dhughes' Blog: Mortgage

Reno Mortgage rates


Fannie Mae Will Soon Be Lifting Declining Market Status In Reno

photo dhughes

My phone is ringing and my email is sounding off! It’s a wonderful thing. The buyers in the Reno and Sparks area are starting to come out of Real Estate hibernation mode and are ready to buy. They are getting some great deals as the market has adjusted back to affordability.

Homes sales in the Reno area grew to 300 in April. That number does not include sales in the Pleasant Valley, Lemmon Valley and Stead areas. That’s a better number than we have seen in the last couple years.

 Fannie Mae is giving us a helping hand by dropping its policy of a higher down payment and not labeling Reno as a  “declining market”.   This allows buyers to put down 3% instead of the 5% they were requiring them to do. This should make it easier for buyers to purchase homes in… Read Full Post

Posted: 2 months ago, Comments: 0, Average Rating: Views: 200

Reno Mortgage Rates At 4 Year Low

photo dhughes

Last Thursday the Fed dropped its key overnight lending rate to 2% in a move to curb recession. What that means for Reno homeowners is a 30 year fixed mortgage currently at 5.72% down from 5.86% last week. The prime lending rate fell to a corresponding 5% which applies to a lot of home equity lines of credit, credit cards and other loans. This will help the Reno Real Estate market and any buyers who are sitting on the fence.

If you want to see what you qualify for you can go to my website at www.homes-reno.com and get started.

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Posted: 2 months ago, Comments: 0, Average Rating: Views: 193
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dhughes

dhughes I have been an full-time Realtor in the Reno-Sparks area for over 24 years and an avid golfer. I co host a local golf show here in Reno called ""Those Golf Guys", hope you enjoy my blog and will try and keep you informed on what is going on here in Northern Nevada. Read More

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