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Rocket launches program to lower first-year mortgage payments

Housing Wire

For Rocket Pro TPO, home sellers or real estate agents will be funding the program, similar to a buydown program rival United Wholesale Mortgage launched last month. UWM announced that its temporary rate buydowns – fueled by seller concessions – would reduce borrowers’ interest rates by up to 2% for the first two years of a mortgage.

Mortgages 393
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Will new products stop the bleeding for mortgage lenders? 

Housing Wire

Home prices have remained stubbornly high , and there’s tens of billions of dollars in homes for sale beyond the conventional loan limits set by Fannie Mae and Freddie Mac. in the second quarter from the first quarter to $135 billion, according to Inside Mortgage Finance estimates. .” Jumbo loan volume increased 3.1%

Mortgages 393
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New Study Finds Seller’s Market May Shift in 2021

Realty Biz

Mortgage rates are low … for now. Record-low mortgage rates have hovered below 3% for a 30-year fixed-rate mortgage since October 2020, which is good for buyers. Make the strongest above-ask offer you can make, cash if possible, and free of seller concessions or other contingencies.

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Proceeds vs Profit: How Much Will I Make Selling My House?

HomeLight

During the pandemic years, plunging interest rates were counter-balanced by rising home sales. Census Bureau and the Department of Housing and Urban Development (HUD), new home sales fell 16.6% Interest rates on 30-year fixed-rate mortgages reached their highest since April 2020. According to the U.S.

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When Is the Best Time to Buy a House in Colorado?

HomeLight

Colorado Springs The median sale price in Colorado Springs was $465,000 in February 2023 , with homes staying on the market for an average of 54 days, up 122.4% Last year saw seven months where homes sold for below the average sale price, with homes that sold in November selling for 13.47% below average. from February 2022.

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Onto the Next: What to Know Before Selling Your Recently Purchased Home

HomeLight

You could forfeit any chance at making a profit — or even face a loss on the sale. To help you navigate an earlier-than-expected home sale, we talked with a top real estate agent and some seasoned property investors to create this in-depth guide. As with any home sale, you’ll have to cough up some costs. Overlap costs (1% – 2%).