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New Conforming Loan Limits for 2021
New Conforming Loan Limits for 2021

LOAN LIMITS FOR FANNIE MAE AND FREDDIE MAC INCREASE TO $548,250 IN 2021, AN INCREASE FROM $510,400 IN 2020. The Federal Housing Finance Agency has announced the Fannie Mae and Freddie Mac conforming loan limits for mortgages for 2021. Each year, the baseline conforming loan limit is adjusted accordingly with the change in the average […]

January 05, 2021
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Low Housing Inventory Leads to an Increase in Bidding Wars
Low Housing Inventory Leads to an Increase in Bidding Wars

Many changes are facing home buyers currently house hunting during the Coronavirus pandemic. State and county restrictions directed towards protecting our health have led to new methods of interacting with realtors, loan officers, and home sellers. Virtual tours and meetings abound, and open houses are limited and require additional precautions. One of the most surprising […]

June 26, 2020
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Four Signs You Should Refinance Your Mortgage
Four Signs You Should Refinance Your Mortgage

With mortgage rates still hovering around all-time lows, it might be a good time to consider refinancing your mortgage to snag a lower rate. Refinancing can reduce your monthly payment and total interest costs. Even if your home loan is as recent as last year, it still may be worth replacing. Here are 4 signs […]

April 22, 2020
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No Contact House Hunting
No Contact House Hunting

Amid rising Covid-19 cases and in consideration of the health and safety of agents and clients, Bright MLS has temporary loosened its restrictions on home listings which previously required properties be shown in person in order to stay on the market. If you are a future homebuyer or have been perusing listings you may have […]

April 01, 2020
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Which Renovations Have the Highest Impact on Your Home’s Value?
Which Renovations Have the Highest Impact on Your Home’s Value?

Remodeling your home is a wonderful way to make it your own when you first move in, or to update the space as your needs and styles change over time. Since home renovations can be pricey, balancing your budget and wish list can be tricky. Fortunately, there are lots of projects that can make you […]

January 02, 2020
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New Loan Limits!
New Loan Limits!

Loan limits for Fannie Mae and Freddie Mac increase to $510,400 in 2020, an increase from $484,350 in 2019! The Federal Housing Finance Agency has announced the Fannie Mae and Freddie Mac conforming loan limits for mortgages for 2020. Each year, the baseline conforming loan limit is adjusted accordingly with the change in the average […]

December 18, 2019
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FHA Revises Condominium Requirements
FHA Revises Condominium Requirements

After a long-awaited update, the FHA is finally issuing a change to condominium guidelines. It was announced Wednesday that spot approvals are back, and steps are being taken in order to loosen eligibility requirements. With these revised guidelines, FHA is expecting the update to qualify an additional 20,000-60,000 condo units per year. Changes that will […]

August 14, 2019
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Potential Federal Rate Cut
Potential Federal Rate Cut

From what you pay on the balance on your credit card to inflation, rates can have an influence on our everyday lives. When the economy dips, rates tend to dip as well. This encourages people to spend more which gives the economy a boost. Jerome Powell, chair of the Federal Reserve, makes the big decisions […]

July 11, 2019
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What Causes Home Prices to Fluctuate?
What Causes Home Prices to Fluctuate?

The median sales price of a house in the United States is currently between $188,900- $279,500. There is such a large price range because many different factors can play into a home’s sales price. If you are looking to buy or sell soon, keep the following factors in mind when determining costs. The price of […]

April 19, 2019
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FED Says No More Hikes
FED Says No More Hikes

Recently, the Federal Reserve decided to hold interest rates steady and indicated that no more hikes will be coming this year. This is very encouraging to homebuyers looking to purchase a new home or to refinance their current mortgage. Mortgage rates have been hovering around their lowest levels in more than a year, which in […]

April 09, 2019
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Fed’s Halt on Rising Rates
Fed’s Halt on Rising Rates

The week of January 27, 2019, the Federal Reserve had their 2-day rate-setting meeting and decided not to raise interest rates. Although the Fed does not directly affect long-term mortgage rates, this is a positive outcome for borrowers looking to purchase a new home or refinance to a lower fixed-rate. Mortgage interest rates have been […]

February 01, 2019
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