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 …
Annual Consumer Inflation Continues to Affect Mortgage Rates Read More »
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 …
As we close out a very crazy year in the real estate industry, we wanted to give you a quick overview of what has transpired and some of the reasons behind it. From there, we will transition to some insights into what we see in our crystal ball for the next 6 to 12 months. …
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 …
Recession Coming? What Does It All Mean For Housing…? Read More »
Scott’s Perspective The current real estate market of high demand/low supply has some speculating that history will repeat itself in the form of another Financial Crises like what occurred in 2008. I’ve read headlines lately mentioning a “Housing Bubble”, and warning of the “Imminent Housing Crash!” However, nothing could be further from the truth. Leading …
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. …
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” …
Looking to buy new before selling your current home? Buying and selling a home can be complicated. But it doesn’t have to be if you know what you’re doing! In the video below I’ll walk you through 2 things to keep in mind if you’re buying a new home prior to selling your existing home. …
