Due to the rise in home values during this period, the FHFA has announced an increase in the maximum baseline conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac for 2025. Each year, the U.S. Department of Housing and Urban Development (HUD) Federal Housing Administration (FHA) updates its annual loan limits. These […]
Join Boulder’s premier real estate event: The 17th annual Boulder Valley Real Estate Conference
The Boulder Valley Real Estate Conference brings together key players from the local real estate industry, though anyone interested in Boulder Valley’s real estate market and trends is encouraged to attend. BOULDER – The 17th Annual Boulder Valley Real Estate Conference is set for November 21, 2024, from 8:25 a.m. to 4:00 p.m. at Boulder’s […]
Buying or refinancing soon? Check your credit!
When interest rates decline, you might question whether refinancing is worthwhile. Springtime is almost always the strongest real estate season in Colorado. After the winter storms and cold temperatures, people are ready to get out, buy houses, sell houses and enjoy being more active. However, in the spring of 2024, prices were still rising, interest […]
I hear interest rates are dropping! Should I refinance?
When interest rates decline, you might question whether refinancing is worthwhile. It could be a good idea to check your current home interest rate and determine if refinancing might be beneficial. According to Freddie Mac, the average interest rate peaked at 7.79% in October 2023, but as of August 2024, it has decreased to 6.46%. […]
Alternative financing when mortgage rates are too high for comfort
As mortgage rates rise, it isn’t quite as easy to come up with alternative financing ideas as in “the olden days”! However, there are a few alternatives that are still out there. When interest rates on mortgage loans climbed to historic levels in the 1980s, it was very hard for the consumer to secure a […]
Options for financing when interest rates go up
The most popular mortgage loan evolved into what is the 30-year amortized loan, which has become one of the primary reasons for increasing the level of homeownership in the United States. Amortizing means some of the principal of the loan amount is paid off each month, allowing homeowners to build equity and avoid a large […]
Do falling home prices offset higher interest rates?
Now that interest rates have risen from the 3.5% range to the 7% range, will home prices decline to balance out the purchasing power? Looking at historical evidence, it shows that sharply rising mortgage rates tend to slow home price appreciation and affect housing market activity. However, nominal price appreciation in most of Colorado remains […]
Rising interest rates decrease purchasing power
In general, as interest rates rise, the homebuyer loses about 3% of purchasing power for every .25% in interest rate increase. Today’s market is tough on first time buyers. The inventory of homes and condos purchased by first-time buyers continues to be low, and along with inflation, home prices are being pushed upward in […]