Diane Gerdes

Interest Rates In The Time of COVID

Interest Rates In The Time of COVID-19 At the beginning of 2020, the oracles forecasted a booming economic year and steady mortgage rates somewhere in the 4’s. Their crystal balls prophesied 2019’s low mortgage rates would become a unicorn, a blip to read about in history books. That was of course, before COVID. Now, the rates have fallen to areas

Appraisals In the Time Of COVID

Appraisals In The Time of COVID-19 In these COVID times, appraisals are the hurdle to closing transactions. (BTW, have you noticed that COVID is the excuse for EVERYTHING? Some appraisers provided awful service before, but now they have an excuse.) Appraisals are to protect the buyer from purchasing an overvalued home and all appraisers are managed by appraisal management companies.

No Pay Stub? No Problem.

Unconventional Mortgages Make a Comeback …a flavor of mortgage once panned for its role in the housing meltdown a decade ago is making a comeback. These loans, aimed at buyers with unusual circumstances such as those who can’t provide the standard proofs of income, are growing rapidly even as rising interest rates and higher home prices crimp demand for mortgages.