Conventional loan limits are increasing for 2023! According to the Federal Housing Finance Agency, the conforming loan limits will rise from this year’s limit of $647,200 to $726,200 for 2023! (and if you are a buyer in Alaska, Hawaii, Guam, the U.S. Virgin Islands or other high cost areas... that number is $1,089,300!) That means borrowers may be able to afford a higher priced home with a lower down payment! This marks the seventh straight year that the FHFA has increased the conforming loan limits after not increasing them for an entire decade from 2006 to 2016. Give me a call or text if you want to talk about it or think you have someone who may benefit from the increase. I'd love to chat with you!
Realtors, you know it’s coming if you haven’t already done so. A 2/1 buy-down is a benefit all around to the agents, sellers and buyers. This will make the listing more attractive and save the buyer a lot of money the first two years with little cost to the seller.
WASHINGTON—The Federal Reserve approved its third consecutive interest-rate rise of 0.75 percentage point and signaled additional large increases were likely even though they are raising the risk of recession. Fed officials voted unanimously to lift their benchmark federal-funds rate to a range between 3% and 3.25%, a level last seen in early 2008. Nearly all of them expect to raise rates to between 4% and 4.5% by the end of this year, according to new projections released Wednesday, which would call for sizable rate increases at policy meetings in November and December. “We have got to get inflation behind us. I wish there were a painless way to do that. There isn’t,” Fed Chairman Jerome Powell said at a news conference after the rate decision. Stock markets tumbled after a volatile trading day. The broad S&P 500 index fell 66 points, or 1.7%, to 3789.93. The yield on the two-year U.S. Treasury note settled around 3.993%, according to Tradeweb, from 3.962% Tuesday, nearly a 15-year high. Just after the Fed’s announcement, it had touched as high as 4.12%. Meanwhile, yields on longer-term Treasurys fell, since higher rates could lead to a sharper economic downturn. Officials projected that rate rises will continue into 2023, with most expecting the fed-funds rate to rest around 4.6% by the end of next year. That was up from 3.8% in their projections this past June. Analysts said they hadn’t expected the Fed to show quite so high an endpoint for the rate. Given how persistently elevated inflation has been, “I wouldn’t be surprised to see them go even higher than what they’ve written down—say, to 5%,” said Ellen Meade, an economist at Duke University who is a former senior adviser at the Fed. The projections showed considerable divergence over what might happen after next year. Around one third of officials expect to hold the fed-funds rate above 4% through 2024, while others anticipate more rate cuts. “There is a message here that rates will stay higher for longer, and this message is really sticking with market participants,” said Blerina Uruci, U.S. economist at T. Rowe Price. Even though the economy isn’t yet showing the full effects of Fed rate increases, “all of this volatility and uncertainty makes it hard for businesses to make plans. There are some benefits to having this hiking of interest rates over and done with sooner,” she said. One year ago, the Fed was signaling rates might stay near zero for another year, and it was purchasing Treasury and mortgage securities to provide additional stimulus. Officials misjudged the strength of the economy’s rebound from the pandemic and how high inflation would rise. They are now raising rates at the most rapid pace since the 1980s and have approved increases at five consecutive policy meetings, starting in March when they lifted the fed-funds rate from near zero. Until June, the Fed hadn’t raised rates by 0.75 point since 1994. Officials made a second such increase in July but signaled more concerns about overdoing rate rises, which, together with investor optimism about how quickly inflation might decline, fueled a market rally. Link to article: https://www.wsj.com/articles/fed-raises-interest-rates-by-0-75-percentage-point-for-third-straight-meeting-11663783397
*** WATCH SPECIAL PROPERTY FINANCING VIDEO*** Here's a great home for your $$! Super cute renovated brick home with lots of curb appeal boasting 3 bedrooms, 2 bathrooms, and a 2-car garage, set on a spacious lot. This recently updated residence features granite countertops, contemporary bathroom tiling with custom accents, newly installed vinyl plank flooring, fresh paint, and other enhancements. Nestled adjacent to an expansive open space, it offers abundant privacy while conveniently situated near a school. The back yard offers plenty of room for kids and pets to play as a nice patio for BBQs. Hurry! Will not last at this price. All information herein deemed reliable but not guaranteed. Buyer and buyer's agent should verify all data on MLS, including room sizes, schools, boundary lines, Square Ftg, etc. before making any offers.
*** WATCH SPECIAL PROPERTY FINANCING VIDEO*** This Home is in a USDA eligible 100% financing loan area! Peaceful country living in this recently remodeled 5-bed, 3-bath home on .4 acres in Mineral Wells. A split floor plan allows for two-family living as well! Open living room, kitchen with new appliances, large dining space, primary bedroom, 3 bedrooms, and 1 smaller bedroom or office. Enjoy outdoor gatherings on the back deck, overlooking the roomy backyard with a storage shed. Just an hour from Fort Worth, offering convenience and small-town tranquility. Nearby Lake Mineral Wells State Park for outdoor adventures. With recent renovations and desirable features, this home offers exceptional value at just $189,000. Don't miss out on the opportunity to make this your new haven! Bring offers today! All information herein deemed reliable but not guaranteed. Buyer and buyer's agent should verify all data on MLS, including room sizes, schools, boundary lines, Square Ftg, etc. before making any offers
*** WATCH SPECIAL PROPERTY FINANCING VIDEO*** This beautiful, two-story house is located in the Arrowhead community and boasts three spacious bedrooms upstairs, two and a half baths, and a roomy primary bedroom downstairs with its own ensuite bath and ample closet space. With access to the community pool, soccer fields, parks, and fishing in the beautiful lake, you'll never run out of things to do. The big backyard is perfect for hosting get-togethers and playtime with the kids and pets. Zoned in Willis ISD. This house is perfect for your family! Don't miss out on the opportunity to make this house YOURS – schedule a viewing today! All information herein deemed reliable but not guaranteed. Buyer and buyer's agent should verify all data on MLS, including room sizes, schools, boundary lines, Square Ftg, etc. before making any offers
"10/10 service!!!! Wade and his team went above and beyond to make sure we closed on our home. With a few hiccups and hurdles in the last hour they did navigate each step efficiently. I would definitely recommend them to assist with anyone looking to obtain a loan. Thank you 👍🏼"
camellia valenciano
"Wonderful"
cynthia green
"In 2015 Wade and his team helped us get into our first home, fast forward 8 years things have changed and due to a divorce hard decisions had to be made concerning the ownership of the house. From the beginning, even though we’ve never met in person Wade and team has given me solid advice over the phone, through annual check in’s and monthly words of inspiration through emails. But the one thing that has stuck with me and I have begun using it in everyday life is when he recently told me. “I am going to tell you what you NEED to hear, not what you WANT to hear.” Going through a divorce isn’t easy but sometimes you need someone like Wade to guide you and even though this time he was not our broker he will always be there to tell me what I need when it comes to his expertise. This make’s me feel like I am a forever client of his and you can’t go wrong with Wade Betz and team. I move into my new house today and with his words of wisdom I feel like I’m “Winning!” Thank you, Wade and team."
adriana hernandez