Limited Homes for Sale

Category: Blog

According to Freddie Mac’s July forecast, home sales will be dampened this year due to a shortage of inventory and rising prices. Existing home sales in 2019 probably will total 5.34 million, matching the number in 2018. New-home sales probably will grow to 650,000, compared with 620,000 last year, the mortgage financier said. There likely will be 1.26 million housing starts, including single-family […]


Pending Home Sales Rebound

Category: Blog

The nation’s healthy economic environment drove an increase in pending home sales, pushing the index forward 2.8% in June, according to the latest report from the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contract signings, slightly increased to 108.3 in June, rising from May’s 105.4. NAR indicates that year-over-year contract signings […]


Is Cash Really King?

Category: Blog

Just a few years ago, more than a third of home buyers didn’t blink at throwing down cold hard cash to make their purchases. But the share of all-cash home buyers has trended down since 2014 and the decline has accelerated in recent months. In June, just 16% of home buyers paid in cash, down from […]


Mortgage Borrower’s FICO Score Rises

Category: Blog

The average credit score of borrowers who got all types of mortgages in June rose to 731, an almost three-year high, as a strong labor market helped Americans pay their bills on time.  The rate was the highest since September 2016, according to Ellie Mae. Measuring just conventional mortgages backed by Fannie Mae and Freddie Mac, […]


2020 Recession Predicted

Category: Blog

If it feels like housing and mortgage professionals have perpetually braced for a downturn over the last five years, it’s because they have. The cyclicality of the market is due to turn down, but prolonged economic expansion could protect homeowners when it does. While housing’s far from bulletproof, the sector has a stronger foundation in place, due […]


Mortgage Rates Sink

Category: Blog

This week, the 30-year, fixed-rate mortgage averaged 3.75%, falling from last week’s 3.81%.  A year ago, the rate averaged 4.54%, according to the Freddie Mac Primary Mortgage Market Survey. “Mortgage rates continued to hover near three-year lows and purchase application demand has responded, rising steadily over the last two months to the highest year-over-year change since the fall of 2017,” Freddie […]


Mortgage Application Activity Falls

Category: Blog

Fewer consumers applied for mortgages last week even as interest rates declined by 3 to 4 basis points for all product types, according to the Mortgage Bankers Association. “Mortgage rates right now are comparable to the average rate of 4.1% for June, but refinances last week were 7% lower than last month,” Joel Kan, the […]


Best and Worst Places to Raise a Family

Category: Blog

The average American is estimated to move 11.4 times in their lifetime.  What causes a person to move that many times? What is the driving force behind the decision to relocate where they did? To determine the most family-friendly places in America, WalletHub used 47 key metrics to compare the 182 cities put into consideration, including the […]


Home Sales Race in June

Category: Blog

With housing supply constrained and mortgage rates on a downslope throughout the year, buyers jumped at purchasing a home when the opportunity arose in June, according to Redfin. While prices rose 3.4% annually to a median of $321,200, it was a step down from 5.5% in June 2018. With affordability boosted through slower appreciation and low interest rates, the median home […]


Mortgage Without Credit Score?

Category: Blog

For the better part of this decade, there’s been a movement afoot to try to get the two main sources of mortgage financing, Fannie Mae and Freddie Mac, to begin using newer credit scoring models that use factors like a person’s bank account history or utility payments as a consideration when determining their creditworthiness. Fannie and Freddie’s overseer, the Federal Housing Finance Agency, put an end to […]