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Category Archives: Market News
The first quarter of 2017 illustrates another year of significant market strength. With particularly strong sales in March, the first quarter of 2017 outperformed the prior year first quarter by 7.8 percent (rising from 21,213 transactions to 22,859). Likewise, first … Continue reading
Residential real estate sales continue to indicate a year of market strength. Though year-over-year transactions remained static, the spike in price and accompanying decline in average days on the market point to high demand and restricted inventory. Year-over-year, the number … Continue reading
On January 31, the Consumer Financial Protection Bureau (CFPB) announced that it entered into consent orders with a mortgage lender, mortgage servicer and two real estate brokers for violations of the Real Estate Settlement Procedures Act (RESPA). As part of … Continue reading
The Federal Reserve Bank made a long-anticipated announcement on Wednesday to raise the key interest rate by a quarter point. The decision was unanimous. Though modest, the hike indicates growing confidence in the national economic outlook. The announcement suggested that … Continue reading
New down payment assistance is putting homeownership within reach of more consumers and boosting the buying power of others, sometimes by hundreds of thousands of dollars. Federal mortgage guarantor Freddie Mac is piloting a groundbreaking program that lets homebuyers get half of a 20 percent down payment covered by a … Continue reading
According to Realtor.com’s Active Home Shopper Report, the 2017 home buying season may see a large increase in first-time homebuyers. The report also indicates that there will be an increased demand for suburban homes. The bad news – buyers will … Continue reading
VHDA has a new mortgage loan product that may be a great option for first-time and repeat homebuyers. It’s called the VHDA Fannie Mae (FNMA) HFA Preferred with Reduced Mortgage Insurance (MI) and it comes with the following benefits: – … Continue reading