Entries by Lindsay

FHA raises loan limit by nearly $25,000 for 2021

Given massive year-over-year gains in home prices, the Federal Housing Administration (FHA) is increasing its 2021 loan limit in most of the U.S. to $356,362, an increase of nearly $25,000 over 2020’s loan limit of $331,760. That loan limit figure is determined as a percentage of the national conforming loan limit for Fannie Mae and Freddie Mac, which is increasing in 2021 […]

How 2020 raised the stakes for the mortgage industry

Prior to 2020, the mantra around the mortgage industry going back to 2016 was that launching a new “digital experience” was the equivalent to table stakes in poker. If you wanted to do business with millennials, the emerging core of the home buying customer base, at a bare minimum engaging the consumer in a mobile-friendly, […]

Why are sellers sitting on the housing market sidelines?

For-sale inventory is at record lows. According to the latest Census data, there’s just a 3.6-month supply of homes nationally — the third-lowest figure on record. Construction is starting to pick up, so that should help alleviate things in the housing market. But existing homes? Those are another story. It begs the question: why aren’t […]

The housing market outlook for 2021

There is no place like home. The nature of the crisis this year has emphasized that fact. Even though we love our family members, we all need our space. We expect housing demand and the housing market to remain quite strong in 2021 for those fortunate enough to work in industries that are currently shielded from […]

Holiday week sees drop in mortgage applications

The Mortgage Bankers Association reported that applications dropped 0.6% during the week ending Nov. 27 in its latest weekly survey. The refinance index decreased as well, down 5% from the previous week but up 102% over last year’s totals from the same week. The seasonally adjusted purchase index did increase – up 9% from one […]