Land sales volume continued to exceed the five-year average of $650 million in gross sales during the first six months of 2023, but gross sales are off from the record-setting pace of 2021 and 2022, according to Farmers National Company mid-year land values report, released Tuesday.
During the first half of 2023, land sales volume came in at roughly $445 million, compared to an average of $735 million in both 2021 and 2022. In addition, land value growth nationwide was negative in Q1 and Q2 2023 when compared to the same time period a year prior.
According to the report, this trend began to emerge during the fourth quarter of 2022 as interest rates increased and inflationary pressures began to weigh more heavily on the overall real estate market.
“These operators have enjoyed a period of high liquidity over the past five years but are now moving into a period of increasing debt service and borrowing. This will most likely result in less available cash reserve to deploy for capital expenditures and land purchases,” Paul Schadegg, the senior vice president of real estate operations for Farmers National Company, said in a statement. “While investors have not always been the successful buyer of properties offered for sale, they certainly are part of the equation, helping set a floor on land values and creating a competitive market. If farm operators step back from aggressive bidding for land, investors will most likely step in to take advantage of purchasing options.”
Despite the slowdown in transaction volume, farm operators remained the largest group of buyers through Farmers National Company, accounting for nearly 80% of the firm’s land sale transactions, according to the report.
“Landowners continue to look for opportunity in the agriculture land market, deciding if this is the best time to sell at historic values or retain ownership of what continues to be a very valuable asset,” Schadegg said.
Schadegg added that there continues to be a strong appetite for land properties from buyers considering farm expansion and investment opportunities in the agricultural economy. He believes that this, combined with strong commodity markets, will continue to drive demand for high-quality cropland, helping to maintain strong land values.
“We remain confident that the strong demand for quality agriculture land will continue through the year,” Schadegg said. “That opinion, coupled with the stable ag economy and a supply/demand scenario favoring the landowner, will maintain the current and long-term value of farmland across the U.S.”
Regionally, the Midwest continued to post positive land value growth. However, it dropped from a range of 18% to 32% in Q3 2022 to a range of 2% to 5% during the first half of 2023.
Among North America‘s best-known national parks, Glacier Bay is a bit of an outlier.
Unlike Yellowstone or Yosemite, you can’t visit Glacier Bay on a road trip. There are no roads leading into the park, and the only way to reach it is by small plane, boat or ship.
There’s also little infrastructure within the park. It does have a visitor center and lodge, located at its very edge. But its biggest attractions — its giant tidewater glaciers — are viewable only from the deck of a vessel. At its essence, Glacier Bay is a giant, fjordlike body of water lined with snowcapped mountains, forests and glaciers, and it’s best seen from the water.
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It is for this reason that a large percentage of Glacier Bay’s nearly 700,000 visitors a year arrive on a cruise ship. Indeed, you could almost call Glacier Bay a cruise ship park.
Only by arriving by cruise vessel (or another boat, including the park tour boat) can you fully experience the park by traveling up the 65-mile-long waterway to a glacier and back.
Even so, you’ll only see a small portion of the park. Established as a national monument in 1925 and elevated to national park status in 1980, Glacier Bay covers more than 5,200 square miles — an area about the size of Connecticut. That makes it nearly as big as Yellowstone and Yosemite combined — though much of this area is relatively inaccessible.
As a longtime travel writer specializing in cruising, I’ve been to Glacier Bay many times, and it’s one of my favorite places in Alaska. Its glaciers are its star attractions, for sure. But it also offers spectacular mountain scenery, wildlife and — for those who make an effort to come for a multinight stay — wonderful hiking, kayaking and other outdoorsy pursuits.
Related: How to find the right Alaska cruise for you
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Getting to Glacier Bay
As noted above, most of Glacier Bay’s visitors arrive by cruise ship. The typical cruise that includes a visit to Glacier Bay is a seven-night Alaska voyage out of Vancouver, British Columbia, or Seattle that also includes stops at the Alaskan towns of Juneau, Skagway and Ketchikan. The visit to Glacier Bay fills just one day of the seven-night trip.
Two major lines with historic ties to the park — Princess Cruises and Holland America — offer the most sailings with a visit to Glacier Bay. The National Park Service allows just two ships a day into the park, and arrivals are governed by a permitting system that gives preference to lines that operated in the park before the permitting system began.
Norwegian Cruise Line, Seabourn, Cunard Line and Viking also have ships that visit the park, as do small-ship operators UnCruise Adventures, Alaskan Dream Cruises, Lindblad Expeditions and American Cruise Lines.
A trip on a cruise ship isn’t the only way to get into Glacier Bay. Would-be visitors can also fly or take a ferry to Gustavus, a tiny town (population 642) on the edge of the park near the access point for a tour boat that travels into the park daily. Dubbed Baranof Wind and operated by park concessionaire Aramark, the tour boat departs from Bartlett Cove, which is just inside the park boundary and the home to the park’s visitor center.
During the summer tourist season, Alaska Airlines offers daily service to Gustavus Airport (GST) from Juneau International Airport (JNU), 48 miles to the southeast. An air taxi company, Alaska Seaplanes, offers small-plane flights to Gustavus from Juneau year-round. Ferry service to Gustavus is through the Alaska Marine Highway System, which sends a ferry to the town regularly from Juneau.
The two main airlines that fly to Juneau are Alaska Airlines and Delta Air Lines.
Park visitors also can arrive at the park by private or chartered boat.
Related: How to get to Alaska with points and miles
When to go
While Glacier Bay is open year-round, visitor services are extremely limited outside of the summer season, and nearly everybody who visits comes between May and September.
Most cruises that include a stop in Glacier Bay take place between April and September, and the Glacier Bay tour boat only runs in the summer months. The park’s visitor center and only lodge (Glacier Bay Lodge), which share a building, also are open only in the summer.
Summer is the most pleasant time to be in Glacier Bay, temperature-wise. But even at the height of summer, it can be chilly, with temperatures topping out between 50 and 60 degrees during daylight hours. Rain is also common, with the area around Gustavus getting around 70 inches a year.
April, May and June are often the driest months. September and October tend to be the wettest. The bottom line is that, even at midsummer, you should be prepared for any sort of weather. Pack good rain gear, waterproof boots, wool or fleece layers and a warm hat and gloves.
No matter when you go, there’s no fee to enter Glacier Bay, which is unusual for national parks. Nor are there fees for camping or boating permits. So you can leave your national park annual pass at home.
Related: Best time to cruise Alaska
What to see and do
As the name suggests, Glacier Bay is a park all about glaciers. It’s home to more than 1,000 of them, and seeing a glacier up close is the big draw for most visitors.
Specifically, tourists come to view one of the park’s seven-ish giant tidewater glaciers, which flow down from the mountains to the water. I say seven-ish as the park’s rangers in the past couple of years have noted that some of the tidewater glaciers have melted back so much that they may not be interacting with the ocean water anymore. That’s the definition of a tidewater glacier. The park rangers these days like to say there are “no more than seven” of the tidewater glaciers now, maybe fewer.
The reduction in the number of tidewater glaciers at the park is an ongoing trend. When I wrote an earlier version of this guide a few years ago, the number of tidewater glaciers at the park was nine.
Whatever the exact number, for those visiting Glacier Bay by cruise ship, the experience will revolve heavily around a stop at one of these glaciers to watch giant chunks of ice crash down from its face — a magnificent show.
Cruise ships arrive in the park for the better part of a day, and the experience goes beyond a stop at one of the park’s glaciers. Sightings of puffins, harbor seals, Steller sea lions and even the occasional humpback whale or brown bear are part of the allure — all while traveling by water through an immense, glacier-carved landscape.
If you come on a big cruise ship, you’ll be doing your Glacier Bay viewing from the deck of your vessel. Big cruise ships in Glacier Bay never dock, and nobody gets off them. Still, you’ll get the full National Park Service experience. Park rangers and often a local Huna Tlingit cultural guide will board the vessel for the day to offer presentations and shipwide commentary over loudspeakers, lead activities for kids and answer questions.
Some small cruise vessels that spend the night in Glacier Bay do allow passengers to disembark.
For those visitors who travel by plane or ferry to Gustavus, more options are available. In addition to taking the Glacier Bay Day Tour up the bay on the park tour boat ($262.44 per adult; $137.11 for children ages 3 to 12), visitors will find opportunities to hike, kayak and camp.
The day tour on the park tour boat includes stops at two glaciers — Margerie and Grand Pacific. Each towers nearly 250 feet above the ocean and stretches another 100 feet beneath the water. The ice that calves from their faces is, on average, 200 years old.
Hiking trails within the park near Gustavus range from the 1-mile Forest Trail, which offers a leisurely meander through a lush forest, to the 8-mile-long Bartlett Lake Trail, a rugged trek to a tranquil lake. Most visitors head down one of the trails on their own, but for those looking for interpretation, park rangers based at Bartlett Cove offer a daily guided forest loop walk (at 1:30 p.m., as of the publication of this story).
Kayak rentals are available at Bartlett Cove, where the park service visitor center is located, for both day trips around the area and multiday outings deep into the park. Kayakers can go off on their own or sign up for a guided tour.
Birdwatching also is a popular activity in Glacier Bay. The park’s diverse habitat allows for a wide variety of species (at last count, 281), including rainforest species such as the American three-toed woodpecker and neotropical migrant warblers, thrushes and other songbirds. There also are island and cliff seabird colonies of gulls, guillemots, puffins and cormorants.
In addition, daily cultural activities are available at Xunaa Shuka Hit (the tribal house) in Bartlett Cove. Unveiled in 2016, this is the first permanent Huna Tlingit clan house since the original Huna Tlingit villages of the area were destroyed by a glacier over 250 years ago. Located within a short walking distance of Glacier Bay Lodge, it offers the chance to learn firsthand about Huna Tlingit history, culture and life from tribal elders. Visitors can also experience dance performances and native foods and see historical photographs. Hand-carved totem poles tell the Huna Tlingit story.
A National Park Service visitor center is located on the second level of Glacier Bay Lodge. Park rangers are available much of the day to answer questions, and films on the park are available for watching in the visitor center’s auditorium. A ranger program is presented in the auditorium each evening.
Visitors also can get an overview of Glacier Bay’s mountains, ice and water from a flightseeing tour out of Gustavus or even the Alaskan towns of Yakutat or Haines.
Where to stay
If you’re arriving at Glacier Bay on a cruise, you don’t have to worry about a place to stay. You’ll be spending the night on your ship.
Those planning to visit the park by way of Gustavus will find several places to bed down. Many visitors stay at the 48-room Glacier Bay Lodge, which is within the park about 10 miles from the town (rooms from $270.40 a night). Cozy and rustic, the lodge is nestled among Sitka spruce on the shores of Bartlett Cove, which also is home to the park’s headquarters and the jumping-off point for daily tours on the park boat. Glacier Bay Lodge is the only lodging within the park.
Back in Gustavus, you’ll find a handful of small inns, guesthouses and bed-and-breakfasts. They include the 14-room Bear Track Inn (from $495 per person per day, including meals and ground transportation) and the five-room and five-cabin Glacier Bay Country Inn ($319 per person per day, including meals and ground transportation). Gustavus is not a big place; some venues here offer just a few rooms.
You also may face a bit of sticker shock when seeing the rates for lodging in Gustavus. In many cases, this is driven by the fact that the properties operate on a semi-all-inclusive basis, with all meals and transportation from the airport included in the base price.
Unfortunately for points and miles devotees, there are no points hotels in Gustavus. You can find a few points hotels back in Juneau, such as the Four Points by Sheraton Juneau (rooms in the summer start at $389, or 50,000 points) and a trio of Wyndham Rewards-affiliated properties (a Ramada, Travelodge and Super 8).
The park also maintains a free, walk-in campground in a rainforest setting at Bartlett Cove. Available on a first-come, first-served basis, it offers bear-proof food storage caches, composting toilets, a fire pit on the beach and a small warming shelter. Firewood is provided.
That said, most camping in Glacier Bay takes place in the wilderness. The park offers more than 700 linear miles of shorelines, beaches and islands open to camping. Campers can arrange for the park’s tour boat to drop them off at one of several designated locations within the park and pick them up days later.
Campers must register upon arrival at the Visitor Information Station near the Bartlett Cove dock. Campers can call 907-697-2627 prior to arrival to inquire about space availability at the campground at Bartlett Cove.
Related: How to use points and miles to stay near national parks
Where to eat
Again, if you’re arriving by cruise ship, you’ll be eating on board your vessel.
If you’re staying in the Gustavus area, you’ll probably be eating at the lodge or inn where you’re staying or at another one of the lodging properties in town. The town is so small that its dining establishments generally are tied to its lodging outlets. They’re also only open in the summer.
Many of the lodging options offer a “full board” plan that includes three meals each day. Be warned that a la carte pricing at eateries can be high in the Gustavus area, as is true in many places in Alaska. This partly has to do with the high cost of getting supplies to remote parts of the state.
For those staying at Glacier Bay Lodge, the in-house restaurant, the Fairweather Dining Room, is open for breakfast, lunch and dinner for both lodge guests and outsiders. The dinner menu includes local Alaska salmon and halibut. Lunch brings burgers and sandwiches (including a halibut sandwich).
Also open to guests and outsiders is the restaurant at Glacier Bay Country Inn. It serves Alaskan cuisine, such as salmon, typically offered en croute with a green peppercorn sauce.
Bottom line
A visit to Glacier Bay is one of the iconic experiences of a trip to Alaska, and something you should try to do at least once in your life — if only to see the giant calving glaciers. For most visitors, experiencing the park will involve a voyage on a cruise ship that brings just a day in the park. But for those who want to explore deeper in the park, there are ways to do that, too.
Planning a cruise to Alaska or elsewhere? Start with these stories:
Florida has a special place in many people’s hearts. You’ve got the beach, the weather and the laidback vibes that fill the state. Among all the popular Florida cities, Orlando is one that tends to stand out. Not only is it more affordable than some other Floridian cities, but it also has a strong job market and plenty of entertainment options. Those are some pretty good reasons to move to Orlando.
So, if you’re a fan of a certain celebrity mouse and are ready to call The Sunshine State home, consider Orlando.
1. You can probably afford to live here
Although not everywhere in Orlando is cheap, the overall cost of living in the city makes it a pretty affordable place. While rent is a little on the high side, expenses like healthcare and utilities sit below the national average.
When it comes to housing, the rental market is seeing slight increases over last year and average rents are on the higher side when compared to other cities in Florida. In Orlando, the average one-bedroom rent is up 8 percent at $1,793 per month, while two-bedroom rent is up 11 percent at $2,215 per month.
2. The neighborhood selection is sweet
Orlando is a great place to live because you have options. There are plenty of neighborhoods that have housing, entertainment and the overall quality of life you’re looking for. At almost any price point, there’s an Orlando neighborhood for you, but some of the favorites include:
Park Lake / Highland is full of bars, restaurants, coffee shops and parks. It’s located a little north of downtown and is a big draw for young professionals.
To the south, Thornton Park is an eclectic and chic part of Orlando. Here you’ll find a local farmers market, regular art and wine walks and a tight-knit community that likes to throw a block party.
On the east side, Audubon Park is perfect for nature lovers who want a thriving, like-minded community. Here, you’re encouraged to grow your own food, and even plant fruit trees in your yard. The neighborhood also has excellent shopping.
For those who want to live near the theme parks, Park Central, on the west side of town, is a gated community, conveniently located to public transportation for easy mobility
These neighborhoods all surround Downtown Orlando, which also draws in its share of residents. This is the central business district of the city, but it’s also known for its nightlife, festivals and access to cultural activities.
3. There’s a lake in the middle of Downtown
You may think about the beach when picturing your future home in Florida, but when it comes to Orlando, it’s all about the lakes. There’s even one smack in the middle of downtown.
Lake Eola is the perfect water feature to have in your backyard. You can rent swan boats to paddle through the water, catch a concert at the amphitheater or simply enjoy the flowers and the Orlando skyline. You can also walk around the entire lake easily. The path is a 0.9-mile loop.
If you’re looking to live right on the lake, check out listings in Lake Eola Heights.
4. Sun, sun, sun
Yes, the summers are long and hot. Temperatures can climb into the 90s, and you don’t have that ocean breeze to cool things down. But, the city gets more than 300 days of sunshine per year, and the average high is only 82 degrees Fahrenheit.
Winter is short (and sunny) and the coldest month is usually January, where average temperatures drop to a “whopping” 72 degrees Fahrenheit.
5. Hospitality, technology and business
Three major industry hubs in Orlando provide ample jobs and career stability. Although hospitality is at the top, with employers like Disney and JetBlue, you can also find opportunities elsewhere.
There are plenty of jobs in the educational field, and it’s quickly becoming a popular location for startups. EA Games and other tech employers are also bringing in a savvy crowd, creating even more opportunities.
This level of potential when it comes to employment puts the median household income in Orlando at a solid $55,183.
6. No state income tax
Once you settle into that perfect job, you won’t have to worry about the amount of money getting taken out of your paycheck. Florida is a zero-income tax state, which means working in Orlando puts more money into your pocket.
Even better, there’s a relatively low sales tax rate, so when you do spend money, markups are lower. Florida itself has a six percent rate, and Orlando only adds a little bit to this minimum, raising the local sales tax rate to 6.5 percent.
7. The ‘Happiest Place on Earth’ is right there
Calling Orlando the city of theme parks, while not an official nickname, isn’t wrong. Access to so many parks is one of the prime reasons to move to Orlando for those who like to spend their weekends on rollercoasters or singing “It’s a Small World After All.”
Within miles of each other, you’ve got Disney World, Universal Studios and SeaWorld. Less than an hour away, in Winter Haven, you also have LEGOLAND Florida.
Even better, most parks provide discounts for Florida residents, so you can visit the parks even more often. Disney, for example, has a resident Disney Pixie Dust Pass, that’s only a little over $400 per year.
8. You can go to Gatorland
Technically another theme park, this special place is unlike those better-known spots. Gatorland, the self-dubbed “Alligator Capital of the World,” is home to alligators and crocodiles of all sizes and ages. There’s even a group of rare white gators.
In addition to the reptiles, Gatorland sports an aviary, petting zoo, animal shows and a few rides. It’s real fun, Florida-style.
9. So many pro sports teams
Having multiple sports arenas in the downtown area alone makes a big statement that Orlando cares about its athletic teams. You’ve got the Orlando Magic when it comes to professional basketball and the Orlando City SC and Orlando Pride pro soccer teams. Even hockey happens in this warm state — Orlando has the Solar Bears, a member of the ECHL hockey league.
College sports are big here, too, and many locals like to cheer on the University of Central Florida Knights
10. Festivals happen on the regular
Who doesn’t like a celebration? Orlando locals love them so much that there are festivals happening almost on a weekly basis. You’ll need a separate calendar just to keep track of them all, whether they’re big and well-known or small and special.
Some favorites include:
The Orlando Fringe Theatre Festival
The Zora! Festival
Epcot International Food & Wine Festival
Orlando Whiskey Festival
Dragon Parade Lunar New Year
Festivals celebrate cultures, holidays, music and food and drink, making it possible to honor just about anything with a city-wide party.
11. Museums, galleries and gardens galore
Theme parks are most definitely great, but Orlando is also home to a wealth of museums, art galleries, theaters, gardens and historic homes. If Mickey and Minnie aren’t your things, spend your time immersed in art, culture and natural beauty.
When it comes to museums, you can visit the Orlando Science Center or The Orlando Museum of Art. Both the Mennello Museum and The Charles Hosmer Morse Museum celebrate American Art, while the Hannibal Square Heritage Center focuses on Florida’s African American communities.
For a taste of the local scenery, walk through the Harry P. Leu Gardens or the UCF Arboretum. The trail system in the Tibet-Butler Preserve winds through the region’s major habitats, including a cypress-lined lakeshore and longleaf pine forest.
12. Pie, fresh fish and Florida citrus, oh my!
There are so many delicious reasons to move to Orlando, and most of them involve fruit. There’s the key lime pie, Meyer lemons and anything made with oranges. Beyond that, local cuisine includes fresh stone crab, conch, grouper and almost anything you can pull out of the ocean.
For a real local treat, make sure to grab a Dole Whip on a hot day. This is a Disney World staple, but its pineapple-y, frozen goodness has turned it into one of Orlando’s iconic foods.
High-end restaurants and local dives alike will all have their take on Orlando’s signature foods, meaning you can get fresh fruit and fresh seafood at any price point.
13. Public transportation is an option when needed
While not a highly walkable city, Orlando does make it possible to get around to certain places without a car, potentially saving you a little money when it comes to transportation.
You can ride the LYNX busses which go through a large number of neighborhoods, and make a few Disney-adjacent stops. If you’re just focused on getting around the downtown area, you can hop on the LYMMO. For longer trips, SunRail is an electric commuter rail that runs through Central Florida.
All of these options, and no need to find parking? Yes, please.
14. You can go to the beach whenever you want
Even though Orlando isn’t on the coast, the closest beachfront is only an hour away. You can shoot down to Cocoa Beach when you need to catch some rays and hear those soothing ocean waves. It’s the closest beach to Orlando but not your only option.
Also about an hour away from Orlando are New Smyrna Beach and Flagler Beach, two picturesque destinations for a break from the city.
15. You’ve got road trip options
Orlando is also perfectly located within Florida to make road tripping easy. You can hop in the car any weekend and explore other cities for the day. Some of the closest stops are:
St. Augustine for the Fountain of Youth
Daytona Beach for a little race car action and some fun in the surf
Fort Lauderdale for a little high-end fun
Tampa with its eclectic food and drink scene and its own collection of theme parks
There are also plenty of state parks just a short drive away, including Blue Spring State Park where you can have a close encounter with a manatee.
Making the move to Orlando
It’s easy to see why Orlando is such a popular place. With so many reasons to move to Orlando, how can the city not top your list of options? From a reasonable cost of living to more fun than you can shake a stick at, this is the sunshiny paradise that will make almost anyone feel like they hit the hometown jackpot.
Northwestern Mutual Study Finds Americans Who Carry Personal Debt Owe an Average of $21,800 Exclusive of Mortgages Overall average is $8,000 lower than it was in 2019, but 35% of Americans say they’re carrying close to or at their highest level of debt ever while 43% say their debt is close to or at a … [Read more…]
With great weather, friendly people and enough museums and historic spots to keep you busy for months, Raleigh is a great place to live. Known as the City of Oaks thanks to its trees, what pulls people in is the warm atmosphere you’ll find throughout the city.
The cost of living is another reason people like living here. Overall, living in Raleigh costs 3.8 percent less than the national average. This puts the city smack in the middle of North Carolina towns, with places like Chapel Hill being 6.1 percent more, and Thomasville being 14.2 percent less.
Sitting below the national average can make Raleigh a pretty affordable town. But the best way to calculate if the city will fit into your budget is to break down the cost of living in Raleigh into its most essential parts.
Housing costs in Raleigh
Although housing prices in Raleigh are rising by a decent amount, overall costs are still 3.5 percent below the national average. Again, this hits a more middle range when looking across the state. Costs are nowhere near as high as in Chapel Hill, at 18.7 percent above the national average, but they’re also not as low in places like Winston-Salem at 23.1 percent below.
Looking at specific rent averages, you’ll most likely find Raleigh somewhere between reasonable and slightly high. A one-bedroom apartment in Raleigh is up 12 percent, with an average monthly rent of $1,520. A two-bedroom apartment is up a little less, at only 10 percent, and has an average monthly rent of $1,759.
Home prices are increasing at a similar rate for those who want to bypass being a renter. The median sale price in Raleigh is $410,000, up 12.5 percent over last year.
Apartment hunting
Deciding where to live in Raleigh can depend on a lot of factors. You may want to live close to your job or prefer a suburb over a more urban neighborhood. Regardless of your amenity wish list or rental parameters, Raleigh offers up plenty of friendly, comfortable neighborhoods at multiple price points.
For those with a little extra money to spend on rent, Glenwood tops the list when it comes to cost. The average one-bedroom here is $2,269. Also toward the higher end when it comes to renting is North Hills. One of Raleigh’s fastest growing areas, North Hills is full of good schools, great shopping, plenty of parks and popular restaurants and entertainment. The average one-bedroom apartment here is $1,923.
For neighborhoods closer in price to the average, check out Wakefield. One-beds here rent at an average of $1,578. Locals love this suburban neighborhood with its easy access to the city center. Also relatively affordable, Downtown Raleigh averages out at $1,619 a month for a one-bedroom apartment. That will definitely keep you close to all the city’s happenings.
If you need to save a little on rent, check out Cameron Village. This popular, affordable neighborhood has it all, and it’s all within walking distance. Situated near North Carolina State, you’ll also find a lot of college students close by. The average one-bedroom rent here is $1,304.
Food costs
Yet another city that excels at Southern cuisine, Raleigh is famous for a variety of classic main dishes and sides. This includes everything from the city’s unique style of barbecue to the hush puppies and collard greens you might pair with that rack of ribs. You may also want to try some juicy fried chicken or shrimp and grits when dining out in Raleigh.
When it’s time to dine in and get that shopping list ready for the grocery store, it’s good to know items are 8.3 percent below the national average. Even though this is a slight increase over the previous year, prices for individual food items should still average out on the more affordable side.
For example, you’ll pay an average of $1.76 for a dozen eggs and $2.04 for a half gallon of milk. A loaf of bread carries an average cost of $3.34, while a frozen meal is about $3.12. Individually, grocery items in Raleigh are less expensive, on average, than in other North Carolina towns. In Winston-Salem, a dozen eggs are $0.78 more, and you’ll see that same price increase in Charlotte when it comes to a loaf of bread.
Utility costs
Pleasant is an appropriate word to describe Raleigh weather on most days. Yes, the summers can get a little hot and humid, and yes, some winter nights are cold, but overall, the weather here is the kind that calls to you to get outside and encourages you to let the fresh air into your home.
That said, the cost of living in Raleigh when it comes to utilities is a little high. This is thanks to those 90-plus-degree days in July and the frosty January nights. Overall, utility costs are 3.2 percent above the national average, a 3.1 percent increase over last year.
While some months may test your budget when it comes to your electric bill, on average, expect to pay $193.76, one of the highest averages across the state.
Transportation costs
Though there are some walkable spots in Raleigh, for the most part, getting around in the city will require a car or proximity to public transportation. Overall, transportation costs are affordable at 10.7 percent below the national average. This, once again, puts Raleigh toward the middle when compared with other cities in North Carolina, sandwiched in by Charlotte (1.6 percent more) and Salisbury (0.7 percent less.)
If you opt for public transportation, you’ll get to hop on a GoRaleigh bus. There are 26 regular and express routes, a free downtown circular and the Wake Forest Loop, which travels in both directions. A single-ride fare is $1.25, but passes are also reasonably priced. You can get a day pass for $2.50, a seven-day pass for $12 and a 31-day pass for $40.
Taking your own car out and about most likely means paying for parking at some point, especially if you’re heading in or near downtown. Raleigh makes it easy to find parking options. Parking garage prices will vary, but most meters will cost no more than $1.50 per hour.
Healthcare costs
The cost of living in Raleigh when it comes to healthcare is 4.2 percent above the national average. This is a 4.1 percent increase over last year, but healthcare across the state is higher than average in most cities.
This can mean higher prices when it comes to doctor’s visits and prescription medications, however, everyone’s specific budget greatly depends on insurance coverage and overall health. Knowing averages can help estimate costs, but everyone will have a different cost of living expense when it comes to maintaining their health.
That said, without insurance, expect to pay $122.50 on average to see your general practitioner, $119 for each trip to the eye doctor and $116.33 at the dentist. Average prescription drug costs, without the help of insurance, are $498.
Goods and services costs
This broad category makes up a huge section of your cost of living in Raleigh. It’s where all the fun things go, and all the regular things you may want, but don’t necessarily need.
In Raleigh, goods and services costs are 3.2 percent below the national average. Winston-Salem has the highest numbers in North Carolina at 5.9 percent above the national average, so Raleigh is a lot more reasonable.
This could make it easier to plan a night out full of fun, starting with a six-pack of beer you buy to enjoy with a few friends before going out. You’ll pay an average of $9.49 for that. Next, you decide to catch a movie. A ticket will cost an average of $12.51. Afterward, you all decide you’re hungry so you go out for burgers. At an average price of $4.49, this will be the least expensive piece of your night.
There are also goods and services that don’t involve happy hour and hanging out with friends. In Raleigh, the average yoga class is $18.40, and most locals spend around $14.92 on dry cleaning.
Taxes
Sales tax across North Carolina varies by location. The state requires a 4.75 percent tax, but Raleigh adds on both a county tax and a special tax. This brings the Raleigh sales tax rate up to 7.25 percent. This is higher than the average tax across the state, and only slightly below cities like Chapel Hill, which at 7.5 percent, has the highest rate.
How does this impact what you pay when you shop? Well, say you’re out buying furniture for your new apartment. You spend $1,000 on a new couch. Of that grand, $72.50 goes straight to taxes.
How much do I need to earn to live in Raleigh?
Making enough to live comfortably in Raleigh is a huge component of happily calling the city home, and this all starts with rent. If you can afford rent, you can technically afford to live in Raleigh. But, if you don’t want your entire budget to go to this expense, make sure you use our rent calculator to figure out exactly what you can afford.
Looking at the average cost of a one-bedroom apartment in the city ($1,517) and assuming you want to follow what most experts suggest and only spend 30 percent of your annual income on rent, you’ll need to make $60,680 to live in Raleigh.
This is entirely plausible given that the median household income in Raleigh is $69,720. That means you may even have a little money left over to upgrade your living situation or splurge in another part of your monthly budget.
Free things to do
Of course, one great way to save money, should you need to make some budget cuts, is to seek out all the free fun Raleigh has to offer. Sometimes considered the “home of the free” by locals, there’s a considerably large number of free attractions throughout the city, from parks and lakes to museums.
For free fun outdoors, check these spots out:
With 22 miles of hiking trails and a hanging bridge that’s so much fun to cross, William B. Umstead State Park does not disappoint
Perfect for bird-watching and hiking, the Carl Alwin Schenck Memorial Forest contains 245 acres of managed woods
Featuring more than 6,000 different types of plants from around the world, the J.C. Raulston Arboretum has one of the largest and most diverse collections of Southeastern greenery
For fishing, sailing, canoeing or kayaking, make sure to visit the 650-acre lake at Lake Wheeler Park
To stop and smell the roses, check out the 60 different varieties in the Raleigh Rose Garden
For a free cultural experience, visit these great places:
Although you can take classes for a price, Downtown Raleigh’s Artspace features access to exhibits from national and community artists
Get to know the athletes that called North Carolina home by visiting the North Carolina Sports Hall of Fame
Hop in the car and head a little north to the Wake Forest Historical Museum where you can learn all about the town of Wake Forest, as well as the history of Wake Forest College
For another community experience, visit the Cary Heritage Museum and see a complete chronicle of the town’s history
What’s even better, the North Carolina Museum of Art (permanent collection only), North Carolina Museum of History and North Carolina Museum of Natural Sciences are all also free to visit.
Living in Raleigh
Raleigh is a friendly and mostly affordable place set in perfect Southeast weather. It has so many positives, from delicious food to a ton of free activities. Are you convinced yet that it’s the perfect place to live? Good. Now, you just need to make sure your budget agrees.
The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of August 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.
The average 30-year-fixed mortgage rose seven basis points to 3.05% for the week ending Oct. 14, to its highest level since April, according to Freddie Mac’s latest PMMS survey of mortgage rates.
Two weeks ago, rates rose 13 basis points to 3.01%, eclipsing the 3% mark for the first time since June. However, last week, rates fell to 2.99%. Mortgage rates typically move in tandem with the 10-year U.S. Treasury yield, which was 1.56% for Oct. 14.
Sam Khater, Freddie Mac’s chief economist, said in a statement that “as inflationary pressure builds due to the ongoing pandemic and tightening monetary policy, we expect rates to continue a modest upswing.”
Mortgage rates have been kept low in part because of the Federal Reserve’s massive monthly purchases of $120 billion in U.S. Treasury bonds and mortgage-backed securities. The central bank has signaled that will eventually come to an end, however, and it is expected to begin to taper off its purchases when substantial further progress is made in the labor market.
Although rates remain at historic lows for now, market observers do expect rates to climb upward, eventually. Even a modest increase in rates could deter borrowers from seeking to refinance their mortgages.
How fine-tuning MSR valuations can help lenders improve decision-making
As rates change and the market shifts to a more purchase-driven origination environment, lenders need to carefully monitor margins and profitability. If we’ve learned anything in the past year, it’s that operational flexibility and accurate servicing valuation are key to lending profitability.
Presented by: Black Knight
A year ago at this time, the 30-year fixed-rate mortgage averaged 2.81%. The 15-year fixed-rate mortgage averaged 2.30% last week, up from the prior week, when it averaged 2.23%.
“Historically speaking, rates are still low, but many potential homebuyers are staying on the sidelines due to high home price growth. Rising mortgage rates combined with growing home prices make affordability more challenging for potential homebuyers,” Khater said.
Mortgage application activity has also been largely flat. The latest mortgage application survey from the Mortgage Bankers Association (MBA) showedapplications overall increased just 0.2% for the week ending Oct. 8, compared to the prior week.
Joel Kan, MBA’s associate vice president of economic and industry forecasting, said that an increase in home purchase applications, which was a “welcome news,” offset a slight decline in refinances.
From its historic neighborhoods to its parks and rivers, Fort Wayne is full of surprises. This Indiana town has one of the country’s best zoos and a number of popular museums. Considered one of the most affordable cities in Indiana, paying less for rent could mean you’ll have a slightly bigger budget to explore the city and find your favorite spots.
Here’s what some Fort Wayne locals are saying about the best places to check out in Summit City.
1. Five Lakes Coffee, The Perk and Mocha Lounge
Source: facebook.com/Five-Lakes-Coffee
Ask locals about their favorite hidden gem and many are quick to point to a coffee shop. In the Northwest area of town, you can stop in at Five Lakes Coffee for a cup of Joe as one option.
Christine Miller of Christine Danae Photography has trouble narrowing down her favorite coffee spots. Though, two notable frontrunners are The Perk Coffee House and Mocha Lounge. The Perk provides, “fantastic coffee and a fabulous environment to meet up with people and get work done,” says Miller. Mocha Lounge also has fantastic coffee and a “great atmosphere.”
2. Sassie Cakes
Source: facebook.com/SassieCakesFW
There’s nothing like a solid dessert place, and Hope Denton of Hope Denton Photography LLC recommends Sassie Cakes. Located right in Downtown Fort Wayne, this custom cake shop also features regular in-store treats like sandwich cookies, macarons and cookie dough shots.
“Sassie’s has the best cakes I have ever tasted, and is sure to wow you!” says Denton. Her favorite is red velvet.
3. Sweetwater
Source: facebook.com/sweetwater
For Paul Smith of Five Lakes Coffee, a favorite stop in the city is Sweetwater. This music megastore has its own hidden gem inside. It’s the acoustic guitar room, where Smith loves the sounds.
4. The Fort Wayne Children’s Zoo
Source: facebook.com/fwkidszoo
To make your exploration of Fort Wayne family-friendly, Amy DeLap of Kiss My Grass Soapery is quick to pick a trip to the Fort Wayne Children’s Zoo as a fun way to spend the day.
Also located in the northwest section of Fort Wayne, the Zoo features African, Australian and Indonesian sections in addition to the central zoo. There are also a few rides, animal keeper chats and special animal experiences, including the opportunity to feed a stingray.
5. Watch the Tin Caps
Source: facebook.com/tincaps
Mark Smith of The Light House Coffee Bar recommends catching a Tin Caps game to really experience the true heart of this city. This minor league baseball team plays in Parkview Field downtown.
6. Fort Wayne’s Famous Coney Island
Source: facebook.com/FortWayneConeyIsland
While Coney Island is known as a New York City amusement park, in Fort Wayne, it’s a locally -loved restaurant. More than that, Fort Wayne’s Famous Coney Island is the oldest coney stand in the country, opening its doors in 1914.
The menu hasn’t changed much in the last 100+ years either, and the restaurant sells hundreds of hot dogs each day along with burgers, chili and pie.
7. The Parks
Within the city limits, you’ll find the convergence of the St. Marys River, the St. Joseph River and the Maumee. Fort Wayne naturally lends itself to outdoor activity. Along the riverfront, you have access to boat tours and river excursions along with self-guided kayaking, canoeing and paddle boarding. There are also plenty of river-side hiking and bike trails.
Fort Wayne has no shortage of parks to enjoy as well. Some local favorites include:
The Foellinger-Freimann Botanical Conservatory is yet another spot in Fort Wayne to connect with nature. Located in the city’s Southwest area, the Conservatory features seasonal flowers and plants beside a tropical garden, desert garden and more.
Other hidden gems across Fort Wayne
Source: facebook.com/brassrailfw
Suggestions for other hidden gems in Fort Wayne can really help you find places that cater to your interests. The city’s diverse assortment of restaurants, music venues, bars and more allow anyone to enjoy their favorite pastime. Our local experts had a diverse assortment of recommendations to share.
For foodies:
Cebolla’s Mexican Grill — a recommendation from Lori Eddy of Coutour Cottage, has multiple locations around town. That gives you options when you’re craving burritos, enchiladas, quesadillas or any of the restaurant’s specialties.
Paula’s on Main — a casual restaurant and seafood market in the Nebraska neighborhood.
Nawa — a locally-owned Thai restaurant with signature dishes and drinks to excite the palate.
Asakusa — the first sushi bar in Fort Wayne, with sushi, teriyaki, tempura, katsu and many other Japanese specialties.
For entertainment seekers:
The Clyde — live music, comedy and performance venue
Brass Rail — a live music venue specializing in rock music
For beer drinkers
Henry’s – wood-adorned pub-style tavern that serves American food
Deer Park Pub — an Irish pub with a unique character entirely its own
Hop River Brewing Company — a brewery beside Lawton Park specializing in true-to-style beers
Where to next?
Find the Fort Wayne hidden gem for you
Not entirely convinced that a mid-size Midwestern city has enough to offer? Get out there and check it out yourself. The variety of activities and emerging small business scene make Fort Wayne a city that you need to experience for yourself. If you stop by one of the hidden gems on this list, tell them we sent you!
Lesly Gregory has over 15 years of marketing experience, ranging from community management to blogging to creating marketing collateral for a variety of industries. A graduate of Boston University, Lesly holds a B.S. in Journalism. She currently lives in Atlanta with her husband, two young children, three cats and assorted fish.
Mortgage rates fell below 3% in the week ending November 10, according to the latest Freddie Mac PMMS mortgage report.
The 30-year fixed-rate mortgage declined to 2.98% last week, falling 11 basis points from 3.09% the week prior. A year ago at this time, the average 30-year fixed-rate loan averaged 2.84%.
“Despite the re-acceleration of economic growth, the recent bond rally drove mortgage rates down for the second consecutive week,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “These low mortgage rates, combined with the tailwind of first-time homebuyers entering the market, means that purchase demand will remain strong into next year. However, affordability pressures continue to be an ongoing concern for homebuyers.”
The decline in rates has also led to a surge in refinancings. According to the Mortgage Bankers Association, the refi index rose 7% for the week ending Nov. 5. Although overall activity remains close to January 2020 lows, homeowners were spurred to act on the decrease in rates, he said.
Mortgage rates have remained low in large part due to the Federal Reserve’s massive monthly purchases of $120 billion in U.S. Treasury bonds and mortgage-backed securities. The Fed has said that it’s satisfied that substantial economic progress has been made in the labor market and will begin tapering its asset purchases later in November.
Lenders – Now is the time to prioritize lead generation
HousingWire Editor-in-Chief Sarah Wheeler and Deluxe Senior Business Development Executive Mark McGuinn discuss the challenges lenders are facing to optimize lead generation, even as mortgage rates continue to change.
Presented by: Deluxe
Although rates remain close to historic lows, market observers do expect rates to climb upward, eventually. The MBA projects that by the end of 2022, mortgage rates will approach 4%.
Economists at Freddie Mac said the 15-year fixed-rate mortgage averaged 2.27% last week, down from 2.35% the week prior. It’s actually lower than it was a year ago, at 2.34%. Similarly, the five-year ARM dropped slightly to 2.53%, down one basis point from last week. A year ago, 5-year ARMs averaged 3.11%.
Our experts answer readers’ home-buying questions and write unbiased product reviews (here’s how we assess mortgages). In some cases, we receive a commission from our partners; however, our opinions are our own.
After falling moderately in June, mortgage rates have been climbing this month. Average 30-year mortgage rates hit 6.81% this week, the highest they’ve been in eight months, according to Freddie Mac.
“Mortgage rates continued their upward trajectory again this week, rising to the highest rate this year so far,” Sam Khater, Freddie Mac’s chief economist, said in a press release. “This upward trend is being driven by a resilient economy, persistent inflation, and a more hawkish tone from the Federal Reserve. These high rates combined with low inventory continue to price many potential homebuyers out of the market.”
The Federal Reserve has been raising the federal funds rate to get inflation under control. Though the central bank opted not to raise rates at its June meeting, Fed officials have indicated that future hikes are likely, as the economy is still running hot. This has helped keep mortgage rates elevated.
Markets largely expect a 25-basis-point hike at the Fed’s next meeting later this month, according to the CME FedWatch Tool.
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Mortgage Calculator
Use our free mortgage calculator to see how today’s mortgage rates will affect your monthly and long-term payments.
Mortgage Calculator
$1,161 Your estimated monthly payment
Total paid$418,177
Principal paid$275,520
Interest paid$42,657
Paying a 25% higher down payment would save you $8,916.08 on interest charges
Lowering the interest rate by 1% would save you $51,562.03
Paying an additional $500 each month would reduce the loan length by 146 months
By plugging in different term lengths and interest rates, you’ll see how your monthly payment could change.
30-Year Fixed Mortgage Rates
The average 30-year fixed mortgage rate is currently 6.81%, according to Freddie Mac. This is a 10-basis-point increase from the week before.
The 30-year fixed-rate mortgage is the most common type of home loan. With this type of mortgage, you’ll pay back what you borrowed over 30 years, and your interest rate won’t change for the life of the loan.
The lengthy 30-year term allows you to spread out your payments over a long period of time, meaning you can keep your monthly payments lower and more manageable. The trade-off is that you’ll have a higher rate than you would with shorter terms or adjustable rates.
15-Year Fixed Mortgage Rates
The average 15-year fixed mortgage rate is 6.24% right now, according to Freddie Mac data. This is an 18-basis-point increase from the previous week.
If you want the predictability that comes with a fixed rate but are looking to spend less on interest over the life of your loan, a 15-year fixed-rate mortgage might be a good fit for you. Because these terms are shorter and have lower rates than 30-year fixed-rate mortgages, you could potentially save tens of thousands of dollars in interest. However, you’ll have a higher monthly payment than you would with a longer term.
Are Mortgage Rates Going Up?
Mortgage rates started ticking up from historic lows in the second half of 2021 and increased significantly in 2022. But mortgage rates are expected to trend down this year.
In the last 12 months, the Consumer Price Index rose by 4%. Inflation remains elevated, but has started to slow, which is a good sign for mortgage rates and the broader economy.
For homeowners looking to leverage their home’s value to cover a big purchase — such as a home renovation — a home equity line of credit (HELOC) may be a good option while we wait for mortgage rates to ease. Check out some of our best HELOC lenders to start your search for the right loan for you.
A HELOC is a line of credit that lets you borrow against the equity in your home. It works similarly to a credit card in that you borrow what you need rather than getting the full amount you’re borrowing in a lump sum. It also lets you tap into the money you have in your home without replacing your entire mortgage, like you’d do with a cash-out refinance.
Current HELOC rates are relatively low compared to other loan options, including credit cards and personal loans.
How Do Fed Rate Hikes Affect Mortgages?
The Fed has been increasing the federal funds rate to try to slow economic growth and get inflation under control.
Mortgage rates aren’t directly impacted by changes to the federal funds rate, but they often trend up or down ahead of Fed policy moves. This is because mortgage rates change based on investor demand for mortgage-backed securities, and this demand is often impacted by how investors expect Fed hikes to affect the broader economy.
As inflation starts to come down, mortgage rates should, too. But the Fed has indicated that it’s watching for sustained signs of slowing inflation, and it’s not going to lower rates again any time soon — it may even increase rates again in its July meeting.
If you’re thinking about buying a home or refinancing an existing mortgage, you may have come across Eagle Home Mortgage on your journey.
They’re more likely to come up if purchasing a home since they are a direct mortgage lender owned by Lennar, which is now the nation’s largest homebuilder thanks to its acquisition of CalAtlantic in April 2018.
In short, Eagle Home Mortgage acts as the home builder’s financing department, though if you buy a home from Lennar you don’t have to use them.
It’s just that borrowers often use the builder’s finance department as opposed to an outside mortgage lender seeing that it’s the easiest and most obvious choice, and usually the path of least resistance.
There may also be some synergies to using affiliated companies, whether it’s a special incentive or just a faster loan process, knowing a home purchase with their builder is on the line.
In 2019, they provided home loan financing to more than 34,000 families looking to purchase a home. Let’s discover more about Eagle Home Mortgage.
Eagle Home Mortgage Fast Facts
Retail consumer-direct mortgage lender founded in 1981
Subsidiary of Lennar Corp., nation’s largest homebuilder
Company headquarters located in Miami, Florida
Closed more than 34,000 home purchase loans in 2019
More than 1,500 employees nationwide
A top-30 mortgage lender overall that specializes in new home purchase financing
Does most of their business in Florida and Texas
Where Is Eagle Home Mortgage Licensed?
First things first, you should make sure the company is actually licensed to do business in the state where you reside, or are purchasing a home.
Unfortunately, they are only licensed in less than two dozen states and not nationwide. This clearly has to do with Lennar and its communities, which are located in just 21 states.
As suspected, Eagle Home Mortgage is licensed in 21 states, including: AZ, CA, CO, DE, FL, GA, IL, IN, MD, MN, NJ, NV, NC, OR, PA, SC, TN, TX, UT, VA, WA.
Now if Lennar decides to build new homes in additional states, there’s a good chance Eagle Home Mortgage will move into those states as well.
So if and when you’re interested in buying a Lennar home, expect Eagle Home to be a potential mortgage provider.
Eagle Home Digital Mortgage and Eagle Express Close
You can apply online or by phone with their digital mortgage app powered by Blend
Or visit a local branch office if you prefer a face-to-face meeting
Use their loan officer directory if you’ve been referred to someone specific
And take advantage of their Eagle Express Close with e-signing capabilities to fund your loan quickly
The company has the tagline, “Paperless. Effortless. Awesomeness.” It’s in reference to their digital mortgage experience, which I assume is both fast and easy on the environment.
They say you can get pre-qualified in as little as 10 minutes via their digital mortgage process that is powered by fintech company Blend.
You simply fill out a loan application on their website as opposed to having a loan officer walk you through it. Of course, you can do that too if you need a helping hand.
Their digital process also allows you to link bank accounts and other financial information so it can be securely added to your application for more accurate figures and faster processing.
Those who are more old school have the option of using the company’s branch directory to find a local office for a phone call or face-to-face meeting.
And if you’re already working with someone or have been referred, you can use the loan officer directory on their website to find that individual.
When it comes to closing your home loan, Eagle Home also offers a digital process known as “Eagle Express Close” that includes online closings and remote signatures for documents.
You can review and e-sign many of your closing documents before attending your closing appointment, and download them instead of printing them all out.
The process can be faster while also giving you time to review everything with your loan officer, instead of feeling overwhelmed at the closing table.
Eagle Home Mortgage Loan Options
Mainly focused on home purchase financing but also offer refinance loans
Loan types include conventional and government (FHA, VA, USDA)
Offer fixed-rate mortgages and adjustable-rate mortgages in varying terms
Jumbo loans and reverse mortgages are also available
Their loan officers are well-educated on available down payment assistance (DPA) programs
Eagle Home Mortgage has tons of available loan options, including both conventional loans and government loans.
You can get a mortgage backed by Fannie Mae or Freddie Mac, or an FHA loan, USDA loan, or VA loan.
With regard to home purchase financing, their loan officers are well-versed in the many down payment assistance (DPA) programs that may be available via your local or state government.
Eagle Home Mortgage says it has many DPA options available to help customers become homeowners, seeing that down payment is often the biggest hurdle toward homeownership.
These may be in the form of a second mortgage (or even a third mortgage), or a grant that might not need to be repaid and can typically be used toward both the down payment and closing costs.
Those purchasing or refinancing a more expensive property can also get approved for a jumbo loan via Eagle Home Mortgage.
In the refinance department, they offer both rate and term refinances and cash out refinances, the latter of which can be used to tap into home equity if you need money for other purposes.
They also offer the “Student Loan Debt Mortgage Program,” where they will contribute up to 3% of the purchase price to pay off a borrower’s student loans when they buy a new home from Lennar.
Lastly, they offer reverse mortgages to borrowers aged 62 or older who wish to tap equity without taking on monthly mortgage payments.
The only loan options they seem to be lacking are renovation loans and home equity loan/line programs.
With regard to loan type, you can get a fixed-rate mortgage or an adjustable-rate mortgage with various loan terms, and they offer financing on primary residences, second homes, and investment properties.
They mostly seem to originate 30-year fixed mortgages, with some 15-year fixed mortgages and a smaller proportion of ARMs.
Eagle Home Mortgage Rates
In terms of how competitive they are, they don’t make many mentions of their mortgage rates or lender fees on their website.
However, they recently posted a limited-time promotion pitching “our lowest historic rate,” which was a 2.5% mortgage rate.
It’s unclear what type of mortgage it is, but I assume it’s a 30-year fixed since that seems to be their go-to loan program for their customers.
Now that promotion aside, I can’t say with any certainty how they stack up against other mortgage lenders out there.
Ultimately, you’d have to take the time to shop around. But as mentioned, many Eagle Home Mortgage customers are likely buying Lennar-built homes, so they may want to keep everything in-house, no pun intended.
Remember, you can always use an outside lender if buying a new home from a developer, so it’s wise to set aside some time for comparison shopping.
Eagle Home Mortgage Reviews
The company seems to be very well regarded, with a 4.94 rating out of 5 on Zillow based on roughly 1,600 reviews.
Many of the customer reviews indicate the interest rate was lower than expected, and lots say the fees/closing costs were also lower than anticipated.
So they seem to be well-liked and competitive pricing-wise, assuming these customers shopped around with other lenders.
While they aren’t an accredited business, they do have an A+ rating with the Better Business Bureau, which appears to be based on the lack of customer complaints currently filed against the company.
As always, customer experiences will vary, especially at a very large company. But as noted, their loan officers will likely be highly incentivized to close your loan if it’s also a Lennar-built home.
That means there’s a good chance they’ll do all they can to get your home loan to the finish line.
Eagle Home Mortgage Pros and Cons
The Good Stuff
Can apply directly online via a digital mortgage application
Lots of loan options and down payment assistance (DPA) programs to choose from
If also buying a home from Lennar they might be quick and dedicated to closing on time
Eagle Express Close allows you to e-sign many loan documents
Great customer reviews on Zillow
Free mortgage calculators on site
The Possible Bad Stuff
No mention of mortgage rates or lender fees
Not licensed in all states
No home equity loan products available
Might be better suited for purchases rather than refinances