sections

Take That Guess and Double It // Today’s Mortgage News – Growella


Consumers aren't picking up what the markets are putting down This is Dan on your inside team at Growella

It's the Valentine's Day edition of Mortgage Minute-and-a-Half and I choo-choo-choose you US consumers continue to underestimate by how much home prices can rise Since a year ago, values are up about six percent overall nationwide

Some markets are up ten percent or more I'm looking at you, Seattle But, last year, as part of its monthly National Housing Survey, Fannie Mae went to the people and asked what they thought about the future of US home prices

A thousand people surveyed said: US values will rise, by about three percent That's half of what actually happened In the same survey, Fannie Mae asked about the future of rents and consumers said they'd rise by four percent, and they were wrong about that, too

Rents are only up about two percent since a year Consumers – I get it Without that Grey's Sports Almanac, it's tough to predict the future but you're getting got it all wrong right about now Don't trust your gut on these "Should I Buy or Should I Rent" decisions Talk to a local pro who knows your market and can help you see those blind spots

Get some stats and live your truth Okay mortgage rates Another few days of chaos Lenders continue to re-issue rate sheets several times per day which is making it hard for home buyers to comparison shop As of now, the more aggressive U

S lenders are showing conforming 30-year rates near 450 percent, FHA mortgage rates are near four-and-three-eighths, and rates are near four-and-a-quarter for USDA and loans backed by the V-to-the-izz-A That's the anthem Put your damn hands up

And remember that mortgage rates will vary based on lender, geography, and makeup Loans for condos and multi-units tend to come with higher rates; and your credit score can affect your mortgage rate, too Shop around Talk to two or more lenders But make sure to do it quick

Rates are changing too fast to wait and see what happens It's Valentine's Day, or as some people call it, "Singles Awareness Day" And, speaking of singles, it's an excellent time to be a single home buyer New loan programs aimed at helping first-time buyers and single-income households have helped reverse the slide in US

homeownership with huge numbers of people planning to buy a home in two-thousand eighteen One of the newer loan programs getting good action today is the HomeReady home loan, which allows for three percent down on most homes and the use of non-standard income on a mortgage app, like from side hustles or boarder rent A similar program is called Home Possible and both loans, available to buyers with credit scores down to six-twenty, give actual mortgage rate discounts for people with scores in the seven hundreds Find out more about HomeReady, HomePossible, and other low down payment loan using the link the description Growella does mortgage news three times weekly

Give us a like, subscribe to the show, and ask us your questions in the comment box below

Source: Youtube

Take That Guess and Double It // Today’s Mortgage News – Growella

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format
%d bloggers like this: