In September, the Federal Reserve announced an interest rate cut, a move that many were anticipating to stimulate the economy. However, if you’ve been paying attention, you might have noticed that mortgage rates dropped before the Fed even made their official announcement. So why did this happen, and what does it mean for you as…
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Homebuyers in 2025 are in for exciting news—conforming loan limits are on the rise! Right now, the current maximum conforming loan limit is $726,200 in most areas, but by 2025, it’s expected to exceed $802,000. This means you’ll soon have the opportunity to qualify for a larger mortgage, allowing you to purchase a home that…
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In today’s competitive real estate market, many buyers are struggling to find affordable homes. With rising home prices and higher interest rates, it can feel nearly impossible to buy a home that doesn’t need significant repairs or updates. But recent changes to the FHA 203(k) loan program could provide some much-needed relief for new homebuyers.…
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For many homeowners, a mortgage is one of the biggest financial commitments they’ll make in their lifetime. It can feel daunting, especially when you see how long those 30-year loans stretch out. But what if I told you there’s a simple way to save thousands of dollars in interest and pay off your mortgage faster?…
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At Northeast Financial, we’re always looking for innovative ways to make your home-buying or selling experience more affordable and enjoyable. That’s why we’re excited to introduce our new SaveXchange program in partnership with NewZip. With SaveXchange, you can save up to 0.5% at closing when you use a SaveXchange realtor partner. Introducing SaveXchange: Your Path…
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Greetings, real estate investors! Are you looking to strategically expand your portfolio without the traditional income verification hurdles? If so, then look no further than DSCR (Debt Service Coverage Ratio) Loans. This financing option offers a powerful tool for experienced investors like yourself. DSCR loans allow you to qualify for financing based on the projected…
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For prospective homebuyers exploring the realm of condominium living, FHA-approved condos present a promising avenue towards homeownership. These properties, endorsed by the Federal Housing Administration (FHA), offer a blend of affordability, accessibility, and regulatory assurance that can make the home buying process smoother and more manageable. Understanding what FHA-approved condos entail and how to identify…
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Interest rates have a long and reliable history of reacting to the jobs report more than any other monthly economic data and the most recent example sent mortgage rates screaming higher at the fastest pace in over a year. Labor market strength = higher rates, all other things being equal, and Friday’s NFP or “nonfarm…
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So far, 2024 has been distinctly different from the end of 2023. November and December saw rates move lower at one of the fastest paces in decades. In contrast, January has delivered a fairly consistent uptrend with the average lender now at the highest levels in more than a month. Frustratingly, widespread media coverage suggested…
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Seemingly overnight, there is widespread media attention on the spread between mortgage rates and the 10yr Treasury yield. There shouldn’t be. Why are we talking about the 10yr Treasury yield if we’re focused on mortgages and housing? Simply put, the 10yr Treasury note is the most dominant benchmark (touchstone, bellwether, yard stick, etc) for all…
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