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4 important questions homebuyers should be asking now
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Homebuying can be a complex and complicated process to navigate in ideal circumstances, but in the economy and rate climate of 2024, it’s arguably more difficult than it’s been in years. With inflation still stubborn and interest rates still high, there are many factors to account for before house hunting.
It helps, then, for prospective buyers to focus on the factors in their control — and have the answers prepared for a series of important decisions they’ll likely have to make soon.
While these questions will vary based on the buyer and the purchase they intend to make, they can be useful even for those who have yet to get pre-approved for a mortgage. Below, we’ll break down three important questions homebuyers should be asking now.
Start by exploring your mortgage options here to see what rate you qualify for.
4 important questions homebuyers should be asking now
Here are four timely questions homebuyers should be thinking about right now.
When will interest rates drop?
The forecast for a drop in interest rates is unknown, with some experts predicting a cut as early as the spring and others expecting it to come in the summer. But even if the benchmark interest rate range does fall this year, it’s unlikely to be by much. Many predict a 75 basis point drop from the current 5.25% to 5.50% range.
How that ultimately translates to mortgage rates is yet to be determined and will depend on a series of factors, including the lender you choose. That said, mortgage rates have already started to fall in anticipation of a cut, and you may be able to get a lower-than-expected rate today by simply shopping around.
See what mortgage rate you qualify for here today.
Is it worth waiting for rates to drop?
With many expecting interest rates to drop, the question then revolves around waiting for that point. Specifically, is it worth waiting for rates to drop? As noted, any eventual cut is likely to be gradual and unlikely to result in major savings for buyers.
That said, every dollar counts, particularly when the average mortgage loan lasts 30 years. On the other hand, there are advantages to buying a home now and refinancing when rates stabilize to a new (lower) norm. Only buyers will know the answer to this question, but it’s worth thinking about and calculating before rates do fall.
How does my credit look now?
Whether rates drop or not, the lowest rates and best terms will be reserved for borrowers with the highest credit scores and cleanest credit histories. So it makes sense, then, to take a closer look at your credit now.
Is your credit score as high as it can be? If not, consider taking steps to improve it from fair to good. This includes paying off debt, refraining from applying for any new credit and paying your bills on time (or early). By boosting your credit profile now, you’ll be better equipped to act promptly.
What will happen to home inventory?
Housing inventory was low in 2023, at least in part due to existing homeowners staying put versus moving and losing their low interest rate. It’s worth pondering, then, what could happen to home inventory if rates fall and this becomes less of a concern for owners.
Will inventory rise? If so, by how much? And what will that mean for buyers? Will prices fall as a result or will more inventory entice more buyers to the market, thus beefing up the competition you may not be encountering if you act now? Homebuying could get a lot more complicated later this year, so it’s worth thinking about before that point.
The bottom line
The homebuying market is unlikely to look the same as 2024 evolves. Understanding this, buyers should start thinking in a broader sense. By having the answers to the above questions, or simply by thinking about the possible answers in advance, buyers will better position themselves to act when the time is right.
Start researching your mortgage options here now to learn more.
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How to watch the Minnesota Vikings vs. Chicago Bears NFL game today: Livestream options, more
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The Minnesota Vikings will take on the Chicago Bears today. The Vikings are currently 8-2, an impressive run so far this season, and will be looking to add a fourth win to their current streak after last Sunday’s 23-13 win against the Tennessee Titans. The Bears, on the other hand, are entering this game on the heels of a four-game losing streak after a tough 20-19 loss against the Green Bay Packers last Sunday.
Here’s how and when you can watch the Vikings vs. Bears game today, whether or not you have cable.
How and when to watch the Minnesota Vikings vs. Chicago Bears
The Vikings vs. Bears game will be played on Sunday, November 24, 2024 at 1:00 p.m. ET (11:00 a.m. PT). The game will air on Fox and stream on Fubo and the platforms featured below.
How and when to watch the Minnesota Vikings vs. Chicago Bears game without cable
You can watch this week’s NFL game on Fox via several streaming services. All you need is an internet connection and one of the top options outlined below.
Fubo offers you an easy, user-friendly way to watch NFL games on CBS, Fox, NBC, ABC, ESPN, and NFL Network, plus NCAA football channels. The Pro tier includes 200+ channels and unlimited DVR, while the Elite with Sports Plus tier adds NFL RedZone and 4K resolution. New subscribers get a seven-day free trial and all plans allow streaming on up to 10 screens simultaneously.
You can watch today’s game with a subscription to Sling’s Orange + Blue tier, which includes ESPN, ABC, NBC, and Fox. The plan offers 46 channels with local NFL games, nationally broadcast games and 50 hours of DVR storage. For complete NFL coverage, add Paramount+ to get CBS games, or upgrade with the Sports Extra add-on for additional sports channels like Golf Channel, NBA TV and NFL RedZone.
Watching NFL games, including Fox broadcasts, is simple with Hulu + Live TV, which includes 90 channels, unlimited DVR storage, and access to NFL preseason games, live regular season games and studio shows. The service includes ESPN+ and Disney+ in the subscription.
Want to watch today’s game live on your smartphone? If so, NFL+ streaming service is the solution you’re looking for. It lets you watch NFL Network and out-of-market games on mobile devices, with an upgrade option to NFL+ Premium that includes NFL RedZone for watching up to eight games simultaneously. Note that NFL+ only works on phones and tablets, not TVs.
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How to watch the Detroit Lions vs. Indianapolis Colts NFL game today: Livestream options, more
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The Detroit Lions will face off against the Indianapolis Colts today. The Lions enter this game as top contenders with a near-perfect record of 9-1 so far this season. The Colts, who are 5-6 this season, could have a tough game on their hands against the Lions but will be looking to rack up another win after prevailing over the New York Jets in a tight game last Sunday.
Here’s how and when you can watch the Colts vs. Lions game today, whether or not you have cable.
Here’s how and when to watch the Detroit Lions vs. Indianapolis Colts
The Lions vs. Colts game will be played on Sunday, November 24, 2024 at 1:00 p.m. ET (11:00 a.m. PT). The game will air on Fox and stream on Fubo and the platforms featured below.
How and when to watch the Detroit Lions vs. Indianapolis Colts game without cable
You can watch this week’s NFL game on Fox via several streaming services. All you need is an internet connection and one of the top options outlined below.
Experience NFL action like never before with Fubo’s comprehensive sports streaming platform. From Sunday showdowns to primetime matchups, catch every NFL game across major networks including CBS, Fox, NBC, ABC, ESPN and NFL Network. Choose the Pro package to unlock 200+ channels and limitless DVR storage, or elevate your game-day experience with the Elite with Sports Plus package, featuring NFL RedZone’s commercial-free scoring highlights and stunning 4K quality.
Test drive the service with a no-commitment seven-day free trial, and share the excitement with family and friends — Fubo supports simultaneous streaming on up to 10 devices, so everyone can watch their favorite teams.
You can watch today’s game with a subscription to Sling’s Orange + Blue tier, which includes ESPN, ABC, NBC, and Fox. The plan offers 46 channels with local NFL games, nationally broadcast games, and 50 hours of DVR storage. For complete NFL coverage, add Paramount+ to get CBS games, or upgrade with the Sports Extra add-on for additional sports channels like Golf Channel, NBA TV and NFL RedZone.
Watching NFL games, including Fox broadcasts, is simple with Hulu + Live TV, which includes 90 channels, unlimited DVR storage, and access to NFL preseason games, live regular season games and studio shows. The service includes ESPN+ and Disney+ in the subscription.
Want to watch today’s game live on your smartphone? If so, NFL+ streaming service is the solution you’re looking for. It lets you watch NFL Network and out-of-market games on mobile devices, with an upgrade option to NFL+ Premium that includes NFL RedZone for watching up to eight games simultaneously. Note that NFL+ only works on phones and tablets, not TVs.