Shelter Six: IRS Resumes Providing Income Verifications

January 21, 2019 by · Leave a Comment

1. One key part of the government shutdown is over as the IRS has resumed providing tax transcripts for mortgage applications, thanks to efforts of the Mortgage Bankers Association (MBA). 2. MBA advocacy is also responsible for the resumption of flood insurance policies, which FEMA had halted at the beginning of the shutdown. 3. Last […]

Shelter Six:  Mortgage Business as Usual Despite Government Shutdown

January 14, 2019 by · Leave a Comment

1. As we enter the fourth week of the partial government shutdown, the mortgage business has been mostly unaffected but concerns around FHA, verifying income, and funding all loom. 2. The shutdown is causing delays in the release of some government economic reports, which are coming out more sporadically than normal. 3. Good news on […]

Shelter Six:  Despite Shutdown, Mortgage Business Still Closing Loans

January 7, 2019 by · Leave a Comment

1. As the partial government shutdown enters its third week, the mortgage business continues to function and close loans. 2. Conforming and VA financing have not been impacted but FHA is working with a limited staff and, as things get busier, there could be delays with FHA closings. 3. Also, a prolonged shutdown could soon […]

Shelter Six:  Economic Forecast Points to a Strong 2019

December 31, 2018 by · Leave a Comment

1. Economically, 2019 is going to be another year of positive growth for GA. According to UGA’s Terry School of Business, look for GA to outperform the U.S. as a whole for the 6th straight year. 2. The GA economy has been expanding for roughly nine years and is presently well-balanced and, absent a full-blown […]

Shelter Six:  Fed Bumps Rates up .25%

December 24, 2018 by · Leave a Comment

1. As expected, the Federal Reserve raised the Federal Funds Rate by .25% last week.  Fed officials now expect two rate hikes in 2019, one less than previously forecasted. 2. The most recent inflation data revealed that inflation is still rising but continues to be below the Fed’s stated target level of 2%. 3. The […]

Shelter Six:  Maximum FHA Loan Limit Up for 2019

December 17, 2018 by · Leave a Comment

1. The new 2019 maximum FHA loan limit for Metro-Atlanta is up 5.4% to $379,500 for a Single-Family Detached property. 2. The new FHA loan limits are also up to $485,800 for 2-unit, $587,250 for 3-unit, and $729,800 for 4-unit properties in 2019. 3. A quick reminder that the new maximum Conforming loan limit for […]

Shelter Six:  Another Solid Employment Report

December 10, 2018 by · Leave a Comment

1. Good news for the 2019 real estate market last week as the latest employment figures showed solid gains in both the number of new jobs as well as wage growth. 2. The economy added 155K jobs in November, a little less than the 190K expected.  So far this year, the economy has averaged a […]

Shelter Six:  Conforming Loan Limit Raised to $484,350

December 3, 2018 by · Leave a Comment

1. The Federal Housing Finance Agency (FHFA) has increased Conforming Loan Limits to $484,350 (1-unit), $620,200 (2-unit), $749,650 (3-unit), and $931,600 (4-unit). 2. The Housing and Economic Recovery Act (HERA) requires that loan limits for Fannie Mae and Freddie Mac be adjusted annually to reflect changes in the average U.S. home prices. 3. According to […]

Shelter Six:  Home Inventory and Wage Growth Forecasted to Rise

November 26, 2018 by · Leave a Comment

1. Good news for real estate sales as the Mortgage Bankers Association (MBA) forecasts inventory to expand with gradual increases in the housing supply over the next 2-3 years. 2. The MBA also projects wage growth to accelerate over the next few years, which will help more people be able to qualify at today’s higher […]

Shelter Six:  Wishing You and Yours a Safe and Happy Thanksgiving!

November 19, 2018 by · Leave a Comment

1. There are signs that the global economy is beginning to slow down.  Last week, both Germany and Japan released 3rd Quarter results indicating weakening economies. 2. The end of the rate hikes may be near.  Some investors are now projecting around four more Fed rate hikes this year and next before rate policy turns […]

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