November 5, 2024
Today is the day we elect the next President of the United States – along with many Senators and a complete slate within the House of Representatives. Whatever side you are on, it is important that you go out and vote, though nowadays many Americans have voted early. A recent Gallup pole has indicated that as many as 40% of voters had planned to vote before election day.
No matter who is elected as President or in Congress, they will have to address the present housing situation. Recently, Fannie Mae CEO Priscilla Almodovar had this to say about the housing sector when interviewed by MarketWatch — “It’s a highly unaffordable market right now. We are monitoring and following all these trends, things that we’ve never seen before.” This was the key portion of her longer statement — “Things we have never seen before.”
Personally, I have been in the industry for over 40 years. That means I have seen many, many housing cycles and I can’t tell you how many times I have heard that statement or some semblance thereof. The subprime and savings and loan crises were examples. The element we have in this very unique era is the lack of inventory which is pushing housing prices up even when sales are down. In the other “slow sales” situations, there were too many homes for sale. Thus, the new government team needs to address this very serious dilemma. Good luck to whomever takes over!
Source: Origination Pro
We are your local neighborhood mortgage loan experts. We live and work in Astoria, Queens NY and surrounding neighborhoods and are dedicated to seeing our community grow and prosper.
AMERIMUTUAL MORTGAGE (NMLS# 148447) Address: 18-33 41st Street, 2nd Floor, Astoria, NY 11105 Tel: (718) 943-9200 Fax: (718) 204 – 0657
Pick A Term
The creation of the “PICK A TERM” mortgage loan product was to accommodate so many borrowers dilemma in whether to refinance or not. Because of the standard 10, 15, 20 and 30 year terms, many borrowers in order to get the benefit of today’s great rates would be forced to either increase their payment because they had to pick a shorter term or ultimately add years to their loan. With the advent of this product, a borrower ultimately can “have their cake and eat it too” creating a win-win for the borrower. Since borrower can choose the term of the loan, usually the same number of years left on their current loan, they ultimately get the benefit of a lower rate, lower payment without increasing the life of the loan.
Through PICK A TERM, Amerimutual Mortgage tailors the term of your loan to best fit your situation. We have the program that is right for you!