The Spring shopping season is in full swing, but home buyers are struggling with high prices and fluctuating mortgage rates. In March, existing home sales dropped by 26% compared to pre-pandemic levels. This is due in part to many sellers being locked into their current low-rate mortgages.

Homeowners who …

Bright MLS April 2023 Mid-Atlantic Market Report

The housing market in the Mid-Atlantic region is currently facing a less certain future due to elevated mortgage rates and an economy that is slowing down. These challenges have resulted in a slower spring home buying season than normal, as per the …

This VERY controversial policy that the Federal Housing Finance Agency (FHFA) has been reversed. I posted this blog "Mortgage Changes Explained - Clearing up LLPAs and Their Impact on Credit Scores" back on April 29th explaining the changes that were going into effect as of May 1st. …

Housing News:

Purchase mortgage applications dropped 2% last week and were down 32% from a year ago. Tight inventory continues to hamper sales. We do not see this trend changing in our area until more homeowners decide to sell their current homes. Since many homeowners were able to buy, …

Over the weekend, Silicon Valley Bank and Signature Bank, the second and third-largest banks to ever fail, experienced a bank run, leading to their failures. While both banks are large, they are not deeply interconnected with the market, which is a relief for regulators. However, the failure posed a risk …