Mortgage Rates Higher
Though mortgage rates are still in a lower range than they were in December and entering the New Year, they edged higher this past week. It was a small movement, with most of the effect felt only in the closing costs. Which direction they move from here will be influenced greatly by coming actions of the Fed. Rates could be at a crossroads, with a risk that we may never back up and always look back on the last couple of years as an anomaly not to be repeated.
Lenders Liking Apartments Again
Throughout 2013, lenders exhibited an increasing appetite for apartment and multi-family loans. This trend is continuing, and even increasing a bit. More loans are being made on marginal properties in need of significant repairs. Competition among lenders is causing them to look at loans they wouldn’t have considered a couple of years ago. If you’re an investor eyeing the apartment market, now may be a great time to act if you need financing.
Last Year was Big for Cash Deals
Over at CNN Money, a short article tells us that sales of foreclosed homes accounted for 16.2% of all home sales last year, up from 14.5% in 2012. All-cash deals accounted for 29.1% of all home purchases. That’s up significantly from 19.4% in 2012. With more than a million properties still in the foreclosure pipeline, 2014 should see more of this cash buying pressure.
Mortgage Rates Higher
Though mortgage rates are still in a lower range than they were in December and entering the New Year, they edged higher this past week. It was a small movement, with most of the effect felt only in the closing costs. Which direction they move from here will be influenced greatly by coming actions of the Fed. Rates could be at a crossroads, with a risk that we may never back up and always look back on the last couple of years as an anomaly not to be repeated.
Lenders Liking Apartments Again
Throughout 2013, lenders exhibited an increasing appetite for apartment and multi-family loans. This trend is continuing, and even increasing a bit. More loans are being made on marginal properties in need of significant repairs. Competition among lenders is causing them to look at loans they wouldn’t have considered a couple of years ago. If you’re an investor eyeing the apartment market, now may be a great time to act if you need financing.
Last Year was Big for Cash Deals
Over at CNN Money, a short article tells us that sales of foreclosed homes accounted for 16.2% of all home sales last year, up from 14.5% in 2012. All-cash deals accounted for 29.1% of all home purchases. That’s up significantly from 19.4% in 2012. With more than a million properties still in the foreclosure pipeline, 2014 should see more of this cash buying pressure.