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new mortgage fees

New Mortgage Fees – What Every Homebuyer Should Know

You’ve probably seen a lot of negative press lately about recent controversial changes implemented by Fannie Mae and Freddie Mac (the government-sponsored enterprises that buy and guarantee mortgages from lenders for mortgage borrowers). The take-away is that the changes in mortgage fees will benefit borrowers with lower credit scores and smaller down payments, while potentially …

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Annual Consumer Inflation Continues to Affect Mortgage Rates

Interest rates are hovering in the mid to high 6% range and all eyes are on the trajectory of inflation. The good news is that it continues to move down slowly. In February, the year-over-year reading for the Personal Consumption Expenditures (PCE) dropped from 5.3% to 5%, which is the fourth consecutive month in which …

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Mortgage Update – January 2023

As we journey into 2023, I decided to look back at the housing and mortgage predictions from our 2022 January newsletter. These prognosticators were clearly off the mark last year. Much of this was driven by the Federal Reserve’s poor communication. It really wasn’t until the spring that they even admitted that they were behind …

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family mortgage blog - July 2022

Recession Coming? What Does It All Mean For Housing…?

You can’t pick up any article or watch anything on TV related to the economy today, without hearing the word recession. The National Bureau of Economic Research determines when a recession starts and ends. Typically, they define this as two consecutive quarters of negative gross domestic product (GDP). But there are other factors involved including …

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Are We In A Housing Market Bubble?

Are We In A Housing Market Bubble?

Lately, I have been getting this question quite a bit; do you think that we are in a housing bubble? I have been in this business for a long time, including the run-up to the last financial crisis and now watching the lowest inventory levels we have seen in several decades resulting in bidding wars. …

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Big Hit to Second Home & Investment Mortgages

Fannie Mae announced on March 10 that they are limiting new loan secured by second homes or investment properties to 7% of the overall loans they purchase. What does this mean to borrowers seeking investment/2nd home mortgages? Turns out, it means A LOT. While Fannie Mae did not add any new “loan level pricing adjustments” …

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