BACK TO MAIN PAGE

Weekly Roundup – October 8

October 12, 2020

2 MINUTE READ

Hello friends! Goodness is there a lot going on this week. With the debates,  low mortgage rates, and a second round of stimulus legislation up in the air, it might be a good time to check in on your news junkie friends, just to get them out in the sun for a minute. On with the roundup!

A Plan to Juice Home Ownership

What’s this all about?

Presidential candidate Joe Biden proposed a $15,000 tax credit for first-time homebuyers back in February (a lifetime ago now, it seems). Since affordability is the biggest reason millennials (who are saddled with student loan and credit card debt) aren’t becoming homeowners, the tax credit could be a game-changer in some markets.

What it means

Biden’s proposed tax credit means that at the time of purchase, you immediately have $15,000 in your pocket to use toward the down payment or the closing costs (yay!), rather than making the purchaser wait until their next tax filing. For struggling Californians, this could make all the difference. And, if you work with Reali to buy your home, you get another bonus: the Reali Rebate.

Doing the Mortgage Rate Limbo

What’s this all about? 

Mortgage rates dropped to 3.01% this week, after setting a number of record lows throughout the year. Overall, mortgage applications fell 2% as home inventory dries up in places around the country. As a result, refinance applications are up 8%, 50% higher than they were at this time last year.

Tell me more

Supply, affordability and the pandemic are the three obstacles clogging up the housing market right now. While the election may be causing some to delay their plans to buy or sell a home, a survey showed economic uncertainty from the pandemic is driving people to wait on buying or selling their homes. Of course, supply, affordability and the pandemic are policy-related, and thus election-related, issues too, so stay tuned. In the meantime, you can get a rate quote from Reali Loans in just a few minutes!

On the lighter side…

18 Tasty Bites Made from Pumpkin that Aren’t Pie

Nothing against pie!, but variety is the spice of life, as they say.

Instagram has Secret Retro Icons for its Tenth Birthday 

Here’s how you retrofit your feed’s look and move closer to influencer status.

Where to Save Money on a Landscape Renovation

These common sense pointers can help stretch limited budgets without sacrificing quality.

3 Tips For Infusing Life Into Groggy Mornings

A sleep specialist’s advice for getting the jump on slow starting days.

One more thing…

Alright, friends. That’s it. See you next week!