According to Zillow.com, the majority of metropolitan areas surveyed are showing continued annual home value appreciation. For the 12 month period from August 2013 to 2014, it is estimated that prices will rise another 5.2% to an approximate median price of $170,500.
Are We Heading for 5% Mortgage Rates?
This past week it was expected that the Fed would announce a tapering of purchases of mortgage-backed securities. This influenced recent mortgage rate increases, but when that announcement didn’t come, rate increases have taken a breather. Rates are expected to begin rising again, and one analysts estimates a 5% rate by mid-2014.
Lenders Eyeing Sub-prime Loans Again
We can’t expect a return of “liar loans,” like the stated income loan, but there are expectations of sub-prime loans coming back on the scene. Interest-only loans are coming back already, as well as balloon-payment loans. With proof of income, zero-down-payment loans are also returning.
Home Prices are Still Rising - Quickly
According to Zillow.com, the majority of metropolitan areas surveyed are showing continued annual home value appreciation. For the 12 month period from August 2013 to 2014, it is estimated that prices will rise another 5.2% to an approximate median price of $170,500.
Are We Heading for 5% Mortgage Rates?
This past week it was expected that the Fed would announce a tapering of purchases of mortgage-backed securities. This influenced recent mortgage rate increases, but when that announcement didn’t come, rate increases have taken a breather. Rates are expected to begin rising again, and one analysts estimates a 5% rate by mid-2014.
Lenders Eyeing Sub-prime Loans Again
We can’t expect a return of “liar loans,” like the stated income loan, but there are expectations of sub-prime loans coming back on the scene. Interest-only loans are coming back already, as well as balloon-payment loans. With proof of income, zero-down-payment loans are also returning.