Mooresville Minute Real Estate Briefs
Economists at Fannie Mae are now predicting much higher mortgage rates through the end of 2026 and into 2027. It now puts the average rate on the 30-year fixed at 7.4% for the fourth quarter of this year and 7.5% through all of 2027. It previously forecast 6.8% for the fourth quarter and 6.7% for all of 2027. I foresee a lot of sellers offering concessions towards buying down interest rates for their buyers next year.
Nearly a quarter of first-time home buyers relied on financial help from family or friends in the form of loans or direct gifts for down payments. About 2.6 million parents gave $26.6 billion to support 3.7 million adult children living away from home in 2024. I didnt need any help from my parents when I bought my first home…Of course it only cost $38,000!
The share of home buyers ages 25 to 34 who used an older cosigner rose to 3.7% in 2022 from 1.6% in 1994. Cosigners don’t own the property and can’t stop a home sale, unless they are added to the property title as co-borrowers. If their child doesn’t make payments, it could impact the parents’ credit. Make sure you’re on the deed mommy and daddy!
Lenders repossessed 5,794 properties through completed foreclosures in August, up 22% from July and 42% from August 2025. Overall, 40,277 US properties received some form of foreclosure filing — including default notices, scheduled auctions and bank repossessions — during the month….up just 1% from July but 13% from a year earlier, continuing a months-long trend of foreclosure activity running above 2025 levels. Florida recorded the largest number of foreclosure starts, at 3,189, followed closely by Texas with 3,126 and California with 2,565. Illinois and Georgia rounded out the top 5. Not a good sign…
Miraculously, a BIPARTISAN probe is being opened into how leading home and auto insurers process claims, following a Wall Street Journal investigation into the rising chances of no payout. U.S. property and casualty insurers reported $31.2 billion of underwriting profits for the first half of 2026, nearly triple the $10.9 billion for the same period in 2025, which might explain the higher rates and low/delayed claims payouts? Pirates policing Pirates?
Real estate rules are different everywhere: not only is the real estate hyper-localized, the systems and methods can differ too. In Italian real estate culture, a kitchen is legally and culturally classified as movable furniture rather than a permanent fixture of the house. When previous owners or tenants move out, they routinely disconnect and take their kitchen cabinets, countertops, and appliances with them.
SMH- I have nothing to say about this…
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Mooresville Minute Real Estate Briefs
Economists at Fannie Mae are now predicting much higher mortgage rates through the end of 2026 and into 2027. It now puts the average rate on the 30-year fixed at 7.4% for the fourth quarter of this year and 7.5% through all of 2027. It previously forecast 6.8% for the fourth quarter and 6.7% for all of 2027. I foresee a lot of sellers offering concessions towards buying down interest rates for their buyers next year.
Nearly a quarter of first-time home buyers relied on financial help from family or friends in the form of loans or direct gifts for down payments. About 2.6 million parents gave $26.6 billion to support 3.7 million adult children living away from home in 2024. I didnt need any help from my parents when I bought my first home…Of course it only cost $38,000!
The share of home buyers ages 25 to 34 who used an older cosigner rose to 3.7% in 2022 from 1.6% in 1994. Cosigners don’t own the property and can’t stop a home sale, unless they are added to the property title as co-borrowers. If their child doesn’t make payments, it could impact the parents’ credit. Make sure you’re on the deed mommy and daddy!
Lenders repossessed 5,794 properties through completed foreclosures in August, up 22% from July and 42% from August 2025. Overall, 40,277 US properties received some form of foreclosure filing — including default notices, scheduled auctions and bank repossessions — during the month….up just 1% from July but 13% from a year earlier, continuing a months-long trend of foreclosure activity running above 2025 levels. Florida recorded the largest number of foreclosure starts, at 3,189, followed closely by Texas with 3,126 and California with 2,565. Illinois and Georgia rounded out the top 5. Not a good sign…
Miraculously, a BIPARTISAN probe is being opened into how leading home and auto insurers process claims, following a Wall Street Journal investigation into the rising chances of no payout. U.S. property and casualty insurers reported $31.2 billion of underwriting profits for the first half of 2026, nearly triple the $10.9 billion for the same period in 2025, which might explain the higher rates and low/delayed claims payouts? Pirates policing Pirates?
Real estate rules are different everywhere: not only is the real estate hyper-localized, the systems and methods can differ too. In Italian real estate culture, a kitchen is legally and culturally classified as movable furniture rather than a permanent fixture of the house. When previous owners or tenants move out, they routinely disconnect and take their kitchen cabinets, countertops, and appliances with them.
SMH- I have nothing to say about this…
