Mortgage Blog

Easier mortgage means good news for Spring 2014 home buyers

February 13th, 2014 3:00 PM by Michael and Jill Kohler

1. Easier to get a purchase mortgage in 2014

FHA mortgages with low money down will be a key driver for the first time home buyer.  They will be easier to obtain to offset a decline in refinancing.

Higher mortgage rates and higher prices in 2014

Buying will remain cheaper than renting. (til rates hit above 5.25%)

2.  Real Estate Market less frenzy

More listings equals inventory in 2014 which is great for buyers. Also fewer investors since prices have risen higher.

A fed cut on bond buying will make rates rise. (when economy strengthens)

3.  Repeat buyers take center stage

Three types of buyers

  1. Investors
  2. First Time Home Buyer’s (saving for downpayment)
  3. Repeat buyers (many who are selling then buying)

To prequalify for a mortgage loan, 

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source: Trulia

Posted by Michael and Jill Kohler on February 13th, 2014 3:00 PM

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