Mortgage Rates Hold Steady The 30-year fixed-rate mortgage averaged 3.73%, unchanged from a week ago, Freddie Mac reports. “The economy continued to pick up momentum with a solid increase in residential construction, improvement in industrial output in our nation’s factories and a rise in job openings,” said Sam Khater, Freddie Mac’s chief economist. “While the …
Category: News
Dec 20
November home sales slip
November home sales slip Existing-home sales decreased in November, offsetting October’s gains. But Lawrence Yun, chief economist for the National Association of REALTORS®, says there’s no reason to believe the drop indicates a lasting downward trend heading into the new year. Total existing-home sales—completed transactions for single-family homes, townhomes, condos, and co-ops—slipped 1.7% in November, …
Dec 19
Housing Construction Rises
Housing Construction Rises More new-home construction is coming, and builders are increasingly confident about the direction of the market. Housing starts in November rose 3.2% to a seasonally adjusted annual rate of 1.37 million units, the U.S. Commerce Department reported Tuesday. Broken out, single-family home construction rose 2.4% year over year in November, while the …
Dec 18
Discover the affordability of homeownership
Discover the affordability of homeownership Whether you’re a first-time homebuyer, a repeat buyer, or looking to refinance, John Coneys of Freedom Mortgage, and I can help you find out what the Homeready program can do you for. #RealEstate #Realtor #HomeReady #PreApprovalChecklist #FreedomFast #PreApp #LetFreedomHelp See the image below for all the details.
Dec 17
There’s Not Enough Building
There’s Not Enough Building While industry economists at the National Association of REALTORS®’ Real Estate Forecast Summit last week were optimistic about the housing market’s performance in 2020, they also discussed challenges that continue to throw markets off balance. One big one: the continued need for more new construction to meet new household formation and …
Dec 16
Mortgage Rates Could Trend Upward
Mortgage Rates Could Trend Upward A humming economy and a halt to Federal Reserve interest rate hikes—at least in the immediate future—are helping to push mortgage rates higher. With economic expansion expected to continue into the new year, the 30-year fixed-rate mortgage, which increased to an average of 3.73% this week, could see steady inclines …
Dec 13
Fed Leaves Rates Alone
Fed Leaves Rates Alone As the economy continues its record-long expansion, the Federal Reserve voted to leave its key benchmark rate unchanged at its meeting Wednesday. Consumers buying a home or car should continue to see lower borrowing costs as a result. Even though the Fed’s key rate isn’t directly tied to mortgage rates, they …
Dec 12
First-Time Buyer Market
First-Time Buyer Market More first-time buyers emerged on the market in the third quarter—a modest rise, but one that economists are still upbeat about. First-time buyers purchased 591,000 homes in the third quarter, a year-over-year increase of 1%, Genworth Mortgage Insurance reports. First-time buyers comprised 39% of all buyers in the single-family market, and 55% …
Dec 11
Are you ready to move?
Are you ready to move? We specialize in programs for the first time home buyers! Buying your first home is an exciting and stressful time. Luckily, there are many financing plans available to help you achieve the American dream of home ownership. You deserve to know all your options. See the photo below, then contact …
Dec 10
Winter Vacation Home Buyers
Winter Vacation Home Buyers Vermont may offer some of the best opportunities for a winter investment property, according to new rankings released by Vacasa, a U.S. vacation rental management company. The firm identified the best places to buy a vacation home in 2019, factoring in aggregate cap rates and the ratio of a property’s net …
Dec 09
Mortgage Rates Stay Steady
Mortgage Rates Stay Steady The 30-year fixed-rate mortgage didn’t budge this week, maintaining its same 3.68% average from last week. “This week the economy sent mixed signals, leaving mortgage rates unchanged,” says Sam Khater, Freddie Mac’s chief economist. “Survey data for manufacturing and service industries varied while construction spending fell modestly. However, home buyer demand …
Dec 06
Caps Removed for VA Loans
Caps Removed for VA Loans Veterans may be eligible to buy larger homes in pricier communities—still without a down payment—starting next year. Those taking out Veteran Affairs–backed mortgages will find caps removed on what they can spend in 2020. The Blue Water Navy Veterans Act of 2019 removed the caps for the new year. But …
