A new HOME mobile app that educates future homeowners about the steps and responsibilities of buying and owning a home was launched by Fannie Mae, to provide educational resources to reduce barriers to homeownership.
The app offers useful tools to help homebuyers to:
Figure out what they can afford,
Understand their mortgage payments,
Save for a down payment, and,
Learn how much they can save in interest by making extra mortgage payments.
If you are a First Time Buyer, Call me Sandy Flores (714)963-7462!
U.S. house prices rose in January, up 0.3 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI). The previously reported 0.8 percent change in December was revised downward to a 0.7 percent change.
The FHFA HPI is calculated using home sales price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac. From January 2014 to January 2015, house prices were up 5.1 percent. The U.S. index is 3.5 percent below its March 2007 peak and is roughly the same as the December 2005 index level.
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 1.2% to a seasonally adjusted annual rate of 4.88 million in February from 4.82 million in January. Sales are 4.7% higher than a year ago and above year-over-year totals for the fifth consecutive month.
While the average improvement of 0.10% might not look like much at face value, it’s the biggest one-day drop we’ve had in 2015, and in a league with very few other players historically.
With today’s improvement, the most prevalently-quoted conventional 30yr fixed loan for top tier borrowers falls back to 3.75%. Some lenders will remain at 3.875% today, but many feel that those lenders held back from passing on the full effect of the market movement not an uncommon occurrence after a volatile swing like today’s.