Loan originations for jumbo residential mortgages are set to hit a level that has not been seen since the run-up to the 2008 financial crisis, Bank of America researchers posted in a weekly report. Skyrocketing home prices are forcing home buyers to borrow more to afford the rising costs.Mortgage loans that exceed conforming loan limits set by Freddie Mac and Fannie Mae are estimated to reach $550 billion this year, Bank of America estimates. A l
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iPro was founded on the idea of building a better living with champion real estate services. We focus on incorporating and mastering the latest technologies and perform all types of real estate transactions. Our team of professionals set a stronger standard of business and give superior results.Click here for information on becoming a salesperson.
Homebuyers are bidding up home prices as they compete for homes. But appraisals don’t always agree with the offer the seller finally accepts. Some homes are appraised below the agreed-upon sales price, which could upend a deal.Twenty-three percent of contracts were delayed due to appraisal issues, according to the latest REALTORS® Confidence Index Survey, based on a survey of real estate professionals’ transactions. About 12% of transactions
Profits are shrinking for home flippers as high home prices and construction costs dig into flippers’ income. But home flipping is still increasing, according to data from realtor.com®.“There is opportunity, but you’ve really got to be smart in where you purchase and know that market,” Charles Tassell, CEO of the National Real Estate Investors Association, told realtor.com®. “Finding the right spot is the hard part right now.” A hom
Home buyers have another shot at snagging mortgage rates under 3% this week. The 30-year fixed-rate mortgage fell to 2.99%, defying expectations that below 3% rates were now gone.The Federal Reserve recently warned that it will soon begin tapering its bond purchases, which is expected to move rates up. The National Association of REALTORS® is predicting that the 30-year fixed-rate mortgage will average 3.5% by mid-2022.But over recent weeks
Sixty-seven percent of U.S. households own a pet, and nearly half of those pet owners are renters, according to new research from All About Cats, a pet resource website.For renters whose pets are a vital consideration during their home search, All About Cats released research on the best and worst places in the U.S. to find a pet-friendly rental property. It’s easiest to find a pet-friendly rental in New York and Charlotte, N.C., according to t
Home buyers may find more opportunities with a greater number of listings for sale and may be able to snag better housing deals this month. A new analysis from ATTOM Data Solutions shows that October is the best month of the year to buy a home.Buyers who close in October tend to get better deals compared with those who purchase during the spring buying season. Homes tend to fetch lower premiums than other months of the year. For example
Lawmakers on Capitol Hill announced Thursday that they've reached a deal to lift the national debt ceiling through December while continuing to work on a longer-term budget solution. The deal comes a day after Charlie Oppler, president of the National Association of REALTORS®, met with President Joe Biden and other business leaders at the White House on Wednesday to discuss the issue.Biden called the meeting to pressure Congress to act before Oc
Builders are up against short supplies of a variety of materials needed to build homes, such as wood paneling, ceiling joists, and pipes. They’re searching for substitutes to keep construction schedules on time, but the process is also adding to their costs.Supply shortages have become a common story in the homebuilding industry over the past year. More than 90% of builders say they have faced a shortage of appliances, framing lumber, plywood,
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