Those seeking their first home or affordable housing have had a difficult time recently finding housing that they can actually afford. Millennials and those who lost their homes in the 2008 crash have driven up the cost of rental housing, while other existing homeowners took advantage of the low rates and have already refinanced. This removed many affordable homes from…
While Britain’s exit from the European Union is all the talk, the exit of the big banks from FHA lending offers an increased opportunity for Independent Mortgage Lenders and smaller Community Banks. “Banxit” has left the FHA-insured mortgage financing mainly in the hands of the independents. With the turmoil over the UK’s move, it seems that mortgage rates in the…
Recently, we’ve read and heard much about what needs to be done to improve homeownership opportunities. A recent survey shows that many Americans are concerned with the housing market and believe the presidential candidates need to address this issue. The surveys say the lending industry and the government need to do more. Is this true or is it that consumers…
The jury is still out on what the overall effects will be from Britain’s exit from the European Union. One thing seems certain, home mortgage interest rates will remain low, and may even decrease further in the short-term. Would that be “Ratefall” or “Lowrates”? That is good news for consumers. With the fed expected to keep rates low, for now,…
What does Britain’s exit from the European Union, or Brexit, mean for us here in the USA? There’s much speculation but one thing for sure is the effect on the mortgage rates. The Fed had previously increased rates with plans for a few more hikes in 2016. Partly based on speculation that Britain might leave the EU, they decided to…
There is an ongoing concern for the national homeownership rate. It’s way down to only 63.5%. That’s a huge drop of 5.6% from the peak (pre-2008) of 69.1%. (I hope you get my sarcasm). Is the fact that more than 60% of Americans now own their home so terrible? Given what happened when the homeownership rates crept up close to…
