Realty Biz

NOVEMBER 24, 2022

The vast majority of newly constructed homes are now in an HOA, and in general, just over half of homeowners live in an HOA community. If you not only live within an HOA but work for one that needs help managing its finances, consider opening an HOA checking account that can be used to pay for the frequent expenses that come up.

Industrial 94

Industrial Fixed-rate mortgage Banks Closing 94

Realty Biz

MARCH 30, 2023

Regardless, there are many things that first-time home buyers aren't aware of when it comes to getting a mortgage. We've put together a brief mortgage guide with the key information you need to know. Assess Your Finances As you might assume, a good place to begin is by assessing your finances. Let's take a closer look.

Mortgages 102

Mortgages Pre-approval Pre-qualification Due diligence 102

Toronto Realty Blog

JANUARY 11, 2024

It’s been at the back of my mind since the spring of 2022 when interest rates started increasing, but it’s not something that I think about every day. And not because the increased renewal rate isn’t a factor in my personal finances, but rather because there’s just nothing I can do about it.

Fixed-rate mortgage 73

Fixed-rate mortgage Banks Mortgages Construction 73

McKissock

MAY 30, 2023

Interest rates According to Freddie Mac, interest rates increased after a two-week decrease, with the average 30-year fixed-rate mortgage rising from 6.35% to 6.39% between May 11 and 18. As a potential recession looms, we may have reached the peak of this rate cycle, though rates are known for their volatility.

Banks 73

Banks Commercial Construction Fixed-rate mortgage 73

Marco Santarelli

NOVEMBER 1, 2023

The Federal Reserve's aggressive stance on interest rate hikes has raised concerns that a housing market recession akin to the 1980s could be in the making. The central bank has indicated that it will maintain elevated borrowing costs well into 2024 to combat inflation.

Marketing 52

Marketing Fixed-rate mortgage Construction Residential 52

Notorious ROB

MARCH 16, 2023

(which means the world) is undergoing a crisis in banking. As of this writing, three major regional banks have failed (Silvergate, Signature, and of course, Silicon Valley Bank), four others were at the verge of failing until “rescued” by the Feds, and one international giant is teetering (Credit Suisse).

Banks 72

Banks Finance Fixed-rate mortgage Loans 72

Marco Santarelli

OCTOBER 14, 2023

According to Freddie Mac's Primary Mortgage Market Survey (PMMS) , which tracks the average rates for 30-year fixed-rate mortgages since 1971 , mortgage rates have ranged from a record low of 2.65% in January 2021 to a record high of 18.63% in October 1981. to 8.6% , averaging around 6.2%

Debt-to-income ratio 74

Debt-to-income ratio Mortgages Fixed-rate mortgage Construction 74

Toronto Realty Blog

SEPTEMBER 8, 2022

But let’s leave interest rates off the list, even though the Bank of Canada increased the overnight lending rate by 0.75% on Wednesday, because we knew that was going to happen. I want to talk about three things: trigger rates, variable vs. fixed spread, and alternative lenders. in 2021: FSRA.

Marketing 91

Marketing Fixed-rate mortgage Banks Principal 91

Toronto Realty Blog

JANUARY 6, 2022

I mean, have you seen the “CAT Construction” trucks? Once upon a time, we saw a mortgage as a large liability. “I owe that much money to the bank,” we might think. Today, most of us, especially myself, see a mortgage as a payment plan. I was sent to get one toy, but left with six. Not a chance.

Fixed-rate mortgage 99

Fixed-rate mortgage Banks Mortgages As-is 99

The Close

DECEMBER 29, 2022

Construction loan. A short-term loan that covers the cost to build a property until the owner can secure long-term financing. It’s kind of like a fixed-rate mortgage and an adjustable-rate mortgage had a baby. But, unlike a traditional ARM, a borrower has the option to switch to a fixed-rate mortgage.

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98

Toronto Realty Blog

SEPTEMBER 7, 2023

Even if mortgage delinquencies doubled , we’d still only be back to 2019 levels. One of my investors was on a fixed-rate mortgage and his mortgage rate is going to skyrocket as of October 1st, so he sold the unit in the summer to avoid being significantly cash flow negative on the property.

Marketing 80

Marketing Land Development Banks 80

Marco Santarelli

AUGUST 5, 2020

Social-distancing requirements are also likely to hold construction back in the coming months. Under normal market conditions, prices would be expected to skyrocket as inventory declines at a faster rate, but buyer demand is expected to see-saw throughout 2020 as the second wave of coronavirus pandemic pop-ups in fall.

Marketing 145

Marketing Fixed-rate mortgage Sales Mortgages 145

HomeLight

AUGUST 31, 2021

That may be around the same or double what you’ll pay again in closing costs when you eventually get a mortgage on the house. You’re likely to run into appraisal problems , and no bank is going to sign off on a mortgage for more money than the house is actually worth. What if you can’t get financing?

Purchase and sale agreement 120

Purchase and sale agreement Due diligence Closing costs Mortgages 120

Toronto Realty Blog

APRIL 16, 2021

They need a 120-day closing so they can have their money in a Canadian bank account long enough to satisfy whatever rules are in place. They are likely buying in cash, but who knows, they might take a small mortgage because money is cheap. Fast-track residential construction projects? How much is that offer for?

Pre-qualification 65

Pre-qualification Development As-is Marketing 65

Marco Santarelli

AUGUST 2, 2020

About 1 percent of Redfin customers waived either a financing or inspection contingency last month. It seems they want to cash in on the opportunity to purchase their favorite properties amid a historically low-interest rate of 3.3 percent on a 30-year fixed-rate mortgage. percent in May, from 6.1 months to 5.4.

Marketing 142

Marketing Sales Pre-approval Investor 142

Toronto Realty Blog

DECEMBER 14, 2022

May 16th, 2022, I wrote, “How New Legislation Could Kill Condominium Construction” Only two days later, I followed up with a similar topic. ” And my #2 question was, “What will happen with interest rates?” “Blink and we’ll be there,” since rate hikes started on March 2nd.

Development 81

Development Purchase and sale agreement As-is Marketing 81