If you are following home purchase trends, whether you are a buyer or a seller, you will find many sources and indexes that will help you in your decision making process.
Understanding Fannie Mae’s Home Purchase Sentiment Index (HPSI)
2020
Nearly 20 Million Home Owners Could Save Money by Refinancing Now
Mortgage refinance rates are at such a low point that, according to a recent article on CNBC.com, nearly 20 million home owners could save money if they refinance now. Are you one of the 20 million?
Highest Record in 35 Year History of the Housing Market Index
The National Association of Home Builders (NAHB) coupled with Wells Fargo 35 years ago to create the Housing Market Index (HMI). NAHB.org defines the NAHB/Wells Fargo Housing Market Index (HMI) as based on a monthly survey of NAHB members designed to take the pulse of the single-family housing market. The survey asks respondents to rate market conditions for the sale of new homes at the present time and in the next six months as well as the traffic of prospective buyers of new homes.
Mortgage Forbearance Plans during the COVID-19 Pandemic
Understanding Mortgage Forbearancce Plans, and taking advantage of them during the COVID Pandemic provides borrowers with options, but it’s important to understand how the programs work and what the impact of entering into a plan will have on the future of your mortgage.
Keep Your Eye On: Now
There is a lot of talk and prediction about the future of mortgage interest rates and home sales prices. The variables that lie in the future for both of these topics will happen. What does this mean for those of us who are considering refinancing or purchasing a home? It means that interest rates and home prices may go up or may go down.
Home Purchase Demand Continues Strong
With many changes happening throughout 2020, one thing has remained consistent; the growth of home purchase demand. The combination of historic low mortgage interest rates and lowering available homes for sale, the pressure has created home purchase demand.
Outcome of Recent Federal Reserve Policy Meetings included the intent to hold rates low until inflation increases
A recent article on CNBC.com, written by Jeff Cox, and Titled: Fed holds rates steady near zero and indicates it will stay there for years, includes the following statement “Projections from individual members also indicated that rates could stay anchored near zero through 2023. All but four members indicated they see zero rates through then. This was the first time the committee forecast its outlook for 2023.” The article details the projections and expectations of the policymaking Federal Open Market Committee.
With Mortgage Rates at Record Lows, How Can Buyers Know When To Pounce?
The year of 2020 will be remembered by many people and for many reasons. The year was rocked by a pandemic with a ripple effect that created an economic recession; complex social unrest; and a highly polarized presidential election. Oh, and let’s not forget it was also a year of historically damaging wildfires and hurricanes!
Builder Confidence Index Matches All Time Record High
The Builder Confidence Index has been in existence for 35 years as a gauge of Builders confidence in the future of single-family home sales. The Index matched the all time record high from 1998.
Have You Heard about 1.99% Mortgage Rates? There’s a Catch!
The mortgage industry has been offering incredibly low rate loans with low or no fees. Recent weeks have seen some mortgage lenders promoting their new 1.99% fixed rate loans, but it’s important to understand the fees involved in these loans. They might be a very good choice for some borrowers but are also a very wrong choice for many.