Liars will go to great lengths to deny wrongdoing. So what do you do when someone claims innocence, yet your suspicions remain? That's what one Freddie Mac Single-Family Fraud Risk (SFFR) investigator experienced in a case in which the denials were so convincing, the perpetrator got away with the crime. But not for long. Read the summary report to find out more.
Mortgage rates have increased from 3% in early 2022 to more than 7% in November 2023, more than doubling in the past year. As rates rise, the pool of homebuyers who would qualify for the current average loan decreases notably. But at what point do higher rates become too high for consumers? Learn more from a recent Freddie Mac analysis.
More than half of homes in the U.S. are at least 20 years old and likely in need of upgrades. According to a recent Freddie Mac survey of potential renovators and homebuyers, although most hold positive attitudes toward renovating, financial cost, emotional barriers and a lack of knowledge about financing options can be significant obstacles. Lenders have an opportunity to provide more resources on the value of renovating as well as financing options such as renovation mortgages. Read more.
As home prices remain high amid a competitive market, an increasing percentage of young first-time homebuyers are relying on support from older generations, including their parents, to buy a home together. A family member or friend can support a homebuyer by co-signing for a mortgage or listing themselves as a co-borrower. Combining income with a co-borrower allows borrowers to qualify for a higher loan amount. Read the research.
Accessory dwelling units (ADUs) are taking the main stage as a solution to add affordable housing units to the market. In fact, The White House recently convened a panel aimed at identifying strategies to make ADU construction easier, including streamlining the permitting and construction processes and making financing more accessible. Learn more about expanded policies for properties with ADUs, providing additional eligibility opportunities to responsibly finance ADU purchases and renovations.