Home Ownership

NATIONAL NEWS UPDATE

More homebuyers are appearing as we move into the hot spring selling season. Demand for purchase mortgages rose for the second week in a row—up 7.1% for the week, according to the Mortgage Bankers Association. Good news for buyers. Realtor.com reports the median listing price last week came in lower than it did in the same period a year ago. That marked the first week of year-over-year price...

A Overview of this week

This past week, home loan rates improved to their lowest levels in a month in response to the closures of Silicon Valley Bank (SVB) and Signature Bank. Let's walk through what happened as we approach the Fed Meeting next week. "Bringin' on the heartache, Can't you see?, Can't you see?" Bringin' on the Heartbreak? Def Leppard. SVB Failure and Rates It's important to remember that bonds enjoy bad news,...

LOCAL AND NATIONAL MARKET TRENDS

This is from one of lenders I work with, Chris Maxwell from Bank of Albuquerque.   You can reach him at: 505-804-3191/cmaxwell@bankofalbuquerque.com National Real Estate News Bottoming out Existing home sales for January 2023 fell (a very modest) 0.7% MoM to an annualized pace of 4,000,000 units. That was the 12th straight month of decline. But look at the chart: it's bottoming. Existing home...

Cooldown Continues But Future Looks Brighter

This is from New Mexico Association of Realtors for December 2022 Key Highlights • The median sale price increased by 4.24 percent compared to last year. • Home sellers are less active this month 11.63 percent fewer homes being listed. • Sales for the month were down 32.68 percent compared to last year. • Homes are spending 48 days on market, which is three days longer than last year but...

Good Debt vs Bad Debt, What is the Difference?

Some forms of debt can help improve your financial situation in the long run, while others may not be the best investment. “Debt” is a scary word for many of us. If you are “in debt,” it means you owe something (typically money) to someone else, and that’s usually not a great feeling. Did you know that some debt is considered “good debt,” though? Not all debt is bad – especially not...

Dave Stevens on understanding this housing market

Dave Stevens on understanding this housing market 5 things loan originators need to remember December 5, 2022, 9:51 am By David Stevens, CMB I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. And while my more recent roles were more senior in stature, my mind tends to think like I did when I was a top loan originator in Denver back in...

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Mary Cockburn - 5 Star Real Estate Agent serving Edgewood, Albuquerque, & East Mountain