No this is not a joke, I had to read the recent Fannie Mae press release multiple times to actually believe what I was reading. Who would have ever thought that someone with a high credit score above 740 would…
As a private lender, my call volume and closings the first quarter have been off the charts as borrowers fall out of more conventional products. This trend is now playing out with the Mortgage Credit Availability Index showing substantial tightening…
Beginning in March of 2023, Freddie Mac, the largest buyer of mortgages is drastically changing the seasoning requirements for any loans it purchases which basically means any new conventional conforming loan will have to follow the new rules. What big…
I rarely say that Covid caused radical changes in behavior but the commercial property sector is bucking this trend. This is not because of return to office or lack thereof, but leverage and the central bank. In every cycle in…
Data from AirDNA, a short-term rental analytics firm, show as of October 2022, the number of future nights booked—a real-time indicator of the health of the short-term rental industry—was up 15.8% year-over-year. At the same time, anyone in the short-term…
The federal government is about to back mortgages over one million for the first time. The maximum size of home-mortgage loans eligible for backing by Fannie Mae and Freddie Mac is expected to jump sharply in 2023, a reflection of…
Home values slipped for the second consecutive month as mortgage costs continue to sideline buyers. From June through August, prices usually decline about 2%, but this year they have fallen about 6%. At the same time, mortgage rates hit…
The federal reserve did an analysis of what has led to the surge in housing prices and has a conclusive answer; the driver of high prices is not that we don’t have enough houses as the media has been claiming.…
What a week it has been in the economy. The federal reserve is still struggling to contain inflation and as a result increased the fed funds rate .75%. After the announcement stocks roared back in a huge “relief” rally and…
There has been an unexpectedly sharp downturn in demand to truck everything from food to furniture since the beginning of March and rates in the overheated segment that deals in on-demand trucking jobs - known as the spot market -…