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Deciding On A Mortgage For Buying A Fixer Upper

October 21, 2021 by Michael Addison

It can be difficult to find a dream house, so many potential homeowners might be looking to save money by purchasing a home that they need to repair. Often referred to as a fixer-upper, this is a house that may require some extra work to restore to a livable condition. Not only is this a great opportunity to customize a home, but it could also be a valuable investment. At the same time, homeowners need to take out enough money to not only purchase the house but also cover the cost of repairs. How can potential homeowners decide what loan is best for a fixer-upper? There are a few options available.  Consider Taking Out An FHA 203(k) Mortgage One option is something called an FHA 203(k) … [Read more...]

Filed Under: Mortgage Tagged With: Fannie Mae, Mortgage, Renovations

What’s Ahead For Mortgage Rates This Week – November 30, 2015

November 30, 2015 by Michael Addison

Although last week's economic calendar was cut short by the Thanksgiving holiday, several housing-related reports were released. The FHFA reported on third quarter results for its Housing Market Index and the Commerce Department reported on new home sales for October. Freddie Mac released its weekly report on mortgage rates and data on new weekly jobless claims was also released. FHFA, Commerce Department report Gains for Home Prices, New Home Sales Home prices for mortgages associated with mortgages owned or backed by Fannie Mae and Freddie Mac increased 1.30 percent during the quarter ended September 30. This was the 17th consecutive seasonally adjusted quarterly increases for home prices … [Read more...]

Filed Under: Market Outlook Tagged With: Fannie Mae, Freddie Mac, Jobless Claims, Market Outlook

Case-Shiller: August Home Prices Accelerate

October 28, 2015 by Michael Addison

According to the Case-Shiller 20-City Home Price Index, U.S. home prices increased by 0.40 percent in August, which boosted year-over-year home price growth to 5.10 percent. Denver, Colorado continued to lead in home price gains with a monthly increase of 0.90 percent and a year-over-year gain of 10.70 percent. San Francisco, California also posted a year-over-year gain of 10.70 percent, but posted a month-to-month loss of -0.10 percent. Portland, Oregon posted a year-over-year gain of 9.40 percent with a month-to-month gain of 1.10 percent. Cities with the slowest growing home prices year-over-year included New York City with a reading of 1.80 percent; Chicago, Illinois and Washington D.C. … [Read more...]

Filed Under: Market Outlook Tagged With: Case Shiller, Fannie Mae, Freddie Mac, The Federal Housing Finance Agency

What’s Ahead For Mortgage Rates This Week – August 31, 2015

August 31, 2015 by Michael Addison

Last week's economic news included several reports related to housing. The Case-Shiller 20-City Home Price Index for June rose to 4.50 percent as compared to May's reading of 4.40 percent. Denver, Colorado was the only city to post double-digit year-over-year growth. FHFA also released its House Price Index for June. Home prices for properties associated with mortgages owned or backed by Fannie Mae and Freddie Mac rose at a year-over-year rate of 5.60 percent in June as compared to May's reading of 5.70 percent. New Home Sales, Pending Home Sales Rise in July Commerce Department data revealed that new home sales increased in July to a year-over-year reading of 507,000 against expectations of … [Read more...]

Filed Under: Market Outlook Tagged With: Case Shiller, Fannie Mae, FHFA, Freddie Mac

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