Smart lenders are always looking beyond traditional financing solutions to find new ways to serve homebuyers. But right now, one of the biggest challenges buyers face is affordability. In fact, between rising home prices and soaring interest rates, it’s been a long time since low- and moderate-income families faced so much difficulty trying to buy […]
It’s often said that the secret to success is the ability to dig deep. Two years ago, many homebuyers of modest means could get home financing and make their dreams of homeownership a reality. Today, however, rising interest rates have slashed their numbers. In fact, the Mortgage Bankers Association (MBA) recently adjusted its mortgage forecast […]
Most independent mortgage bankers and credit unions understand how challenging it can be to help first-time homebuyers, especially when they're the first ones in their family trying to achieve homeownership. But it's particularly challenging when rates are elevated and there are fewer homes on the market. That’s why a growing number of IMBs and credit […]
Everyone’s path to homeownership looks different, but most people will encounter a few roadblocks along the way. That’s certainly more likely these days, as higher interest rates and low housing inventory are placing additional obstacles on the path to buying a home. Fortunately, Chenoa Fund, CBC Mortgage Agency’s down payment assistance program (DPA), is helping […]
Housing markets are always evolving, although today’s market looks starkly different than it did one year ago. Not only have interest rates roughly doubled over the past year, but housing prices are lower, too. In fact, 2023 could see the first year-over-year decline in prices since the Great Recession. As 2023 gets under way, many […]
With interest rates significantly higher than they were a year ago, many would-be homebuyers have put their homeownership dreams on hold. But in an otherwise challenging market, a bright spot has emerged. Over the past several months, housing prices have dropped considerably in many U.S. markets, enough to keep the American Dream of many first-time […]
The U.S. housing market hasn’t been too friendly to first-time homebuyers for some time. In fact, potential homebuyers have experienced a double whammy of sorts that has kept many of them on the sidelines. The first “whammy” was home prices, which rose to record levels in recent years. The second was interest rates, which have […]
There’s no doubt that today’s higher interest rates are making it harder for Americans to buy their first home. But even with rates increasing, buying a home is still a better option than renting for many people. If you have FHA-eligible borrowers who are trying to decide whether buying a home today is the right […]
Let’s be honest—it’s a tough market for originators, especially with interest rates at their highest level in decades. But if you’re passionate about serving your customers—especially first-time homebuyers—now is not the time to throw in the towel. Yes, rates are higher and home inventories are tight in many markets. But many people still yearn to […]
