Mortgage rates inched lower again this week, lowering the cost of borrowing and increasing the affordability of housing. According to Freddie Mac, national 30 year mortgages averaged 3.87% last week, down slightly from the prior reading of 3.98%. A year ago the same rate was averaging 4.81%. Feel free to contact us for a list… Read More
The Federal government has just reached a $25 billion settlement with 5 large banks over the handling of foreclosures during the housing boom and subsequent bust. The settlement covers borrowers who have loans with Ally/GMAC, Bank of America, Citi, JP Morgan, and Wells Fargo. If your loan is with anyone else, today’s settlement has no… Read More
A DISD Board of Trustees committee has recommended that 11 low-capacity DISD schools be consolidated (i.e., closed) to save the district money. A final public hearing as to whether those schools should be closed will be held this afternoon at 4:30 p.m. at the DISD Administration Building located at 3700 Ross Avenue. Two of those… Read More
Are you craving a dose of modern architecture? Then you should check out the Dallas Modern Home Tour this Saturday, January 28th! Enjoy a self-driving tour of 12 modern homes across Dallas. Purchase tickets and find out more information here.
If watering your lawn has been “business as usual” for the past month you could be risking a hefty fine. That’s right, for the past month Dallas has been under a mandatory, Stage 1 water restriction that allows the city to impose fines ranging from $250-$2,000 on residents that repeatedly fail to follow the strict… Read More
The Federal Reserve has called on policy makers to do more to help the housing market. In a recently released white paper, the Fed told lawmakers that aggressive action is needed in order to prevent home values from falling further. One suggestion included renting out foreclosed homes, which it anticipates would “deliver a better loss… Read More
Freddie Mac has eliminated its’ minimum credit score requirement for all borrowers wishing to refinance. Government sponsored Freddie Mac now requires that borrowers have a minimum of 20% equity in their homes while refinancing. The move is aimed at increasing refis and helping borrowers stay current on their mortgage.
It’s no secret that the housing market took a huge hit over the past several years. However, recent reports have surfaced indicating that the housing slump was even worse than initially reported – as in, 14.3% worse! Ouch. Apparently the discrepancy is due to flaws in the data analysis conducted by the National Association of… Read More
It looks like Lower Greenville is getting yet another boost, as the specialty grocer Trader Joe’s is opening a new location where the famed Arcadia Theater once stood. The new store is scheduled to open this fall – get excited!
The newly established Consumer Financial Protection Bureau (CFPB) has released two revised versions of the traditional HUD closing statement that parties receive shortly before closing. Both forms are five pages long and contain a cover sheet matching actual closing expenses more closely with the Good Faith Estimate (GFE). The revised forms and more information can… Read More