According to the latest report from Fannie Mae, a pullback in economic policy uncertainty regarding fiscal and monetary policy issues is forecasted to lay the foundation for improved private sector activity and accelerated growth in 2014. For all of 2014, economic growth is expected to rise 2.9% from an estimated 2.6% in 2013. Read the…
Some housing experts are trumpeting changes that allow foreclosure sufferers to buy back into the American Dream sooner than they probably imagined, calling 2014 the year of the “boomerang buyer.” Revisions made over the summer to Federal Housing Administration guidelines and technical updates in November to Fannie Mae loan approval systems have opened the door…
More jobs and easier loan terms will boost demand for new mortgages in the second half of this year as homebuyers shrug off higher interest rates, according to a Fannie Mae forecast. Lending for mortgages to purchase homes will increase 21 percent for the final six months of 2013 to $341 billion from $282 billion…
President Obama has unveiled his second-term housing agenda, which includes initiatives to support current homeowners, families hoping to buy their first home and the one-third of American households that rent. The plan has six basic pillars: Help more homeowners refinance to today’s low interest rates; Clarify and streamline regulations to help more creditworthy homebuyers get…
Here are five ways that mortgage experts say the market is becoming more flexible: 1. Some lenders are easing payment and credit score requirements. Having a modest down payment or a lower than stellar credit score won’t necessarily keep you from buying a home. 2. Piggyback loans are popping up. The term describes two mortgages…
While rates have increased in the past month, it has caused a number of fence sitters to jump into the mortgage market. While many are prospective homebuyers, some looking to refinance are also exploring their options. First, jumping into the responsibility of home buying should be based on the merits of homeownership not on trying…
Mortgage experts recently met with White House officials to discuss housing and mortgage issues, resurfacing the possible idea of establishing HARP 3.0. The push for more HARP would allow private-label loans to be refinanced through the GSEs, Compass Point said. Mortgage experts recently met with White House officials to discuss housing and mortgage issues, resurfacing…