How Do Homes Impact Health?

Indoor air pollution is 4 – 5 times worse than outdoor air and sometimes even greater. We spend 90% of our time indoors. 15% of homeowners may be allergic to elements in their own homes. Prevalence of asthma has double since 1976. Indoor air pollution has been described by EPA and Congress as America’s numberContinue

Housing affordability Keeps on Going!

Housing affordability is up nationwide due to low-interest rates and home prices as National Homeownership Month begins in June, according to a recent release from the National Association of Home Builders (NAHB). In addition to lower prices and interest rates, low-down payment programs offered by Fannie Mae and Freddie Mac is also helping creditworthy borrowersContinue

Existing home sales slightly rebound

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 1.2% to a seasonally adjusted annual rate of 4.88 million in February from 4.82 million in January. Sales are 4.7% higher than a year ago and above year-over-year totals for the fifth consecutive month.

Mortgage Rates plummeted today after Fed’s announcement

While the average improvement of 0.10% might not look like much at face value, it’s the biggest one-day drop we’ve had in 2015, and in a league with very few other players historically. With today’s improvement, the most prevalently-quoted conventional 30yr fixed loan for top tier borrowers falls back to 3.75%.   Some lenders will remain at 3.875%Continue

Negative Equity continues being a Serious Concern Despite Year Over Year Decline!

While the percentage of homes in the United States with negative equity has declined substantially since the fourth quarter of 2013, they experienced a slight increase quarter-over-quarter in Q4 2014, according to CoreLogic’s Q4 2014 Equity Report released last Tuesday. CoreLogic reported that 10.8 percent of all residential homes were underwater in Q4, this isContinue

Mortgage rates fell!

Economic data affects rates by motivating investors to seek out or avoid risk. Higher demand means higher prices and lower rates.  Investors are looking for clarity on the Fed’s plans regarding raising rates, among other things. From here on out, volatility becomes an increasing risk heading into the Fed’s Announcement next Wednesday. It can either workContinue

Keep Your Money Where It Is, if you’re planning on buying a home!

It’s not wise to make any huge purchases or move your money around three to six months before buying a home. You don’t want to take any big chances with your credit profile. Lenders need to see that you’re reliable and they want a complete paper trail so that they can get you the bestContinue

Opening Doors for Homebuyers!

The Federal Deposit Insurance Corporation is the first of six financial regulators to release the final version of the long-awaited qualified residential mortgage (QRM) rule. The National Association of Realtors applauds this action because it will make possible to incorporate rules that include a broad definition for Qualified Mortgage standards implemented earlier this year. UnderContinue

Sales of Existing Homes Increase, however not enough

Sales of previously owned homes rose in September to the highest level in a year, adding to signs that residential real estate will be a plus for the economy. National Association of Realtors reported today in Washington that closings on home sales advanced 2.4 % to 5.17 annual rate, and purchases rose 1.9% from theContinue

Homeownership at Best!

Federal Housing Finance Agency has been working towards a plan to open what many we see as underwriting standards that are too restrictive. Mortgage giants Fannie Mae and Freddie Mac, their regulator and lenders are close to an agreement that could greatly expand mortgage credit while helping lenders protect themselves from charges of making bad loans, according to people familiarContinue