CNBC: “Homebuyers are canceling deals at the highest rate since the start of the pandemic.”

By Douglas Katz – 07/11/2022   CNBC recently reported that deal cancellations have risen to 15%.  This is applicable to new and existing homes and, while not a harbinger of doom, it does reflect a sea change for the market.  Killing deals was unheard of just a few months ago when homebuyers were willing to …

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Mortgage Rate Update – Rates Retreat Giving Hope to Prospective Buyers

By Douglas Katz – 07/08/2022 Per Freddie Mac: Over the last two weeks, the 30-year fixed-rate mortgage dropped by half a percent, as concerns about a potential recession continue to rise. While the drop provides minor relief to buyers, the housing market will continue to normalize if home price growth materially slows due to the …

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Fed Rate Bump Likely in July – How Can You Plan?

By Douglas Katz – 06/07/2022 Inflation is still high at 8.6%. The Central Bank is likely to raise rates to combat inflation. While this may weaken the economy, The Federal Reserve is still prioritizing taming inflation as key. The Federal Reserve released their June meeting minutes yesterday and based on some specific comments, the market …

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Are 40-Year Options on the Horizon and Do They Make Sense?

By Douglas Katz – 07/06/2022 Last month, Housingwire reported that FHA was considering adding the 40-year fixed rate mortgage to their modification options.  While not yet a reality, this does bring up the question of whether we will see this product as an option beyond modifications for FHA as well as part of the conventional …

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Differing Predictions for Housing Prices Forecast Between 9.7% and -0.5% Change by May 2023

  By Douglas Katz – 07/05/2022 All current predictions are down from previous years. Predictions are for single digit or negative changes in the coming year. All forecasts show capitulation that we are past the inflection point and correcting. Mortgage rates had large impact on the slow down and correction. Fortune reported yesterday on the …

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Weekly Mortgage Rate Update – Rates Stabilize for Now

By Douglas Katz – 6/30/2022 Per Freddie Mac: The rapid rise in mortgage rates has finally paused, largely due to the countervailing forces of high inflation and the increasing possibility of an economic recession. This pause in rate activity should help the housing market rebalance from the breakneck growth of a seller’s market to a …

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Deconstructing New Construction – The Caveats for Buyers

By Douglas Katz – 06/30/2022 HIGHLIGHTS New construction has many important considerations that add cost and stress to a deal. Buyers have very little control and bear most of the risk for higher costs, higher rates and an extended timeline. Planning and understanding if the important variables will assist you in having a good transaction …

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Ownership, Title and Vesting – More Important Than You Might Think

By Douglas Katz – 06/28/2022 HIGHLIGHTS Title vesting defines ownership and who has claim to the property. Proper vesting is essential to ensuring that ownership passes the way you want after your passing. All vesting types have benefits and drawbacks that you need to consider especially during times of change in your situation like marriage …

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