Moratoriums Keep Foreclosures Nearly Nonexistent Even as mortgage delinquencies climb, foreclosure activity continues to be low. Foreclosure moratoriums ordered by federal and state governments during early phases of the pandemic likely helped to minimize the foreclosure rate, says Rick Sharga, executive vice president at RealtyTrac, a real estate data firm. “It’s inevitable that there …
Tag: News
Aug 19
Mortgage Rates Stay Below 3% This Week
Mortgage Rates Stay Below 3% This Week Mortgage rates inched up slightly this week but still remained near historical lows. The 30-year fixed-rate mortgage averaged 2.96% this week, up from last week’s record low of 2.88%, Freddie Mac reports. “Home buyer demand remains strong, especially for those in search of an entry-level home, where the …
Aug 18
Refinancing Fee Could Roil Mortgage Market
Refinancing Fee Could Roil Mortgage Market The Federal Housing Finance Agency has announced a new mortgage refinancing fee that could cost homeowners about $1,500 extra on a $300,000 loan. The fee will apply to loans delivered to Fannie Mae and Freddie Mac starting Sept. 1, which means it could impact current refinancing applications. The fee …
Aug 17
Listings Climb for the First Time Since the Pandemic’s Start
Listings Climb for the First Time Since the Pandemic’s Start Buyers are finding greater selection in their house hunt as new listings increase above pre-pandemic levels, according to realtor.com®’s latest Weekly Recovery Report, reflecting the week ending Aug. 8. The increase in new listings now brings all four major components of housing activity tracked on …
Aug 14
Ways to Improve Chances of a Favorable Appraisal
Ways to Improve Chances of a Favorable Appraisal Appraisal issues can be common hangups in a real estate transaction. In June, appraisal issues were blamed for causing delays in 18% of transactions (the second highest reason behind issues related to obtaining financing) and for terminating 9% of contracts, according to the REALTORS® Confidence Index. While …
Aug 13
Most Popular Home Updates During the Pandemic
Most Popular Home Updates During the Pandemic Many Americans turned their attention to their homes during the pandemic. Home improvement big-box retailers reported a swarm of traffic as homeowners looked to spruce up their nests while sheltering in. What were homeowners working on? Outdoor spaces were fueling much of the demand, according to Houzz, …
Aug 12
Home Prices Rise, More Owners Become ‘Equity Rich’
Home Prices Rise, More Owners Become ‘Equity Rich’ Despite the pandemic, home values continued to climb in the second quarter, with 15.2 million residential properties in the U.S. considered “equity rich,” according to a new report from ATTOM Data Solutions, a real estate data firm. That means the combined estimated amount of loans secured by those …
Aug 11
New Record Low for 30-Year Mortgage Rate: 2.88%
New Record Low for 30-Year Mortgage Rate: 2.88% For the eighth time this year, the 30-year mortgage rate hit an historic low. Home buyers and refinancing homeowners could now potentially lock in the lowest rates Freddie Mac has recorded since it began tracking such data in 1971. “The resilience of the housing market continues as …
Aug 10
Mortgage Applications Are 22% Higher Than a Year Ago
Mortgage Applications Are 22% Higher Than a Year Ago Mortgage applications to purchase a home are 22% higher than a year ago, but last week applications did dip compared to the previous week. Purchase applications week to week were down 2% even as mortgage rates remain near record lows, the Mortgage Bankers Association reported Wednesday. …
Aug 07
Appraisers Struggle to Manage Skyrocketing Demand
Appraisers Struggle to Manage Skyrocketing Demand As record low mortgage rates prompt a wave in both home buying and refinancing, appraisers may be having a tough time keeping up: Lenders are reporting turnaround times for appraisals are increasing and, as a result, lengthening the underwriting process. Lenders informally surveyed by HousingWire are reporting that …
Aug 06
Zero-Cost Social Media Marketing Ideas
Zero-Cost Social Media Marketing Ideas Social media can be a treasure trove for real estate pros looking to expand their business, connect with clients, and build strong brand recognition. “We don’t believe social media is the silver bullet, but it can be a great help in your business,” says Katie Lance, CEO and co-founder …
Aug 05
You still have home buying options
You still have home buying options, even with bankruptcies and other glitches on your credit report. Read the below image for details, then give me a call to discuss. In and out of bankruptcy? With the help of myself and John Coneys of Freedom Mortgage, (NMLS# 183853 – 610.322.4886 we can explore homebuying options you …
