I am SUPER excited about this loan program – albeit a dinosaur from Back in the Day!…………………. The program is called, “The 2/1 Buydown Loan”, and it is just what the Doctor ordered for our current real estate and mortgage markets! This is a great program for you to get into the market NOW! – Check […]
3 min readSoooooo………..As I said last week, this was coming – totally expected. The Feds raised the Federal Funds Rate by 3/4% – The increase was totally baked into the markets and the markets basically shrugged it off and considered it good news. The Dow Jones Industrial Average increased 434 points over Tuesday’s close! Further, mortgage rates […]
2 min read3 Things Heading into the Weekend………… New Program! Well, not exactly; more of a Dinosaur: ***The 2/1 Lender Buydown*** – Basically this is a 30 year fixed rate mortgage that starts at 2% below the market rate. It stays at the lower rate for 1 year and then goes up by 1% in year 2. In year […]
3 min readThings are improving and I believe we are through the worst of it! “Doug Smaldino, Guru” Everyone is blowing us up about the current market & economy. What about Inflation? Jobs? Supply Chain? War in Ukraine? The news is great at hammering out bad news and selling “Doom & Gloom”, but savvy buyers and taking […]
1 min readNot as exciting as (kinda boring actually) everyone anticipated…… stock market up; mortgage rates down.
1 min readly 2022 Existing Home Sales: What Happened This Month: Existing home sales dropped for a sixth month in July, following a sharp June decline in pending home sales and a fifth consecutive month of waning single-family housing starts. July existing home sales were at a pace of 4.81 million, down 5.9% from June and 20.2% from one year ago. […]
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July Highlights Rent Flattens and Year-over-Year Growth Continues to Slide The median rent across the 50 largest metropolitan areas in the United States grew by just $3 from June 2022 into July, reaching $1,879. This sets yet another new high for national rent, breaking the record for the 17th month in a row, but it […]
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What Happened to Mortgage Rates This Week: The Freddie Mac fixed rate for a 30-year loan jumped to 5.55% this week, in the wake of the 10-year Treasury’s strong advance. Investors are parsing through data highlighting a resilient economy, and keeping an eye on Fed Chairman Powell’s statements tomorrow. Expectations are that he will highlight […]
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Affordable housing is a hot topic as of late, though it’s not to be mistaken with housing affordability, or housing that the bulk of an area’s residents can afford. Affordable housing is a hot topic as of late, though it’s not to be mistaken with housing affordability, or housing that the bulk of an area’s […]
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