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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… Read More

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… Read More

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… Read More

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… Read More

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… Read More

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… Read More

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… Read More

Maximum Conforming Loan Limits Announced for 2019

The Federal Housing Finance Agency (FHFA) announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2019. Starting January 1, 2019, in most of the U.S., the maximum conforming loan limit for one-unit properties will be $484,350, an increase from $453,100 in 2018. FHFA’s house price index… Read More

What Causes Rates to Fluctuate?

An interest rate is a percentage of the amount of a loan paid for the use of money for a specified time. More simply put, it is the rate of interest charged on your mortgage loan. Interest rates are volatile, meaning they can fluctuate sharply and regularly. There are many elements that affect your mortgage… Read More

How to Win in a Competitive Market

It’s a seller’s market in the mortgage world these days. That means there are more buyers looking to purchase homes than there are homes for sale, giving way to some strong competition. Properties may be going off of the market more quickly since there is higher interest, and they may be selling for more than… Read More