This week has been quite an eventful one for the real estateReal Estate is land and anything permanently attached to it, such as buildings and improvements. and mortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the ability to foreclose on the home. market (and not to mention the government). Let’s hope things get back on track next week.
Here are my top news stories for this week:
The government shutdown could affect the mortgage market in more ways than expected, maybe even bringing it to a halt.
There’s also been talk of the 30-year mortgage disappearing, but experts are pretty confident that it’s here to stay.
If foreclosures weren’t scary enough before, the rise of “vampire” foreclosures have the potential to cause more problems in the housing sector.
And lastly, Freddie Mac has reported that mortgage rates are falling back to pre-summer levels, which is good news for home buyers.