Mortgages

NEW INCREASED LOAN LIMITS EFFECTIVE IN 2020: WHAT DOES THIS ACTUALLY MEAN?

Just before the end of November, the Federal Housing Finance Agency (FHFA) announced new maximums for 2020 loan limits on mortgages that will be acquired by Fannie Mae and Freddie Mac. For one-unit properties nationwide, the maximum limit increased to $510,400 – a 5.38 percent rise from the $484,530 number from this year. This makes it the …

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AN INCREASE IN MORTGAGE APPLICATIONS SHOWS STRONG LUXURY MARKET

According to the Mortgage Bankers Association, mortgage applications saw a 1.7 percent gain from the previous week, after consecutive declines. Positive mortgage activity plays into the surge of expensive home sales in the third quarter at a 41.5 percent increase. This gain is the largest year-over-year in seven years. Home prices continue to rise due …

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FORECLOSURE IMPACT WILL HIT THE INDUSTRY IN 2021 – BUT IT’S NOT AS BAD AS YOU THINK

The housing market has seen stable recovery, but a flood of mortgage foreclosure impact 2021 to hit the industry is in anticipation of 2021. About one-third of all Americans have missed housing payments in July. Entering into month five; August saw a 9 percent decrease in early-stage delinquencies. According to a consumer report by TransUnion; …

FORECLOSURE IMPACT WILL HIT THE INDUSTRY IN 2021 – BUT IT’S NOT AS BAD AS YOU THINK Read More »

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