Mortgage giant Fannie Mae recently offered some predictions of what the housing market’s “normal” will look like in the next two years. In its report, “Transition to ‘Normal’?”, Fannie says while the housing market has shown improvement, uncertainty remains over both the economy and the real estate market. “Our forecast is that 2013 and 2014 will [...]
The Colonial Revival headquarters of Fannie Mae, designed by architect Leon Chatelain, Jr. in 1956, located at 3900 Wisconsin Avenue, N.W., in the Cathedral Heights neighborhood of Washington, D.C. (Photo credit: Wikipedia) Beginning June 15, the Federal Housing Finance Agency, which regulates [...]
I’ve noticed an increase in sales in Nevada County. A recent article which I’m republishing here indicates that home prices are increasing nationwide. “The Federal Housing Finance Agency reported that nationwide home prices posted their first gain in the first quarter since 2007. While the gain was [...]
The median price for an existing, single-family home in California rose 1.6 percent in March compared with the year before, marking the first year-over-year increase in 16 months, the CALIFORNIA ASSOCIATION OF REALTORS® reported Monday. The statewide median price of an existing, [...]
Fannie Mae and Freddie Mac recently extended their foreclosure forbearance programs to give short-term aid to unemployed homeowners, but housing counselors warn that these borrowers will need to look at longer-term solutions. Making sense of the story In a forbearance program, a lender agrees not to foreclose on a property and gives the borrower several [...]
The Obama administration announced broad outlines of the revised Home Affordable Refinance Program on Oct. 24. Fannie Mae and Freddie Mac issued guidance last week that filled in most of the details. HARP 2 greatly reduces or eliminates the risk-based fees Fannie and Freddie charge on many loans and virtually eliminates the chance that [...]
September 30, 2011 The current conforming loan limit, which determines the maximum size of a mortgage that the Federal Housing Administration (FHA), Fannie Mae, and Freddie Mac can buy or guarantee – is set to expire Friday, Sept. 30. Beginning Oct. 1, the conforming loan limit will decline to $625,500, from the current $729,750 [...]
With traditional investments delivering low returns, some are considering buying rental housing. However, potential investors should do their homework and avoid the following common mistakes. Making sense of the story Investing in real estate right now can be profitable, if everything goes as planned. Rents are increasing in many areas, and more properties may be [...]
Interest rates are near historic lows and home prices are affordable; however, many borrowers are finding they must have nearly pristine credit records and hefty down payments to get the best rates. Since 2009, credit standards have become much tighter. For borrowers, this emphasizes the importance of paying close attention to credit scores. New rules [...]
In anticipation of the expiration of current loan limits on Sept. 30, 2011, Bank of America has decided to stop accepting conventional and government applications for loan amounts that will exceed the permanent loan amounts. The deadline to submit loan applications was July 1. According to an email from Bank of America, conventional loans [...]
