Fed Pauses Recent Hikes, Good News For Mortgage Rates

2023-06-15T13:34:15-04:00June 15th, 2023|Categories: Market Update|

The Federal Reserve decided to keep interest rates steady at its June meeting this week. This was the first time since March 2022 that the Fed has not raised rates. The move bodes well for the housing market and home buyers in search of rate stability or a potential signal for decline coming soon. The [...]

LLPA Fee Reversal Announced by FHFA

2023-05-12T09:17:56-04:00May 11th, 2023|Categories: Market Update|

Back in January, the FHFA (Federal Housing Finance Agency) shared news about a series of changes to LLPA (loan-level pricing adjustment) fees. These changes included a revamped LLPA matrix that differentiated pricing by loan purpose and a whopping 81 grids for purchase loans, limited cash-out refi loans, and cash-out refinance loans. The proposed move has [...]

Despite the rate volatility, mortgage demand is up this week

2023-03-16T22:25:26-04:00March 16th, 2023|Categories: Market Update|

The Mortgage Bankers Association's seasonally adjusted index reported a 6.5% increase in the total application volume for last week compared to the previous week. Although the rates were higher, there was a 7% increase in mortgage applications to purchase a home for the week, but it remained 38% lower than the same week in the [...]

2023 Housing Market Looking Stronger

2023-03-16T19:43:08-04:00February 17th, 2023|Categories: Market Update|

The 2023 housing market continues to look stronger with 65% more real estate listings in January compared to last year, according to realtor.com. Although home prices are still up year over year, they have lowered from the pandemic peak, making it a more reasonable time for homebuyers to jump into the market. Mortgage rates are [...]

2023 Forecast: Continued Optimism for Housing Market

2023-01-18T09:40:26-05:00January 18th, 2023|Categories: Market Update|

The housing market in 2023 continues to look better for home buyers who have been waiting to get back in the game due to the rate volatility last year. According to many experts, this could be the year of relief and opportunities for those looking to purchase a home. Gone are the days of fierce [...]

Sellers Offering Concessions Again…Buydowns Helping Buyers

2023-01-18T09:46:55-05:00January 11th, 2023|Categories: Market Update|

A recent Redfin report revealed exciting news for homebuyers: a record 41.9% of home sellers offered concessions in Q4 of 2022! This means that more and more sellers are offering incentives such as money for repairs and mortgage-rate buydowns to help buyers make the purchase. This is the highest increase in any three-month period since July [...]

Potential Opportunity in the Real Estate Market in 2023?

2023-01-18T07:43:30-05:00January 4th, 2023|Categories: Market Update|

Last year, the real estate market was so competitive that buyers had to pay above asking prices and negotiate hard to get favorable terms. Today's housing market is much more favorable for buyers, with more room for negotiation and discounts. This sets the stage for a great opportunity! Inflation is starting to ease, [...]

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