Mortgage and Real Estate News

Gustan Cho Associates and Subsidiary Sites:

Gustan Cho Associates Mortgage Group (NMLS 2315275) is a dba of NEXA Mortgage (NMLS 1660690). Licensed in 48 states (MA & NY pending), including Washington, DC, Puerto Rico, The U.S. Virgin Islands, and Guam, NEXA Mortgage ranks as one of the largest, if not the largest, in terms of licensed loan officers and volume, mortgage broker, and correspondent lenders in the Nation.

Scope of Work and Mission

Gustan Cho Associates assists borrowers with business, commercial, and residential loans. Not only does Gustan Cho Associates offer competitive rates, but over 80% of our borrowers are folks who could not qualify at other mortgage companies due to overlay or the lenders not offering the mortgage loan program for the borrower. This fact-checked statement confirms that the competition has nothing to say. With a lending network of 280 wholesale lenders (not including commercial lending programs) licensed in 48 plus states, with very competitive rates, it will be difficult, if not impossible, for the competition to come close.

A One-Stop, All-in-One Mortgage Superstore

Consumers often ask mortgage companies what they specialize in. This is a great question. The valid answer differs for each mortgage lender. There are mortgage lenders that specialize only in non-QM loans. Other lenders do not touch government and conventional loans. Credit unions often only offer conventional loans and not government-backed loans. Most mortgage companies do not offer any business or commercial loans. Gustan Cho Associates has a national reputation for being an all-in-one, one-stop national mortgage superstore.

Below is a comprehensive description of the company:

Core Services and Loan Products Traditional Mortgage Products

Conventional Loans:

• Conventional loans are offered to people with good credit ratings as they fall under prime loans.
• Fannie Mae and Freddie Mac are included in this class.

FHA Loans

• FHA Loans help mitigate poor credit scores, such as those of self-employed clients with a high debt-to-income ratio.

VA Loans:

• These home buyers are veterans or current service members and don’t have to make a down payment.

USDA Loans:

• The requirements for these loans are comparable to those for VA and FHA loans, except no down payment is required to qualify.
• However, they are restricted from purchasing a designated home in rural land.

Non-QM Loans

Bank Statement Loans:

• Bank statement loans are for self-employed individuals with sufficient cash flow to maintain normal income verification requirements but who do not reach them.

DSCR (Debt-Service Coverage Ratio) Loans:

• DSCR loans are aimed at real estate investors who want to include rental income in the qualification requirements.

No-Doc Loans:

• This type of loan is granted without requiring borrowers to provide proof of income, so the income level does not matter.
• It was created for those with high liquidity or who are self-employed.

ITIN Loans

• ITIN loans allow people to purchase a house without legal permission from U.S. residents. This class includes illegal immigrants.

Specialty Loan Products

Fix-and-Flip Loans

• Short-term loans are used by those who purchase property that must be renovated and sold.

Construction Loan

A construction loan seeks to finance the sequential construction of a building for builders and homeowners.

• The same doing on its level may again be within a construction context, taking a scope and developing a new building.

Construction to Commercial Loans

• Among more common, CCC or construction to-commercial is its divergence from the more common form of building construction on which many construction firms focus heavily in today’s market.
• Lenders design a construction loan for homeowners wishing to build a home on a piece of land, directing funds exclusively to finance construction projects.

Commercial Loan

• With a commercial loan, the financing covers the purchases or refinancing of multifamily units, mixed commercial, real estate development, and a few other commercial projects.

Hard Money Loans:

• For this profile of borrowers desperate for capital recall, these loans make the transition between lenders despairing and lenders friendly owing to extreme urgency.

Key Features and Differentiators:

From the credit history aftermath of banks shunning these borrowers with low scores, GCA Mortgage Group differentiates itself with various features. It has gone as far as having borrowers with surrounding credit scores of less than five hundred or those wishing to graduate from their debts that were toilets and earlier bankrupt, and lenders aid them in earning months ago.

Private lenders commonly impose and/or usually expect their borrowers to have as overlays any restrictions they wish to impose on them. However, they do not infringe on the agency rules, which Fannie Mae, Freddie Mac, FHA, VA, and USDA tend to comply with.

Gustan Cho Associates is a prominent national mortgage company with a team of government experts, conforming, nonqualified, and nonqualified mortgages. It currently ranks best in the industry due to its extensive range of self-employed businesses and mortgage solutions for investors and borrowers.

GCA Mortgage Group is in various parts of the country, with licenses in multiple states.

Ortal only provides unparalleled service to its customers. At the same time, GCA has gained recognition in the market for its fast and clear solutions.

Social Media

Website:

• Gustan Cho Associate claims it is the best platform for applying for a loan.
• It is important for borrowers because it has many informative resources, such as qualification requirements, loan plans, and blogging content about mortgages.

GCA Forums:

• A GCA Forum aims to bring customers and professionals together to discuss their mortgage needs and other experiences in the sector.

Educational Content:

• Blogs, videos, and guides on fixing credit, declaring bankruptcy, non-QM loans, and purchasing a home enhance search optimization.

Leadership

• The firm is operated by professionals who possess relevant industry expertise and many years of practice:

Gustan Cho:

• Gustan, a veteran mortgage expert, is the founder and chief motivator of the company.
• He has a vast wealth of experience and particularly aims to assist unbanked borrowers, which, in combination with GCA Mortgage Group’s reputation, has been the primary driver of innovation.

Target Audience

Low Down Payment First-Time Homebuyers:

In addition to providing almost no down payments, we guide first-time homebuyers through the entire home-buying process in depth.

Credit-Challenged Borrowers

People who already owe loans but have experienced some bad credit history or faced some bad financial events are the kind of audience GCA targets.

Self-Employed Applicants

Programs that don’t require extensive documents and use a few techniques like self-reporting are acceptable.

Property Investors: Targeting the investment market with various products, including DSCR and fix-and-flip loans.Investors in Commercial Real Estate: Multifamily, mixed-use, and commercial properties are collateral-based loans.

Customer Testimonials

The borrowers of GCA Mortgage Group gave the following compliments:

• Responsiveness. The pre-approval process takes less time, and consultations can be conducted on the same day.
• Expertise. I have good knowledge of niche lending programs and other related underwriting programs.
• Advocacy. Effects of Trying to Get More Approvals in Difficult Circumstances.

Vision and Mission

The company’s vision is to increase the volume of the target market for home ownership. Its purpose is to facilitate the broad spectrum of potential borrowers by providing various inventive, flexible, and simple mortgage products while enhancing its citizens’ economic literacy and quality of life.

You can contact them through their team or websites to browse through different loan options and get more personalized assistance.

Comprehensive Daily and Weekend Mortgage and Real Estate News Updated from January 3rd through Monday, January 6th, 2025:

January 6, 2025, saw certain patterns and predictions in the mortgage and real estate markets, as stated below:

January 3, 2025

Mortgage Rates Trend:

Mortgage rates slightly increased, with the average 30-year fixed-rate mortgage increasing to 6.75%. According to analysts, this is because of stronger-than-expected job growth.

Housing Market Update:

Despite higher interest rates, the National Association of Realtors reported a modest increase in home sales in December, suggesting resilience in the housing market.

January 4, 2025

Fed Meeting Insights:

Following the latest Federal Reserve meeting, officials indicated they may consider pausing further interest rate hikes. Consequently, mortgage rates stabilized for some time after this announcement.

Following the latest Federal Reserve meeting, officials indicated they may consider pausing further interest rate hikes. As a result, mortgage rates stabilized for a period after this announcement.

Reports indicate that institutional investors are increasingly targeting single-family rental properties due to a lack of affordable homes for potential buyers.

January 5th 2025

Real Estate Investment Trends:

Reports show that institutional investors are increasingly targeting single-family rental properties as there is a lack of affordable homes for potential buyers.

Homebuilder Confidence:

The Home Builders Association reported a slight increase in builder confidence, with new construction expected to begin soon due to a backlog of permits.

Foreclosure Rates

Data revealed that foreclosure rates have declined compared to the previous year, suggesting that homeowners are managing their mortgages better despite economic pressures.

January 6, 2025

Mortgage rates have slightly increased, with the average 30-year fixed-rate mortgage rising to 6.75%. Analysts attribute this rise to stronger-than-expected job growth.

Despite the higher interest rates, the National Association of Realtors reported a modest increase in home sales for December, suggesting resilience in the housing market.

**Weekend Market Insights:**

Analysts noted that attendance at open houses was robust over the weekend, compared to previous weekends, indicating that home buyers are adapting to existing mortgage rates.

**Regulatory Changes:**

New rules proposed for a more transparent mortgage lending process could significantly impact both lenders and borrowers.

Summary

Although interest rates are rising, the mortgage and real estate markets are showing resilience. Various indicators suggest steady activity and interest from both home buyers and investors. Key trends include slowly increasing mortgage rates, a slight uptick in home sales, and stable new construction anticipated for this year. Additionally, upcoming regulatory changes may reshape the landscape in the months ahead.

For current updates, it is recommended to consult reliable financial news sources and regular real estate market reports.025

Weekend Market Insights

Analysts noted that open house attendance was robust during the weekend compared to previous weekends, meaning home buyers were adjusting themselves to the existing mortgage rates.

Regulatory Changes

New rules proposed for a more transparent mortgage lending process would greatly impact lenders and borrowers.

Summary

Even though interest rates were rising in the economy, Mortgage and Real estate markets showed some resilience, with different indicators pointing to steady activities and interests from both home buyers and investors. Main trends include slowly increasing mortgage rates, house sales picking up slightly, and new construction expected to remain stable this year. Additionally, regulatory changes could shape the landscape in the coming months.

For current updates, reliable financial news sources and regular real estate market reports are recommended.

• This discussion was modified 3 weeks, 2 days ago by  Gustan Cho.
• This discussion was modified 3 weeks, 2 days ago by  Gustan Cho.

Many business analysts and experts are forecasting mortgage rates will drop under 4% in 2024.This forecast is extremely aggressive and a lot of these economists are putting their names behind their mortgage rates forecast. Here is an article about a mortgage and housing economist aggressive statement on the conviction he has on his under 3% mortgage rate forecast for 2024.

https://www.businessinsider.com/fed-rate-cut-outlook-economy-recession-forecast-2024-inflation-ubs-2023-12

businessinsider.com

The Fed will lower interest rates under 3% as a mild recession leads to a 'soggy 2024,' UBS chief economist says

"We think we're going to end up with a relatively soggy 2024 when we look back at the end of next year."

The mortgage and real estate markets have fluctuated due to inflation, job statistics, foreclosure, and home prices, all notable developments considering the rising mortgage rates. Here’s the recent trend. The article will also provide information on the ever-changing but somehow related business economics.

Mortgage Rates

30-Year Fixed-Rate Mortgages:

• According to the most current statistics.
• The average 30-year fixed-rate mortgage increased to 6.85%, which has been the highest recorded since mid-July.
• The percentage was 6.72% last week, compared to 6.61% recorded a year ago.
• This is a clear sign of raised bond yields banks use to sell home loans.

15-Year Fixed-Rate Mortgages:

• Closed at 6%, up from 5.92% recorded the previous week.

Employment and Job Losses

In considering the labor force, indicators highlight its potential decay due to students’ inability to find summer jobs, resulting in aggravated unemployment reaching 6.4%.

Inflation

The growing economic debate on whether federal banks should pay particular regard to inflation is apparent, especially considering the recent US statistics indicating inflation is growing to 3.2% annually.

It is projected to keep increasing, impacting mortgage rates and the overall economic spectrum.

Foreclosure Rates

There are no seasonal statistics or trends regarding foreclosures at present. However, the growing interest and inflationary rates can complementarily lead to further foreclosure activity, as people who need to deal with further economic stresses alongside rising home loan interest rates may find themselves unable to cope and eventually file for bankruptcy.

Home Prices

Despite the hike in mortgage rates, home prices remained steady. Due to high demand and low housing inventory, the price of homes in the United States is predicted to increase by 5% this year, higher than the previous prediction of 1.9%.

In the UK, it is estimated that house prices will increase by 1.9%, bringing the average value of a house to £267,500. The increase in market activity is expected to impact the housing market positively.

Factors Influencing the Market

Bond Yields Increased bond yields are the reason mortgage rates are increasing. This affects the low number of homebuyers.

Federal Reserve Policies Other policies cut rates to improve affordability, but in contrast, the rate cuts resulted in increased mortgage rates. This is because the 10-year Treasury bonds have increased yields, which wreaked havoc on mortgage rates.

Housing Inventory

Even with the increased mortgage rates, there is a limited number of houses, which keeps the prices of the homes steady. Owners with low mortgage rates are reluctant to sell their houses, contributing to the low supply.

Implications for Homebuyers and Homeowners

Affordability Challenges Due to the increased price of homes and mortgage rates, the supply of houses has greatly diminished, which has resulted in many unfavorable implications, such as a decrease in mortgage applications.

Increased Costs

The property tax rate has historically been low, around 32% in recent years. Still, as of 2014, mortgage rates and insurance expenses have virtually skyrocketed.

The increased mortgage rates, inflation, and economic instability make it almost impossible for potential buyers and homeowners to afford their properties. With the market as fuzzy as it is, it’s worth getting advice from an expert and staying updated with the latest economic information.

Below is a concise overview of the mortgage, real estate, and business updates for the week of December 23 to December 28, 2024:

Mortgage Rates and Housing Market Trends

Mortgage Rates Continue to Rise:

• For the second time in a row, mortgage rates have surged since July and now stand at 6.85 percent.
• This is an increase from 6.72 percent, which stood last week.
• The rate for a 30-year fixed mortgage has also hiked again, breaking 6.61 percent this time last year.
• This also means it will keep increasing, as we saw it hit 6.89 percent in mid-July.
• In addition, 15-year fixed mortgages surged, with rates reported at a whopping 5.92 percent compared to 5.84 percent.
• As we enter the new year, the economy is expected to boost purchase rates to assist with the surging problem of undersupplied homes in the market.

Homeowners Costs Are Increasing

A rising trend indicates that homeowners are now spending more on property taxes and home insurance than they are reportedly spending on mortgages. The average single-family mortgage is set at 32 percent for property taxes and insurance, which breaks records as it’s the highest rate since 2014. The driving factor for this trend is the natural disasters that caused home values to skyrocket.

The Pirates of the Caribbean

Or, as I like to call them, the New York upstate, Omaha, New Orleans, and Miami Pirates that own homes. They are the worst, and so are mortgage holders because they pay more than half of their monthly payments on taxes and insurance. The average rate of this has grown to 7 percent, making owning a single-family single-family home a life of misery. And speaking of home buying in general, mortgage payments are high, no thanks to the recent rate cuts. In both 2014 and now, buying a home is a huge hassle for the rich and the poor, and I can assure you that this is only the start of our problems.

Advancements in the Real Every Field

Let’s start with Rocket Homes

• The CFPB also sued Rocket Homes for its alleged actions, in which the brokers were asked to purchase mortgage holder services from their company.
• The back-and-forth in this lawsuit goes deep, but to keep it short, the JMG Holding firm’s Jason Mitchell also comes into play within these allegations.
• Rocket Homes argues against the CFPB’s stance, enabling them to go at ease again.

Sadly, the CU building has also come under heat to be able sexual misconduct scandals with the inclusion of Master Batters: the brokers, Tal and Oren, go on to expose how eXp is real.

The recent allegations raised questions of integrity within a predominantly female industry sorely constructed by male figures. Detractors note the industry’s rampant culture, where safety precautions and a proper supervision hierarchy that controls malfeasance are non-existent. Pioneers such as the National Association of Realtors have tried devising policies that will help foster a balanced, safe, and upbuilding environment.

The sale of loans in multifamily commercial real estate by HomeStreet Bank

In a transaction that involved Bank of America, HomeStreet Bank went on to sell $990 million in unpaid principal balance of loans for almost $906 million. This translates to a 92% value of the loans. The only reason why this discount was given was due to the current interest rate environment and the lower yield of the loans. The deal is projected to aid HomeStreet in recovering from the multiyear loss and assuage investors worried about the previous halted merger with First Sun Capital Bancorp. Funds raised from the transaction will primarily be focused on addressing debt and looking for cheaper capital. The final date for the completion of the transaction is December 31. On the other hand, Home Street is expected to continue servicing the loans.

Forecast of Commercial Real Estate

The commercial real estate sector has been conditioned by various challenges, including the constant rise in interest rates, constantly decreasing supply, and high production expenses.

The hybrid and remote work trend has severely affected the office space market. And even now, despite a rather remarkable cutback from the Federal Reserve, long-term rates are elevated, making sales and refinancing more complicated than necessary. A massive 570 billion dollars worth of commercial real estate loans are due by 2025. These loans will most likely experience a cash flow deficit, while some may even face massive refinancing difficulties. The assumed Trump administration portrays promising tax structures and lower regulations as policies that further bolster the population’s confidence. The online shopping boom brought a sharp increase in demand for industrial supply. However, this has recently stagnated and is anticipated to bounce back when the newly available supply is subdued and demand rises. The growth of e-commerce stimulates future demand for industrial space. 2025 will likely be the year when this wheel starts rolling again. But we still have to navigate slow economic growth and tough refinancing circumstances.

Expected Housing Market Scenario

Expected changes in the 2025 housing market:

Towards 2025, hope is presented to future real estate hopefuls who have navigated on that tough terrain the last couple of years, as most are expected to find the housing market easier to deal with. There are predictions that mortgage rates will increase slightly over the 6% threshold, which will cause more listings to become available and slow the increase in the value of these listings. As the rate of interest declines, it is expected that more US citizens will be willing to relocate, aiding the housing inventory.

The current housing supply is likely to witness an uptrend growth of about 11.7%, which would dampen the competition with a more controlled price increase. However, they expect a remarkable rate decrease since they are most likely to follow the return on the 10-year treasuries, which may stay high if inflation continues. Overall, during 2025, there are high chances of the rates being more favorable for the buyers due to a high supply, alongside the mortgage rates being slightly lower than they used to be.

In the mortgage circuit, there have been drastic changes along with fluctuations in the real estate market, all affected by the economic policies that have increased bond yields. As for the current state of the economy, it can be summarized as follows:

Rates on Mortgages

30-Year Fixed-Rate Mortgages:

• Average rates have soared to 6.85%.
• This is the highest increase since July, when they climbed from 6.72% to 6.85%, compared to last week’s and the six-point sixty-one percent a year ago.

15-Year Fixed-Rate Mortgages:

• Instead of 5.92% in the previous week, the rates have spiked to 6.00%.

Housing Market Information

House Prices:

• High price rates combined with even higher mortgage rates have made it nearly impossible for almost all potential buyers to stimulate any chances of homeownership, further supporting the continuing downturn of the housing market.

Inventory Trials:

• Taking November into account, the last reported figure regarding the total number of houses available for sale was 1.37 million, showing a 19.1% increase year after year.

The Following influences the Rate Increase On Mortgages

• Generally speaking, mortgage rates and bond yields display a very tight relationship.
• An increase in bond yields leads to many factors, including an increase in mortgage rates.

Expectations Regarding Inflation

As we all know, inflation is bad news for every industry. It pushes investors to seek larger returns on long-term investments, which increases bond rates.

Policies By The Federal Reserve Bank

Although the Reserve recently cut some rates to facilitate purchasing, mortgage rates have paradoxically skyrocketed instead.

These factors account for the divergence we have seen, and it seems justified in view of rising yields on 10-year Treasury Bonds, which are considered a significant determinant of mortgage rates.

Government Debt Levels

Increasing fiscal deficits enhance the volume of government bonds, causing yields to increase to attract buyers.

Economic Policies

Policy shifts, such as instituting tariffs and tax reductions, could increase economic activity, raise inflation, add to government borrowing, and consequently raise mortgage rates.

Aspects That Influence Homebuyers and the Real Estate Economic Activity & Development:

Challenges on Affordability: Rising mortgage rates and current home prices have generally limited the number of prospective buyers, and mortgage applications have been sluggish.

Market Activity:

• Interest rates have suppressed buyer interest. A slight reduction in interest rates is likely to stimulate some business growth.
• Still, the business environment will remain restrained due to the relatively high prices and low volume of housing available.

The movement in 10-year Treasury yields and mortgage bonds highlights the intricate web of factors that characterize the current economy. These indicators and trends are critical for home buyers or borrowers intending to refinance their homes. Therefore, such transactions should be undertaken only after due consultation with advisers.

Mortgage and Real Estate Update for Wednesday, December 25th, 2024Mortgage Rates Remain Constant As The Holidays Are Upon Us.

30-Year Fixed Rate Mortgage:

• Average fixed mortgage rate continues to remain at 6.75 %.
• Analysts don’t anticipate any compelling changes this week.

15-Year Fixed Rate Mortgage:

• The average rate on the 15-year is 6.15, which is also a good option for homeowners willing to refinance.

ARM:

• Similar to the 5/1 ARM, rates have remained stable at 6.50 percent while buyers consider the risk of a rate change.

Analysis:

• Towards the end of the year, we usually see a drop in the amount of mortgage applications as people are less likely to look to buy a new home.
• However lenders do suspect that they may see a increase in the early months of 2025 as rates begin to normalise.

Housing Still In Demand During The Winter Season

Lack of Supply:

• The active listing has dropped by 18% year on year which further lowers the options for the buyers in many locations.

Prices:

• Price of homes rose by 4.1% in November 2024 when compared with the last year during the same period.
• This is indicitive of demand in high growth areas.

Top Buy Markets:

• Austin and Orlando are hot places to buy homes while less accessibly prices areas such as Wisconsin and Pittsburgh are more stable.

Trends in the Rental Market

Rents Rates Slowing Down:

• The rental rates for 2024 have seen a rise by 2.3 percent lower than the 5.7 percent rent witnessed in the year 2023.
• This stagnation is due to an increased availability of multi-family houses.

Continued Movement to Suburbs:

• Renters are shifting from apartments to suburban areas due to affordability issues, especially in areas just outside big cities such as Phoenix and Denver.

Increased Costs Affect Builder Confidence

Commencement of New Homes:

• In comparison to last year there has been an increase of 9 percent during November of single family house starts while multi-family starts have remained constant.

Excess Inventory in Some Parts:

• In Texas and Florida, builders are recording high inventories of unsold homes, especially in the luxury sector.

2025 Predictions:

• The builders are not very optimistic but cautious, which is why they want to build affordable housing for most people so that eager entry-level home buyers will choose it.

An Increase in The Rate Of Foreclosure and Bankruptcy

Foreclosure:

• An Increasing economic stress and inflation is leading to a growth in US foreclosure filing and as a result between Q3 to Q4 of two thousand twenty-three there was a 13 percent increase.

Bankruptcies:

• There has been a year over year increase of 18 percent in the filing of personal bankruptcies showing the financial stress faced by the middle-class households.

Areas With the Highest Growth:

States like New Jersey, Illinois, and Nevada need the most scrutiny as they had the highest amount of foreclosure activity.

Broader Trends in Commercial Real Estate Portfolio Looking at the Bigger Picture

Retail Decline:

• The e commerce business has taken over which is why the rates have increased to 12 .8 percent which is causing the brick-and-mortar business to struggle.

Shifting the Office Network:

• Suburbs are seeing an increase in preferences for office spaces.
• Whereas cities are facing higher offices than ever before.
• SFF and NYC are quoted to have a very high vacancy rate cross country comparison shows a significant increase in demand.

E-commerce digitalization effect:

• The E-commerce and improvements in supply chain are the two most key drivers for a growth in demand for logistics and warehouse spaces.

Changes In Policy Affecting Housing

Inspection Report for FHA Loan Limits 2025:

• Prevalent headlines include the federal housing administration loan limits amendment.
• This will see the loan limits in high-cost regions increased to 1.2 million dollars.
• This development allows more buyers to take up markets with expensive places, including New York and California.

Tax Incentives for Affordable Housing:

• Integracare in Hexcel has prepared to lobby Congress and vote to extend the tax incentives for builders seeking to construct affordable housing projects, which is liable to solve the looming shortage of inventory.

Climate Change Effects on Real Estate

Flood Zones:

• The New FEMA flood maps, which will be published in early 2025, will likely categorise additional regions as high-risk, which will lead to an enhancement in the price of flood insurance for homeowners.

Wildfire Areas:

• Wildfires are a reality whose aftermath California, Colorado and other states are adjusting to.
• Wildfires have alternative real estate impacts, such as A
• advancing premiums of insurance and reducing property expenses of affected regions.

Real Estate Investment Trends

• Over time, the popularity of real estate properties designed for short-term rentals has not seemed to drop.
• However, in the bigger cities such as Miami and Los Angeles, some measures are being put in place that control who can purchase these properties.

As for communities made specifically for renters, investors are gradually moving in that direction as there is plenty of demand for such buildings since many people can’t afford to own a house.

Tech in Real Estate

There is a rise in people utilizing remote services to buy houses. People can now talk over platforms and do virtual tours, which reduces the waiting time and makes it more efficient.

When lending, companies have been leaning towards utilizing AI as part of the approving process. It speeds up the process significantly and lowers the amount of time spent on underwriting.

International Buyers Return

Luxury Properties across the United States have been catching the eye of international investors, especially those in New York, Miami & Los Angeles, Canada, Europe & China overseas investors seem to be returning in large numbers.

Make sure to keep an eye open for further updates as there is plenty more room to monitor these trends going into the new year.

Here’s your weekly snapshot of mortgage and real estate headlines for December 24 December 24, 2024:

Mortgage Rate Changes

30-Year Fixed Rates:

• The national average interest rate on a 30-year fixed mortgage hit 6.75%.
• As a result, predicting competitive rates shortly has become easier.

15-Year Fixed Rates:

• The market continues offering 15-year fixed mortgage rates at around 6.15%.
• Much lower than before.

ARM Rates:

• The popularity of adjustable-rate mortgages has prompted lenders to cut back on their offerings.
• 5/1 ARMs, conversely, have an average interest of 6.50%.
• A flash in the arm is observed and foreseen for early 2025, as inflation is also predicted to remain strong.

Housing Market Analysis

Home Prices:

• Key markets such as Florida, Texas, and California show continued appreciation in median home prices. At the same time, states like Wisconsin and Pennsylvania still appear to have leveled out at more sustainable rates.

Inventory Shortages:

• Urban areas, in particular, are experiencing volatile market conditions.
• While demand and, thus, prices continue to stay high, supply remains at historic lows.

Best Buyers’ Markets:

• Buffalo, New York, and Detroit, Michigan, are approaching reasonable prices for new homebuyers.

Here Are The Updates About FHA Loans For 2024

The Federal Housing Administration (FHA) raised the loan limit thresholds effective January 1, 2024.

• In low-cost areas, it is set to $500,000.
• The limit is set at $1.2 million in high-cost areas that can afford it, enabling homebuyers to have more choices.

Non-QM Loans Are Getting Popular Among Self-Employed Borrowers

Non-qualified mortgage loans are becoming more popular as more self-employed individuals enter the market. Various lending institutions have a wide variety of condotel and short-term investing options.

Shift in How Commercial Real Estates Are Sought After

The demand for multifamily building loans is increasing as more builders develop a strategy for constructing more projects in urban and suburban locations. Improvement in market conditions has enabled better entry price points for spec building of 1-4 unit real estate.

Private Equity Market with a Focus on Strategic Sourcing: The Midwest

Wisconsin:

• House prices continue to increase near Madison and Racine counties as more people from the area look for cheap housing and a better lifestyle.

Illinois:

• Chicago has a consistent level of interest for FHA loans, thanks to first-time home buyers who require financing and downpayment assistance programs.

Realstock Investor Programs

Realty investors are moving away from all capital cities and looking towards second-hand rental properties, as there is a good demand for rentals. There is still much interest in short-term furnished rental properties for places that are big tourist spots, but policymakers are increasingly holding back investment.

Top Updates to Regulation: There Is

The National Association of REALTORS(r) has settled on paying a realtor and buyer commission adjustments and structure to be in place come 2025. This has been proposed due to a discussion of concern that the agents will become purely marketing specialists, hence, out of the market.

Watch out for more analysis of these trends as the new year progresses.

Below is a comprehensive overview of the national mortgage and real estate market, focusing on specific areas as of December 23, 2024:

Mortgage NewsTrends in Mortgage Rates

30-Year Fixed Mortgage Rates:

Reports indicate that the rate for 30-year fixed mortgages is 6.79%. This implies a significant decline that has been observed globally. All this has resulted from the announcement made by the Federal Reserve regarding the possible lowering of interest rates in the year 2025.

15-Year Fixed Mortgage Rates:

The prevailing rates for this kind of investment are set at 6.11, which can benefit homeowners who want to refinance their land and take out a loan.

Activity Regarding Refinancing

Slowly, as the rates stay on the lower side, they are starting to impact the number of applicant refinance applications; however, they are still much lower than in the pre-2023 timeframe.

Federal Reserve Policy

The recent changes made to the Federal Reserve’s monetary policy, along with the anticipation that mortgage rates will begin to lower in the first half of 2025 due to a decrease in the federal funds rate, have helped diffuse uncertainty.

Highlights of the Real Estate Market/IndustryPrices of Houses

Trends Nationwide:

Home prices have increased steadily but not excessively in most regions, and major metro areas like Austin, Miami, and Seattle still face a demand-and-supply issue.

Growing Market in Rural Areas:

There has been a noticeable surge in the popularity of affordable housing options in rural regions, including South Dakota, Montana, and certain parts of Texas.

Sales of Current Houses

Recognizably, the two-year spoiler of progress has been broken, and we are now 2.5% up on existing home sales. This, however, was long overdue, for the buyers had progressed along adjusting to the new ‘high mortgage rates’ by how the market conducted itself.

Rental Market Update

Moving up on the scales of the national average rent, single-family rental homes do incite a slight increase in demand. The region of Nashville, alongside Orlando, is experiencing population growth alongside the pit of competition, consequently sending dwellings soaring.

Policy and Legislation Updates

Affordable Housing Initiatives:

The Fed anticipates tax rebates alongside grants to effectively ‘build where they are broken.’ The Biden administration has properly reserved funds and is now allocating them according to its needs.

Zoning Reforms C. Constit 1, supplementary to this chapter, has been enacted to streamline the zoning processes for smaller-scale projects and combat California’s dire housing shortage.

Property Tax Relief

Florida and Texas have stepped up to provide tax relief aid to owners struggling with increasing home valuations.

Industry Innovations and Trends

Green Housing Initiatives:

Created automated homes coupled with solar roofs and energy-conserving materials are in demand, increasing the buyer market, which feels welcomed to the bid.

Technology in Real Estate:

Properties are being bought and sold at a staggering pace as AI and blockchain technologies are employed, enhancing the efficiency of the process alongside increasing transparency within real estate transactions.

Expectations in the Making For 2025

The ongoing economic situation and inflation are said to have contributed to a considerable slowdown in the real estate market. However, this also means that it will take longer for property prices to skyrocket. According to experts, property prices grow around 4%. But that number will vary by 1 or 2% based on the property’s location. This inventory crunch keeps the demand high, contributing to the gradual increase in property prices.

Furthermore, it has also been predicted that the mortgage rates will decrease in mid-2025, with the 30-year fixed mortgage sitting around 6.25%

Buyers:

You’re best off waiting until 2025, as mortgage rates will certainly dip and are predicted to decrease gradually.

Sellers:

The market is leaning towards a seller’s market. If you have trouble selling your home, you can tweak the price, as homes in high-demand areas often sell at suitable rates.

Renters:

With the demand for rental options increasing daily, aspiring homeowners should consider exploring rent-to-own options.

The insights shared above should give you a better understanding of how the real estate and mortgage sector is shifting, keeping in mind the potential stabilization of the sector in 2025.

It is human nature to easily be tempted into corruption due to greed. There is overwhelming evidence Joe Biden is an obvious corrupt politician. How can a politician without ever having a job and a family of no wealth can become a multi millionaire as a career politician. Here is a clip about the Joe Biden Crime Family

https://youtu.be/7gN_KkmogUU

The U.S. mortgage and real estate market is shifting significantly as of December 18, 2024, which affects sellers, buyers, and investors alike. Here’s a comprehensive overview:

Mortgage Rates and Predictions

Let’s look at the current averages step by step. These include the 30-year fixed mortgage, which sits at around 6.78%; the 15-year fixed rate, which sits at 5.94%; and the 5/6 adjustable-rate mortgages (ARMs), which average 7.35%. While all this was happening, the Federal Reserve steadily implemented cuts by scaling the benchmark rate to around 4.3%. However, because of the economic woes and low inflation, mortgage rates remained high, above 6%, as many analysts calculated.

Housing Market Activity

7.35% fixed mortgage rates, along with inflation and remodeling costs, severely restricted builders and home buyers alike from pursuing new projects. Most builders’ optimistic stance, hoping for a turn in market conditions, along with the continued price rise even as remodeling costs rose from $350,000 to $370,000 between 2020 and 2021, further restricted activity in the industry.

NewHome Construction

As housing construction felt the initial effects of the CR2 storm in 2021, the sudden rise in temperatures in the fall of 2022, coupled with the lack of consistent supply, felt like a final unlocking of the keyhole to this issue, with building starts in November having risen by 6.4% to an annual rate of an estimated 1 million units.

Although prices have risen, the rate of increase has been moderated compared to previous years.

Home Price Forecast for 2024-2029

Due to increased listings enabling a relatively higher home sales rate, home prices are predicted to remain flat. However, home prices will gradually rise between 2025 and 2029, with an estimated 1% increase yearly.

Housing Market Forecast for 2024

Substantial growth is anticipated in metropolitan housing markets, such as Oxnard, CA, Rochester, NY, and San Diego, CA. Prices and sales will ideally grow due to good economic conditions and stable prices.

Consumer Insights and Issues in the MarketMillennials as Homebuyers

One of the biggest blocks preventing millennials from fully engaging in the market is high home prices and higher mortgage rates. Based on current trends, 30-year-olds have a 43% homeownership rate, compared to 52% for baby boomers of the same age. Perceptions of homeownership or wealth due to economic imbalance within the generation heavily impact the decision-making process.

Concerns About Affordability: Today, as before, affordability continues to be an issue due to increased home prices and high mortgage interest rates. This led to elevated monthly repayments on existing mortgages. The increasing inventory levels would assist many prospective buyers, but the financial problem would remain.

Investment Opportunities

Real Estate Investment Trusts (REIT): Analysts say total returns on U.S. REITs should fall between 5 and 15 percent in 2025.

American Healthcare REIT, Extra Space Storage, and Cousins Properties are the best choices. These have made sensible investments and displayed steady occupancy rates. Still, their performance could be influenced by high valuations and anticipated changes in tax policies.

The American mortgage and real markets are adjusting to a trying period defined by high rates, low appreciation of home prices, and shifting consumer habits and behaviors. Operators must keep abreast of economic indicators to operate effectively in this economy, including the Federal Reserve’s decisions, policies, and market trends.

Mortgage and Real Estate News Weekend Edition: Market Wrap-Up Update (December 16 – December 21, 2024):

Mortgage Rates

Current Rates:

• The average 30-year fixed mortgage rate is steady at 6.4% as of December 21, with the average fifteen-year fixed in the 5.8% region.
• The ongoing stability during a slow period provides some relief to home buyers.

Market Influences:

• Inflation figures and the Federal Reserve’s message on the likely direction of interest rates have contributed to fluctuations in existing economic indicators, keeping mortgage rates slightly further tempered.

Home Sales Activity

Existing Home Sales:

• In November, the National Association of Realtors registered a surge of 1.5% in existing home sales.
• This increase signals a boost in buyer activity for that month, caused primarily by seasonal changes and a subsequent boost in buyer activity.

Pending Home Sales:

• The market shows signs of strength going into the new year, as pending home sales also bumped by 2.3% during November.

Housing Inventory

Inventory Levels:

• Despite the increase in sales, housing inventory remains tight.
• The current supply of homes is around 2.7.
• This number is fairly low compared to the historical average of six over the months.

New Listings:

• In December, new listings noted an increase of 4%, which is commendable.
• This further shows that despite sellers’ affordability challenges.
• There is still a willingness to join the real estate bandwagon.

Home Prices

Price Trends:

• The median existing home price has served as a foremost determinant in history.
• The average selling price at the national level was $370,000, down almost two percent compared to the past year.

Regional Variations:

• Particular regions within the Southern and Midwestern parts of America are either showing slight rises in value or stabilization of values, in contrast to the major restructuring occurring within the Californian and New York markets.

Foreclosure Rates

Foreclosure Data:

• Financial strains on borrowers rapidly increase, resulting in foreclosure filings soaring by 10% in the last month.
• Significant activity has been done in foreclosures in Nevada and New Jersey.

Government Response:

• Local governments are trying to implement support measures for families facing foreclosure.
• These measures incorporate counseling services and monetary support.

Regulatory Developments

Federal Reserve Meetings:

• Over the recent months, mortgage rates have demonstrated signs of higher stability than in the past.
• This is due to the federal funds rate remaining steady after the Federal Reserve’s recent meeting.

Legislative Initiatives:

• Congress is paying attention to ongoing discussions on amending housing policies such as zoning laws and increasing funding for affordable housing.

Market Outlook

Outlook Towards 2025:

• Analysts expect the housing market to stabilize further in early 2025 if there are more sellers since there might be more inventory.
• However, other headwinds, like high mortgage rates and economic uncertainty, may continue to dampen buyer demand in the property market.

Affordability Constraints:

• The affordability constraint continues to be serious, especially for first-time buyers.
• More attention to the developments of economic factors and interest rate fluctuations will be very important for the housing market’s health in the months close to the elections.

The picture of the mortgage and real estate market between 16 and December 21, 2024, resembles a guarded optimism given the developing challenges. There are signs of home sales picking up modestly and mortgage interest rates stabilizing, which is positive. In contrast, supplies and affordability remain key drivers in the lead-up to the new year. The key economic indicators and regulatory measures have given clues on what to anticipate in housing for 2025.

• This discussion was modified 1 month, 1 week ago by  Gustan Cho.
• This discussion was modified 1 month, 1 week ago by  Gustan Cho.

As of December 19, 2024, the U.S. mortgage and real estate markets have made significant progress that affects buyers, sellers, and investors.

Here’s a detailed summary :Trends in Mortgages

Current Averages:

• The typical rate for 30-year fixed mortgages is 6.72 percent, compared to 6.60 percent a week ago.
• This increase is partly fueled by the Fed’s recent prediction that there will be fewer rate cuts in 2025 than anticipated.

Actions of the Federal Reserve

Revised forecasts from the Federal Reserve have altered long-run views of the economy. They are attributed to the recent increase in mortgage rates. The long-run expectations showed caution for investors who were looking for more aggressive cuts in the near future.

Expert Predictions

Economists predict that rates will remain above 6 cents through 2025. Some estimates peak as high as 6.8 cents. These estimates are attributed to the risks of inflation and rising debt issued from the government’s uses.

Dynamics of the Housing Market

Homes on Sale:

• In November, the sale of already-owned homes in America rose for a third month, reaching an annualized rate of 4.2 units.
• Considering the context of last year, this is an increase of 6.1 percent and the highest annual increase since 2021.
• In light of this surge, predictions for the year indicate a house shipment on a scale comparable to 1995.

Home Prices

The transition in the U.S. recession posted buck sales prices of up to $406,100 in November. The data shows an increasing average sales price driven by increased demand in the housing market regardless of unprecedented mortgage rates.

Inventory Levels

By the end of November, inventories comprised 1.33 million homes, a 17.7% increase from current sales. Despite this surge in homes, the market remains competitive, with >30% fewer stocks than those pre-COVID.

Builder Activity

Lennar Corporation:

• A leading bill in home sales, Lennar reported a dip in sales owing to the higher interest rates of mortgages.
• The brand hinted at a shift in strategy to lower prices further.
• However, the current quarter prediction does not seem promising, as earnings from home sales are the lowest in over six years.

Market Predictions

Looking Forward To Buying A House:

• Real estate expert Barbara Corcoran predicts a surge in condo buying activity if loan costs decrease to just 5%.
• This is because Ms Barbara believes that such a decrease in mortgage costs will cause the real estate market to explode.
• Loan costs have decreased to 6.6% from 6% to 7%.

The mortgage rate and the real estate industry in the U.S. are experiencing a combination of increasing mortgage rates, more home sales, and new strategies by builders. Economic drivers, Federal Reserve activities, and other developments should be tracked to make proper decisions in this volatile framework.

https://www.youtube.com/watch?v=Arm-B_jWugc&ab_channel=OneRentalataTime

• This discussion was modified 1 month, 1 week ago by  Gustan Cho.

Fresh Update on National Mortgage and Real Estate News highlights for December 20, 2024.

National Mortgage And Real Estate News

Trends in Mortgage Rates

The average 30-year fixed mortgage rate has remained consistent at 6.4, dropping fractionally compared to last week, offering a tiny amount of hope for future buyers in this market.

End of The Year Home Sales Statistics:

Data recently disclosed highlights that existing home sales have grown by 2% as of December, highlighting a slow market recovery as sellers take advantage of lower rates before the start of the new year.

Newly Built Properties

The United States Census Bureau announced a 15% growth in the start of new housing units for November; this can be attributed to the demand for individually owned homes. Builders are meeting the constant demand for housing.

Rates Of Foreclosure

The foreclosure rate continues to be at 0.4 percent, which is still lower than expected. This all hints towards stability in the economy and assistance to homeowners with increased property value in specific areas.

Dynamics Of The Rental Market

Renting, on average across the country, has surged by around 3.5 percent compared to last year. The major areas have significantly more demand because of the gradual change in work-from-home policies and tenants’ desire to be closer to their place of work.

Influences Of New Policies

New Federal housing policies to make properties more affordable and easier to obtain are expected to take effect in early 2025. These policies will affect mortgage rates and the amount of housing available.

Tech in Real Estate

The introduction of AI tools and the option of virtual tours is making real estate purchasing easier. Both buyers and agents are making good use of these add-ons.

Market Predictions for 2025

The younger generation will greatly influence the market, so it is predicted that 2025 will be a very busy and competitive housing market. It would be easy to assume that prices would also increase.

With favorable mortgage rates and encouraging sales and construction of homes, the real estate sector is exhibiting a healthy outlook as we near the end of 2024. When considering 2025, investors and buyers should be aware of market developments and potential legal changes that could impact their choices.

https://www.youtube.com/watch?v=Arm-B_jWugc&t=481s&ab_channel=OneRentalataTime

As far as the most recent update from December 16, 2024, is concerned, the mortgage and real estate sector is as follows:

Mortgage Rates

Current Statistics: The national average for a fixed-rate mortgage for a period of 30 years has decreased to approximately 6.6%, a reduction from 6.69% recorded a week before.

State Variations: Interest rates differ by state. Some states offer up to 6.68%, while others charge a high 7.09%.

Refinancing Rates

For the past 30 years, refinance mortgages have seen highs of 6.98%, which is eleven basis points greater than before.

Housing Market Trends

Home Sales: Compared to last year, house sales have increased by 22% over a month.

Home Prices: According to NAR, house prices will increase by 2%, and the median rise is estimated to be $410,700 thousand by 2025.

Inventory Levels

With stock inventory expectations low, more than $1.45 million housing unit sales are predicted for 2025 after the pandemic.

Expert InsightsMarket Predictions

Real estate expert Barbara Corcoran claims that if mortgage rates drop near 5%, the housing market will jump and go “ballistic.”

First-Time Buyers: First-time homebuyers account for less than a quarter of the entire market, an all-time low. There is a dire “urgency” for new buyers.

Home Renovations

Spending Trends: Due to the current state of home prices and mortgage rates, homeowners are more likely to spend more on renovations than moving.

Global Perspectives

UK Market: The UK house markets have seen exports slump for two months, resulting in average declines of £6395 in the December market.

China’s Market

During the last 17 months, house prices have depreciated slower than usual in China, which could indicate that the region’s property or real estate market is on its way to recovering and stabilizing.

Home buyers and real estate markets have been riling with activity, resulting in declining mortgage rates and stimulating purchasing and spending on home upgrades. Most experts in the field suggest that further step-downs in mortgage rates lead to much higher activity within the market, especially with those buying homes for the first time.

https://www.youtube.com/watch?v=GeSO9zBYeyc

• This discussion was modified 1 month, 2 weeks ago by  Gustan Cho.

On December 15, 2024, the U.S. mortgage and real estate market is expected to see the following changes:

Trends in Mortgage Rates and Market Development: Reduction of Current Mortgage Rates

The average fixed mortgage rate for 30 years has dropped from 6.69% to 6.6% for the third week. Potential homebuyers can sigh relief, especially as we enter a low-competition winter period.

People Looking To Purchase Homes Expected To Rise

The NAR estimates selling numbers to be higher than in 2025 with the 6% mortgage stabilization rate. The sale value of previously-sector-owned homes is expected to be $410,700, which is a modest increase of 2%. The availability of additional stock and the increase in the number of people relocating to metro areas are shaping the market.

Regional Market HighlightsOuter Suburbs Advancement

According to Australia’s report, outer suburbs and non-metropolitan regions are comparatively outperforming other metropolitan regions in household demand, and the time taken to sell homes is also significantly less. Two cities in Australia, Perth and Brisbane, have seen a major decline in the median selling time, indicating significant market growth after particular times.

Attraction of Myrtle Beach

Myrtle Beach, SC, is gaining traction with retirees. Between 2020 and 2023, the nation saw the maximum adult growth rate of those over 65.

The local housing market has different types of properties that appeal to a wide range of buyers.

Innovations and Industry ChallengesFrustrations in Mortgage Credit

In November, mortgage credit availability drastically dropped, with government indices dropping to the lowest since 2012. Reduced investor interest has affected the liquidity in the market.

Technological Advancements

There is a growing trend within the mortgage field of enhancing how customers are treated and supported during the lending process. Lenders are adapting new technologies that optimize business processes, lower costs, and address changing consumer needs to enhance and deliver value throughout the customer journey.

Consumer StrategiesApps for Mortgage Overpayment

Owners use Sprive and similar applications to make mortgage overpayments, likely reducing their terms and the total interest paid. These applications are linked to a bank account and offer cash back, and these savings contribute to such payments.

Market Outlook: Predictions for 2025

According to the experts, mortgage prices will stay around 6% in 2025, the new mark. These reductions would allow more buyers to enter the market after the interest rates increased previously. However, affordability will remain a barrier, especially in the more sought-out areas.

https://www.youtube.com/shorts/pQrWdi0KNtE

As of December 17, 2024, the mortgage and real estate markets are experiencing notable developments across various regions. Here’s a comprehensive overview:

Mortgage Rates and Trends

• Current Averages: The national average for a 30-year fixed-rate mortgage is approximately 6.78%, rising over the past five days.
• This upward trend followed when rates reached their lowest levels since October.
• State Variations: Refinance rates vary by state, with New York, California, and Arkansas offering some of the lowest rates between 6.70% and 6.90%. In contrast, states like Kentucky, Hawaii, and Illinois have higher rates, ranging from 7.02% to 7.09%.
• Expert Predictions: Economists forecast that mortgage rates will remain above 6% into 2025, with some estimates reaching 6.8%. Factors influencing these projections include potential inflation and national debt concerns.

Real Estate Market Highlights

• Luxury Rentals: Miami Heat star Jimmy Butler rents an 8,500-square-foot mansion on Miami Beach’s exclusive Hibiscus Island for over $70,000 monthly. This property features luxurious amenities, including ocean and skyline views, a private dock, and extensive recreational facilities.
• Australian Market Dynamics: In Australia, housing has become the foremost concern in 2024, with costs escalating significantly. Mortgage holders face increased interest rates, leading to financial strain for many. The average monthly mortgage repayment has nearly doubled from $2,291 in 2022 to $4,428 in 2024.
• UK Housing Outlook: The UK propertSignificant25, such as stamp duty threshold alterations effective April 1, potential mortgage rate reductions later in the year. These factors are expected to influence the UK property market, behavior, and market activity.

Market Predictions and Buyer Behavior

• Potential Market Surge: Real estate expert Barbara Corcoran predicts that if mortgage rates drop to around 5%, it could cause a significant increase in homebuying activity, making the housing market “go ballistic.” Mortgage rates have fallen to 6.6% but fluctuate between 6% and 7%.
• Millennial Hesitancy: Millennials born between 1981 and 1996 exhibit caution when entering the housing market. Past economic crises and volatile home prices have led this generation to view homeownership as a speculative asset, contributing to a lower homeownership rate than previous generations.

The mortgage and real estate landscapes are characterized by fluctuating rates, regional disparities, and shifting buyer sentiments. Stakeholders should closely monitor these trends to make informed decisions in this dynamic environment.

With Mortgage Rates Jumping from 2.0% to 8% in 2 years, inflation out of control, coronavirus pandemic outbreak, home values surging to all time highs, voter fraud, out of control political corruption, is the Mortgage Industry struggling?

A true mentor, friend, business Associate, Leader, and hands down the best inspiration, Kevin DeLory, The Chief Lending Officer at Equity Prime Mortgage (EPM). I never spoke or directly ever communicated with this great man and leader, Kevin DeLory. However, I have grown very fond of this great man and seem I have known him all my life. I first became curious about The leadership of Equity Prime Mortgage became I became intrigued with working with a young talented wholesale account executive three years ago, Christian Sorenson. I became very fond of Christian Sorenson over the years and beloved it or not, Christian Sorenson was part of a package deal when I was negotiating my employment for a P and L Branch at NEXA Mortgage with CEO Mike Kortas. I respectfully requested to CEO Kortas if TEAM GCA is moving to NEXA Mortgage, Christian Sorenson needs to be our EPM account executive even though there were other talented EPM wholesale reps. Having interest,friends, family, fondness, and experience in law enforcement, I started poking around the foundation of EPM and that’s how God dropped Kevin DeLory on my lap. WOW!!! Every one of his messages is spiritual and not a statement that I do not agree with this legend of a great man. Seems I known Kevin DeLory all my life. I become to know him more and more as time passed and asked a favor to Christian Sorenson if he can arrange a phone call between the two of us. There is not a person in the world 🌎 who I have prayed more for than Kevin DeLory. My foundation is you are who you hang with. It’s the people that make a great team. It’s the team that make a great company. Kevin DeLory is the type of leader we need for decades to come to make this World a better place for our children, and grandchildren. God Bless this GREAT FRIEND AND 🙏 ❤️ LEADER. WE LOVE YOU KEVIN DELORY

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Occupancy fraud, also known as occupancy misrepresentation or occupancy fraud scheme, is a type of fraudulent activity that occurs in various industries, including real estate and insurance. It involves misrepresenting the occupancy status of a property or the intended use of a property for personal gain or to obtain favorable terms or benefits. Here are some common examples of occupancy fraud:

1. Mortgage Fraud: In the context of real estate, occupancy fraud can occur when a borrower misrepresents their intention to live in a property as their primary residence when, in fact, they plan to use it as an investment property or a vacation home. This misrepresentation may be done to secure a lower interest rate or down payment requirement, as primary residence mortgages often have more favorable terms.

2. Insurance Fraud: In the insurance industry, occupancy fraud can occur when an insured individual misrepresents the occupancy status of a property to obtain lower insurance premiums. For example, someone may claim that a property is their primary residence when it is actually vacant or used as a rental property to secure lower insurance rates.

3. Rental Fraud: In the rental market, tenants may engage in occupancy fraud by subletting or renting out their leased property without the landlord’s knowledge or consent. This can lead to unauthorized occupants living in the property, potentially violating lease agreements and causing legal issues.

4. Government Programs Fraud: Some government programs and incentives are based on the occupancy status of a property. Individuals or businesses may engage in occupancy fraud to qualify for these programs when they are not eligible, potentially receiving subsidies or benefits they do not deserve.

Occupancy fraud is illegal and can have serious consequences, including financial penalties, legal actions, and damage to one’s reputation. Lenders, insurers, landlords, and government agencies often investigate and take measures to detect and prevent occupancy fraud to protect their interests and maintain the integrity of their programs and services.

Are many Mortgage Lenders going out of business due to high mortgage rates?

Auto Repossessions are nearing 20,000 per day and increasing month after month by 5%

Mortgage Rates are finally dropping fast. JEROME POWELL, The Chairman of the Federal Reserve Board announced yesterday the Feds will not be increasing interest rates for the past two Fed meeting which caused mortgage rates to plummet. The 10 year treasuries started plummeting the past few days from a high of 5.0% to 4.66%

Breaking News from Fannie Mae and Freddie Mac. Effective immediately homebuyers can purchase 2 to 4 unit multi family homes with 5% down payment. Before today’s Breaking News owner occupant primary multiunit homebuyers needed 15% down payment. Private mortgage insurance is required and we don’t yet know what the PMI factor is as of today. Just wanted to share this Breaking News with our forum viewers .

• This discussion was modified 1 year, 3 months ago by  Sapna Sharma.

Analyst’s forecast for homebuyers for 2024 is not good. Real Estate media giant ZILLOW NEWS forecasts home prices will keep increasing into 2024 despite skyrocketing Mortgage Rates. ZILLOW estimates a 4.9% increase in home prices from August 2023 to August 2024 due to short housing inventory. There’s a shortage of homes Nationally and many first time homebuyers are getting priced out of the housing market. Many homebuyers are finding it more difficult coming up with the down payment of a home purchase.

https://www.biggerpockets.com/blog/zillow-predicts-5-percent-increase-in-home-prices-by-august-2024?utm_source=Iterable&utm_medium=email&utm_campaign=Newsletter%20%7C%2009/24/23%20Free%20(Control)

• This discussion was modified 1 year, 3 months ago by  Sapna Sharma.

biggerpockets.com

Zillow Predicts a 4.9% Rise in Home Prices by Next August—Is That Possible?

Zillow is really bullish on housing, but are they right? How much are they projecting prices to grow? And who's in disagreement?

Where is the housing market headed? What are your thoughts? I want to hear everyone’s thoughts about the housing market forecast. Are we headed towards a housing crisis worse than the 2008 financial crisis? Take the following into consideration:

1. Rates went from 2.5% in 2019 to today’s 7.5%.

2. Inflation at historic rates.

3. Housing prices up 50% or more since 2018.

4. Economic numbers are lies. The Biden Administration have lied about economy and economic growth. Joe Biden said our economy is doing great and Inflation is only a 4% and unemployment rate is only 3.2%. BIG FAT LIES AFTER LIES.

5. Kamala Harris, the first woman who slept her way to the White House touts Bidenomics is GREAT 👍 and that it WORKS: BULLSHIT 🐎 🐴 🎠 🏇 HORSESHIT 🫏 🐴 🫏 🐴

The housing market forecast looks gloomy. With the average home prices up 100% since 2019 with rates at 7.5% and inflation at historic highs, homebuyers are perplexed as to buying a house now or later. Besides all the above, homeowners insurance is up as 500% and property taxes are skyrocketing.

Watch the attached video.

https://youtu.be/d01s6tsDGaA?si=oRGy90yEOhzXiMCa

What are mortgage rates today Monday August 5th, 2024. Why is the Dow Jones Industrial Average Down 1,000 points? Why are the 30-year U.S. Treasuries down and what does this mean to mortgage rates? Why is Gold and Silver down and what this mean? What is the Federal Reserve Board thinking?

Ever since I remember, Florida was the top favorite preferred state to relocate. Retired Americans moved to Florida to live their final days and die there. Is that still the case?

https://youtu.be/heeyfsnW9_k?si=yp74q9MnZcDZFiGg

What happened last week that mortgage rates are plummeting. The 30-Year Treasuries dropped to 3.8% which tanked mortgage rates on government loans from 7.0 to 6.0%. 30-year U.S Treasuries were as high as near 5.0% just a few weeks ago. Gold increased to over 2,500 per ounce which is a historic high. Silver did not follow gold prices because banks were short selling Silver like crazy because banks and the Globalists have a huge short position and are afraid of getting margin calls on their Silver short positions. What economic numbers came out that caused the financial markets upside down? Will mortgage rates continue to plummet? Will it be beneficial to refinance now? How about doing Streamline Refinance on FHA and VA Loans? If I do an FHA or VA Streamline Refinance loan, can I do another FHA Streamline or VA Streamline Refinance loan if mortgage rates drop again? What are rates on conventional loans?