James McCann Mortgages

06/24/2022

We could be on the verge of another housing bubble. However, Senior Economist, Jeff Tucker, does not believe a housing bubble is likely to occur. He is concerned that such talks could impact future home buyers and new home builders.

Zillow Senior Economist Jeff Tucker is skeptical that a housing bubble is looming, but he worries such talk could hurt future buyers.

06/22/2022

Future housing demand appears to be influenced by birth rates. Jobs lost and business closures resulted in 62,000 "missing births" in the U.S. from January to May 2020. #️⃣ReboundingBirthRates

Birth rates have an impact on future housing demand. Find out what the latest rates may suggest.

06/20/2022

With mortgage rates on the rise and earnings falling behind home price increases, is it a good time to buy a house right now? Learn more about home affordability in this interesting read!

Nationally, housing affordability declined in March 2022 compared to February, with the monthly mortgage payment increasing by 9.7% while the median family income increased by 1.1%.

06/17/2022

The government is now leading the effort to put affordability at the top of the national economic agenda. Their five-year plan aims to ease housing costs and close the gap in the supply shortage. Read on below!

The plan focuses on the federally funded construction of hundreds of thousands of affordable units and the loosening of restrictive zoning.

06/15/2022

Home sales are expected to drop 7.4% this year and 9.7% in 2023, according to experts at Fannie Mae. Now is the time to sell! #️⃣HomebuyerSentiment

A record low 19 percent of Americans say it's a good time to buy a home, according to a monthly survey Fannie Mae's been conducting since 2010.

06/13/2022

See what Senior Economist and Director of Forecasting, Nadia Evangelou at the National Association of Realtors has to say about the mortgage rates today. ⬇️

After last week's surge, the 30-year fixed mortgage rate rose slightly to 5.30% from 5.27% the previous week. Unyielding inflation and the Fed's tightening policy seem to be the main drivers of today's mortgage rates.

06/10/2022

Mortgage rates may have an impact on the housing market's potential, bringing much-needed stability to the market. Are we returning to a not-so-new normal? Find out here!

First American Chief Economist Mark Fleming shares his proprietary Potential Home Sales Model, analyzing the housing market's performance against its potential.

06/09/2022

As a means of coping, ARM loans are coming back due to the rapid increase in mortgage rates. According to the MBA survey, ARM loans accounted for 9% of mortgage loan applications in the previous weeks.

ARM loans accounted for 17 percent of mortgage applications by dollar volume, with the average borrower seeking a $728,900 loan.

06/08/2022

Buyers could have more time to secure mortgages now. They will have a 30-day exclusive period to bid on foreclosed houses before investors. Continue reading to see the full details! #️⃣GoingOnceGoingTwiceSOLD

Buyers will get 30 days to bid on foreclosed properties ahead of investors.

06/07/2022

There's no denying that home prices and mortgage rates are at all-time highs. Borrowers are choosing adjustable-rate mortgages (ARM) or paying "points" to lower their interest rates. This article explains more!

If mortgage rates rise another half a percentage point, or if home prices go up 5 percent, affordability will hit the worst levels on record.

06/06/2022

Lumber prices have dropped below $800 per thousand feet this year, and are down 30% year to date. Is this a time for homeowners renovate or investors to flip...?

New-home buyers may not want to celebrate quite yet.

06/03/2022

58% of adults say they are willing to take steps to find more affordable housing. Consumers may have the option to push the boundaries of where they choose to live as the prominence of remote work grows. Buyers get in touch!