Everyone has heard about historically low rates. But why are the rates so low and how do they fluctuate? If you’re keeping an eye on the housing market, possibly because you’re looking to buy, sell, or refinance, you’re aware that mortgage interest rates can fluctuate daily. There are many factors that cause rates to go up or down. If you’re able to watch these factors, you’ll be one step ahead when it comes to knowing the activity of interest rates.

The state of the nation’s economy is the biggest factor in determining interest rates, which are regulated and set (in the short term) by the Federal Reserve as a means of maintaining stability. The rates being manipulated by the Fed are those that banks charge from each other when money is borrowed; this rate change then passes down to the businesses and individuals who receive loans from the banks.

Generally, rates go up when the economy is doing well—when unemployment is low, businesses are doing well, and people are buying more. This is done in order to limit borrowing and keep the economy from growing too quickly, which tends to result in price inflation. Conversely, rates go down when the economy is doing more poorly, in order to stimulate consumers to borrow and spend, which will hopefully give the economy a boost. Some international economic situations may also affect national interest rates—recent debt crises in Europe, for example, or concerns in the oil-producing nations of the Middle East, can cause rates to rise or fall despite the domestic outlook.

A smart market observer will learn the many different types of situations that can affect the economy, and will act accordingly in terms of how they invest. The simple rule to remember is that borrowing when rates are high will leave you paying a lot more on interest.

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Summertime is the best time to show your home in the best light. Enticing a prospective homebuyer isn’t always about offering the best price. Most buyers are searching for a quality home that they can see themselves living in long-term, and possibly to raise a family. An open house can be a great way to attract several different potential buyers, as long as you’re willing to make the effort to show your home at its best.

Here are some quick tips to give your open house an edge:

Brighten Up: Schedule your open house for the hours that your home will receive the most sunlight! If your open house runs into bad luck and it’s cloudy or stormy, go ahead and turn on as many lights as you need to make your home look warm and inviting.

Show Off the Entryway: First impressions are always key. Spotlight the welcoming qualities of the home with new floor mats or plants.

Pass The Smell Test: Take time to thoroughly sweep, mop, and vacuum anyplace that your cat or dog has been, and liberally use the air freshener. Ideally, have your pets kenneled for the afternoon so that they’re out of the way, and place litter boxes—after cleaning them—someplace far from common areas such as bathrooms.

De-Clutter: If your home has ample storage space in an attic or basement, make use of it to remove all small and unnecessary items. A buyer wants to know what kind of space the home may have for their own items, so provide them with the opportunity to see where they can decorate. This is also a way to protect you, as the seller—collectibles and valuables should be out of sight in case of possible theft.

A successful open house can be just what you need to sell your home quickly. Consider what you would want to see in your own home if you were going to buy it, and then do whatever it takes to make it irresistible!

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Every prospective homeowner will have a different idea of what they want in their house. Personal aesthetic taste is a factor, obviously, as well as the size of home you’d need to comfortably fit your family and belongings. However, any real estate agent will tell you that the most important factor to consider when purchasing a new home is location—not only where you want to live, but whether or not that location will be beneficial, in the long run, towards the value of your home.

Prime properties can have many—or, if you’re very fortunate, all—of the below features:

Comes with a view – Owning a home with a scenic landscape is something that appeals to almost everybody.

Located in a highly rated school district – If you already have children or plan to start a family, this will be a major consideration.

Close to shopping, entertainment, or nature – This is more dependent on your preferences, but proximity to high-activity areas will also increase the value of the home if and when you choose to sell it.

Close to public services and work – Easy access to community services, such as public transportation and emergency stations (police, fire, hospital) is important, as well as proximity to work…nobody enjoys a long commute.

Community pride – Neighborhoods that have withstood hard economic times and which display the residents’ pride in being there are not only more pleasant places to live, but also have more value than neighborhoods where upkeep is not a priority to the homeowners.

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