According to the Fed, due to weaker than expected gross domestic product returns, the Fed rate will remain unchanged. In other words, because they don’t see what they would like to see, rather than increase rates, they decided to tap the brakes and evaluate the situation. Umm, where did I hear that before? Seems like the prudent thing to do.…
Mortgage applications declined in last week by 3.2%, an 18% decline from the same period last year. According to some reporters, this decline is the direct result of President Trump’s decision to suspend the FHA annual premium rate cut announced by FHA just prior to his inauguration. (Applications) Get real… Yes, applications are down, and yes, somewhat because of the…
With a new Administration comes a new look at housing and homeownership. Homeownership rates have been on the decline since the housing crash of 2008. To get them back on track, it may be time for some changes. The stigma associated with mortgage lenders is fading. Taxpayers and home buyers have much more confidence in mortgage lending and lenders. The…
Who isn’t? With the forecast for rising mortgage rates, limited home supply and fewer refinances, mortgage lenders and banks will be fighting to grab a bigger piece of a shrinking pie. Although 2017 is forecast to be a pretty good year for home purchase financing, with so many lenders vying for this business things may get tough. Especially for those…
The outlook for 2017 looks good for home repair and remodeling. Both the Joint Center for Housing Studies at Harvard and the National Association of Homebuilders are forecasting a strong 2017 home repair/remodeling market. This may also open some new doors for home financing to mortgage lenders. Although the home purchase market is still projected to improve in 2017, with…
Well, it happened. As some have been forecasting a stock market crash, the DOW broke the 20,000 mark on Wednesday, showing continued strength. Whether from the “Trump Bump” or not, things are looking up for the markets. What does that mean for mortgage rates and mortgage lending? Not all outlooks are so rosy. If rates continue to rise it may…
