The number of existing homes for sale has continued to decline over the past few years. Simply put, this means there aren’t enough homes on the market for those who wish to buy. That’s good for some existing homeowners as it increases their home’s value, but it also makes it difficult for them to find another home, if they sell.…
In case you missed it, or just plain forgot, effective July 1st the 3 credit repositories, Equifax, Experian and Trans Union, will discontinue reporting most tax liens and civil judgments, as well as, any unpaid medical bills of 6 months or less, on consumer credit reports. This is the result of an agreement they made with 31 state Attorneys General.…
According to Freddie Mac, we’ve hit the high point for 2017 loan originations. New business is now expected to decline over the next two-quarters. Further, although purchase volumes are projected to increase in 2018, overall originations are expected to be less due to the decrease in expected refinances. This is not good news for struggling mortgage lenders. According to the…
As a result of the problems encountered in 2007 and 2008, the emphasis has been, and still is, on a housing market recovery through an improving economy, restoration of home values, and protecting consumers against predatory lending. Actions toward this end, include such things as: Placing Fannie & Freddie into a Conservatorship The Treasury investing in Mortgage Backed Securities Creation…
According to Genworth’s most recent First-Time Home Buyer Market Report, first-time homebuyers play a pivotal role in influencing housing inventory and home prices because they represent the shift in demand from rental to owner occupancy. Talk about having a firm grasp of the obvious. Over the past 20 years or so, first time home buyers have represented about 45% of…
With Millennials now entering the home buying market, lenders are looking for ways to best serve their needs. Some recent studies turned up some important and surprising results. For the most part, this new high-tech generation isn’t much different from prior generations when it comes to mortgages. Yes, this group is more tech-savvy and willing to use technology in their…
