• Wappingers Office
    (845) 297 4700
    (845) 297 8178
  • Lagrange Office
    (845) 485 2700
    (845) 485 2703
  • New Paltz Office
    (845) 255 6163
    (845) 255 6757
  • Commercial Real Estate Division
    (845) 297 4700
    (845) 567 8333

CENTURY 21 Alliance Realty Group's Blog

Fannie Mae Introduces Enhanced Affordable Mortgage Program That May Be A Game Changer For You!

After much research and feedback from lenders as well as home buyers, Fannie Mae has announced that it will provide an enhanced affordable lending product designed to meet the financial needs of responsible, credit-worthy buyers.  

Fannie has recognized the many financial challenges many would-be homebuyers are facing.  Many can't afford a large down payment, they may have multiple student loans, and/or they may rely on income from non-traditional sources, such as parents or other family members.  These factors have impacted the ability of a lot of people from qualifying for a mortgage.  Well, that may be about to change . . . perhaps for YOU!

The new program, called the HomeReady™ Mortgage, will be available from lenders later this year, and will offer expanded eligibility guidelines which will be real game changes for a lot of people who could not previously qualify for a mortgage:

Happy New Year!

Income Growth Keeps Consumer Spending Strong

More good news for the real estate industry, and the economy as a whole going into the new year.

The final U.S. Economy in a Snapshot report from the New York Federal Reserve for 2015 shows overall consumer spending remains fairly strong based on healthy income growth and improving conditions in the labor market.  Consumers’ sentiment about the economy remains “fairly upbeat,” according to the Fed’s report with data available through Dec. 9, 2015. The Fed also found that consumers’ consumption of goods increased 0.2 percent, “reflecting a moderate increase in the durables and nondurables categories.”

According to the Fed report, after a slowdown in September, employee compensation increased a strong 0.5 percent in October. “With income growing faster than consumption, the personal saving rate rose to 5.6 percent, the highest level in three years,” according to the Fed.

U.S. Economy in a Snapshot provides a condensed, comprehensive overview of current economic and financial developments with charts and commentary on a broad range of topics that include labor and financial markets, consumer behavior and the global economy.