by Susan Isaacs | Dec 14, 2022 | Archived Blog
FED RAISES RATES FOR 7TH TIME FOLLOWING FOMC MEETING The Fed announced a final 2022 interest rate hike of 50 bps this afternoon, lifting terminal rate projection to 5.1%. The increase is expected to impact the economy by driving up rates for some mortgage loans,...
by Susan Isaacs | Dec 13, 2022 | Archived Blog
CPI REPORT | LATEST DATA CPI increased 7.1% from 2021, according to the Labor Department this morning. Economists surveyed by Dow Jones expected a 0.3% monthly increase and 7.3% 12-month rate, per CNBC.”]November Consumer Price Index (CPI) rose just 0.1% from...
by Susan Isaacs | Dec 7, 2022 | Archived Blog
Fed-Induced Recession Indicated For 2023 NY Fed’s Recession Probability Model is warning of incoming downturn, with odds at 38% but the indicator’s reliability is so solid, analysts are saying it equals a near-100% chance of a recession. DataTrek’s...
by Susan Isaacs | Dec 3, 2022 | Archived Blog
FHA Mortgage Loan Limits Rise in 2023 Starting Jan. 1, 2023, the Department of Housing and Urban Development (HUD) is increasing FHA loan limits in 3,222 counties (12 counties will remain the same limits as set for 2022). In Washington DC, limits will exceed $1M....
by Susan Isaacs | Dec 1, 2022 | Archived Blog
Starting Dec. 21, 2022, home owners and buyers with FHA mortgages can purchase flood policies through private insurers Private insurance options become available for FHA mortgages. Standard home insurance policies do not protect against flooding, so homeowners must...
by Susan Isaacs | Nov 30, 2022 | Archived Blog
DC Conforming Loan Limits Top $1M2023 Conforming Loan Limits | DC Hits Historic High 2023 Conforming loan limits for Washington DC Single Unit $1,089,3002 Units $1,394,7753 Units $1,685,8504 Units $2,095,200 Mortgage giants Fannie Mae and Freddie Mac raised the limits...
by Susan Isaacs | Nov 20, 2022 | Archived Blog
Assumable Mortgages In DCObsolete or Market Advantage? Do you have a low rate assumable mortgage? If so, and you’re thinking about putting your DC home on the market, you could have an advantage over your competition. Assumable mortgages faded from memory when...
by Susan Isaacs | Nov 17, 2022 | Archived Blog
Adjustable Rate Mortgages In DCHedge against high interest rates, or future nightmare? As with any loan product, it’s key to understand the rates, terms and fine print before you sign on the dotted line, but ARMs are more complex than conventional loans. Our...
