Is it a Good Time to Buy or Sell in Bend?

The answer is, yes.  Now is a good time to buy a home in Bend AND it is also a good time to sell a home in Bend. In April I wrote that it was a good time to sell your Bend, Oregon home.  Home prices were higher than they had been since November 2008. […]

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 […]

Should You Wait for Interest Rates to Fall Before Buying a House?

Over the last month and a half mortgage interest rates have risen 3/4 of a percentage point from 3.5% to 4.25%.  That is a big move over a short period of time prompting prospective home buyers to ask,  “Will interest rates continue to go up?”  And, “Should I buy a house now or wait for […]

Don’t Wait Too Long To Sell Your House

Knowing when to sell your current home and buy a better one is an inexact science at best.  There are so many variables that go into a decision like this that it can seem overwhelming.  Depending on when you bought your current home and how much you paid for it, now may be the right […]

20% Minimum Down Payment?

New mortgage lending rules announced two weeks ago by the Consumer Financial Protection Bureau (CFPB) have now gone before federal regulators for review.  Regulators say that the final version of the so-called Qualified Mortgage Rule should be complete in a few months and the rule would then take effect January 2014.  Mortgage lenders, bankers, real estate agents and […]

New Mortgage Lending Rules

The Consumer Financial Protection Bureau(CFPB) announced new mortgage lending rules this morning that will go into effect one year from now (January 2014).  These rules aim to protect borrowers from themselves and lenders from litigation. We saw in the housing boom that led up to the Great Recession borrowers who had a pulse were able […]

Mortgage Rates Predicted to Rise in 2013

  After reaching record lows in 2012 mortgage rates are expected to rise next year according to the Mortgage Bankers Association.  The good news is that rates are expected to rised slowly. After reviewing the MBA forecast for 2013, Market Watch reported,  “Rates on the 30-year fixed-rate mortgage are expected to average 3.8% in the […]

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. […]

Home Ownership Declining

I mentioned in a previous post that now is a great time to own a rental.  The demand for rental homes has been rising because so many people have lost their homes to foreclosure, lost their jobs, and/or are having a tough time qualifying for a mortgage because of the more strict underwriting standards.  On July 29th […]

Will the Debt Debate Affect Your Ability to Buy a Home?

Will Congress and the President be able to resolve the debate over the debt ceiling?  Probably.  If, for some reason, they are unable to agree on a plan and the United States is no longer able to pay it’s debt obligations there could be some bad news for home buyers in the form of higher […]