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By Dennis Norman, on December 30th, 2011
Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS), showing average fixed mortgage rates finishing the year near their all-time historic lows. Thirty-year fixed rate mortgages averaged 3.95 percent and have been at or below 4.0 percent for the past nine consecutive weeks keeping homebuyer affordability at a near all-time high.
By Dennis Norman, on October 17th, 2011
Freddie Mac released it’s U.S. Economic and Housing Market Outlook for October this morning showing demand for rental housing on the rise and that the multifamily sector of the housing market is a strong positive signal for the U.S. Housing Industry.
Report highlights include:
Over the year ending mid-2011, the Census Bureau reported a net increase
Continue reading… Rental housing on upswing
By Dennis Norman, on October 6th, 2011
This morning, Freddie Mac released the results of it’s Primary Mortgage Market Survey revealing that the interest rate on a 30-year fixed rate mortgage averaged 3.94 percent, dropping below 4.0 percent for the first time in history! All I can say is WOW!
By Dennis Norman, on September 29th, 2011
This morning, Freddie Mac released the results of it’s Primary Mortgage Market Survey revealing that the interest rate on a 30-year fixed rate mortgage averaged 4.01 percent, which is an all-time record low and the interest rate on a 15-year fixed rate mortgage averaged 3.28 percent, also an all-time record low!
By Dennis Norman, on May 16th, 2011
HomeSteps, the home-sale division of Freddie Mac, announced today it is launching a nationwide sales promotion on it’s inventory of foreclosed homes starting today. The promotion, titled “The HomeSteps Summer Sales Promotion”, is offering up to pay buyer’s closing costs, up to 3.5 percent of the sales price and a bonus to the selling
Continue reading… Freddie Mac Offering Closing Cost Assistance to Home Buyers
By Dennis Norman, on December 20th, 2010
Freddie Mac, one of the nation’s largest investors in conforming, conventional mortgages, announced it will delay initiating foreclosure for at least nine months for financially troubled service members who are released from active duty through the end of 2011 and have Freddie Mac-owned mortgages.
“Our military make sacrifices every day to protect
Continue reading… Freddie Mac Extends Foreclosure Protection for Service Members Through 2011
By Dennis Norman, on October 5th, 2010
Dennis Norman
The CEO of Freddie Mac, Ed Haldeman, published a blog post this week which said reports of mortgage fraud were on the rise; there were nearly 38,000 cases of mortgage in the first half of 2010 – a 13 percent increase over the same period in 2009.
Haldeman says that the fraudsters prey on
Continue reading… Four Tips for Avoiding Mortgage Fraud
By Dennis Norman, on June 21st, 2010
Dennis Norman
Last week both Fannie Mae and Freddie Mac announced relief for homeowners with a mortgage insured by either agency (which accounts for over 90 percent of the home loans in the U.S.) that either have drywall problems (the Chinese drywall issue) or are in the Gulf coast area and are affected by the
Continue reading… Relief Available For Homeowners with Drywall Issues or Affected by Gulf Oil Spill
By Dennis Norman, on January 8th, 2010
Dennis Norman
Today the Federal Housing Finance Agency released it’s “Foreclosure Prevention & Refinance Report for the Third Quarter 2009“. This report gives data on Fannie Mae and Freddie Mac, the two-quasi-government agencies that either own or insure most of the home loans in the U.S., including how foreclosure prevention and loan modification programs under the
Continue reading… Update on Fed’s Foreclosure Prevention and Loan Modification Programs
By Dennis Norman, on December 18th, 2009
Dennis Norman
Freddie Mac, Fannie Mae and CitiMortgage give borrowers a break over the holidays…
Within the past day Freddie Mac and Fannie Mae have both announced that they are suspending evictions from December 19, 2009 through January 3, 2010 on foreclosed homes, two families and four families, that they hold.
CitiMortgage and CitiFinancial announced
Continue reading… Evictions and foreclosure activities suspended over holidays for some borrowers
By News Desk, on November 25th, 2009
15-Year FRM Drops to Set Another New Low in Freddie Mac Survey History
McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.78 percent with an average 0.7 point for the week ending November 25, 2009, down from last
Continue reading… 30-Year Mortgage Interest Rates Match All Time Low This Week
By Dennis Norman, on November 12th, 2009
Freddie Mac announced today that it’s conforming loan limits for 2010 are unchanged from those in effect for 2009 for all areas of the United States.
The loan limits set the maximum original loan amounts allowed on single-family conventional mortgages Freddie Mac can purchase except in high cost areas. The loan limits for first mortgages are:
$417,000
Continue reading… Freddie MAC leaves loan limits for 2010 unchanged from 2009
By Dennis Norman, on October 26th, 2009
Dennis Norman
As if the fragile housing market didn’t already have enough deadlines to be concerned about, namely the home-buyer tax credit that has been a much-needed shot in the arm to the housing market and is set to expire November 30th, now there’s another deadline looming on the horizon: The American Recovery and Reinvestment Act
Continue reading… Upcoming Expiration of Increased Loan Limits for GSE’s and FHA already impacting buyers
By Dennis Norman, on October 6th, 2009
Dennis Norman
By: Dennis Norman
In this challenging real estate market agents are looking for ways to find new business and many have turned to short sales. It’s no secret that short sales can be a nightmare, taking weeks and even months to get an answer from a lender on a deal, causing many deals to
Continue reading… Short sales increase by 45 percent; no end in site
By Dennis Norman, on October 1st, 2009
By: Dennis Norman
Back in July I did a post about Freddie Macs “Smartbuy” sales promotion for owner-occupants buying Freddie Mac Homesteps(R) Homes. The special offer began July 17, 2009 and ends October 30, 2009 so there is less than a month to take advantage of it.
Under this promotion people buying a Freddie Mac home for
Continue reading… Time is running out to take advantage of Freddie Mac’s ‘SmartBuy’ Sales Promotion
By Dennis Norman, on September 30th, 2009
Dennis Norman
By: Dennis Norman
Here is some information agents should share with clients that may be struggling to keep up with their payments on their mortgage, or struggling to get through the paperwork and other requirements for a loan modification under the Affordable Refinance Program.
Freddie Mac has launched an effort to help borrowers delinquent borrowers obtain
Continue reading… Freddie Mac offers loan modification “room service” to help borrowers
By Dennis Norman, on September 18th, 2009
Dennis Norman
By: Dennis Norman
According to Freddie Macs weekly mortgage market survey the interest rate on home mortgages dropped for the third-consecutive week and remains at a three-month low. The survey shows the interest rate on a 30 year fixed rate mortgage for the week ending September 17, 2009, averaged 5.04 percent with 0.7 percent
Continue reading… Interest rates drop for 3rd consecutive week; remain at 3-month low
By Dennis Norman, on August 20th, 2009
Dennis Norman
According to Freddie Macs weekly mortgage market survey the interest rate on home mortgages dropped to a new three-month low. The survey shows the interest rate on a 30 year fixed rate mortgage averaging 5.12 percent with 0.7 percent in fees and points this week, down from 5.29 percent last week. Last year
Continue reading… Interest rates drop to three month low
By Dennis Norman, on July 27th, 2009
Charles McMillan 2009 President, NAR
By: Dennis Norman
National Association of REALTORS(R) 2009 President, Charles McMillansent an email to members stating “as a direct result of my recent meetings with the New York Attorney General’s office, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac this week issued new guidance to all lenders on the
Continue reading… NAR’s President Charles McMillan’s meeting with NY AG re HVCC produces results
By Dennis Norman, on July 24th, 2009
Dennis Norman
According to Freddie Macs weekly mortgage market survey mortgage rates increased slightly this week from the prior week. The survey shows 30 year fixed rate mortgages averaging 5.20% with 0.7% in fees and points, up from 5.14% the week before. Last year at this time, the 30 year rate averaged 6.63%.
Rates on 15
Continue reading… Rates on fixed-rate mortgages increase this week
By Dennis Norman, on July 8th, 2009
Dennis Norman
By: Dennis Norman
Today as an unfortunate result of the downturn in the real estate market and economy, agents are hearing from past clients that are struggling to keep up with their mortgages and looking for help.
Many borrowers have heard of the Making Home Affordable Program and are interested in finding out if they qualify
Continue reading… Help for your clients needing loan modifications
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