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Good News! Existing Home Sales Up And FHFA Home Prices Rise

After months of reports of slowing home price momentum and forecasts of a lagging housing market, we are pleased to report an increased volume of existing home sales as reported by the National Association of REALTORS®. The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, reported rising prices for homes connected with Fannie Mae and Freddie Mac mortgages. Here are the details. Pedal to the Metal: Existing Home Sales Achieve Fastest Rate in a Year September sales of previously owned homes reached a seasonally adjusted annual rate of 5.17 million sales against expectations of 5.10 million…
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Did You Know: Five Factors That Lenders Won’t Even Consider When Assessing You For a Mortgage

Are you thinking about buying a new home? If you're going to apply for mortgage financing, you can rest assured that your lender will be checking in to your credit history, income and other items in order to assess your ability to manage this debt. However, there also quite a few variables that they won't inspect during the due diligence process. In today's blog post we'll look at five factors that a lender or mortgage underwriter won't consider when assessing your suitability for a mortgage loan. Your Family Status It's against the law for lenders to make any special considerations…
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Moving to a New City? Tips for Finding a Family-friendly Community to Buy Your New Home In

If you're moving to a new city with children, one of your likely considerations is finding a family-friendly community where you can settle in and call home. In this post we'll share a handful of tips that you may find helpful if you're searching for a family-friendly neighborhood in a new city. Check Out The Quality Of Local Schools Schools are one of the cornerstones of a community and high-quality schools are a sign that a community is suitable for your family. When you've made your short list of communities that you are considering, take some time to research the…
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First-time Home Buyer? Don’t Miss These Tips to Ensure Your Mortgage Application is Approved

Are you buying a home for the first time? Congratulations! Buying your own home is an excellent way to build your net worth while living in a space that you can renovate and truly make your own. If you're going to be taking out a mortgage to help pay for the up-front costs of your home, you'll want to get a head start on the approval process. With that in mind, below are four handy tips to ensure that your mortgage application is approved on your first try. Gather All Of The Necessary Information And Paperwork You're going to need…
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What’s Ahead For Mortgage Rates This Week – October 20, 2014

Last week's economic highlights included the National Association of Home Builders (NAHB) Housing Market Index for October. The Commerce Department also released Housing Starts for September. Freddie Mac reported that the average rate for a 30-year fixed rate mortgage dropped below four percent. The Fed released its Beige Book report, and Weekly jobless claims came in lower than expected. Here are the details: Homebuilder Confidence Slips in Spite of Lower Mortgage Rates U.S. Homebuilder confidence in housing market conditions slipped by 5 points to October's reading of 54 as compared to September's reading; this was also lower than the expected…
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NAHB Reports: Home Builder Confidence Drops in October

The National Association of Home Builders (NAHB) reported that home builder sentiment lost its momentum in October and posted a seasonally adjusted reading of 54 in its Home Builder Market Index. This reading was five points lower than expected and also five points lower than September's reading. October's reading was the first time in five months that builder confidence has fallen. To put October's reading in perspective, things aren't all that bad. A reading over 50 indicates more builders are confident about housing market conditions than not. Also, October's lower reading of 54 after the HMI reading reached a nine-year…
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