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Under 35 Homeownership Rate Increases

The Rate of Homeownership has increased from 34.3% to 35.3% from first Quarter 2017 to Second Quarter 2017 for those under 35 years of age, according to a report from the United States Census Bureau. While popular media seems to portray Millennials as a generation of renters, a whitepaper from First American lists six reasons …

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HUD Lowers Mortgage Insurance Premiums for Most FHA Loans

The Department of Housing and Urban Development announced on Monday that they plan to reduce the Mortgage Insurance Premium for FHA mortgage loans. Since 2012, the Federal Housing Administration’s(FHA) Mutual Mortgage Insurance(MMI) Fund has gained $44 billion, and is now 32 basis points above the 2 percent threshold level required by Congress. This is ~$13 billion more …

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Conforming Loan Limits Set To Increase For 2017

The Federal Housing Finance Agency has announced that it is increasing the maximum conforming loan limits for mortgage loans beginning in 2017.  A mortgage loan is considered “conforming” when it is eligible to be acquired by Fannie Mae and/or Freddie Mac. (Mortgages are often sold to Fannie or Freddie so that a lender has the liquidity/money available …

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Appraisal Shortage Causing Delays In Home Sales

CNBC published an article on their Real Estate blog entitled, “‘Massive’ shortage of appraisers causing home sales delays” Below are a few quotes that summarize the story quickly, in case you don’t have the time or patience to read the article yourself. “The appraisal shortage is massive. You’re seeing significant delays, you’re seeing cost increases, …

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Home Prices and Mortgage Interest Rates to Rise in 2016

Your home’s mortgage payment is based on the price of the home (minus the down payment), and the interest rate for the loan. Both prices and interest rates will likely rise in 2016. Home Prices CoreLogic anticipates a national 5.2% home value increase for the next year. The percentage varies by state, with WA, CA, NV, UT, AZ, NM, FL, and …

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