Mortgage Rates Reach The Highest Level Since January On Trump’s Election

Donald Trump’s stunning presidential election win hasn’t just spooked the poll pundits, it has spiked mortgage rates too. And the spike is fairly substantial. Between Wednesday, Thursday and Today (Market being closed on Friday), mortgage-backed securities have lost a whopping 236 basis points (bps). And we are not even done for the day (see the […]

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What’s Really Going On With the Housing Market?

The fall 2016 home buying season is in full swing with winter –  and 2017 – quickly approaching. Like most, we start our next year housing hypothesis late-summer of the prior year. With 16+ months of 2016 housing and mortgage prognostication in the books – I’m feeling more and more like a broken record. Inventory. […]

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Is Affordability Becoming a Problem for US Real Estate?

What do you do when the free market prices the average – sometimes even the exceptional – American family out of owning a home? The answer used to be simple, people would just rent. In many markets – most major metro area – rents are increasing at rates equal to, or higher than, home values? […]

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[Infographic] Home Values Continue Steep Climb in August

Home prices in the country, spurred by low mortgage rates, continue to forge ahead. On average, American home prices have recovered nearly all their losses from the 2006 crash, but when adjusted for inflation they still have some ground to cover at 20% below the 2006 peak. Home Price Index (HPI) indicates that home prices […]

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Huge Mortgage Missteps to Avoid When Buying A Home

The process of buying a home is just that – a process. Like with any major process there are a multitude of potential missteps to avoid. Let’s discuss three huge ones. Failing to Consider Your Spending Habits and Expenses Lenders qualify you for what you technically can afford based on review of income documents and […]

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Where is the Housing Inventory?

Home prices are soaring nationwide. Houses are flying off the market in record time. It sounds like sunshine and rainbows for the housing market right? Are home prices rising too fast though? Is it sustainable? In the super-hot markets – like San Francisco and San Jose, CA along with Austin, TX – median prices have […]

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Will Mortgage Rates Ever Go Back Up?

Some of you reading this will remember this number – 16.63 percent. That was the average mortgage rate in 1981. In fact, from 1980 to 1991 the average mortgage never dipped below 10 percent. The 1990’s were a little kinder for homebuyers and homeowners though – the average mortgage rate for that decade was a […]

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New Departure Residence Guidelines Helping More Buyers Qualify

  During the height of the financial chaos and housing meltdown, Fannie Mae and Freddie Mac made some sweeping changes for current homeowners looking to buy a different home. Coined the “departure residence” – or “principal residence conversion –  by Fannie Mae and Freddie Mac, the set of rules and guidelines put in place in […]

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The Insider Secret of a No Closing Cost Mortgage

Mortgage quotes come with options that you may not be aware exist, but definitely need to understand if you want the best mortgage for your unique situation. The terminology used by mortgage lenders to describe these options is probably foreign to most borrowers – par, above par and below par pricing. These mortgage terms also […]

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[Infographic] Home Sales At Highest Pace in 9 Years

Existing home sales rose 1.8 percent in May – their highest pace since February 2007 – according to the National Association of Realtors (NAR) anticipated monthly report that came out this week. In total, 5.53 million single family, condo and townhome sales came to fruition. Strong numbers considering that inventory issues – especially on the […]

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