RATES: WORD ON THE STREET

The Word On The StreetHopes for early 2024 interest rate cuts fade with January data releases Reports vs Expectations “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....

2024 CONFORMING LOAN LIMITS

2024 CONFORMING LOAN LIMITS | MORTGAGES 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...

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...

FHA AND ACCESSORY DWELLING INCOME

NEW FHA GUIDELINES ACCEPT 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...

NOVEMBER MARKET UPDATE

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...

FED SKIPS IN NOVEMBER | FUNDS RATE UNCHANGED

POWELL ANNOUNCES NOVEMBER RATE SKIP, MAINTAINING FEDERAL FUNDS RATE 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...

GENERATIONAL HOMEBUYING TRENDS IN 2023

Who's Buying Homes in the U.S.?Breaking down the home buying market by generation In this time of high interest rates and low inventory, cash-flush Boomers have emerged as the market leaders. Baby Boomers now represent 39% of American home buyers, according to an NAR...

DC FIRST TIME HOMEBUYER TIPS | WHAT TO BUY

You're a first-time homebuyer in DCIs 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...