Trump Suspends FHA Mortgage Rate Cut
Regardless of where you stand on the new administration, one thing is likely: the Trump administration will weigh in on the real estate markets. Real estate has been the focus of Trump’s career, and Republicans tend to be proponents of development and more open markets.
One of his first acts as president last week was to cancel an interest rate cut for FHA loans that was ordered by President Obama. You can read more about the story here: http://lat.ms/2jUnmJg
What does this mean for you the homeowner or potential buyer? If you don’t plan to have a mortgage backed by the Federal Housing Authority, then probably not much. But if you are in the market to buy a condo or townhome in Santa Monica or the westside of Los Angeles, we encourage you to pay close attention to the new administration’s moves on interest rates and the markets. Currently, interest rates continue to be at record lows, which is great for both buyers and sellers. But the Trump administration hasn’t revealed much in the way of policy, so anything can happen.
If you are in the market for buying property on the westside or are looking to sell your condo and need advice, call us anytime – day or night at (310) 314-7700. Brian and our team of specialists are here to help you plan for our future and maximize your real estate goals.
