Tag Archive for: Fannie Mae

Real Estate Update: Inventory Squeeze Cools Mortgages

Mortgage application volume dropped by 7.2% last week, a drop that the Mortgage Bankers Association is attributing to intense competition among buyers for a relatively small number of units available.  Across the nation, applications for mortgages for purchasing homes specifically declined by 11% over the week, which represented a total drop of 20% year-over-year.  This […]

Real Estate Update: Mortgage Rates Hover at 6%

According to Freddie Mac, the national average interest rate for a 30-year fixed-rate mortgage has been declining slightly over the past three weeks, with the national rate reaching a low of 6.32% for the week of March 30, 2023.  This dip in rates has led to an uptick in new mortgage applications, with the Mortgage […]

Fannie Mae and Freddie Mac Announce Major Changes to Mortgage Financing

New mortgage financing policies from Fannie Mae and Freddie Mac are poised to shake up the housing market for 2023.  Loan Level Price Adjustments (LLPAs) are determined by a number of factors, most prominently the borrower’s credit score and debt-to-income ratio (DTI), among others.  The new policies concerning LLPAs will reduce the cost incurred for […]

New Financing Limits Set for 2023 As Housing Market Continues to Cool

Weekly statistics for the Huntsville/Madison County residential real estate market, compiled by the Huntsville Area Association of Realtors (HAAR), continues to show a trend of general slowdown.  The report, accurate as to December 10, 2022, shows that both new listings and pending sales for single-family units continued to decrease, with listings down 27% and pending […]