Category: Industry News

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

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.

and the 2019 Beige Book Release Mortgage-backed securities lost just -5 basis points (BPS) from last Friday’s close which caused fixed mortgage rates to remain at their best (lowest) levels of 2019 for the sixth week in a row. Overview: We had a solid round of domestic economic data with very strong ISM Services and Read More

The “scuttlebutt” has it that interest rates are the best they have been in years!

While interest rates have ticked up from their recent lows in March of this year, mortgage rates are still at their best levels in over a year.

This year there are more homes on the market, prices growing at a slower rate and even falling in some markets, and less competition from other buyers.

Conforming Loan Limit Increases

At last Friday’s close, mortgage backed securities lost -75 BPS causing fixed mortgage rates to reach their highest levels in over 7 years.

As of September 1st the  average 30-year fixed mortgage rate in Connecticut remained stable at 4.40%. Connecticut mortgage rates today are 1 basis point higher than the national average rate of 4.39%.

Zillow has dusted off its crystal ball for 2018 housing market predictions, and the forecast is laced with both new and ongoing housing market trends. Looking into the new year, Zillow predicted that the ongoing inventory shortage will persist, with more existing homeowners opting to remodel and stay in place rather than try to elbow Read More