After seeing the movie and getting a spam voicemail market update from a lender (that was a first; the phone never even rang), I was prompted to blog about these tidbits:
- Did you know that for every 8 applicants for home loans, 1 does not get approved? That proves the importance of getting pre-approved prior to house hunting.
- Mortgage Rates saw a small decrease the week of Feb. 6th-11th and the stock market is showing signs of stalling. In speaking with my Degalis Advisor about my SEP, I asked if I should get out of Bonds. His advice was that we are due for a correction, so keep the Bonds for now.
- The MCA index (which stands for “mortgage credit availability”) increased for the 5th month, which means we have looser mortgage standards. This has been needed because of strict regulations after the crash (we went from one extreme to another), but it still makes me nervous after re-watching The Big Short.
- The 2017 year in real estate has been coined as “Modernization” and we should see a continued strong pace of growth and above average appreciation.
- The West will lead the way in appreciation at 5.5 percent, compared to 4.5 percent nationwide.