Lower Conforming Loan Limits In Our Future

The Federal Housing Finance Agency (FHFA) is expected to announce lower loan limits this month for Fannie Mae and Freddie Mac mortgages.  Lowering the dividing line between what are known as conforming loans and jumbo loans  is an effort by the government to expand the role of private capital in the mortgage marketplace and reduce […]

Ending Fannie Mae and Freddie Mac: What it Could Mean

In a speech last week President Obama endorsed reducing the role that the United States government plays in the housing sector.  One way he proposed to do that is by closing the doors of Fannie Mae (Federal National Mortgage Association, FNMA) and Freddie Mac (Federal Home Loan Mortgage Corporation, FHLMC). “They’re not really government but […]

Strong Housing Market in Bend Oregon

The real estate market in Bend, Oregon continues to show strength as the Federal Housing Finance Agency( FHFA) releases first quarter 2013 numbers for their House Price Index (HPI).  Click here to view full size image. The House Price Index shows homes in the Bend Metropolitan Statistical Area (MSA) had price gains of 7.69 percent […]

Unemployment Forbearance Programs

If you are unemployed and behind on your mortgage or in danger of default there are two new programs just announced this month that may offer some hope in the form of reduced or suspended mortgage payments.  Fannie Mae and Freddie Mac have announced new Unemployment Forbearance Programs to assist borrowers who are experiencing financial […]

Fewer First-Time Buyers in 2011

Last year first-time home buyers accounted for 50 percent of all homes purchased.  In 2011 their share of the market has fallen to 37 percent which is close to the historical average of four out of every 10 buyers according to the National Association of Realtors.  Is the lack of a First-Time Home Buyer Tax Credit, which […]

Encouraging Numbers for Investors

Following up on a post last week about investors buying more homes.  Freddie Mac issued a press release October 17th that lends some numerical evidence as to why investors are buying more homes.  In that release they refer to Census Bureau numbers reporting a net increase of 1.4 million households that moved into rental housing over […]

Mortgage Rates Below 4%

   Bloomberg is reporting the average rate for a 30 year mortgage has dropped below 4%. That is the lowest rate ever recorded by Freddie Mac whose records date back to 1971. I can remember thinking back in the late 90’s and early 2000’s when I was a loan officer that anything below 6% was amazing. […]

Will New Rule Affect Our Ability to Buy Homes?

Maybe you have heard of the Dodd-Frank legislation signed into law last year.  More likely, you haven’t.  The law is aimed at overhauling financial regulations as a response to the subprime mortgage scandal and financial meltdown a few years ago.  Depending on who you talk to, the new regulatory rules being spawned by this law are fantastic […]