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RATES: WORD ON THE STREET

Hopes for early 2024 interest rate cuts fade with January data releases"The housing market matters, if for no other reason than it's the primary source of U.S. household wealth, regardless of income or status.Mortgage rates remain the principal driver of housing...

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2024 CONFORMING LOAN LIMITS

Fannie Mae and Freddie Mac are restricted by law to purchasing single-family mortgages with origination balances below a specific amount, known as the “conforming loan limit” (CLL) value.  Loans above this limit are termed 'jumbo loans.' Effective for Mortgages...

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2023: THE WASHINGTON DC BUYER’S MARKET THAT WASN’T

DC Home Buyers Priced Out Of Market Created By The Fed The Fed giveth and the Fed taketh away. Data tells us that the 2023 Washington DC real estate market offered a rare easing of conditions for home buyers due to rising interest rates, but few benefitted because of...

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FHA AND ACCESSORY DWELLING INCOME

The U.S. Department of Housing and Urban Development (HUD) and Federal Housing Administration (FHA) rolled out a new policy in late October expanding accessing to FHA mortgage financing for homes that include Accessory Dwelling Units (ADU). Lenders may now consider...

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NOVEMBER MARKET UPDATE

Latest Data | 2023 in the District of Columbia: Oct. 2023 Sold Dollar Volume was $402,129,235, a decline of -13.09% from Oct. 2022’s $462,697,001; Oct. 2023 Median Sold Price was $678,500, up 4.38% from October 2022; Avg Days on Market (DOM) in October was 30 Days, up...

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FED SKIPS IN NOVEMBER | FUNDS RATE UNCHANGED

Fed Chair Jerome Powell announced at 2PM today that rates would not increase this month. Per the FOMC statement: "Recent indicators suggest that economic activity expanded at a strong pace in the third quarter. Job gains have moderated since earlier in the year but...

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GENERATIONAL HOMEBUYING TRENDS IN 2023

Breaking down the home buying market by generation Baby Boomers now represent 39% of American home buyers, according to an NAR study, an increase from 29% in 2022, overtaking Millennials. Home equity, long credit histories, nest eggs and experience in the housing...

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DC FIRST TIME HOMEBUYER TIPS | WHAT TO BUY

Is finding a home you love in a neighborhood you love, with a short commute and good investment value impossible?  Nah. What may seem like a daunting task can be achievable by following a few guidelines and breaking the process down into simple steps: Hire a real...

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ANOTHER FED RATE HIKE, DOOR OPEN TO ONE MORE

Following today’s FOMC meeting, Fed Chair Jerome Powell announced another key interest rate increase in spite of the recent pullback in inflation. The Federal Reserve raised the benchmark rate by .25% and hinted that yet another hike may occur in 2023. The federal...

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