More Fun with Mortgage Rates, But Don’t Blame the Fed this Time
The interest rates on mortgage loans are about to be affected once again by the actions of the Federal government. Though this time, the culprit is not going to be the Federal Reserve. It will be the Federal Housing Finance Agency (or the FHFA) which is an agency that monitors the housing market and evaluates […]
The FHFA is instituting new changes to mortgage rates for Fannie/Freddie loans
Purchase Loans with 20% down and credit scores between 720 and 760: The rate will increase by .125% Purchase Loans with 15% down and credit scores between 720 and 760: The rate will increase by .25% Purchase Loans with credit scores under 660: The rate will decrease between .125% and .5% depending on the loan […]
Four Bold Housing Predictions for 2023
As housing ended 2022 with a whimper, after being on fire for several years, we are all wondering what 2023 will bring? Due to the lack of an accurate crystal ball, I am going to take a shot at a few things that I think may happen this year based upon 30+ years as a […]
Quick Update and Tips for Real Estate Agents.
As the real estate markets has been hot in most of the Metro NYC areas and super hot in some of them, everyone has been busy trying to get deals into contract and then to closing. In order to assist with this, I have a few updates and tips for real estate agents when listing […]
So you want to buy an NYC Co-Op?
How much do you know about NYC cooperative apartments? It is an entirely different type of ownership than either a house or a condominium apartment since it is NOT real property. Rather, it is personal property. It is an ownership interest (i.e. shares) in a cooperative corporation with a Proprietary Lease which permits occupancy of […]
Considering a move between NY and NJ? The contract and closing processes aren’t the same.
In the Concert for Sandy Relief, during his Hallelujah spoof, Adam Sandler sang about the “Hudson Brotherhood” with respect to the relationship between NY and NJ. However, despite the cordial relationship he sang about if you are considering a move between these two states, the practices relating to home sales do have some distinctions that […]
Refinances Are Getting More Expensive
As we are now in the heart of the Fall real estate season, there are some changes in the mortgage business that will affect the ease, cost and timing of a mortgage loan. Due to the refinance boom this year, all lenders are extremely busy and backed-up. As a result, the lending environment, which is […]
Is this Time Really Different? Real Estate and Mortgages in Metro NY
We are certainly living in “interesting times” as the old proverb states. As a result, we are being told that the mortgage and real estate markets are facing conditions now that we have never seen before. But, is that really true? And if it is, wasn’t it also true in the 1970s when “the Bronx […]