Personal Finance

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 – 7 is Far From Lucky as Rates Hit New Highs

By Douglas Katz – 10/27/2022 From Freddie Mac: The 30-year fixed-rate mortgage broke seven percent for the first time since April 2002, leading to greater stagnation in the housing market. As inflation endures, consumers are seeing higher costs at every turn, causing further declines in consumer confidence this month. In fact, many potential homebuyers are …

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Mortgage Market Update – Rates Continue Their Climb

By Douglas Katz From Freddie Mac: The uncertainty and volatility in financial markets is heavily impacting mortgage rates. Our survey indicates that the range of weekly rate quotes for the 30-year fixed-rate mortgage has more than doubled over the last year. This means that for the typical mortgage amount, a borrower who locked-in at the …

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Mortgage Market Update – Rates up 1/4 point. What now?

By Doug Katz – 9/23/2022 From Freddie Mac The housing market continues to face headwinds as mortgage rates increase again this week, following the 10-year Treasury yield’s jump to its highest level since 2011. Impacted by higher rates, house prices are softening, and home sales have decreased. However, the number of homes for sale remains …

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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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Have a Personal Budget Defined BEFORE You Buy a Home!

By Doug Katz – 06/20/2022 It is no secret that the housing and mortgage markets are changing and not for the better.  As expected, there has been a deluge of articles of new programs and other ways to juice your purchasing power to still be able to buy a home.  I am deliberately leaving out …

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