2023 Conforming / High Balance / VA Loan Limits

  • September 14, 2022
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  • realestatelife

New 2023 conforming loan limits won’t be released until November … but we’re honoring them now for conventional loans locked, starting September 7th for FNMA, FHLMC, and VA. $715,000 for regular one-unit conventional / VA loans (increased from $647,200) $1,073,000 for regular one-unit conventional / VA loans in high-cost counties and in AK and HI (increased

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Market Update | 10-05-22

  • October 5, 2022
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  • realestatelife

Jobs, Jobs, Jobs: September ADP Employment Change was a little stronger than expected (208K vs. est. of 200K). Annual Pay rose by 7.8% for “job stayers” and up 15.7% for “job changers” Taking it to the House: Weekly Mortgage Applications tanked by -14.2%. Refinance Applications fell by -17.8% and Purchase Applications declined by -12.6% Trade

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Financial Hacks for Homebuyers

  • September 16, 2022
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  • realestatelife

When you’re buying a house, sorting out funding is often more challenging than finding the perfect home. From saving for a down payment to securing financing to managing your obligation long-term, there’s a lot of decision-making to be done. To kick off your research, here are some outside-the-box ideas from Your Real Estate Life /

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Fed’s Beige Book offers grim news for housing industry

  • September 15, 2022
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  • realestatelife

The economic standoff between rising inflation and rising interest rates continues to weaken the housing market nationwide, with home sales falling across all 12 Federal Reserve districts, according to the Fed’s latest Beige Book report. Prospects for future improvement anytime soon are dim as well. “The outlook for future economic growth remained generally weak, with … expectations

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US job growth moderates in August with 315,000 added while unemployment edges higher Unemployment rate unexpectedly rises to 3.7%, Labor Department says

  • September 2, 2022
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  • realestatelife

U.S. job growth moderated in August from a torrid pace the previous month, but hiring remained solid despite growing headwinds from higher interest rates, scorching-hot inflation and mounting recession fears. Employers added 315,000 jobs in August, the Labor Department said in its monthly payroll report released Friday, in line with the 300,000 jobs forecast by Refinitiv

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Fed officials anticipate ‘significant’ interest rate hikes until inflation eases, minutes show

  • August 17, 2022
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  • realestatelife

Federal Reserve officials indicated at their July meeting that additional interest rate hikes are necessary in the coming months until policymakers see evidence that inflation has cooled “considerably.” Minutes from the U.S. central bank’s July 26-27 meeting released on Wednesday show that policymakers reiterated the need to raise interest rates to a level that brings

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Inflation climbed 8.5% in July as prices cool but remain near record high

  • August 10, 2022
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  • realestatelife

The Labor Department said Wednesday that the consumer price index rose 8.5% in July from a year ago, below the 9.1% year-over-year surge recorded in June.

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US economy adds 528,000 jobs in July, surging past expectations

  • August 5, 2022
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  • realestatelife

U.S. job growth unexpectedly accelerated in July, defying fears of a slowdown in hiring even as the labor market confronts the twin threats of scorching-hot inflation and rising interest rates. Employers added 528,000 jobs in July, the Labor Department said in its monthly payroll report released Friday, blowing past the 250,000 jobs forecast by Refinitiv economists.

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Fed raises interest rates by 75 basis points in historic move to battle inflation

  • July 27, 2022
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  • realestatelife

The Federal Reserve on Wednesday raised its benchmark interest rate by 75 basis points for the second straight month as it tries to bring scorching-hot inflation under control, a move that threatens to slow U.S. economic growth and exacerbate financial pressure on Americans. The three-quarter percentage point hikes in June and July – the first

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June retail sales climb more than expected as Americans confront searing-hot inflation

  • July 15, 2022
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  • realestatelife

Americans ramped up their spending at retail stores in June, a sign that consumers are still opening their wallets even as inflation persists at a 40-year high. Retail sales, a measure of how much consumers spent on a number of everyday goods, including cars, food and gasoline, rose 1% in June from the prior month,

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