Category: News

Fannie & Freddie 2016 Loan Limits; Agency Requirements After a Bankruptcy or Foreclosure

Regan Hagestad December 10, 2015

Counties with slightly higher than average median home prices, including areas in California, Massachusetts, and Colorado, have seen a raise in loan limits. For the other counties in the United States, the baseline loan limit remains at $417,000. Freddie Mac has implemented updated rules for condominiums, co-ops, and Home Ready mortgages. The Home Ready program has raised some eyebrows as

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The Mortgage Balancing Act: What you Spend vs. What you Make

Regan Hagestad December 2, 2015

When looking to purchase a new home, many people focus on finding a house and obtaining a mortgage that they can afford. However, prospective home buyers should be aware that there’s more to being able to pay for a house than having an income that exceeds their outgo. Banks base their decision to lend and at what rate on an

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Existing Home Prices Rise and Price Appreciation slows in Q3

Regan Hagestad November 25, 2015

Despite an inventory shortage, there has been an encouraging boost in existing home sales for the third quarter of 2015. This has kept prices rising throughout the country and kept price appreciation slowing to a healthy pace. Thanks to favorable mortgage rates and improvements in the economy, purchasing demand increased. Even though price growth reached unhealthy levels in certain markets,

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Fannie Housing Survey: Fear of Commitment?

Regan Hagestad November 19, 2015

According to Fannie Mae’s October Housing Survey, consumer attitudes toward purchasing real estate is described as volatile. The number of people who have favorable opinions about purchasing homes is down. This has been caused by a decrease in buyer optimism toward raises in household income and worries over looming interest rate hikes. Many people are not experiencing a significant increase

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Spending on Residential Construction Up 17 Percent

Regan Hagestad November 12, 2015

According to the latest report from the U.S. Census Bureau, residential construction increased in September 2015 while construction as a whole remained relatively unchanged. The seasonally adjusted annual rate for new construction in September was $1.09 trillion, an increase of 0.6 percent over the previous month and an increase of 14.1 percent over the prior year. The non-adjusted amount for

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This is the Next Big Property Investment

Regan Hagestad November 5, 2015

As rents are rising, investors are on the hunt for multi-family residential properties. The slow growing economy is keeping single-home supply down. Starwood Capital, a private equity and venture capital firm, is taking advantage of this trend. This company has joined with Milestone Apartments REIT to purchase the Landmark Apartment Trust for $1.9 billion in cash. This means these partners

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Climbing Back to the Top  

Regan Hagestad October 27, 2015

The Federal Housing Finance Agency (FHFA) released some great news this week. Slowly but surely, home prices are returning to their pre-crash peak levels. By looking at Fannie Mae and Freddie Mac mortgage financing figures, the latest Home Price Index (HPI) showed an increase of 0.3 percent in August over the previous month’s figure. Even better, the HPI is up

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Mortgage Applications are on the Rise

Regan Hagestad October 19, 2015

Last week, mortgage applications saw a sharp increase. Declining rates encouraged aspiring homeowners to take the leap and invest in a personal residence. According to the Mortgage Bankers Association, its application survey data rose by 25.5 percent. This atypical movement ran the gamut since the refinancing index also grew by 24 percent. It would appear that the amount of purchase

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Home Price Appreciation Better Than Expected – CoreLogic

Regan Hagestad October 14, 2015

For 42 consecutive months, the Home Price Index has risen. It was up 6.9 percent from August 2014 and included distressed sales. The boost in home prices in the lower end of the market means owners at that level are finally seeing a rise in equity. Colorado and Washington are two states enjoying double-digit yearly price increases. Nevada and Oregon

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More home equity = more cash-out refinances

Regan Hagestad October 6, 2015

For years following the Great Recession, many Americans were unable to refinance due to a lack of equity. However, Black Knight Financial Services reports that as a result of increases in home values, people have been able to refinance and even take advantage of cash-out refinances. Based on data from Black Knight’s Mortgage Monitor Report, home equity rose nearly a

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