In response to the Surfside condo collapse, Fannie Mae says its condominium loan decisions after Jan. 1 will include a stronger look at the overall condo building. Loan decisions will consider current or planned special assessments and any deferred maintenance issues.
Average mortgage rates continue to hover around 3%, but they’ve slowly ticked higher. This week, the 30-year, fixed-rate mortgage averaged 3.05%.
The U.S. birth rate is the lowest it’s been in more than 100 years, and pregnant homeowner couples are a top reason buyers decide to upgrade to a large house.
Loan limits will likely go up to $625K in 2022, but FHFA hasn’t announced it yet. Still, higher home values have convinced some lenders to boost loan limits now.
Officials say Canadians can start returning in early Nov. if they’re fully vaccinated. One twist: It’s unclear if that includes Canadians who got two different vaccines.
In 3Q, the number of U.S. foreclosures surged 67% year-to-year as homes exited forbearance and bans ended. But compared to “normal” 3Q 2019, they’re down 60%.