prices.
Home prices increased 5.9% nationally in August 2020, according to the CoreLogic Home Price Index, compared to a year prior. We have limited inventory to thank for that. The supply of available homes in August decreased by 17% from the previous year, leading to an uptick in demand and creating a housing market loaded with bidding wars as eager buyers compete to win contracts on the limited inventory.
The result? Many buyers are struggling to find homes, so they may not get to take advantage of the phenomenally low mortgage rates.
Is it worth it to buy a home today?
Locking in a mortgage at a low
An expectant mother rallying after the trauma of miscarrying said she “feels forgotten about” after she was told her wife could not support her through the birth of their first child.
Chairis Grant-Hickey, a 38-year-old education officer, lost her first child conceived through fertility treatment, and has struggled with Post Traumatic Stress Disorder (PTSD) and panic attacks since.
PTSD and pregnancy
The woman, who lives in South East London, experienced a miscarriage in October 2019. She fell pregnant for the second time in January.
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“I had a missed miscarriage, meaning that I lost my first child at six weeks, but we didn’t find out until the nine week scan,” she said. “After the miscarriage I didn’t expect this level of anxiety. Every time I walk into a hospital, the memories of what happened just came flooding back,” she said. “I’ve still struggled with