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What You Really Want to Know

Information we thought was worth sharing with you:  Market Trends, Buying or Selling a Home, What is Going on in the Nation and in Your Backyard.

FOMC Surprises No One and Hikes Interest Rates

The Federal Open Market Committee voted Wednesday to raise interest rates for the second time this year, a move that was widely expected amongst economists and industry professionals. Back in March, they voted to increase the rate a modest quarter of a point to maintain the Fed’s goal of maximum employment and market stability.

Most Buyers Unfazed by Rate Hikes as Inventory Continues Dropping. May was a hot month for increasing home prices, and the report suggests the summer selling season will be no different. How will increasing home prices and dwindling inventory affect those searching for a home?

How Do Mortgages Work? What You Need to Know About the Home Loan Process
Mortgages might be one of the most essential and common parts of the home-buying experience, but they're also one of the most misunderstood. Whether you're on the search for your first home or just need some clarification, here's how mortgages work—and what you need to know.

 Subprime Mortgages Moving From Rearview  

Just as we’re looking at peeling back regulations like Dodd-Frank with last weeks CHOICE Act vote, a recent op-ed asked the provoking question “Does anyone remember how to make a subprime mortgage?” Of course, those in the mortgage industry remember well. Though they have dwindled in recent years, due to many blaming the 2008 crash in part on the mortgages, thoughts of honing in on an untapped market are gaining popularity again.

New Buyers Unafraid to Jump into the Housing Market
With the increasing popularity of mortgage insurance, a 20 percent downpayment may not be status quo anymore for those looking to become homeowners. First-time homebuyers account for nearly half of total homes purchased in the first quarter of 2017, a number that is expected to rise. They are also exploring other options to obtain homes.

Reverse Mortgage Complaints Common for Older Americans
Personally, would Never advise family, friends or Clients to get a reverse mortgage unless they have no family. I would rather them get a home equity due the huge fees and cost associated with a Reverse mortgage. I have sadly handled the foreclosures after the home goes back to the bank because the family cannot afford to buy it back at full price with all the fees.


Home Prices Hit New Peak
According to new data, home prices have hit a new peak, now reaching $272,000. Eight states and 15 metros also hit new price peaks this year. Washington has seen the biggest jump in prices over the year.



Mortgage Interest on the Decline for Second Straight Month
The Federal Housing Finance Agency has conducted its monthly interest rate survey for 4,437 loans closed during the last five business days in April across 17 lenders, and has reported a decline by 14 to 15 basis points across all mortgage interest rates. The average loan amount has also seen a slight drop of $1,100 after experiencing a spike in March. And while average loan amounts fluctuate from one month to the next, interest rates have been dropping since February.

First-time Buyers Account for 60 Percent of Purchases
According to a new report, first-time homebuyers now make up 60 percent of all home purchases. On GSE loans, first-time buyers comprise 47 percent of loans, while on FHA loans, they account for 82 percent. The uptick is likely due to an improved economy, lower unemployment, rising income, and more new home construction.


High Down Payments Alter Young Homebuyer Priorities
Many young homebuyers are more focused on personal achievements, such as dream jobs and travelling, than “traditional,” long term life milestones, such as marriage and parenthood. Shifting priorities along with high down payments and the amount of time required to save for these payments are among the reasons why millennials aren't settling quite yet. 

Homes are Shrinking Again
New single family homes have been shrinking, according to the National Association of Homebuilders (NAHB). According to the NAHB data, home sizes reached a plateau in 2015 and 2016 after experiencing a steady rise post-recession, but have started to drop off since. The post-recession increase in single-family home size is consistent with the historical pattern coming out of recessions.


23 Money Mistakes To Avoid In Your Twenties
Looking at the ten money mistakes you’re most likely to make in your twenties can help you pinpoint where you’re going wrong and what you can do about that. It will help you set up good habits that will give you a healthy relationship with money beyond your twenties! So, here are the ten way you could be going wrong money wise.


7 Trends That'll Be "in" for 2017 — and 3 That'll Be "Out"

"We spoke with top designers so you can stay up to date."


Homes are selling 8 days faster this spring, says realtor.com

Prices are booming, but that isn't stopping inventory from flying on and off the market.



Five Tips for Your Home Renovations
If you are going to remodel your home please read this article. The process can be daunting, so make sure you do all your due diligence.



Should I Sell or Rent Out My House? How to Weigh the Pros and Cons
Many homeowners who need to move decide to sell their current home so they can have plenty of cash to buy their next digs. Still, though, some might wonder: Should I sell or rent out my house? It’s a good question.




How To Save For A Real Estate Down Payment: 20 Financial Experts Share Their Tips
Here are some great tips from financial experts that can help you save! Saving for your down payment is not always easy.


Now It's FHA's Turn to Raise Loan Limits
Right before Thanksgiving, the Federal Housing Finance Agency announced it will be raising the maximum conforming loan limits on GSE-backed mortgages. The Federal Housing Administration has now raised the maximum amount on mortgages it will insure in most parts of the country.

Budget Kitchen Remodeling: 5 Money-Saving Steps
Can’t afford an entire kitchen remodel in one fell swoop? You can complete the work in 5 budget-saving stages (and still cook dinner during the down time).

What’s a Home Worth? A Lot More These Days
onsumers expecting home prices to go up in the next year fell 3 percent, and those who expect mortgage rates to drop and those who are confident about not losing their job each dropped 1 percent last month.

Challenges Easing for Millenials and First-Time Buyers
The down payment has tradtionally been cited as the most common obstacle to homeownership.  But apparently, it may not be as big an obstacle as originally thought.

Cool New Tile Ideas for Your Kitchen, Bathroom, and Beyond
If your bathroom or kitchen is plastered in plain old tiles that don’t rock your world, why not shake things up with an update? Look no further than these mind-blowing new tile ideas you can pull off in your own home. Wherever you put them, that area is bound to become the crown jewel of your house.

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Updated 6/20/2017

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