It was an eventful week in the mortgage industry. Top 3……
#1- The top news was the anticipated raise to the benchmark
interest rate by the Federal Reserve.
The Federal Open Market Committee voted 10-0 to make the move. The forecast for 2016 is four different rate
hikes throughout the year.
#2- In other news, FHA increased the maximum loan limits in
different counties across the state. FHA
is a great loan that allows home buyers to have a minimal down payment to get
into a home, by increasing the loan limits, home buyers can actually qualify
for a larger loan amount.
#3- New building permits surged in November, turning around
the decline in new building permits in October.
This means that builders are still feeling confident in the
economy.
The first of the year is going to be a great time to get
into a house. A pre-qualified mortgage
letter from your lender is a great way to leverage your negotiation power when putting an offer on a new home.
I would love to
be that lender for you… and if you need a realtor that can really work that
deal for you….. I’ve got a great Real Estate Agent for you. Give me a call…. Let’s get you all set up for
success in 2016! Sheri Joi, e mail sherijoi1972 at gmail dot com
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