Realtor Magazine recently had a feature article, "23 Federal Laws that Apply to Real Estate Sales". There were some interesting laws relating to loans which included the Mortgage Reform and Anti-Predatory Lending Act. This act governs lender compensation to curb abusive loans by restricting the way mortgage professionals are paid. There is also the Fair Credit Reporting Act that permits Continue Reading
Archives for July 2013
Rapid rise in Interest Rates
The rapid rise in interest rates over the last two months from a low of around 3.5 % to the current level at approximately 4.6% will have a somewhat dampening effect on rising home prices according to many economists. The big question is how much? No one can know for sure, but we feel the effect will hardly be noticed unless interest rates rise to around the 6% level. At 4.6%, the rates are Continue Reading