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Your Mortgage View | November 13, 2017

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Bad Neighbors Can Cost You Buying a home is one of the biggest investment any person will make in their lifetime. But how often do potential buyers do as much due diligence on their next-door neighbors as they do with, say, the decor in the bathroom or square footage in the yard? Some 25% of home buyers said they regret …

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Your Mortgage View | November 6, 2017

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Luxury Supply Plummets While Demand Rises In the past two weeks, demand for homes above $1.25 million increased from 302 to 325 pending sales, up 8%. That is a solid improvement and a clear indicator that the luxury market is making its final push to close out the year strong. The luxury home inventory decreased from 1,818 homes to 1,712, …

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Your Mortgage View | October 23, 2017

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 Is the Fed going to bump the rates in December? There is a lot of speculation in the news about when—or if—the Federal Reserve (“The Fed”) is going to “raise rates.” Many people about to buy a home or apply for a refinance mortgage are wondering, too. Is the Fed going to bump the rates in December? With all the …

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Your Mortgage View | October 16, 2017

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 First-time Home Buyers More Optimistic: A nationwide shortage of housing inventory has been pushing prices ever higher. First-time buyers have often found themselves competing with two, three or more other buyers when they make an offer on a home. They are often outbid in the “auction” atmosphere of multiple offers. The frustration of losing out to competing buyers with larger …

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Your Mortgage View | October 2, 2017

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 Inventory Shortage Hampers Pending Home Sales: The National Association of Realtors released their Pending Home Sales report and there is a glaringly obvious issue: Lack of inventory available for purchase. The Pending Home Sales Index a forward-looking indicator based on contract signings, retreated 2.6 percent to 106.3 in August from 109.1 in July. The index is now at its lowest …

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Your Mortgage View | September 25, 2017

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Luxury demand tumbled by 11% in the past couple of weeks, while the inventory dropped by only 1%. In the past two weeks, demand for homes above $1.25 million decreased from 358 to 318 pending sales, an 11% drop, representing a major shift in the luxury market. The luxury home inventory decreased from 1,979 homes to 1,959, a 1% drop. …

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Your Mortgage View | September 18, 2017

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Homeownership Remains a Top Priority among Consumers The dream of owning a home is still viewed as the number one as a long-term financial goal for Americans, with 54% saying it was their primary long-term financial objective – an 11% increase from last year. That is according to a recent survey conducted by Report Linker. In fact, 81% say home …

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Your Mortgage View | September 11, 2017

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Sellers Still Expect Prices to Rise The Fannie Mae Home Purchase Sentiment Index® (HPSI) increased 1.2 points in August to 88.0, just below the all-time high set in June. The net share who reported that now is a good time to sell a home rose 8 percentage points in August and is now up 21 percentage points compared to the …

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Your Mortgage View | August 29, 2017

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Existing Homes Sales Show Tight Market The National Association of Realtors released their recent Existing Home Sales report for July, and it showed a very tight housing market. Existing Home Sales are the single best measure of the health of the real estate market as they are completed transactions of single family homes, townhomes, condominiums, and co-ops. Here are some …

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Your Mortgage View | August 22, 2017

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Home Builders’ Sentiment Jumps The National Association of Home Builders (NAHB) released their recent Housing Market Index, and it showed a very robust reading of 68. It’s the 4th highest reading since 2007. Any reading above 50.0 is considered positive for the housing market. Builder confidence in the market for newly-built single-family homes rose four points in August to a …