The 30-year fixed mortgage rate just hit 8% for the first time since 2000
6 months, 3 weeks ago
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*OFF MARKET LAKE JACKSON TX*
8 months, 2 weeks ago
**OFF MARKET**
*END BUYERS ONLY*
ASKING $193,500
Lake Jackson home 3bd/1bth All New and recently updated ; HVAC , Composite flooring in kitchen and hallways , Outside side doors , Interior updating such as paint, Stainless appliances & Granite countertops, Garage door opener. Great investment or starter property.
**Assigned Contract, End Buyers Only**
332 Rosewood St Lake Jackson TX
COMPS ;
•313 Redwood St $189,900
•330 Redwood St $231,600
•216 Redwood St $192,000
•207 Redwood St $193,000
•303 Redwood St $179,900
•206 Redwood St $182,000
•104 Redwood St $202,000
•219 Redwood St $191,000
Texas Medical Center’s new 37-acre research campus opens!
6 months, 3 weeks ago
Dear Primary Residence 2-4 Unit Buyers - House Hack Just got Better!
6 months, 3 weeks ago
https://www.mortgagenewsdaily.com/guest/community-10192023
Dear Primary Residence 2-4 Unit Buyers
https://www.mortgagenewsdaily.com/guest/community-10192023
This Conventional loan update got buried in Fannie Mae's other bulletins, and it's worth calling out. If you're not yet familiar with automated underwriting systems ( AUS ), all lenders submit your electronic loan file to AUS for a real-time decision (with rare exceptions). Human underwriters are required for final approval, so they come in later. DU is Desktop Underwriter, which is the main AUS for approving Conventional loan files. This update relates to new logic programmed into DU over the weekend of November 18th. There are a couple of updates, with the most notable directed to multi-unit home buyers purchasing a Primary residence. Whether using a standard Conventional loan or HomeReady (income caps), this update is split between two scenarios: 2 unit and 3-4 unit. For 2 unit purchases the required down payment relaxes from 15% to 5%. 3-4 unit purchase transactions get an even bigger gift. Previously requiring 25% down, these transactions only require 5% down. That is, 5% becomes the minimum down payment , standardized across all 2-4 unit owner-occupied purchase transactions. While that's specific to multi unit properties, there are plenty of programs that require 3% or less for 1 unit purchases (USDA, for one). Since this change was smothered in other bulletins, your preferred lender might not know about it but we've got your back. Here is the official announcement (PDF): DU Version 11.1 Nov Update
Fed Pauses Again!
6 months, 2 weeks ago
Nearly 7% of sellers posted price drops in October, Redfin says—well above the 3.6% average.
6 months, 1 week ago
"Housing market starts to crack as record number of sellers drop price in October | Fortune" https://fortune.com/2023/11/06/housing-market-record-number-sellers-cut-asking-price-october-redfin/amp/
Housing market starts to crack as record number of sellers drop price in October | Fortune
https://fortune.com/2023/11/06/housing-market-record-number-sellers-cut-asking-price-october-redfin/
Nearly 7% of sellers posted price drops in October, well above the 3.6% average.
One Of The Biggest 2-Day Drops in Rates in Decades
5 months ago
https://www.mortgagenewsdaily.com/markets/mortgage-rates-12142023
One Of The Biggest 2-Day Drops in Rates in Decades
https://www.mortgagenewsdaily.com/markets/mortgage-rates-12142023
Today's headline speaks for itself: one of the biggest 2-day drops in rates in decades. Simply put, over the past 48 hours, mortgage rates have moved lower by a larger amount than almost any other time in our records. There was a similar episode in November 2022 and only one other episode in March 2020 (which we don't really count as "real" due to the once-in-a-lifetime market dynamics in play at the onset of the pandemic). Before that, we don't have anything else remotely close going back to start of our intraday record-keeping in 2007. Does any of the above tell us anything important beyond conveying the notion that rates have fallen precipitously in the past 2 days? Not really. It's just "kinda cool." But here's a milestone that can only be claimed by the present rate rally: Rates have dropped more in this 45 day window than in any other 45 day window we've measured. Again, our records only go back to 2007. Based on Freddie Mac's weekly record keeping, it's unlikely that any 45 day window will match the drop seen in May 1980. Late 1981 is also still better than the modern record, but all 3 had several things in common. All 3 moves began with rates at the highest levels in a long time. All 3 followed a brutally quick surge to those highs. And all 3 played out as the financial market was contemplating a "pivot" in terms of inflation and the Fed's policy response. The pivot trade has dominated the market over the past 2 days and arguably had a lead-off that began in November. Whether or not it continues will depend on the data, but for now, the market is more willing to bet on the pivot unless countervailing data emerges.
Senior Housing Occupancy to Reach Pre-Pandemic Levels This Year
4 months ago
Duplex in North Houston available
4 months, 2 weeks ago
Currently cash flowing $2500/month. Total rent for both sides is $3000/month. Current landlord includes utilities that are roughly $500/month.
Mortgage Rates Decrease to lowest Level Since May of 2023
3 months, 4 weeks ago
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