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Making sense of ultra-low mortgage rates

Housing Wire

According to UWM, a homeowner or buyer must have a FICO score of at least 640. If people are willing to buy or refinance at a higher rate, they can get a rebate toward closing costs,” he said. But if you want a lower rate, instead of getting that credit, 1.875% would cost an extra $6,940 in points.

Mortgages 528
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Buyer agency: a crucial historical shift in real estate

Housing Wire

Many buyers struggled with the financial burden of covering closing costs , making it difficult or impossible to also cover the compensation for agent representation. While lower home prices might appear advantageous to buyers who navigate the market without professional guidance, they pose a considerable risk to current homeowners.

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Opinion: Reframing the American Dream of homeownership

Housing Wire

Current market challenges The real estate market is currently characterized by a complex interplay of factors: Interest Rate Volatility: Fluctuating interest rates have made it difficult for potential buyers to predict the cost of financing a home. Despite these challenges, the dream of homeownership remains alive.

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Three yards and a cloud of dust

Housing Wire

Last week, we wrote a letter to FHA , offering constructive suggestions to ensure a level playing field between borrowers where the seller agrees to fund buyer brokerage commissions and where the seller doesn’t. All these homebuyer charges add up. We need to rein them in. Three yards and a cloud of dust.

FHA loan 449
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Opinion: Agencies are key to fixing housing affordability

Housing Wire

Last week, we wrote a Letter to FHA , offering constructive suggestions to ensure a level playing field between borrowers where the seller agrees to fund buyer brokerage commissions and where the seller doesn’t. All these homebuyer charges add up. We need to rein them in. Three yards and a cloud of dust.

FHA loan 476
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Opinion: Anticompetitive price fixing in real estate commissions is not the answer to fair and accessible homeownership

Housing Wire

The groups criticizing CFA, and by extension, DOJ, argue that uncoupling commissions will harm first-time home buyers, especially Black and Hispanic homebuyers who may have limited resources to pay down payment and closing costs. We believe industry members will continue to play an essential role in educating home buyers and sellers.

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How Much Are Closing Costs in Michigan?

HomeLight

Editor’s note: This post will help answer the question: How much are closing costs in Michigan? The example costs provided are based on median home prices and typical fees. Your closing costs may differ depending on your circumstances and the terms of your home purchase.