If you made a late-night trip to your local hardware store yesterday for some supplies, 10 minutes before they close (you know who you are), you were probably not alone. Yesterday, Home Depot announced that their second quarter numbers were much better than anticipated and that they are expecting equally positive numbers the rest of the year. We have talked about the tariffs and construction woes in the past and how that could change the housing industry, but those are larg

We all are obviously aware that the world record for most simultaneous snow angels is held by North Dakota, but we don’t generally think of them when it comes to changes in our industry. A new request from the governor’s office could see North Dakota leading a change in our industry, just as they lead the nation in honey production. I’ll spare you more North Dakota trivia (enjoy more facts here), but Governor Doug Burgum has requested that limits on appraisal requirements be

It is rare in our industry for everyone to be having the same conversation. So many people and businesses are involved in the housing market that there is always something new to discuss or a different viewpoint of an archaic rule. Don’t get me wrong, there is plenty happening out there, but you can’t look anywhere right now without hearing the same thing…rates are up, and they don’t seem to be going down anytime soon. Freddie Mac announced yesterday “The 30-year fixed mor

Yesterday, the team here at Princeton Mortgage (Pittsburgh) ran the 10th Annual Pittsburgh Marathon. I must say that for five guys that drink more beer than water… I’m awfully proud. Additionally, we have a list of injuries like a hockey team. Earlier this winter, Charles Howell (National Closing Manager) sprained his ankle playing rec basketball and in the process of spraining that ankle he also chipped a bone in his foot. Joshua Teti (Processing & Opening Manager) pulled hi

Predatory lending, a term usually reserved for counties around Chicago, is popping up in New York of all places. New York has one of the highest costs of living in the country paired with high demand for property that makes the real estate market very competitive. Some homeowners may not be able to afford large down payments or the inflated real estate prices so may look to rent-to-own or lease-to-own contracts to make their dream of home ownership real. The New York Depar

The FHA was created in 1934 to get the housing industry off its feet. According to the FHA, mortgages were tough to come by for most homeowners, requiring 50%+ down payments and short-term notes with balloon payments, and only 40% of households owned their home. This new program allowed more Americans to buy homes in the post-war boom and made the housing industry a cornerstone of the economy. The catch? Homeownership levels are now over 64% (according to the census burea

Last week, we posted about the $5.5 trillion in equity that homeowners are sitting on and pondered when and how homeowners would start to tap into this equity. According to the census bureau, the current average sales price of a home in the US is $376,700 but just 5 years ago it was $312,500. That is an increase of $64,200 (or 20%) in just 5 years! With a surge in housing prices, most homeowners are probably unaware that their assets have appreciated so quickly and may be i