Homes priced below 75% of the local median price had 14% annual appreciation, negating most of the benefits of record-low mortgage rates.
Category: Industry News
Mortgage industry updates, market trends, and local Connecticut regulations.
2021 Mortgages Getting Off to a Great Start
More and more people are closing on new homes. And Burke Mortgages is getting 5-STAR reviews! Connecticut’s housing market is as HOT as it has been in over a decade! Buyers are buying and sellers are selling. Best advice for sellers? It’s still very important that you make a positive first impression from the outside Read More
Generational Credit Score Averages Going UP!
Reports from Experian say that ALL generations have boosted their credit score averages by 1-11 points from 2019 through 2020!
Connecticut has seen an influx in the number of people moving into the state.
MyMoves reports that since the onset of COVID19 Connecticut has experienced an influx of people moving into the state.
Existing Home Sales Report
May data available!
Connecticut Mortgage Payment Relief During COVID-19 Crisis
Connecticut residents experiencing economic hardships due to the COVID-19 pandemic may receive a 90-day grace period to make mortgage payments.
COVID-19 and The Mortgage Industry
During the COVID-19 pandemic and Connecticut’s Stay Safe, Stay Home order, Burke Mortgage is operational and continues to serve residents as they seek mortgages for purchase or refinance needs.
What Happened to Mortgage Rates Last Week?
The short holiday week felt an unexpected push for lower mortgage rates attributed to the escalating concern over the Coronavirus.
A Very Profitable Year for Home Sellers
Here’s a quick look at the real estate seller’s market in 2019 Did you know that homeowners selling their homes made more profit in 2019 than they did in 2018. And these profits have hit the highest levels since 2006. (Reference: according to ATTOM Data Solution’s US Home Sales Report.) Nationwide, home sellers saw a Read More
2020 Conforming Loan Limits Increased
Burke Mortgage is pleased to announce that the 2020 FHFA loan limits will be available for conventional loan registrations and rate locks beginning Tuesday, December 3, 2019.