All posts tagged: Mobile Notary

Adverse Market Fee is Being Eliminated

The Adverse Market Fee is defined as a 0.5% fee added in 2020 to refinanced mortgage loans backed by Fannie Mae and Freddie Mac (about 70% of all home loans). It was charged to lenders and usually passed on to homeowners through closing costs, as an addition to their loan amount or by a raised interest rate.

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Notary Near YouAdverse Market Fee is Being Eliminated
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California’s Hot Real Estate Market Continues to Rise

Sale of residential properties in California continue to perform at the hottest pace in history, resulting in a 65% increase in number of sales over the same period last year. The number of homes sold above asking price, the price per square foot, and the sales-to-list price records are all at industry highs.

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Notary Near YouCalifornia’s Hot Real Estate Market Continues to Rise
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Fed Bank President Comments on Future of Interest Rates

In a recent article on Reuters.com they report that “Fed officials agreed last month to leave interest rates near zero and to keep purchasing $120 billion a month in bonds until the U.S. economy makes substantial further progress toward the Fed’s goals for inflation and maximum employment” They further inform us that “Fed Bank President Robert Kaplan said on Monday that he still thinks it is possible the U.S. central bank could raise interest rates before the end of 2022, reaffirming the projection he made during the March policy-setting meeting.

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Notary Near YouFed Bank President Comments on Future of Interest Rates
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Millennials Are Largest Segment of Home Buyers for 8th Consecutive Year

According to reports from the National Association of Realtors (NAR), millennials represent 37 percent of all homebuyers this past year, and have made up the largest share of homebuyers for 8 consecutive years.  Another interesting fact from the NAR is that many of the homes being purchased are considered multigenerational homes that will house adult siblings, adult children, parents, or grandparents.

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Notary Near YouMillennials Are Largest Segment of Home Buyers for 8th Consecutive Year
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Home Purchase Mortgage Applications up 42% in December 2020 compared to Prior Year

Home sales were strong throughout 2020, with purchase applications up 42% in December 2020 compared to same period in 2019. These results are much better than many projected in early 2020, when the Covid Pandemic brought our nation to a standstill for months. The historically low mortgage interest rates in 2020 is the clear reason for the stellar home sales market performance.  

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Notary Near YouHome Purchase Mortgage Applications up 42% in December 2020 compared to Prior Year
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