Home price growth in the second quarter was stronger than previously anticipated, but economists at Fannie Mae believe it will likely moderate soon, closing 2024 and 2025 at annualized rates of 6.1% and 3%, respectively.  Even with more listings of homes available for sale compared to a year ago, existing-home sales fell in June . Fannie Mae economists said that increased supply and affordability constrained demand should result in moderating prices. Home prices were up 3% on a non-seasonally adjusted basis in the second quarter. Credit: Fannie Mae The company’s Economic and Strategic Rese ..read more

Why is it that when you pull your credit scores it is usually not the same as when you have one pulled for a mortgage? Credit Karma is a great source but the scores are usually not spot on the value is that when you make payments or make changes the scores will change and a great tool to monitor the scores. Also, when you look at Discover or what you have with your bank again not the same as when pulling for a mortgage. The great news is that you have an idea of where your scores are and can work with that moving forward. tune in and learn at https://www.ddamortgage.com/blog didier malag ..read more

Survey data released Wednesday by  F&G Annuities & Life Inc.  shows that economic realities and other considerations are driving Americans to either delay or come out of  retirement . F&G’s newly released  Retirement Reconsidered survey , which was conducted in May across a sample of 2,048 respondents ages 50 and older, found that 51% of this cohort are thinking of reentering the workforce or pushing back their retirement plans. Despite some recent economic headwinds in the form of  stock market growth  and  ebbing inflation , the majority of ..read more

Favorable economic trends are helping mortgage rates continue the downward trend they’ve been on for the past few months. That data comes on the heels of cooling inflation numbers. Last week, the Consumer Price Index (CPI) showed that prices for goods and services declined by 0.1% from May to June. They rose 3% on an annualized basis, the slowest rate of growth in more than three years. More good news for the housing and mortgage industries arrived Monday through remarks delivered by Federal Reserve Chair Jerome Powell. At an event in Washington, D.C., Powell indicated that policymakers w ..read more

The concepts of real estate portability and homestead are key aspects of property tax laws in some jurisdictions, notably in states like Florida. Here's an overview of each: Real Estate Portability Real estate portability, particularly in the context of Florida, refers to the ability of homeowners to transfer some or all of their accrued property tax benefits from one home to another within the state. This concept is part of Florida's Save Our Homes (SOH) benefit. Key Points: Save Our Homes Cap: Limits the annual increase in the assessed value of homestead property to 3% or the rate of in ..read more

Over a quarter (26%) of retired investors continue to pay off their mortgage, and precisely one-quarter of the cohort are continuing to pay down credit card debt, according to a new survey from the Nationwide Retirement Institute . The U.S. retirement population is getting older at a faster rate and are also confronted with inflation as an impediment to making ends meet. According to the survey, 22% of older investors are concerned about their ability to afford typical monthly bills. “The picture of life after retirement has changed for many people as economic stressors continue to weigh ..read more

As those in or near retirement continue to proclaim a preference for aging in place , there may be challenges for people who aren’t sure about how or when they should get started on making plans. A series of home healthcare, renovation and senior care experts offer tips on ways to begin in a column published by U.S. News & World Report . For reverse mortgage clients looking to use their loan proceeds to fund the goal of aging in place, home renovations and other preparations may be requested from the reverse mortgage loan officer due to the high-touch nature of reverse mortgage originati ..read more

I like to see what is available for you by getting your age and the approximate value of your home. Once we have that and go over what you may have available, we encourage you to get take the Gov't class which costs about $190. You have a 3rd party that goes over all the details of a Reverse Mortgage making sure you understand everything and it makes sense. When that is complete, I will meet with you at your home and go through all the documentation that is required to be signed I also ask that you have a family member there as well, and if no one is close by then a phone call to be with us ..read more

After closing on a mortgage, many new homeowners notice a significant increase in the amount of unsolicited mail, often referred to as "junk mail." Here's why this happens and what you can expect: Why You Receive More Junk Mail Public Records: When you close on a mortgage, the transaction becomes a matter of public record. Companies that sell products and services related to homeownership often purchase these public records to target new homeowners. Credit Inquiries: Mortgage lenders typically make a hard inquiry on your credit report when you apply for a mortgage. Credit reporting agencies ..read more

Mortgage rates have leveled off in the past week, according to data on HousingWire‘s Mortgage Rates Center . The average 30-year rate for conforming loans sat at 7.08% on Tuesday, unchanged from one week ago, while the 15-year rate rose 1 basis point to 6.63% during the week.  There has been considerable downward movement in rates over the past few months after the 30-year rate peaked at 7.58% in early May. This has been sparked by a recent decline in the 10-year Treasury yield, a narrowing of the spread between the 30-year rate and the 10-year yield, and consistency from the Federal Reserve ..read more