Housing Shortage?

Maybe yes, maybe no! Most economic pundits are saying there is a housing shortage…but is there really? Yes and no! Florida and Texas have been building homes rapidly since the beginning of Covid. That was to accommodate all the transfers from mostly blue states, like California and New York. They might have overbuilt, as home…

Fixed or Adjustable, Long Term or Short Term Mortgage Decisions Made Simple What mortgage is best for you?  How do you get that Goldilocks feeling that you did it “Just right”?  It is not as difficult as you might expect and is usually figured out with just a few questions.  For instance, you call me…

Fed to lower rates? We once again are hoping! Federal Reserve Chairman, Jerome Powell, announced today that if inflation will drop sharply, then he and the rest of the Federal Reserve will have no problem in lowering short term interest rates.  This in turn will put pressure on long term (mortgage rates) to drop as…

Homebuyer and homeowner spring tips are best gathered by using the “search” option on your phone or home computer. For homebuyers, you might be reminded that surface beauty does not necessarily mean a well constructed home! Make sure, if you represent yourself, that you order a home inspection and a pest report (they are not…

The Federal Reserve (the Fed), led by Jerome Powell will decide tomorrow (4/10/24) whether they will lower interest rates further to help boost the economy. Trouble for the Fed though, is the economy, at least with the numbers they are reporting, seems to be doing quite well for itself! You may not feel that way,…

New conforming loan amounts rise and are live today! Conforming loan amounts rise for 2024 and they went up more than expected! Now, if necessary, a purchaser or refinancer, can borrow up to $766,550 on a single family residence and still remain below Jumbo loan status! 2-units have been raised to $981,500, 3-units $1,186,350 and…

Help is on the way for 2-4 Unit buyers! 2-4 Units LTV reach 95 percent!  Owner occupied 2-4 Unit residences have been stuck at lower LTV’s (loan to value) for as long as I can remember. That is changing as of November 18th of 2023. At that time, Fannie Mae will accept loans for primary…

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…

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…