Feds likely to pause interest rate hikes, for now



After raising interest rates several times in 2018, the Federal Reserve seems likely to hold off on any further increases. During the Fed’s latest meeting this month, board members agreed not to raise the benchmark interest rate now or at its next meeting in March. Still, Federal Reserve officials did say they can expect to […]

Fannie Mae provides guidance for mortgage issuers



Fannie Mae has issued guidance to lenders this week, explaining how they can continue to originate mortgages during the government shutdown. The guidance is necessary because verification of employment, social security numbers and other details could be troublesome at this time, officials said. The partial government shutdown has now been ongoing for 14 days, and […]

Rising rates to erode affordability in 2019



With home value growth apparently stalling, price cuts becoming more regular and for-sale inventory on the up, it sounds like an optimistic time to be a home buyer. But, steadily climbing mortgage rates are threatening to eliminate whatever advantages buyers may have gained in 2018, Zillow says. In a new analysis, Zillow notes that interest […]

How mortgages will be impacted by latest increase in interest rates



The Federal Reserve caused a stir last week when it voted to raise interest rates yet again – the fourth time its done so this year. Now, the real estate industry is bracing itself to see how the latest rate increases will impact mortgage rates as we head into 2019. The Federal Open Markets Committee […]

NAR President elect Vince Malta proposes changes to Bipartisan Financing Reform Act



Reform of the secondary mortgage market was the subject of a new bill heard by the House Financial Services Committee last week, which was given the thumbs up by incoming National Association of Realtors President Vince Malta. RealtorMag quotes Malta as saying that the Bipartisan Financing Reform Act of 2018, put forward by Rep. Jeb […]

Millennial buyers struggle most to save a down payment



Saving for a down payment is the biggest hurdle to homeownership, and the size of that down payment sets the stage for the entire home shopping experience. It can make the difference between a monthly mortgage payment that’s affordable and one that stretches a household’s budget too thin. The 2018 Zillow Group Consumer Housing Trends […]

Fannie Mae & Freddie Mac announce foreclosure moratorium for Xmas



Fannie Mae and Freddie Mac, the government sponsored mortgage servicing giants, have both announced a nationwide suspension of eviction lockouts on foreclosed homes for the duration of the Christmas and New Year holidays. The moratorium on foreclosures will run from December 17 to January 2, and will apply to any foreclosed occupied home that’s owned […]

Here’s where you can get help with your down payment



Surveys of first time buyers routinely show that saving for a down payment is one of the biggest hurdles on the way to homeownership. But those buyers may well misunderstand how much cash they actually need to save. “Paying 20 percent down is, quite frankly, a myth,” Karen Hoskins, vice president at NeighborWorks, told HouseLogic. […]

3 common mistakes of first time buyers



Buyers who’re making their first home purchase often struggle with the same few parts of the transaction process that they’re unfamiliar with, and this can cause them to make decisions they later regret, according to real estate investor Barbara Corcoran. Corcoran, during an interview on CNBC’s “Making It” show, said: “The faster you buy your […]

Freddie Mac will finance loans for manufactured homes



Government-backed mortgage servicing organization Freddie Mac says it will begin financing loans for manufactured housing, in an attempt to make those homes more affordable to buyers. Freddie Mac said in a statement that the idea is to run a two year pilot program called CHOICEHome, which will provide financing in the form of a traditional […]