Happy Mid-March!
This month’s update is short and not so sweet. The market activity is still very strong and has not changed…yet.
Big BREAKING MORTGAGE NEWS in the last few days is regarding the purchase of 2nd homes. A new Treasury Amendment now limits Fannie Mae on the acquisition of single-family mortgage loans secured by the second home and investment properties to only 7%. As a result, this could equate to as much as a half-percent higher rate on these loans. Click here for the full article.
No market is immune to these kinds of changes. If you’re wanting to purchase on the OBX, the time is now! Of course, that means we need more inventory. If you’re thinking of selling and want a complete analysis of what your home is worth, contact me today!
As always my goal is to keep you updated on the most relevant information. If there is anyone you know who could benefit from this monthly newsletter, ask them to subscribe here.
