Welcome to the UtahHomeSellingTeam.com Blog

2018-07-06 07:14:58
Declining Mortgage Rates

What does it Mean for Homebuyers? Mortgage rates continued to slip over the past week, continuing a trend that has been seen over the past five weeks, according to Freddie Mac's latest Primary Mortgage.

In this video, points to the Freddie Mac Home One program that's launching on July 29. This is a 3 percent down conventional program for homebuyers regardless of income and geography, and though it is a bit more expensive than a similar program by Fannie Mae, it's still a 'better option than FHA.

During the week, the 30-year fixed-rate mortgage averaged 4.52 percent down from 4.55 percent last week. The 30-year fixed-rate mortgage, however, still remains above the 3.96 percent recorded during the same period a year ago. The 15-year fixed-rate mortgage ended the week at 3.99 percent, down from 4.04 percent last week. 

For homebuyers, the decline in rates was good news. 'Mortgage rates may have a little more room to decline over the very short term. 'Although the current economic expansion is in its tenth year, residential single-family real estate was initially slow to recover. Now, backed by the demographic tailwind provided by millennials reaching the peak age to buy their first home, the housing market should have some room to grow going forward.'

Top 3 Housing Trends

A new down payment program by Freddie Mac, the efforts of the Government Sponsored Enterprises (GSEs), especially Fannie Mae, on making financing for condos easier, and how virtual e-closing expanding across the country are some of the latest trends that are shaping the housing market this month.

He also gives an update on condos and the announcements by the GSEs as well as FHA on making the financing process for these properties easier and more accessible. Some of the changes include Fannie and Freddie's initiatives to treat detached condos as SFR as well as FHA's list of approved condos.

'Condos are going to become easier for all of us in the industry.

Ready to Sell or Buy now is the Time, We have a wealth of information and 18 years of experience to help you get started. Visit us at WWW.PrecisionReal-T.com or if you prefer a more personal touch Call us today at 801 809-9866. 

 

#RealEstateForSale #Homeownership #UtahRealEstate #MortgageRates

 
Blog Archive
2018-12-05 08:02:12
In 2019 Mortgage Payments to Jump 8.4%

2018-12-04 05:56:21
Financing for Manufactured Homes Coming

2018-12-03 07:16:21
Tale of Dual Markets

2018-12-01 08:01:47
Need to Sell Your Home this Winter?

2018-11-30 07:43:20
Buyers Pull Away From New-Home Market

2018-11-29 07:45:39
Mortgage Loan Limits to Rise in 2019

2018-11-28 07:42:53
Home Buyers and Sellers Should Watch in 2019

2018-11-27 07:10:44
Townhouse Construction is Expected to Increase

2018-11-26 07:55:12
Cities With Oldest, Youngest Homeowners

2018-11-24 08:24:08
Overall, December is the Best Time to Buy a Home

2018-11-23 07:29:39
Sluggish Home Sales came to an end in October

2018-11-23 06:43:53
Happy Thanksgiving

2018-11-20 09:19:16
How to Pet-Proof Your House for the Holiday Guests

2018-11-19 07:08:54
10 Great U.S. Ski Towns

2018-11-17 07:12:02
A Way to Keep Aging Parents Close to Home

2018-11-16 07:58:33
Huge Mistake to Take Your Home Off the Market for the Holidays

2018-11-15 07:55:35
Best Mortgage Advice I've Heard, Ever

2018-11-14 07:31:18
Tips to Help You Avoid a Rental Scam

2018-11-12 07:15:39
Buying a Home?

2018-11-10 06:03:39
Mortgage Rates Rise this Week

2018-11-09 07:36:01
Cheaper the Home

2018-11-08 05:56:20
Building Credit History From Scratch

2018-11-07 06:25:07
How to Get a Mortgage Without Freaking Out

2018-11-05 06:42:51
Home Prices Are Decelerating Not Falling

2018-11-03 08:09:28
First-time Homebuyers Transition from Renting

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.