Don’t Wait to Purchase Your Dream Home
Mortgage rates have declined from the highs reached late last year. You may be wondering if you should wait for them to drop further before making a home purchase. Let us explain why it may be more beneficial to act now instead. We recently received December’s Pending Home Sales data, which measures signed contracts on […]
An Increase to the Conforming Loan Limit for 2023
The Federal Housing Finance Agency (FHFA) has announced an increase to the conforming loan limits for 2023. The new loan limit for a one-unit property will now be $726,200, up from $647,200 in 2022. In high balance counties the loan limit may even be higher. For example, Pierce, King, and Snohomish county limits are up […]
Could There Be an Opportunity Brewing in Real Estate?
Source MSB HIGHWAY Last year, the real estate market was so hot that many buyers had to pay over asking price and struggled to get favorable terms. But today’s housing market is allowing buyers more room for negotiation and discounts. This sets the stage for a potential opportunity. There are signs that inflation is beginning […]
Rescue Your Rate with a Temporary Buydown
Source MSB HIGHWAY During the past couple of years, the housing market has been red hot and buyers often had to pay well above the asking price to have their offer accepted. Additionally, the transaction was all on the seller’s terms. And while the housing market is still strong today, it has cooled off, giving […]
What the Recent Fed Hike Could Mean for the Housing Market
Source MSB HIGHWAY Recently, the Fed hiked the Fed Funds Rate by another 0.75%. This was the fifth rate hike of the year and the Fed also projects hiking another 1.25% this year, which may mean another 0.75% hike in November and 0.5% in December. Remember, the Fed Funds Rate is the overnight borrowing rate […]
Investment Properties
Source MSB HIGHWAY Did you know that two-thirds of net worth comes from real estate? That’s according to Kiplinger. And owning your home is a great way to build wealth. But what about an investment property to rent out? About one in every six or seven purchases are for an investment property. So how can […]
Home Inventory Explained
Source MSB HIGHWAY Existing home inventory is up 22% from its lowest level in February. Many in the media are claiming that this rise in inventory will lead to a housing crash. But a deeper look shows that this build in inventory is a normal occurrence that happens every spring and summer. Families want their […]
Recent Fed Hike and Effect on Housing
Recently, the Fed hiked the Fed Funds Rate by 0.75%. This was the third rate hike of the year and the Fed also projects hiking another 1.75% over the four meetings that remain this year. Remember, the Fed Funds Rate is the overnight borrowing rate for banks and it is not the same as mortgage […]
Fairway Releases Cash Guarantee + Fairway Advantage Combo
Fairway Independent Mortgage Corporation understands the importance of being the most favorable deal on the table. In fact, Fairway is so confident that we will buy the seller’s home if we cannot close for a financing reason by the contracted date. If you haven’t already heard, the Fairway Cash Guarantee and Fairway Advantage Pre-Approval* combo […]
Fed Hikes and Mortgage Rates
Source: MSB Highway Recently, the Fed hiked the Fed Funds Rate by 0.5%. This was the second rate hike of the year, with the first being 0.25%. The Fed has also told us that we can expect two more 0.5% hikes by the end of July. Inflation has been rising, so the Fed is hiking […]
