FHA drops fees 1500/year, how will this impact the spring real estate market?

FHA drops fees 1500/year, how will this impact the spring real estate market?

Last week, the president announced an action that will save homebuyers and homeowners with new FHA-insured mortgages $1500 per year (assuming a 500k home), lowering housing costs for an estimated 850,000 home buyers and homeowners in 2023. On the surface, the change...
Harder for Borrowers to Secure a Loan in February, Credit Availability Hits record low

Harder for Borrowers to Secure a Loan in February, Credit Availability Hits record low

As a private lender, my call volume and closings the first quarter have been off the charts as borrowers fall out of more conventional products.  This trend is now playing out with the Mortgage Credit Availability Index showing substantial tightening of credit for all...
2 banks implode, largest since 2008, is this a trend, impact on real estate

2 banks implode, largest since 2008, is this a trend, impact on real estate

  Over 48 hours two banks failed for very different reasons. There is a saying in banking that when rates rise and easy money runs out, we will find the skeletons that have been lurking in plain sight.    Are we in for a 2008 rerun?  What caused the sudden...
Soft landing, brace for a much better spring real estate market  

Soft landing, brace for a much better spring real estate market  

In only a couple of months, the world has changed substantially.  In December, inflation was supposedly decreasing rapidly and the odds of a soft landing were non existent.  Fast forward a few months and inflation is running hot, consumers are spending like crazy,...
Big changes to Freddie seasoning requirements: how will this impact the housing market

Big changes to Freddie seasoning requirements: how will this impact the housing market

Beginning in March of 2023, Freddie Mac, the largest buyer of mortgages is drastically changing the seasoning requirements for any loans it purchases which basically means any new conventional conforming loan will have to follow the new rules.  What big changes are...