Where Will Mortgage Rates Be In 2015? With mortgage rates in San Diego averaging their lowest in 20 months, there are many people recognizing the opportunity to get a mortgage in order to purchase a home. However, despite the low mortgage rates seen at the start of 2015, many experts predict that rates will start to increase steadily and that they … [Read more...]
Reasons Why You Should Buy Your New Home Before Spring
Reasons Why You Should Buy Your New Home Before Spring If you are planning to get a home but were intending to wait until spring, here are a few reasons why it’s best not to wait and to purchase your new home now. With predictions of mortgage rates, interest rates and fewer homes on the housing market, it is best to take advantage of the current … [Read more...]
New Home Purchase Applications Have Risen By 8 Percent In October
Recent events and changes made by Fannie Mae and Freddie Mac as well as the low mortgage rates have resulted in the new home purchase applications increasing by 8% in October. The Mortgage Bankers Association has revealed important survey data which shows this considerable increase while experts are trying to figure out what caused it. Increases … [Read more...]
Why Did Congress Eliminate the Child Tax Credit Mortgage Deduction
The congress, following an approval rate at historically low level, around 10%, voted the removal of the tax credit on earned income tax and the deduction of the mortgage interest and child tax credits from the tax code, beginning with the fiscal year 2014. This move aims to improve the way this 113th United States Congress is perceived, namely as … [Read more...]
Prices on a Downward Trajectory
Home price appreciation is slowing across many top metros in the nation. In fact, according to the S&P Case-Shiller Price Index, the drop to 4.8 from 5.5 is the first month-over-month decrease since November 2013.This drop in appreciation isn’t just across the U.S... it’s also affecting many areas of Southern California. From September to … [Read more...]
The Departure Of Bill Gross From Pimco Has Contributed To The Falling Of US Mortgage Rates
The Departure Of Bill Gross From Pimco Has Contributed To The Falling Of US Mortgage Rates While the concerning worldwide news of European and Asian economic unrest have been causing mortgage rates to drop to low levels, the departure of Bill Gross from Pimco may have further accelerated the falling trend of rates that can be seen across the … [Read more...]
FHFA Is Noticeably Easing Mortgage Standards
Mel Watt, director of the Federal Housing Finance Agency (FHFA), recently announced extensive plans to expand the access of homebuyers to mortgage loans, by easing lending standards. The current tight lending conditions governing the market are considered the main cause behind the hindering of the real estate industry. During the annual conference … [Read more...]
Fannie Mae Is Ready to Bring Back 3% Down Payments – Five Reasons Why
In late 2013, Fannie Mae increased the minimum down payment from 3% to 5%. Now, they are ready to come back to the original terms, but many analysts are still wondering whether this is a prudent move. Fannie Mae was profitable in this year’s third quarter, with $3.9 billion net income and $6 billion net revenue, although their earnings dropped by … [Read more...]
Looking Ahead: 5% in 2015?
With mortgage rates hovering right at 4% for the sixth consecutive week, homebuyers might start to feel they are invincible from rate increases. However, don’t get too comfortable just yet. Because according to the National Association of Realtors Chief Economist Lawrence Yun, mortgage rates will rise to 5% in 2015...and 6% in 2016. While that … [Read more...]
The New Normal?
When markets are normal, builders build. And that’s exactly what’s been going on lately. According to the California Building Industry Association, new housing starts are up year-to-date with 61,361 new single- and multi-family units. This uptick in building starts signifies a stabilized housing market. But is this as good as it gets? Is this the … [Read more...]
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