Market Updates
The Next Wave of Boomerang Home Buyers
Having lost their homes to foreclosure, bankruptcy or short sale boomerang home buyers are now ready to take on a new mortgage loan. Speak with a professional lender today to see if you are ready to buy again! Boomerang home buyers are those who have lost their homes to exceptional circumstances and have been able […]
FHA Offers Lower Mortgage Insurance Premiums To New Borrowers In 2015
New FHA mortgage borrowers in 2015 will be offer a reduced Mortgage Insurance Premium (MIP). This is the first time that the Federal Housing Administration (FHA) has reduced its MIP for its borrowers since 2001. It has been a long time coming for many interested home buyers and millennials who have been hesitant on committing […]
How to Submit FHA Case Number Cancellation Requests
Just a week ago, the President made an announcement in regards to reduced FHA Mortgage Insurance Premiums (MIP) along with temporarily allowing for lenders to cancel case numbers on loans issued on and after January 26, 2015. FHA has reduced its Mortgage Insurance Premium (MIP) by as much as 0.50%, making it even more affordable […]
Conforming Loan Limits Released For 2015
Conforming loan limits for 2015 was released by the Federal Housing Finance Agency (FHFA) with little alterations. This is including (Federal Housing Administration) FHA home loans. Conforming loans are backed by the federal government and then sold to the secondary market as mortgage-backed securities. Loan limits are considered the maximum loan amount that the federal […]
November 2014: Foreclosure Report
November’s foreclosure report showed Florida with 0.14% foreclosure filings higher when compared with the nation’s 0.08%. The following statistics gathered from RealtyTrac are:
Fannie and Freddie’s 3% Down Payment Targets First-Time Home Buyers
Real Estate Media Host, Frank Garay of National Real Estate Posts expands on the new programs at 3:19 While there are concerns of another mortgage crisis in the making and skeptical lenders questioning the likelihood of safe lending, Fannie Mae and Freddie Mac executives assure that the new 97% LTV program is safe-guarded enough. Encouraging […]
Housing Market Predictions For 2015
In a thriving economy, we know what this may mean for mortgage rates. In November, we saw mortgage rates moving slower than ever, inching closer and closer to 4 percent. November ended with 3.97% and as we moved into December, rates remained steady in the 4 percent range. This is no surprise for many housing […]
Conventional Interest Rates More Stable Than Its Home Prices
According to the Federal Housing Finance Agency (FHFA), mortgage interest rates during the month of October showed a 5 basis point increase for existing homes. Mortgage Interest rates newly built homes with a Conventional purchase loan on the other hand remains unaffected. The average effective rate for new home loans actually has been stable since […]
National Mortgage Debt Overview
According to TransUnion’s Industry Insight report in the third quarter of 2014, the nation’s mortgage delinquency rate has decreased to 3.36%. This percentage represents borrowers with 60 days or more past due, another drop for the 11th consecutive month. A 17% drop from a year ago provides a promising recovery in 2015. This chart from […]
Demand For More Housing
Mortgage rates are low, down payments are low, and the demand for more housing is high, boosting builder confidence. According to the a survey from National Association of Home Builders (NAHB), the demand for housing is on the rise nationwide. As of November, builder confidence rises four points and Single-Family constructions were up 4.2% topping […]
Freddie Mac: U.S. Housing and Economic Outlook 2015
2014 is coming to a close, what does this mean for rates? Where will they go? According to Freddie Mac, we may see a rate increase in 2015. It is definitely not the time of year to procrastinate on taking advantage of today’s low rates, whether it be refinance or a new mortgage purchase. As […]
CoreLogic Second Quarter: 2014 National Equity Overview
Despite the 34.2% increase in underwater homes in the U.S., 94.0% of more expensive homes have regained equity. The top five states with equity gain in mortgaged residential properties are: 1) Texas – 97.3% 2) Alaska – 96.5% 3) Montana – 96.4% 4) North Dakota – 96.0% 5) Hawaii – 96.0%
RealtyTrac September 2014: Top Five Foreclosure States
According to RealtyTrac, the nation’s leading source for comprehensive housing information, there are a total of 1,039,021 properties currently in some state of foreclosure as of October 2014 increasing by as much as 15% from the last report in September. Though the percentage of properties increased when compared with September’s report, it is still 8% […]
Sept. 2014: Home Price Index National Overview
According to Corelogic’s National Snapshot of Changes in home prices, all states show appreciation in the month of September. National home prices are expected to increase by 5.0% between September 2014 and September 2015. The home prices including distressed sales have increased to 5.6% in September 2014 when compared with September 2013. September marked the […]
September Mortgage Loan Origination Overview
Obtaining a mortgage purchase loan is as easy as pumpkin pie! According to Ellie Mae’s Third Quarter Loan Origination Insight Report Purchase loans are seeing more action than Refinance loans. 32% of loans originated had a FICO score below 700 and the average score in the third quarter this September was 726. This proves that […]
