Fannie Mae Releases Forecast on Housing, Economy

“Given improvements seen in housing, Fannie Mae revised its housing forecast higher for 2012 and 2013 in its November economic outlook report. According to the GSE, the fundamentals are set in place for a “solid” housing recovery, such as low interest rates, rising prices, and a labor market that’s healing. Considering these developments in housing, …

Continue reading ‘Fannie Mae Releases Forecast on Housing, Economy’ »

Low Rates, High Obstacles to Refinancing Mortgage

As interest rates have slid over the past couple of years, Gabriel Bousbib of Englewood, N.J., refinanced his 15-year mortgage not once, but twice-cutting his interest rate in two steps from about 4.6 percent to 3.375 percent. He’s one of a number of homeowners who refinanced just a year or two ago, but decided it …

Continue reading ‘Low Rates, High Obstacles to Refinancing Mortgage’ »

Consumer Sentiment Improving, Fannie Mae Survey Shows

Respondents from a Fannie Mae National Housing Survey for January 2012 expressed expectations for home prices to increase by 1 percent over the next 12 months, and most Americans continue to expect no change in mortgage rates. This marks the fourth month in a row consumer expectation was positive. “The Federal Reserve’s pledge to keep …

Continue reading ‘Consumer Sentiment Improving, Fannie Mae Survey Shows’ »

Six must-haves for mortgage approval

Interest rates are hovering around historical lows, and low interest rates increase affordability, making it easier for buyers to qualify. Yet stories of buyers waiting months to gain loan approval and home purchase transactions not closing on time due to lender’s strict underwriting are all too common. Some buyers are turned down for illogical reasons. …

Continue reading ‘Six must-haves for mortgage approval’ »