Fannie Mae and Freddie Mac were scheduled to increase the fees they charge lenders for guaranteeing mortgages this year. The fees often trickle down to borrowers and result in higher mortgage rates. In his first policy decision as the new Federal Housing Finance Agency director, Mel Watt, signaled that maintaining borrowers' access to mortgage credit is a high priority by putting a stop to the increased fees. Watt has called for further study of the potential impact increased fees will have on borrowers.
"The implications for mortgage credit availability and how these changes might interact with the new ... mortgage standards could be significant," Watt said. "I want to fully understand these implications before deciding whether to move forward with any adjustments."
This reversal is good news for 2014 home buyers. As interest rates and home prices inch up, an increase in lender fees could put a damper on the housing rebound. Interested how much loan you qualify for. Click here for a confidential loan analysis.
Take a look at sales figures in Midtown Montgomery for 2013.
Midtown Montgomery real estate sales statistics for this year, 2013, show the number of homes sold increased by 7% when compared to last year, 2012. The average sales price increased by 4% to $ 127,763 for the year. The median sales prices decreased by 4%, and market times increased by 8 days from 2012. The highest selling home price decreased by 4%, and the lowest selling home price decreased by 837% from 2012.
| Midtown Montgomery |
2013 |
2012 |
| Homes Sold |
399 |
371 |
| Average Selling Price |
$ 127,763 |
$ 123,133 |
| Median Selling Price |
$ 100,700 |
$ 105,000 |
| Days On The Market |
140 |
132 |
| Highest Selling Price |
$ 750,000 |
$ 785,000 |
| Lowest Selling Price |
$ 5,000 |
$ 30,000 |
Search all Montgomery AL Real Estate And Homes For Sale.
Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.
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Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.
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