Service First Blog

Archive for the 'industry news' Category

Mortgage News: A New Credit Policy Coming Soon

Posted by:  Service First
2017-03-29 07:39:28

An impactful change will take place on July 1st with borrowers credit scores and the process of reviewing credit scores. The three national credit bureaus – Equifax, Experian, and Transunion – will stop collecting and reporting civil judgement and tax lien information. Lenders and landlo...[read more...]

Categories:   industry news


Increase in Maximum Conforming Loan Limits in 2017

Posted by:  Service First
2016-12-02 10:26:32

The Federal Housing Finance Agency (FHFA) recently announced an increase in the maximum conforming loan limits in 2017 for Freddie Mac and Fannie Mae mortgages. In most of the country, the 2017 maximum loan limit for one-unit properties will be $424,100, an increase from $417,000. In areas whe...[read more...]

Categories:   industry news


Millennials are Driving the Housing Market

Posted by:  Service First
2016-11-23 07:55:07

Skyrocketing rents are driving millennials to steadily increase their presence in the housing market by buying instead of renting. At today’s average rental rates, the price of renting an apartment or a condo cost about the same as purchasing a home, from a month-by-month perspective. Pu...[read more...]

Categories:   industry news


If you’re an international home buyer looking for your next Texas real estate investment, you’re not alone. According to the latest Texas International Home Buyers Report released by the Texas Association of Realtors, international home buyers added over $10 billion to the Texas econo...[read more...]

Categories:   industry news


Texas Cities Rank in Top 5 Largest Starter Homes

Posted by:  Service First
2016-08-24 08:57:17

As you search for your first home you may wonder where in the country you can get the most for your money. According to new data released by Trulia, it’s time to consider Texas. Texas cities Austin and Houston rank in the Top 5 metro areas across the country for largest starter homes availa...[read more...]

Categories:   industry news


Hispanic Homeownership Rates on the Rise

Posted by:  Service First
2016-07-20 09:37:16

A recent study by the Hispanic Wealth Project finds significant growth in homeownership among Hispanics since 2000. Second-generation Hispanics have reached a 50 percent homeownership rate. In 2015, the Hispanic homeownership growth rate accounted for 69 percent of the total net growth. This m...[read more...]

Categories:   industry news


If you’re a homeowner in Texas, chances are your house has positive equity. According to new data released by CoreLogic, Texas has the highest percentage of homes with positive equity, at 98.1 percent. Across the country, equity for homeowners has almost doubled to 6.9 trillion from only...[read more...]

Categories:   industry news


Mortgage Rates Drop after Disappointing Job Report

Posted by:  Service First
2016-06-16 07:49:35

The recent employment report had a major impact on mortgage rates. The report showed that the economy had only added 38,000 jobs in May, a big disappointment. As a result, mortgage rates fell for the first time in four weeks, to an average of 3.60 percent, down from 3.66 percent the week prior. ...[read more...]

Categories:   industry news


Home Sales at Highest Pace in a Decade

Posted by:  Service First
2016-06-08 08:34:57

Are you in the market for a new home? You’re not alone. Despite a low inventory of homes available and rising home prices, existing-home sales are at their highest rate since 2006, according to Lawrence Yun, Chief Economist for the National Association of Realtors (NAR). Although low inv...[read more...]

Categories:   industry news


How to Decide Whether to Rent or Buy a Home

Posted by:  Service First
2016-06-03 09:37:03

Can't decide whether you should rent or purchase a home? Consider the following three key factors when making this life-changing decision. Your Housing Market All housing markets are not created equal. If it’s more affordable to buy a house than to rent in the area where you live &ndas...[read more...]

Categories:   industry news


How Renovation Loans Can Help You Buy a Home

Posted by:  Service First
2016-05-20 13:54:52

Since the inventory of available homes in the market is low, homebuyers are starting to become more creative when it comes to finding their dream home. One of those creative solutions involves renovation loans. With a renovation loan, a homebuyer may choose to purchase a house that they can trans...[read more...]

Categories:   industry news


What are you going to do with your tax refund? Before you purchase that new phone or TV, consider investing your tax refund in your journey to homeownership. According to Freddie Mac, here are three ways your tax refund can help you become a homeowner: Down payment - Save your tax refund fo...[read more...]

Categories:   industry news


According to an analysis completed by Realtor.com, the Dallas-Fort Worth area ranked #3 in the Top 20 Hottest Housing Markets in America for February. The analysis takes into account growing demand, inventory, and home prices. In addition to ranking 3rd, housing inventory is moving six days fa...[read more...]

Categories:   industry news


According to an article from the Dallas Morning News, millennial homebuyers now account for 36 percent of U.S. home purchases. Forty-four percent of these buyers are purchasing homes in the suburbs; despite the popular notion that many millennials prefer urban neighborhoods. As a result of thi...[read more...]

Categories:   industry news


What to Do Before You Unpack in Your New Home

Posted by:  Service First
2016-02-11 06:59:22

Congratulations! You’re a homeowner. What’s next? Unpacking. We know the excitement of moving into a new home can be quickly overridden by the overwhelming task of unpacking. Where should you start? Our friends at Zillow.com share the following tips as you prepare to unpack and mak...[read more...]

Categories:   industry news


5 Real Estate Trends in 2016

Posted by:  Service First
2016-02-02 08:04:34

According to a recent article from the Daily Real Estate News, the following five trends will dominate the real estate market this year: Generational buying will increase. This includes millennials who will enter the market as first-time homebuyers as well as GenXers who are already homeowners...[read more...]

Categories:   industry news


A recent Home Value Forecast (HVF) released by Zillow ranks Dallas-Fort Worth (DFW) as the 3rd hottest housing market in the country in 2016. According to Zillow, the DFW area is ideal for job growth, holding strong with a 4 percent unemployment rate and solid income growth. Median home values...[read more...]

Categories:   industry news


Need another reason to love Texas? How about the strong housing market? According to a report from the Texas Association of Realtors, Texas was the No. 2 state for gains in out-of-state residents, with more than 538,000 Americans relocating to Texas as a result of the state’s business-frien...[read more...]

Categories:   industry news


You just purchased the home of your dreams. Now what? Preparing for home maintenance issues that may arise in the future is a smart next step. Freddie Mac shares the following tips for preparing for home maintenance issues: Set aside time and money. You will need money for regular mainte...[read more...]

Categories:   industry news


Advantages of Buying a Home in the Winter

Posted by:  Service First
2015-11-11 13:17:43

Interested in buying a home? Now is as good a time as ever! According to Realtor.com, if you are ready to buy a home, it’s worth exploring the inventory this winter in order to avoid the crowds of homebuyers in the market this upcoming spring season. Choosing to buy now versus later will...[read more...]

Categories:   industry news


Although the inventory of foreclosed homes is shrinking, opportunities for real estate investment abound, especially in the Lone Star State. According to a recent report released by HomeVestors and the Local Market Monitor, Texas cities including Dallas (#2), Houston (#3), Austin (#4) and San Ant...[read more...]

Categories:   industry news


According to a recent study, millennials between the ages of 25 and 34 are dominating the first-time homebuyer market at a rate of 65 percent. The data from the National Association of Realtors 2015 Homebuyer and Seller Generational Trends report, illustrates that millennials are thwarting their ...[read more...]

Categories:   industry news


According to a recent study conducted by Fannie Mae, consumer spending and other domestic fundamentals will be key drivers of economic growth in the second half of 2015, despite recent volatility. “Our forecast for the year is largely unchanged despite recent market volatility. Fundamentals...[read more...]

Categories:   industry news


The results of a recent housing market index suggest home builders’ confidence in the market for newly constructed single-family homes is rising. The housing market index released by the National Association of Home Builders (NAHB) shows that builder confidence in the home market for newly ...[read more...]

Categories:   industry news


Think falling oil prices may negatively impact the Texas housing market? Think again. According to the latest Texas Quarterly Housing Report, home prices statewide hit an all-time high of $200,000 during the second quarter of 2015. That’s an 8.1 percent increase compared to the same time...[read more...]

Categories:   industry news


Jumbo Mortgages Experience Significant Growth

Posted by:  Service First
2015-08-04 06:55:28

Did you know jumbo loans now account for approximately 20 percent of all mortgage loans? According to Mortgage Professional America, jumbo mortgage lending grew 36 percent year-over-year to an estimated $160 billion in the first half of 2015. In Texas, the threshold for jumbo loans starts at $...[read more...]

Categories:   industry news


Increasing consumer optimism toward the current home selling market may bode well for purchase activity this year, according to results from Fannie Mae’s June 2015 National Housing Survey. The monthly survey polls the U.S. adult general population to assess their attitudes about homeownersh...[read more...]

Categories:   industry news