While the past year-and-a-half took its toll on the real estate market, the latest news offered a glimmer of hope as data saw existing home sales rise. Despite 2021’s massive surge in real estate sales, 2022 generated a lackluster environment. Although the most recent data reflected an increase in home sales, housing inventory still presents […]
Beginning on April 15th, the new Fannie Mae property valuation initiative launched throughout the United States. Essentially, this revolutionary system encompasses technology, data, and analytics. As a result, it enhances the lending process for every stakeholder, including lenders, Realtors, title agencies, attorneys, homeowners, and homebuyers. Overall, Fannie Mae’s goal is to improve the efficiency and […]
Over the last year, the real estate market fell into a bit of a slump, home builder confidence included. However, as we turn the corner to spring, confidence levels begin to climb once again. Home Builder Confidence Jumps from 35 to 42 Since the Great Recession of 2009, the United States faced a longstanding housing […]
Adjustable-rate mortgages (ARMs) are now making up 10% of mortgage, compared to 3% at the beginning of the year. This surge in popularity has many real estate experts and prospective homeowners wondering. What ARMs are, how they work, and what’s making them such a popular choice in 2023. What is an Adjustable-Rate Mortgage? An adjustable-rate […]
Overall, the December 2022 real estate scene leaves much to be desired as the year comes to a close. Despite dropping over the last few weeks, higher mortgage rates continue to heavily impact mortgage application volumes. Currently, mortgage application volumes remain near the lowest levels in 25 years. According to the latest data from the […]
Despite a seemingly endless upward trajectory, recent data finally points to falling mortgage rates. Mortgage rates, on a consistent rise over the past year, fell to 6.61%. Thus, mortgage rates decreased nearly half a percentage point since last week. Furthermore, 15-year mortgage rates dropped to 5.98%, nearly half a point drop but still way higher […]
As mortgage rates to 20-year highs, home builder sentiment declined for the tenth month in a row. Similarly existing home sales fell for the eighth straight month. Further complicating the real estate market, housing inventory presents an ongoing barrier to prospective home sales activity. Despite the longstanding challenge, new construction remains slow. NAHB Survey Indicates […]
Fluctuating mortgage rates have many people wondering if it’s still a good time to consider refinancing their mortgage. Rates are higher, but does that mean the window for refinancing is closed? How can you know a good refinancing opportunity when you see it? Is it a Bad Time to Refinance a Mortgage? Though mortgage rates […]
Throughout September, the latest August home sales data reflected a strong sensitivity to mortgage rates. When rates experienced a short-lived dip in August, home sales reacted with a sudden jolt of activity. However, September 2022 closed out with mortgage rates hitting their highest levels since 2007. Thus, the real estate will be sure to compensate […]
Home buyer affordability—a measurement of the overall affordability of homes in certain areas compared to average income—is steadily improving in thirty-two states across the country. The median payment applied for by applicants decreased from $1,844 to $1,839, dropping for the third consecutive month. All of this is according to the Mortgage Bankers Association’s Purchase Applications […]