The housing market is still hot for sellers, but the mortgage rates have been trending up. They are now at the highest since early 2021. Houses are still selling at an incredible pace, typically sold within one week after listing with an agent. As interest rates rise, there’s been a proportional shift to a lower
Foreclosure is beginning to see an uptick. This is due to forbearance plans ending. Many home owners now face having to repay the full amount of deferred payments or adding the amount of suspended payments onto the monthly payment. There could be a trend in the following three months back to normal levels as the forbearances that were filed during
While mortgage rates remain low, demand for refinances seem to be falling. Strangely, the refi rates on America’s most common mortgage options have fallen significantly below historical averages despite the reviving economy. Most forecasters believe that todays rates won’t last, and consequently, that we should take advantage of them before they leave for good. However according
A new credit coming to homebuyers who pay rent on time. Fannie Mae has announced a revolutionary new method in screening possible homeowners set to be put in place by the end of the month. Available to renters making recurring rent payments (minimum of $300/month) from their bank accounts which can be documented in the most recent 12 months.
With a lack of home inventory many people are feeling that buying a home is an untouchable goal. Many feel that they can’t afford to put down a down payment for a house, therefore renting a home was the alternative. There are a few factors to consider when it comes to a decision of purchasing a home