New built home sales had a very big miss this week. The sales of newly built homes sank to the lowest rate since the start of the Covid pandemic. A decline of 16.6% in April from March, was far more than expected (signaling weakness amongst homebuilders) and were down 26.9% from April 2021, according to the U.S. Census.
A new piece of legislation aims to assist VA buyers get their purchase offers more readily accepted. Although it is not common in San Diego for VA eligible borrowers to be outbid regularly, there are other parts of the country where that is the case.
Inflation has been dominating headlines for much of 2022. Federal Reserve policy decision making and rate hikes have contributed to some of the most quickly appreciating mortgage rates we have seen in years. There is a reason for it, whether we like it or not. However, this week’s question is: How can inflation eventually lead to lower mortgage rates?
Wednesday May 4, 2022 Jerome Powell and the Federal Reserve announced their short term interest rate hike of +0.50%. This brings the Fed Funds Rate to a range of 0.75% – 1.00%. Previous commentary about rate hikes through 2022, and possibly into 2023, remain in place as the Federal Reserve desperately attempts to cool and control continuous inflation across the economy.
Here are some of the most frequent uses of the VA cash out refinance. Below are several tips and suggestions for using your VA home loan benefit to take advantage of historic home equity values and accomplish your personal financial goals.
Removing your Mortgage Insurance can save you hundreds a month and thousands per year. By this time, it is well known that the real estate and mortgage markets went on an absolute tear since 2020. Home price appreciation has been at its all-time high during an unbelievably short period of time.
Bottom line upfront: The wind has been at our sails for over a year. Now its time to grab an oar and start rowing. By this time everyone is well aware that drastic measures were taken across the board at the beginning of the coronavirus pandemic in 2020.
Just in the month of March alone, some mortgage programs experienced rate increases of +1.0% or more (depending on the loan scenario). Many are asking us directly, and we bet more are asking themselves privately, “What do I do now?” In this article we will address some things you may need to consider now…
The real estate market over the last two years has been the hottest we have historically ever seen. With that has come a wild variety of buyer offers, buyers outbidding one another, waiving contingencies on appraisals and home inspections, and even overbidding well above the market value just to get in a property…
Wednesday March 16, Jerome Powell and the Federal Reserve announced their interest rate increase of 0.25%. After months of speculation and shifting opinions on where they would finally lay their decision, we now know what we’re facing in the immediate timeframe…