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February 2022 Real Estate Finance News Recap

+ 30-year fixed-rate mortgages declined slightly to 3.89% for the week ending February 24th. They are still sitting a full percent higher than six months ago.

+ Buying a condo with a Fannie or Freddie loan just got harder as a result of the condo collapse in Surfside, Florida. New guidelines deem that condos with significant deferred maintenance or critical repairs will be ineligible for their programs.

+ While home values increased nearly 20% last year, housing inflation amounted to roughly 4% in the same period. Former Treasury Secretary Larry Summers projects that residential inflation will reach 6.5-7% in 2022.

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