The rapid rise in home prices over the past year is prompting Fannie Mae and Freddie Mac to revisit the maximum size of home mortgages they will back for 2022, possibly increasing to nearly $1 million in some areas, The Wall Street Journal reports. That would mark a sharp jump compared to this year: The …
Tag: Real Estate
Jul 09
5804 Central Ave. N #SEA, Sea Isle City, NJ. 08243 – Jersey shore vacation home.
5804 Central Ave. N #SEA, Sea Isle City, NJ. 08243 $924,900 Est. Mortgage $5,575/mo*4 Beds3 Baths1600 Sq. Ft. Listing courtesy of Patrick F Rogers – MaxPort Real Estate-Down the Shore Description about this home for sale at 5804 Central Ave. N #SEA, Sea Isle City, NJ. 08243 Amazing! Welcome to this Very Spacious 4-bedroom 2.5 …
Jul 09
How Buyers With VA Loans Can Better Compete
Military families with Veterans Affairs loans are losing out in the competitive housing market. Sellers are showing preference to buyers with more conventional financing or all-cash offers that they believe will offer a faster and smoother closing. Ninety-four percent of real estate professionals surveyed said sellers are most likely to accept an offer with conventional …
Jul 09
Mortgage Applications Climb, Even as Rates Rise
Rising mortgage rates don’t seem to be scaring off home buyers. Mortgage applications to purchase a home, viewed as a gauge of homebuying demand, increased 2% last week, the Mortgage Bankers Association reported Wednesday. Homebuilders are reporting stronger buyer traffic too after a brief lull earlier this fall, according to a recent builder sentiment report released …
Jul 08
11 Willowbrook Road, Broomall, PA. 19008 – Delco / Delaware County Home.
11 Willowbrook Road, Broomall, PA. 19008 $519,000 Est. Mortgage $3,530/mo*3 Beds2 Baths1814 Sq. Ft. Listing courtesy of Daniel Gioioso – EXP Realty, LLC, Description about this home for sale at 11 Willowbrook Road, Broomall, PA. 19008 Set amongst a mature private landscape in the desirable neighborhood of Rose Tree Woods, this split-level home features; Over …
Jul 08
Inflation Drives Mortgage Rates
The 30-year fixed-rate mortgage was back above 3% this week, and economists believe rates will continue to increase over the next few months. “The combination of rising inflation and consumer spending is driving mortgage rates higher,” says Sam Khater, Freddie Mac’s chief economist. “Shoppers looking to buy a home are fueling a strong demand while …
Jul 08
Inventory Woes Aren’t Slowing Down Home Sales
Existing-home sales fared strongly in October even as buyers continued to complain there aren’t enough homes on the market. Existing-home sales, which are completed transactions for single-family homes, townhomes, condos, and co-ops, increased by 0.8% in October compared to September, the National Association of REALTORS® reported Monday. Compared to a year ago, however, sales are …
Jul 03
NAR President Calls for Improving Veteran Buying Process
National Association of REALTORS® President Leslie Rouda Smith testified before Congress Wednesday, encouraging lawmakers to further help veterans achieve the American dream of homeownership. The hearing before the House Committee on Veterans Affairs Subcommittee on Economic Opportunity brought together lawmakers and housing industry leaders to brainstorm ways to remove barriers specific to veteran homeownership. “NAR …
Jul 03
803 1st st, Ocean City, NJ. – 08226 – Jersey Shore Vacation Home.
803 1st st, Ocean City, NJ. – 08226 $1,595,000 Est. Mortgage $9,594/mo*3 Beds3 Baths Listing courtesy of Joan Farrell, Abr – MONIHAN REALTY-A Description about this home for sale at 803 1st st, Ocean City, NJ. – 08226 Leave your worries at the doorstep of this fully furnished 3BR/2.5BA single family home just a short …
Jul 02
24 64th Street, W., Ocean View, NJ. 08230 – Jersey Shore Vacation Home.
24 64th Street, W., Ocean View, NJ. 08230 $2,500,000 Est. Mortgage $15,324/mo*6 beds5 Baths Listing courtesy of Susan Giordano – LONG & FOSTER REAL ESTATE, INC sic Description about this home for sale at 24 64th Street, W., Ocean View, NJ. 08230 EXCEPTIONAL BEACH BLOCK TOWNHOUSE CUSTOM BUILT BY TOM WELSH BUILDERS in 2020 and …
Jul 02
Experts: Housing Market Likely to ‘Normalize’
Economists predict slower price appreciation, easing inflation, and rising interest rates during NAR’s virtual Real Estate Forecast Summit. While strong homebuyer demand and inventory shortages will continue into 2022, the housing market is unlikely to repeat this year’s dizzying heights, in which existing-home sales reached their highest point in 15 years with an estimated 6 …
Jul 01
CFPB, DOJ Warn Against Illegal Evictions of Military Vets
The Consumer Financial Protection Bureau and the Justice Department issued letters to mortgage servicers and housing providers reminding them that military and veteran families who are leaving pandemic-related forbearance plans or renters leaving moratoriums have extra protections under law. They want to ensure that military families and vets are not illegally evicted or foreclosed on. …
