Vacancy Rate in Home Rentals remain flat

The vacancy rates among single-family rentals remained relatively flat month-over-month despite a general trend of a rising number of lease expirations. This information is based on the June 2015 Single-Family Research Performance Summary covering all Morningstar- Rated Securitizations. “Vacancy rates generally remain low, cash flows remain sufficient to cover bond obligations, and the asset classContinue

Fannie Mae sets new rates effective October 14

Fannie Mae is set to raise the benchmark interest rate for its Standard Modification program. Fannie Mae will raise its required interest rate for standard modifications from 4.375% to 4.5%.  The rate was lowered from 4.5% to 4.375% on Sept. 15, but will now rise again in one week. Fannie Mae announced the change onContinue

New homes sales see biggest monthly jump!

Sales of new single family houses in August 2014 were at a seasonally adjusted annual rate of 504,000, up from July’s printing of 427,000, the fastest rate in six years and the biggest monthly jump since January 1992. The biggest gains and by far the reason for the big increase were new home sales inContinue

Jumbo Loans Cheaper and Easier to Get!

Wealthy home buyers are paying lower average rates on high dollar loans, and in some cases, they don’t even have to worry about a large down payment or mortgage insurance. For months, lenders of jumbo mortgages have been charging interest rates that are lower  than what average borrowers pay. Jumbo loans are mortgages that above $417,000Continue

Mortgage Rates and Terms Beware!

Mortgage rates haven’t moved much this year, and the good news is they’ve been stuck at historically low levels. However, mortgage rates are expected to move higher as we head through the fall. While various groups report national mortgage rate averages each week, the rates you get can vary dramatically from that average, depending onContinue