Mortgage bankers say most (77%) homeowners in forbearance already have a payment plan in place – and many who don’t will likely sell rather than go through foreclosure. For most sellers, high home prices will allow them to pay off the mortgage and not even ding their credit scores.
The average 30-year, fixed-rate mortgage dropped to 2.9% from last week’s 2.98% in Freddie Mac’s weekly survey. The 15-year loan and ARM rates also declined.
An “every penny counts” approach by buyers boosted ARMs 12.5% year-to-year, even though average ARM rates (2.54%) are only a bit lower than FRM rates (2.98%).
Florida Realtors economist: Need to find an untapped source for new clients? Look past your own turf to the largest source of movers coming from a different county or state. If 10% of your new residents come from Any County, N.Y., spend some marketing dollars in Any County.
The groundwork for today’s inventory shortage was created during the 2008-2009 Great Recession. The pandemic merely made existing problems worse.
Owners dazzled by their home’s equity sometimes keep more than they should in a cash-out refinance – but that can lead to foreclosure if home prices drop even a bit.
The city put a QR Code on the front of every vacant house. Realtors, neighbors and curious onlookers can quickly find out who owns the property via their cellphone.
The line between “a condo owner’s obligation to fix” and “the association must fix” isn’t always clear, especially if a number of people contributed to the problem.
When the Fed moves to slow inflation and moderate the economy, Boston Fed Pres. Eric Rosengren thinks housing should be targeted first to avoid any “boom and bust.”
$250K homes are out there, but finding one largely depends on where a buyer chooses to live. South Floridians have sometimes moved about 80 miles north to find lower housing prices, but each area of the state has a few areas – typically smaller towns – with a few $250K homes.