5 Things Every First-Time Home Buyer Needs to Know · Top 10 Things First-Time Home Buyers Need to Know. by Brianna Budny; June 23, 2017;. The U.S. Department of Housing and Urban Development defines a first-time home buyer as a person who has not owned a personal residence in three or more years. So, this could be someone who has never owned a home, or someone who has owned one in the past but.
· The Home Affordable Refinance Program (HARP) is a federal refinance program targeting underwater homeowners. First announced in March 2009, HARP is designed for homeowners who are current on their mortgage payments, but who haven’t been able to refinance because they have limited equity, no equity or negative equity in their homes.
Freddie Mac recently downgraded its forecast for the 30-year fixed-rate mortgage, projecting it will average 4.3% this year-below last year’s average of 4.5%. Further, Freddie economists predict only a small increase in rates in 2020, with the 30-year fixed-rate mortgage averaging 4.5% next year.
Mortgage Activity Will Be Crushed By Rising Rates -Freddie Mac. Following the Taper Talk rate increases, single-family refinance mortgage originations declined 54 percent from 2013 to 2014. This time around, Freddie Mac anticipates a decline of 53 percent from 2016 to 2017. total mortgage originations will equal $1.5 trillion in 2017, down from $1.7 trillion in the company’s October forecast.
To that same end, you may have had a change of heart and want a product change, say from an ARM to a fixed-rate mortgage. Perhaps you thought the 5/1 ARM was a good idea, then discovered you couldn’t sleep at night. Maybe the 30-year fixed is the only loan program for you.
7 Secrets About Bad Credit Home Loans | The Credit Agents The trial of Michael Dunn in Florida has again raised questions about Florida’s “Stand Your Ground” law. Dunn, 47, is charged with fatally shooting jordan davis, an unarmed 17-year-old, in the parking.
Mortgage rates are falling fast, and 30-year rates in the 2s may soon be here. Freddie Mac, in its weekly survey, reported that the 30-year fixed rate hit 3.48%, the lowest level since May 2013.
3/1 is a adjustable rate mortgage, the interest rate changes once per year after the first three years. 1/1 low monthly payments for the first year of your mortgage, and are willing to opt for mortgage rates that will adjust annually with the market for the duration of your term.
With the economy finally strong enough for the Fed to pursue its policy of steady interest-rate increases, Freddie Mac predicts that mortgage rates will keep heading upward
Opinions, estimates, forecasts and other views contained in this document are those of Freddie Mac’s Economic & Housing Research group, do not necessarily represent the views of Freddie Mac or its management, should not be construed as indicating Freddie Mac’s business prospects or expected results, and are subject to change without notice.