Hakes Realty Group

12/10/2025

Time to Buy!

11/11/2025

Mortgage Rates Edge Higher But Remain in November Range. Mortgage rates went into the weekend with a small cushion thanks to movement in the bond market on Friday. Specifically, bonds improved after mortgage rates came out for the day. If the improvement had been sharper, mortgage lenders likely would have made a mid-day adjustment to slightly lower levels. The... More here -

Mortgage rates went into the weekend with a small cushion thanks to movement in the bond market on Friday. Specifically, bonds improved after mortgage rates came out for the day. If the improvement had been sharper, mortgage lenders likely would have made a mid-day adjustment to slightly lower level...

11/06/2025

Yes! — According to a recent article from HousingWire, Fannie Mae is removing the explicit minimum credit score requirement of 620 for loans underwritten via its Desktop Underwriter (DU) system.

Here are the key takeaways:

The article states that effective November 16, 2025, for new loan casefiles created on or after that date, the 620 minimum “representative or average median credit score” requirement will be removed for DU-submitted loans.

Instead of a fixed minimum score, DU will rely on its internal risk-assessment model to determine eligibility.

This update applies to Fannie Mae’s DU platform; nature of how other programs (manually-underwritten, other delivery channels, or via Freddie Mac) are treated may differ.

The article quotes industry commentary expressing both opportunity (for borrowers with thinner credit files) and concern (about transparency, consistency, and risk) associated with the change.

Send a message to learn more

10/23/2025

Mortgage rates were perfectly unchanged today, on average.  With that, they remain in line with the lowest levels in more than a year and very close to the lowest levels in more than 3 years.  Recent momentum has been moderate and favorable. In the absence of big economic reports t...

10/10/2025

DFW home pricing is staying stabilized so far on 2025. We anticipate prices to increase if mortgage rates drop in Q1 2026.

So, now is the time to buy!! Call Steve at (817) 925-2546 for help.

09/17/2025

🚨 Fed Cuts Rates — What It Really Means for Your Mortgage 🚨

The Fed just cut its benchmark rate from ~4.25% → ~4.00%. But here’s the key: mortgage rates don’t move in lockstep with Fed moves.

Here’s the breakdown:
✅ What the Fed cut does

Signals lower borrowing costs and a softer economic outlook

Pushes short-term rates (like ARMs) lower, more directly

Can indirectly ease fixed-rate mortgages if bond yields drop

❌ What it doesn’t

It doesn’t instantly slash 30-yr fixed rates

It won’t lower your already locked-in mortgage

Inflation or global market shifts could still push rates higher

📉 What we’re seeing now

30-yr fixed rates: ~6.13% (down slightly)

15-yr fixed: also ticking lower

Mortgage/refi applications are up as buyers look to lock in savings

💡 Bottom line: Even a small dip can save you hundreds per month on a 15- or 30-yr loan. If you’re buying or refinancing, this is a more favorable environment than we’ve seen in a while.

👋 A lot of friends have been asking me how this could impact their situation. If you’re curious what these changes look like for your home price, area, or credit score, just reach out. I’m always happy to run the numbers and give you straight answers.

📞 Dana at Uptown Funding — 214-305-6955 x104 — is also a great resource if you want to talk specifics.

08/20/2025

Slow, Steady, Modest Improvement. Slow, Steady, Modest Improvement



Bonds are in the throes of the summertime... More here -

Slow, Steady, Modest Improvement Bonds are in the throes of the summertime "blahs." In other words, excitement and high-conviction trading are in short supply. Instead, prices and yields are drifting in a broadly sideways path with minimal day to day movement. Motivations are non-existent....

03/19/2025

Here's What Changed in The New Fed Announcement. Recent indicators suggest that economic activity has continued to expand at a solid pace. The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid. Inflation remains somewhat elevated. The Committee seeks to achieve maximum employment and inflation at the... More here -

Recent indicators suggest that economic activity has continued to expand at a solid pace. The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid. Inflation remains somewhat elevated. The Committee seeks to achieve maximum employment and inflati...

03/11/2025

I thought this might be an interesting article for those of you who are watching the Real Estate Market.

Texas home sales, prices saw little change in 2024
AUSTIN – Texas home sales and prices remained steady in 2024, with small overall increases, according to the Texas REALTORS' 2024 Texas Real Estate Year in Review report. The number of listings and average days on the market increased significantly, giving buyers in many markets more properties to consider.
The number of homes sold was up in 14 markets and down in 12. Differences were generally modest in both directions. The highest gain was 4.3 percent in the Lubbock metro area, while the greatest decline was 6.8 percent in Beaumont-Port Arthur. Statewide, there was a marginal increase (0.7 percent) in home sales.
The statewide median home price increased 1.2 percent, with 20 markets up, four markets down, and two flat. The highest gain was in Odessa (up 11 percent), while the largest dip was in Austin-Round Rock-San Marcos (down 2.2 percent). Homes in Austin-Round Rock-San Marcos were still the most expensive in the state, with a median price of $440,000. The lowest median home price was $195,000 in Wichita Falls.
The median price per square foot of Texas homes also increased slightly (0.7 percent), with increases in 22 markets and decreases in four. While the median price per square foot of Texas homes did not increase much overall in 2024, it is up 50.9 percent since 2017.
Months of inventory was 4.1 statewide, an increase from 3.4 in 2023. Four to five months of inventory generally indicates a market balanced between supply and demand, according to analysts at the Texas Real Estate Research Center. Every market saw a rise in months of inventory, except Victoria (unchanged) and Odessa (down 0.3 percent).
More homes were on the market at the end of 2024 than at the same time the previous year, with a statewide increase of 30.5 percent in active listings. All markets except Odessa saw increases.
(Texas REALTORS)

03/11/2025

I thought this might be an interesting article for those of you who are watching Real Estate.
Texas home sales, prices saw little change in 2024
AUSTIN – Texas home sales and prices remained steady in 2024, with small overall increases, according to the Texas REALTORS' 2024 Texas Real Estate Year in Review report. The number of listings and average days on the market increased significantly, giving buyers in many markets more properties to consider.
The number of homes sold was up in 14 markets and down in 12. Differences were generally modest in both directions. The highest gain was 4.3 percent in the Lubbock metro area, while the greatest decline was 6.8 percent in Beaumont-Port Arthur. Statewide, there was a marginal increase (0.7 percent) in home sales.
The statewide median home price increased 1.2 percent, with 20 markets up, four markets down, and two flat. The highest gain was in Odessa (up 11 percent), while the largest dip was in Austin-Round Rock-San Marcos (down 2.2 percent). Homes in Austin-Round Rock-San Marcos were still the most expensive in the state, with a median price of $440,000. The lowest median home price was $195,000 in Wichita Falls.
The median price per square foot of Texas homes also increased slightly (0.7 percent), with increases in 22 markets and decreases in four. While the median price per square foot of Texas homes did not increase much overall in 2024, it is up 50.9 percent since 2017.
Months of inventory was 4.1 statewide, an increase from 3.4 in 2023. Four to five months of inventory generally indicates a market balanced between supply and demand, according to analysts at the Texas Real Estate Research Center. Every market saw a rise in months of inventory, except Victoria (unchanged) and Odessa (down 0.3 percent).
More homes were on the market at the end of 2024 than at the same time the previous year, with a statewide increase of 30.5 percent in active listings. All markets except Odessa saw increases.
(Texas REALTORS)