Lenders get a jump on higher conforming loan limits for 2024
Lenders are not waiting until the new conforming loan limits are official, as one has bumped up the conforming limit on single family residences to $750,000! That means you could borrow $23,800 more right now than you could at any other time this year and still have a conforming loan. That will come in handy…
Read the full articleFed rates same, so what does it mean?
The Fed (Federal Reserve) has kept rates the same in their latest meeting. No up, no down…so what does this mean for you and me? Well, since they at least hinted that they might raise rates again at their next meeting, then the obvious action to take is do your purchasing or refinancing now, not…
Read the full articleThinking Points
Thinking Points! What goes up, must come down! The reverse is true as well. Remember the Covid-19 years? Mortgage rates hit all-time lows and stayed that way longer than they should have. This created the need to raise rates rapidly to cool down the economy. It should have never come to that, but it seems…
Read the full articleReal Estate Rates are Stagnant
Real estate rates are stagnant for 30 year fixed mortgages and have remained stagnant for a couple of months now. There doesn’t appear any shocking news that will make them change either. The war in Ukraine, North Korean rocket tests, Iranian Navy boats harassing other countries ships in the Persian Gulf nor any other subject…
Read the full articlePre-Qualifying For A Real Estate Purchase
Pre-qualifying for a home loan is always a smart thing to do, but today’s real estate market makes it even more important. Pre-qualifying for a real estate loan in a buyer’s market is wise, but not as necessary, because you are likely to be the only person making an offer on the home. But today,…
Read the full articleMortgage Interest Rates Today
Mortgage interest rates as January 11, 2023! Mortgage interest rates today reflect the steadiness of the market throughout the holidays. Mortgage interest rates have stayed in a narrow range for the last three to four weeks, with today’s looking at about 6.125%, 30 year fixed and no points for 20% down payment on a conforming…
Read the full articleVeterans Day
Make sure you put out your flag for Veterans Day today! As the old saying goes, “If you love freedom, thank a veteran!”. Veterans Day is the perfect time to bring out Charles M. Province’s poem, “It is the Soldier,”: It is the Soldier, not the minister, Who has given us freedom of religion. It is the Soldier,…
Read the full articleReverse Mortgage
Is a reverse mortgage right for you? Are you 62 or older with low income and high equity in your home? If so, a reverse mortgage just might be the right tool for your household budget. A reverse mortgage will allow you to stay in your home as long as you live (providing you keep…
Read the full articleConcessions from seller can help!
With fewer buyers vying for the same home, you are likely to be the only one making an offer on the home your prefer. So with this lack of competition, comes, in most cases, the ability to negotiate concessions from the seller, or even your real estate agent! For instance, if you were to purchase…
Read the full articleA Napa Realtor Tale
Spent the day yesterday with a Napa realtor. He told a story of a couple he represented that wanted to buy a home in Napa during the recent time period where multiple offers were the norm. In a nutshell, and against his advice, the couple he represented did not give their final and best offer…
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