Month: November 2022

New 2023 Conforming Mortgage Loan Limits Released

By Douglas Katz – 11/29/2022 The new official loan limits for classification of conforming loans is out and it is very generous.  The Federal Housing Finance Agency (FHFA) provided a great resource to see what the limits are throughout the nation as some areas have higher limits than others. Some considerations that this brings light. …

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Mortgage Market Update – Rates Dip on Optimism About Inflation

By Douglas Katz – 11/18/2022 Per Freddie Mac: Mortgage rates tumbled this week due to incoming data that suggests inflation may have peaked. While the decline in mortgage rates is welcome news, there is still a long road ahead for the housing market. Inflation remains elevated, the Federal Reserve is likely to keep interest rates …

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Lending Standards are Tightening – What Can You Do?

By Douglas Katz – 11/16/2022 Mortgage loan approval guidelines in the lending world are ever changing.  Market conditions and risk tolerance of the lenders create an environment where home loan programs are at best tweaked and at worst radically changed to match competitiveness, the market and the lenders appetite.  The hard part for lenders and …

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Mortgage Market Update – Average Mortgage Rates Above 7% With An End Of Week Improvement

By Douglas Katz – 11/10/2022 From Freddie Mac: As the housing market adjusts to rapidly tightening monetary policy, mortgage rates again surpassed seven percent. The housing market is the most interest-rate sensitive segment of the economy, and the impact rates have on homebuyers continues to evolve. Home sales have declined significantly and, as we approach …

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Mortgage Market Update – Rates Tick Down But Housing Unaffected

By Douglas Katz – 11/04/2022 From Freddie Mac Mortgage rates continue to hover around seven percent, as the dynamics of a once-hot housing market have faded considerably. Unsure buyers navigating an unpredictable landscape keeps demand declining while other potential buyers remain sidelined from an affordability standpoint. Yesterday’s interest rate hike by the Federal Reserve will …

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