The Smart Team of NOVA® Home Loans

Freddie's $1.3 bln Risk Transfer; Lenders' New Channels and Products

Posted To: Pipeline Press

Want a good statistic to demonstrate how tight the housing market is? 57% of all realtors have been involved in a sale with at least 10 offers on a single property in the past year . In fact, only 2% have not experienced a bidding war in the last year. In many areas Baby Boomers aren’t moving, being perfectly happy where they are. The move-up buyer can’t find (or afford) a better place so they are staying put, and we all know what that does to first-time home buyers. Of course, a certain percentage of those are all-cash buyers. That’s only part of the problem: appearing before the House Financial Services subcommittee, Dave Motley, president of the Colonial Savings FA, said increased federal regulations and resulting constricted availability of credit in recent years have affected the ability…(read more)

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Source: Mortgage News Daily

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