Reverse Lending Solutions

09/18/2024

Big news! Feds announce 1/2 % rate cut today.

03/14/2024

Curious what mortgage rates have been for last 70 years?

Starting back in 1953, mortgage rates were 3.25%. Over time, they slowly increased until their peak in 1981 at 16.63% !! Again over time, we saw a gradual decline to the lowest point in 2021 at 2.65%. We've doubled that rate over the last 3 years, and it's really hard to call where it goes from here. The thing to remember is over that 71 year time span, people were still buying and selling houses and will continue to do so. Right now, inventory for sale is really low which should keep housing prices at their current high levels. Most "experts" assume that rates will start to decline in the 2nd half of 2024. What that does to housing prices is to be determined.

02/02/2024

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01/18/2024

11/10/2023

Something interesting is happening in the real estate world, and I wanted to give you the scoop. Here's what's happening in the market:

Home Sales Taking a Hit: Existing home sales have hit a 13-year low, experiencing a 15% drop over the past year.

Interest Rates Climbing: Interest rates are now around 8%, which is over double in the last 24 months. Typically, this would mean home prices going down, right?

Prices Rising: Surprise, surprise! Despite expectations, the median sales price has gone up by 18% since last year. So, what's the deal?

Here's the breakdown: When interest rates were super low, many of us took advantage and locked in good mortgage deals. Now, with rates on the rise, those thinking about moving up in the housing market are staying put. Reasonably so, they aren't looking to increase their loan amounts and double their interest rates.

With fewer homes available and demand still high, prices are on the upswing. It's the usual dance of supply and demand.

In a nutshell, the decisions of those moving up, the shift in interest rates, and the limited housing market are creating a real estate puzzle that's not following the usual rules. If you have any questions, I'm available to talk.

10/13/2023

Will your 401k be enough?

As many individuals near retirement, they seek the financial stability enjoyed by their parents, often involving early retirement supported by social security, pensions, and savings. Yet, in today's evolving retirement landscape, traditional pensions are fading, and many face the prospect of a prolonged working life.

Historically, company pensions provided guaranteed retirement income, but these are giving way to employee-managed 401(k) plans. Studies show that a significant number of those over 40 have fallen short in retirement savings, making early retirement dreams challenging.

To address this, some are exploring alternative solutions, such as reverse mortgages. A reverse mortgage taps into home equity, offering additional retirement income. This financial tool can bridge the savings gap, especially for those with insufficient savings who still aspire to retire early.

In summary, while traditional pensions are becoming scarce, financial adaptability is key. Early retirement remains a goal for many, and those with shortfalls in savings might find solutions like reverse mortgages valuable to secure a more comfortable retirement. Call me if you'd like to know how it could work for you.

09/20/2023

Did you know you can use a reverse mortgage to buy a house? Click here for details: https://reverselendingsolutions.com/purchase-with-reverse/