White House rent protections could provide opportunities for lenders

The Federal Housing Finance Agency has a hand in the Biden Administration’s housing plan and should benefit multifamily borrowers. As director of government-sponsored businesses, he will oversee Fannie Mae and Freddie Mac’s actions to strengthen tenant protections, the White House fact sheet on the plan mentioned. “As part of our work on the White House … Read more

The top 10 markets for first-time home buyers in 2023

It is still dealing with new people in the market mortgage rates above 6% and high housing pricesbut they can secure investments in some up-and-coming cities minutes away from major centers, according to Realtor.com. “For those who have some flexibility in where they live, there are markets where young buyers can find not only an … Read more

The housing market has weakened as the Fed’s rate hikes have affected leasing and financing

“The rise in interest rates by the Fed has their expected effect on prices, due to the reduction of monthly rents in the country,” said Obrinsky. He also said that although the rents are still high compared to last year, it reflects the increase in the price of rent in right now. NMHC’s total sales … Read more

Mortgage rates to fall to lowest levels since September 2022 – giving housing market ‘much-needed boost’

The numbers are: Mortgage rates fell, as the US economy showed signs of cooling. The 30-year fixed-rate mortgage averaged 6.15% on January 19, according to records released by Freddie Mac FMCC, -3.44% on Thursday. It is down 15 basis points from last week – one basis is equal to one hundredth of a percent. Last … Read more

Some home builders are offering mortgage rates as low as 3%. Here’s how – and why – they do it.

Homebuilders are playing it safe by offering mortgage rates as low as 3% on new homes to boost consumer demand. How and why do they do that? For starters, the builders have felt it there is very little darkness these days, as mortgage rates fall and consumer demand rises. Mortgage requirements it went up on … Read more

Some home builders are offering mortgage rates as low as 3%. This is what they do.

Homebuilders are playing it safe by offering mortgage rates as low as 3% on new homes to boost consumer demand. How and why do they do that? For starters, the builders have felt it there is very little darkness these days, as mortgage rates fall and consumer demand rises. Mortgage requirements jump on wednesday, with … Read more

Mortgage demand rose 28% while rates fell slightly

The numbers are: The decline in mortgage rates led to an increase in mortgage demand to an adjusted 27.9% over the period. As mortgage rates fell across the board, demand for sales and refinancing increased. That pushed the market index up, a measure of the number of mortgage applications, said the Mortgage Bankers Association (MBA) … Read more

My wife and I rent our second home to our son and his wife. So we want him to own this house, but keep our 2.5% mortgage. How can we do that?

My husband and I bought a second home two years ago, for $160,000, with a 30-year mortgage at 2.5%. We bought it with the sole intention of renting it out to our son and his new wife. They are recent college graduates, and just starting their careers. They have made this house their home. And … Read more