Rates Improve, Fed Cuts Likely, Conforming Low Income Program Updates
Both Fannie & Freddie have announced updates to their low income/down payment programs that give discounts on note rate and mortgage insurance rates (these programs allow: 3% down, boarder income, ADU income, & low down payment on owner occupied 2-4 units). The updates make it more challenging to qualify. Instead of allowing 100% of Area […]
Cornering the Lottery, Delinquencies Hit 20 Year Low, Rates Bounce Up.
Ever think about buying all possible number combinations to win the lottery? This story covers this history of lottery and how one man managed to successfully corner the lottery 12 times. Rates bounced up this week after a steady decline for the previous two months. Fed Chair Jerome Powell testified that uncertainty continues to weigh […]
Happy 243 BD, How we use our Land, Strong Appreciation Forecast
Who could have predicted 243 years ago that the United States would become the largest global economy? A big reason for our success is our vast amount of land and natural resources, but how do we use these 1.9 billion acres of real estate? It turns out that we use most of our land for […]
NAR Confidence Index, Rates Stable, Tame Inflation
In the NAR confidence index 82% of respondents reported prices are constant or rising which is down from 88% in May of 2018. Properties are typically on the market for 26 days, first time home-buyers make up 32% of sales and 81% of transactions are financed. Rates – held steady this week as the 10 […]